Managers of Wealth Africa

How South African Companies Are Battling the Pandemic and Recession

Banks must wait and see whether they have adequately prepared for future bad debts

South African banks prepare for the worst

Front-loading credit impairments should help banks produce a better result in the next six months as they navigate through further fallout from Covid-19.

Good signs for middle-class South Africans

Additionally, spend patterns of consumers are showing recovery with most categories like groceries and entertainment back to normal.

Retirement annuities have decimated your savings – Magnus Heystek

To address this crisis, Heystek recommends that, the minute you are over 55, seriously consider getting your money into a living annuity where you can get a 100% offshore allocation.

FNB sees incomes recovery as lockdown eases

“However, the income recovery and improving cash flow among middle-income consumers bodes well for the economy as middle-class consumers have significant spending power.“

Nigerian Banks Seen Adding Fuel to Kenya’s Deal-Making Frenzy

“You would likely continue to see international banks trying to find ways to either get into the market by buying one of the banks in the country, or where they do have operations currently in the country, trying to scale-up their existing businesse

South African banks prove resilient despite share price slumps

Banks have set aside $1.85bn to cover potential bad loans, leading to an average profit decline of 69% in the six months to June

Worst of the Covid storm may be over for battered SA bank stocks

“This means from 2021 onwards, provisions will decrease and profits will increase, which, in our language, means we have an improving theme.”

Worst Year for South African Bank Stocks Offers Glimmers of Hope

The worst of the storm may be over, according to Old Mutual Investment Group, and the $40 billion money manager has adopted an overweight view on the sector.

Buy Your Market, Stay-Away Foreign Investor Advises Nigerians

The naira traded at 386.55 per dollar in the official market on Friday, compared with a black-market rate of 455.

Meet Nigerian Billionaire Who Owns N2 Billion Fleets Of Cars And $12 Million Mansion

Sir Olu Okeowo’s current net worth is estimated at $250 million which is equivalent to 90 billion Naira.

How young African tech entrepreneurs can accelerate development across continent

With such widespread interest, effort must be invested into unleashing Africa’s true potential, with its young entrepreneurs at the forefront of creating this transformation.

Richemont Announces Temporary Suspension Of The Shareholder Loyalty Scheme

The contemplated simplified structure is intended to reduce administrative complexity

Africa’s tourism season — but where are the tourists?

If foreign visitors — 80 percent of his income — don’t arrive for end-of-year vacations, he’ll need the profit from his cattle to stay afloat.

Supporting Economic Growth

While some of the banks may be willing to lend, the challenging operating environment has affected the level of financial support to companies and individuals.

Sh3.3trn bulk cash transfers signal business activity uptick

As a result, cash transacted went up 28.5 percent month-on-month from Sh2.59 trillion in June, signalling a recovery from a 26-month low of Sh2.25 trillion in May, Central Bank of Kenya (CBK) data shows.

Investment tools to consider when investing offshore

Key questions and investment vehicles for investors to consider – Albert Coetzee, co-head of sales at Ninety One.

Jim Ovia is king as Nigeria’s top bank chiefs earn N2.3bn in interim dividend

This follows the final approval of interim dividend in N9.4 billion at N0.30 per share

Herbert Wigwe : A chance to become a global leader

Little wonder then that Wigwe was last week named, the ‘African Banker of the Year’ at the 2020 African Banker Awards.

How Kenya’s growing super-rich make and spend their billions

Kenya’s billionaires made their vast wealth through entrepreneurship, particularly in real estate and construction, a new survey has shown.

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