Managers of Wealth Africa

Multiple bank accounts fall as clients cut costs

A 2019 study by advocacy firm FSD Kenya found that the cost of running a bank account in Kenya ranges from Sh845 to Sh17,750 per annum.

Tanzania, Uganda, and South Africa are the top African markets for remittance inflows in Kenya

The data from CBK showed that the cumulative inflows for the 12 months to January totalled $3.778 billion (Sh427 billion) compared to $3.113 billion (Sh351.4 billion) in the same period in 2021, a 21.4 per cent increase.

Here are the 5 richest individual investors on the Ghana Stock Exchange in 2022 (ranking by billionaires.africa)

The document ranks Businessman Daniel Ofori the richest investor on the Ghana Stock Exchange, with an investment portfolio worth $28.7 million and assets spread across five listed companies.

Assad Abdullatiff, Axis: Mauritius is an ideal jurisdiction for the establishment and administration of philanthropic structures

He emphasises that Mauritius offers not only the right legal vehicles to accommodate philanthropic ventures but also a number of other advantages through its conducive business ecosystem.

5 amazing facts about East Africa’s tallest building owned by the Commercial Bank of Ethiopia

The tower cost an estimated 303.5 million USD and was built by Chinese construction giant China State Construction Engineering Corporation.

10 predictions for what could lie ahead for South Africa in the 2022 budget speech

This has been exacerbated by the civil unrest that occurred in South Africa in July last year which has impacted business.

Ramaphosa's economic plan a blueprint for privatisation of SOEs - EFF

The EFF has slammed Ramaphosa for his comments that the private sector should lead job creation.

Insurance firms earned N630.36bn, paid N238.05bn claims – NAICOM

NAICOM said the total asset of the underwriting companies in 2021 was N2.14tn while net claims paid was N238.05bn.

African banking tycoon Tony Elumelu shares his Top 7 rules for success

He's an economist by training, a visionary entrepreneur and a philanthropist.

These South Africans are not going back to the office full-time: FNB

The longer-term rising work-from-home and work-from-anywhere trends will resume in the coming year

National Insurance Commission Seeks Insurance Cover for Intervention Funds

Others are group life insurance cover by all employers of labour for all their employees where there are more than three persons; Annuity for retirees as provided under the Pension Reform Act 2014 as an option among others.

International Bank Issues Alert on Kenya's Debt Crisis

Servicing the loan also takes 43 per cent of the country's revenue in form of taxes.

1% VAT hike likely after grant extension: economists

Schultz said he expects the government to focus on planning a sustainable replacement for the R350 grant over the coming year, with an implied 1% increase in VAT in 2023.

South African economic recovery deemed fragile by IMF

The economic recovery is deemed fragile, as it was accompanied by worsening unemployment, weak bank lending to the private sector and anaemic private investment.

The most important message for businesses in Ramaphosa’s SONA: Nedbank

Ramaphosa stressed that it was the state’s role to ‘create an environment in which the private sector can investment and unleash the dynamism of the economy’.

State capture: how the rot set in and how the project was rumbled

Corruption is fighting back ….

Worst of pandemic loan defaults over for banks, says Moody’s

The agency has projected the non-performing loans (NPLs) ratio to fall from December’s 13.1 per cent to around pre-pandemic levels of 12 per cent.

Business Talk – FNB CEO Jacques Celliers discusses the future of banking in South AfricaThe Banking Industry in Egypt 2021

Celliers talks about the exciting awards FNB has recently won – including Best SME Bank in South Africa and Africa at the Global SME Finance Awards,

The Future of Money: Gearing up for Central Bank Digital Currency

By Kristalina Georgieva, IMF Managing Director Atlantic Council, Washington, DC

VAT hike the most likely option for South Africa: analyst

There is simply not much more to do in this space without chasing the remaining taxpayers away.

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