09/21/2020
South African bank accounts linked in ‘dirty money’ report
Reuters said that the reports are not necessarily proof of wrongdoing, and the ICIJ reported documents were a tiny fraction of the reports filed with FinCEN.
09/21/2020
To achieve financial success, the 4Cs will be of great help.
09/21/2020
Resulting in the repo rate being reduced by a cumulative 2,75 percentage points since the beginning of 2020.
09/21/2020
EA deals fall in August as Covid limits capital flow
Of the four deals, three were private equity investments while there was one merger and acquisition deal in the financial sector where Kenya’s Cooperative Bank completed the buyout of a 90 percent stake in tier three lender Jamii Bora Bank.
09/21/2020
Chief executive of FNB Retail and Private Banking, Raj Makanjee says senior citizens, especially those who are already in retirement, are mostly vulnerable to lower interest rates because many rely on interest earned from fixed savings for monthly income.
09/20/2020
The least of severity of contracting a loan with interest is analogous to having sex with one’s own parent.
09/18/2020
In a sample conducted in 54 developing economies, the current tariff structure in 78 percent of countries benefit male- headed households.
09/18/2020
Patrice Motsepe, who is one of the richest men in South Africa with a net worth of $2.2 billion.
09/18/2020
South Africa and Mauritius have the least NPLs in Africa at four and five per cent while Angola has the highest at 33 per cent.
09/18/2020
Banks must wait and see whether they have adequately prepared for future bad debts
09/17/2020
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.
09/17/2020
Additionally, spend patterns of consumers are showing recovery with most categories like groceries and entertainment back to normal.
09/16/2020
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.
09/16/2020
“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.“
09/15/2020
“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
09/15/2020
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
09/15/2020
“This means from 2021 onwards, provisions will decrease and profits will increase, which, in our language, means we have an improving theme.”
09/14/2020
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.
09/13/2020
The naira traded at 386.55 per dollar in the official market on Friday, compared with a black-market rate of 455.
09/13/2020
Sir Olu Okeowo’s current net worth is estimated at $250 million which is equivalent to 90 billion Naira.