Managers of Wealth Africa

Profit-taking persists as investors wealth plunge further by N278b

Analysts attributed the downturn to continued profit-booking across sectors after eight straight weeks of market rally, resulting in losses.

Africa free trade bloc seeking "innovative" ways to launch on Jan. 1

Its launch was already delayed from July 1 due to the pandemic.

Afreximbank posts $217m net income in 9M 2020

Afreximbank has posted a net income of $217.06 million for the nine months ended September 30, 2020.

African utilities wary of threat from renewables

The rise of clean energy and prosumers, net metering and greenhouse gas regulation all figure among the bogeymen as far as national electric companies are concerned.

Old Mutual raises R2bn in bond issuance

With its latest bond issuance, the Group initially planned on issuing R1.5bn in bonds.

Dangote emerges most valuable brand for 2020

The Chief Executive Officer, Top 50 Brands, Taiwo Oluboyede, expressed his excitement that Nigerian brands had taken the shine by maintaining their leadership positions, with seven of the top 10 brands being Nigerian.

Bank jobs on the line as COVID-19 wreaks havoc on industry

The closure of bank branches is expected to correspond with a trim on banking sector staff exacerbating the switch to digital transactions.

Kenya among top startup funds destination in Africa: Survey

These same countries also collectively received the largest share of funding in 2019.

67 companies and individuals win big at 2020 Ghana Business Awards

Delivering the keynote address, the Minister of Business Development, Dr Ibrahim Mohammed Awal charged founders of indigenous companies to put in place a good succession plan in order to sustain their businesses after their exit.

Finance In Common summit rallies 450 development banks to ramp up, deepen collective efforts to address fragility beyond COVID-19

“Nothing can dampen our collective resolve to provide better opportunities for all” - African Development Bank President Akinwumi Adesina

Nigeria’s Micro Pension industry: A gold mine waiting to be tapped

The Nigerian government expanded the Pension Reform Act (PRA) of 2014 to include provisions for Micro pensions.

European firms say SA’s poor utilities deter investment

The obstacles illustrate the challenges as President Cyril Ramaphosa backs a drive to attract investment to help the economy recover from what’s forecast by the government to be the biggest contraction in nine decades this year.

‘N2.3tr pension fund available for real sector investment’

She stated that the N2.3 trillion represents 20 per cent of portfolio limit out of the total pension fund, which stands at N11.3 trillion as at August 31, 2020.

KTH announces new phase in its growth trajectory

As part of the transaction, KTH also sold its shares in KTH Africa Investments to TIH Mauritius Holdings.

International Investor Magazine announces its final round of business award winners for 2020

Our readers have selected organisations that are bringing better ways of doing business to the investment community.

The rise of Islamic banking in SA

FNB Islamic Banking CEO Amman Muhammad discusses what differentiates this growing sector

NSE capitalisation hits N17tr mark, as investors sustain appetite in dividend paying stocks

NASCON followed with 9.96 per cent to close at N15.45, and Northern Nigeria Flour Mills rose 9.92 per cent to close at N6.65, per share.

Safaricom taps Sh24bn loans as virus cuts profit

It is the first time in nine years Kenya’s most profitable firm is reporting a fall in earnings.

Treasury’s emergency loans at CBK surge to Sh63 billion

The emergency lending, which is regarded as the direct creation of cash by the CBK, is ideally meant to be restricted to a maximum of five per cent of the most recently audited revenues and repaid by the end of the fiscal year.

Tunisian Banks Face Surge in Credit Losses as Debt Relief Ends

The ratio of impairment charges to pre-impairment operating profit rose to 62.9% for our sample of major banks in aggregate, from 29.9% in 2019.

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