Managers of Wealth Africa

Equity, KCB pile pressure on Safaricom in profitability race

This follows a back-to-back profit drop by Safaricom in the year ended March 2022.

Mauritian firm to spend Sh2bn in expansion of Orbit factory

Grit purchased the Orbit facility in a deal worth $53.6 million (Sh7 billion), adding to its growing portfolio of commercial real estate in the country.

South Africa's grey listing hits local firms but not our ambitions to grow business links

In essence it means increased bureaucratic hurdles, firms will need to review customers connected to South Africa and apply full customer due diligence where they may have previously used a concession.

UK's BII commits €20mln to Africa-focussed urban resilience fund

TURF will invest sustainable public infrastructure projects in sub-Saharan Africa

2 African development banks invest $16bln in oil, gas projects

African Export-Import Bank’s oil, gas portfolio exceeds $15bln, says official

How much it pays to be CEO at South Africa’s state-owned companies

While company chief executives are the top earners, they are by no means the only ones pulling in multiple million-rand salaries.

Morningstar Announces Winners for 2023 Morningstar Fund Awards – South Africa

The awards recognise those funds and asset managers that have served investors well over the long-term.

What to Know Before Seeking Growth Capital in Nigeria

Growth capital can be a great way to finance business expansion and development without taking on bank loans

Baloobhai buys Sh181m extra stake in Co-op Bank

This led to his stake in the country’s third largest bank rising to 0.94 percent –with a current market value of Sh683.8 million— from 0.69 percent over the same period.

Pension assets post muted growth amid weak markets

Last year, the stock market was hit by sustained foreign investor selling as capital flowed from smaller markets to the safety of the US due to global economic uncertainties partly caused by the Russia-Ukraine war.

Ramokgopa says power cuts make SA a hard sell

The electricity minister is on a weeklong tour to assess national power stations

Big changes coming to banks across South Africa

The new system allows consumers using popular commercial banks to send up to R3,000 with just a phone number instead of a bank account number.

Prices for these properties in South Africa are rising much faster than the rest

By comparison, the mid-value residential property is only sitting at 3.4%, still the second highest segment.

KCB adds 2,500 staff on Congo unit buyout

Tanzania, Uganda and Burundi units added 10, six and three workers respectively, further deepening KCB Group’s position as the biggest employer among Kenyan lenders.

Stanchart invests Sh200m in cyber safety

Cybercrime is going to be the biggest challenge in the financial sector for many years to come

Sanlam eyes faster growth in Allianz joint venture deal

Sanlam will own a 60 percent stake in the joint venture while Allianz will hold a 40 percent interest with an option to buy an additional nine percent ownership in the future.

Property buyers in South Africa are being cautious

The SARB will meet again at the end of March, with most economists anticipating another 25bp hike, signalling the peak of the cycle.

Gold price at Kenya stock market hits historic highs

Investors in the NewGold ETF are holding onto the asset, reflected by muted trading at the NSE amid increased turnover in the equities segment.

Banks plan for R7.8bn of losses as Ghana restructures debt

“We dealt with the risk, because as we see it, while there’s a potential for a better outcome, there’s also potential for a worse outcome,” Absa Chief Financial Officer Jason Quinn said in an interview.

SA banking stocks feel the heat but largely escape global financial contagion

The combined market capitalisation of the MSCI World Financials Index and MSCI EM Financials Index has dropped about $465bn in three days, Bloomberg reported.

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