Managers of Wealth Africa

Markets make strong rebound

The financial sector felt the effects of the pandemic more severely.

USD15 trillion to be passed to Millennials, Gen X and Y in the next decade

This equates to more than USD15 trillion – which is higher than China’s annual GDP. Regionally, 41 per cent of this wealth will be transferred from the Americas, 32 per cent from EMEA and 27.5 per cent from Asia-Pacific.

CBN retains monetary policy rates, says Nigerian economy strong despite COVID-19 pandemic

At the briefing on Monday, the CBN governor said the MPC decided to retain all the monetary policy rates to allow the various intervention programmes time to take effect.

DBN Highlights Benefits of Credit Guarantee to MSMEs

They all alluded to the fact there was need to increase awareness in ensuring that the much-needed stimulus and alternative means of facilitating financing are discovered to stem the shock to Nigeria’s economic and financial system.

Investor confidence plunges by 0.08 per cent amid uncertainty

Analysts argued that the sectorial rotation and performance have been volatile in the recent period, causing the market outlook to remain unstable.

BAT retrenchment costs hit Sh1.1bn in four years

The redundancy expense was lowest in 2018 at Sh29.8 million.

SA extends its longest slump since 1945

The economy entered the 80th month of a weakening cycle in July, according to data in the Reserve Bank’s Quarterly Bulletin released Thursday.

Africa in the news: African women vie for leadership positions; Ethiopia, Côte d’Ivoire, and Tanzania updates

This will not be the first time Opoku-Agyeman has broken gender barriers.

Are African businesses getting skeptical about private equity?

Private equity is a form of financing where funds and investors invest directly in potentially high growth companies that are privately owned for a specific period.

Reaching More With Less In Wealth Management

Changing client needs demand that wealth solutions are offered 24/7, cross-platform, self-service financial products that work on their terms.

Uganda's central bank may cap commercial bank interest rates

The central bank was therefore considering invoking a law that allows it to determine maximum and minimum rates that “financial institutions may...impose on credit extended in any form.”

Bulls from GTBank, Zenith lifts Nigerian Bourse, Investors gain N94.2 billion

Nigerian bourse finished trading on a positive note with renewed buying interest.

Face mask can cause failed ATM transactions – Banks

Fidelity Bank ATM machines have face detection features installed to curb incidences of fraudulent ATM withdrawals.

TymeBank, Discovery Bank see customer gains during lockdown

The bank, which adds an average of 100 000 to 120 000 customers a month, breached these numbers in May.

People are turning to retirement savings to cope with lockdown, but most don't have enough

Retirement savings surveys show people didn't have much to begin with when the coronavirus hit.

Remote work is not enough to increase workplace productivity in Africa’s major tech cities

Briter Bridges released a report (PDF) for the last quarter of 2019 revealing that the frequency of tech hubs in Africa has increased to 643 with South Africa, Nigeria, Kenya, and Egypt making up 42.6%.

Africa’s growth stands to rebound to 3% in 2021

Post COVID-19: Africa’s growth stands to rebound to 3% in 2021, African Development Bank says in African Economic Outlook 2020 Supplement

How much money South African banks have given in coronavirus support – and why they won’t offer debt write-offs

Relief granted to commercial, small and medium enterprises amounted to R12.39 billion, with banks approving 132,508 (95.5%) of 138,675 applications for assistance.

Partnerships that’ll unlock cash flow and cut bad loans

It is a vicious cycle that if unchecked will leave a trail of collapsed businesses, triggering mass unemployment and the attendant socio-economic costs. A three-pronged economic recovery strategy can pull Kenya out of the grips of recession.

KENYA: Current account deficit narrows to 5.2pc in May

The pandemic led to reduced demand from the export destinations as countries placed lockdown measures to curb the spread of the virus.

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