Managers of Wealth Africa

Biggest Africa Fund Manager’s Staff Warn of ‘Existential Crisis’

Issue could prevent firm fulfilling social-development goals

Shifting the focus away from periodic KYC

Financial institutions in Mauritius generally perform a Periodic KYC exercise

The PIC now owns Deloitte’s R1.7 billion offices in Joburg

Formally completed in April 2020, the premises includes comprise 42 500m² of quality workspace, which will consolidate Deloitte’s current Woodmead and Pretoria offices in a single central location.

Access Bank: Leveraging debt recovery for sustainable growth

Several innovations and expansion plans by Access Bank has lead to uptick in its performance in the full year 2020 financial results.

Two new committees for private equity and venture capital market

Adding to the discussion, Khaled Ben Jilani from AfricInvest shared how private equity could safeguard the livelihoods of MSMEs in Africa.

Diamond’s Atlas Mara Receives Approaches for Africa Assets

Some potential buyers have indicated they may acquire all of Atlas Mara’s remaining assets in Africa, which would include its Zimbabwe unit, the people said.

SMEP seeking nod to search for investor as losses mount

The search for new capital comes on the back of the micro-financier having posted a Sh68.75 million loss at the end of last year from Sh6.27 million net profit in the preceding similar period.

Allianz purchases 66pc stake in Jubilee General Insurance

The deal is Allianz’s second direct investment in the country, after establishing Allianz Insurance Company of Kenya Limited as a greenfield operation in 2014.

Corporate Nigeria spends N31.22 billion on travel expenses in 2020

According to data obtained by Nairametrics Research, travel expenses of major corporations in Nigeria dipped by 36.97% in 2020.

Spire Bank crisis needs swift CBK intervention

To survive, Spire Bank requires additional capital to resume growing its lending book, and this can only happen through sale of the lender to credible strategic investors.

AfDB to Support Morocco’s Business Climate With $1 Million Grant

The AfDB offered Morocco several grants for several purposes, including to support the country tackle COVID-19 crisis.

Alterra Capital, Carlyle’s discreet successor, sets its sights on African deals

At stake was $700m in assets, a plethora of partnerships, the 10 or so companies that make up its portfolio and more than 10 years of experience on the continent.

Kenya’s I&M acquires orient bank

“The move underscores I&M Group’s commitment to its growth and expansion strategy in Eastern Africa, where Uganda was the missing link in the Group’s strategic effort to set up its presence in all East African countries,” says

African Energy Downstream Committee to drive African competitiveness, jobs, local content, energy, and maritime security

he African Energy Chamber believes that the Downstream and Midstream Activities of our African energy sector are key drivers for change in the overall industry.

Tanzania starts refining gold to international standards

Stamico will also be getting 2.5 per cent from total sales as management fee.

S.Africa's Sanlam ups stake in Morocco's SAHAM Assurance for $137 mln

The insurer will purchase the stock, priced at 2,101 rand per share, from its Moroccan partner and business mogul Said Alj and two entities related to him, it said.

Nigerian politicians own 800 properties worth $400m in London, Dubai – Chatham House Expert

Matthew Page, an associate fellow of Chatham House, London, U.K., says education and real estate sectors provide opportunities for Politically Exposed Persons (PEPs) in Nigeria to launder money.

NSE-30 companies pay more than N8 billon to auditors for 2020 services

These companies in the NSE-30 paid a total of N8.87 billion as auditor’s remuneration in 2020.

Can credit ratings unlock sustainable development in Africa?

Credit ratings provide an additional mechanism for investors to understand the credit risks associated with an entity or its debt obligations.

Move toward alternative investments augers well for push into infrastructure

‘If you look at infrastructure investments like renewable assets, they have done very well.’

Alternative Investments