Managers of Wealth Africa

African Development Bank approves Mashreq as Confirming Bank under its Trade Finance Transaction Guarantee Instrument

The Bank Group will provide transaction-by-transaction guarantees covering up to 100% of the non-payment risk assumed by Mashreqbank on eligible trade finance transactions originated by Bank Group-approved African issuing banks.

South Africa’s Standard Bank agrees to invest up to $200mn in OPay subject to proposed US IPO

Under the agreement, Standard Bank subsidiary Stanbic Africa Holdings would subscribe for newly issued OPay shares alongside the proposed IPO

The government wants to take over R88 billion owed to ordinary South Africans

The proposal would initially focus on unclaimed retirement fund benefits before being expanded to banking, insurance, and investment products.

Nigeria’s external reserves gain $115 million in six days, hit $55.07 billion

Nigeria’s gross external reserves reached $55.07 billion on October 8, compared with $54.95 billion on October 2, an increase of about $116 million over the period.

Strong FPI inflows despite softer domestic liquidity

The softer liquidity conditions reflected weaker participation from domestic sources

Sequential rise in FGN domestic debt

This follows our initial commentary on Nigeria’s total public debt stock in our Good Morning Nigeria note of 30 September 2026

A normal growth trajectory for pension AUM

The sustained expansion suggests that the decline recorded in June was temporary, with pension assets resuming their normal upward trajectory.

Absa Bank Kenya stock gets a permanent CEO

Absa Bank Kenya stock closed at KES 33.35 on October 7, 2026, after a leadership transition.

World Bank revises Africa’s growth upwards to 4.3%

The report said public debt had broadly stabilised at about 57 per cent of Gross Domestic Product (GDP), although high debt-service costs continued to constrain spending on health, education and infrastructure.

South Africa’s largest insurer jumps R11 billion in a day

The insurance giant has also seen its share price increase by 20.4% over the last six months, adding 8,052 cents to its price, largely due to Monday’s rally.

World Bank raises Nigeria’s 2026 growth forecast to 4.3%, sees 4.4% in 2027–28

The World Bank expects Nigeria’s economic expansion to strengthen over the next three years as the impact of economic reforms and improved macroeconomic management becomes more evident.

Is Sanlam too late to the bank party?

There are real risks to entering the market nearly eight years after Discovery.

Two foreign banks apply to enter Ethiopia through greenfield investments

The development is the first clear indication that Ethiopia is beginning to dismantle its five-decade-long restriction on foreign participation in commercial banking.

Forbes’ World’s Best Employers 2026: No Ghanaian firm ranked among 900 companies

Six of the top 10 firms were from the banking and financial services industries.

Disturbing insurance trend emerging in South Africa

In these cases, beneficiaries are accused of orchestrating or participating in the deaths of policyholders to gain access to life insurance proceeds.

FGN bond allotments rise 106% to N7.15 trillion in nine months

The strongest monthly increase was recorded in June

Money flooding out of South Africa

The last time the RSI dipped below 30, that preceded an 11-month, 57% rally that only came to an end at the outbreak of the Iran war.

Nedbank in hot water, and what the new ID for South Africans will look like

Data from Naamsa showed that new vehicle sales rose by 12.7% year-over-year in September, up from 11.4% growth in August.

Standard Bank Angola marks entry into the equity market with ‘ring the bell’ ceremony

Standard Bank Group CEO, Sim Tshabalala, visits Luanda to commemorate the milestone.

Ex-Woolies CEO can net nearly R90m in incentives after retiring

And was paid a performance bonus of R6.5m for last year.

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