Managers of Wealth Africa

South Africa’s largest insurer hit with R10 million fine

In March 2024, the FSCA inspected SCI in terms of Section 45B of the FIC Act and saw several issues with compliance with the FIC Act.

Half of GTCO’s African banking units see profits drop to $223m as costs surge

Group’s first-half performance comes before historic London listing

Ecobank Ghana to offer flexible mortgage options at Ecobank JoyNews Habitat Fair

The bank emphasized that it will provide tailored financial guidance and flexible mortgage arrangements for visitors

Four Decades of Partnership: “Germany Implemented Projects Worth €1.8 Billion in Mozambique”

We consider Mozambique a reliable partner and have political, economic, and cultural relations, with many Mozambicans currently living and studying in Germany.

Dubai-based finance company heading to the JSE

The Dubai-based company enables access to financial services for millions of underbanked individuals across 38 countries.

World Bank dismisses Nigeria’s single-digit inflation target

At the CBN Governor’s Annual Lecture Series at the Lagos Business School, held last week in Lagos, Cardoso said a single-digit inflation rate remains its medium-term target.

Storm brewing at the SABC, and South Africa’s richest city puts mafia groups in the crosshairs

The rand, which is sensitive to changes in global risk sentiment, traded at 17.2500 against the dollar, just slightly down from its Friday close of 17.2475.

South African firms post modest growth as sentiment falls to four-year low

PMI expands to 50.2 as cost pressures cool

Zimbabwe seeks private investment to modernize power grid

Off-grid and decentralized solutions are being promoted to increase rural electrification

Big changes for R60 billion investment company in South Africa

MI Capital provides asset management, advisory and B-BBEE services to MII, partners and other investors.

Africa stocks rally into global top 20 on reforms, dollar dip

Ghana was in first place among the world’s best-performing stock markets in dollar terms this year.

Kenya launches $1bln bond buyback to smooth out maturities

The East African nation has been working to cut its overall debt, which stands at close to 70% of its GDP, and make repayments more manageable

Capitec is opening the taps

This is well above the 4.0% and 4.5% credit sales growth seen in August 2023 and August 2024, respectively.

South Africa records large FDI outflows in Q2 as Anglo spins off platinum unit

Portfolio investments switched from outflows of 53.7 billion rand in January-March to inflows of 69.4 billion rand in April-June

Africa’s wealthy seek global investment corridors

Private banks are positioning themselves to attract African wealth in entrepreneurs’ home countries and internationally, as migration intensifies

The rand’s winning streak has nothing to do with South Africa

This means the rand has not necessarily strengthened on its own merits, with the improvement solely due to the depreciation of the US dollar.

South Africa heading towards a serious disaster

However, they have been run into the ground in recent years, accumulating high debt levels due to mismanagement and overspending.

African Development Bank Group and Michael Bloomberg to Drive Private Investment into Africa

Together we will consolidate our strengths for mobilizing private sector resources and unleashing investments at scale for Africa’s development – Dr Sidi Ould Tah

Price pain coming for South Africa

Most other categories also recorded price increases, with fruit and vegetables up from 4% to 4.9%, oils and fats from 0.7% to 1.7% and bakery products from 1.8% to 2.4%.

African Development Bank launches its second Hybrid Capital transaction: a USD 500 million Perpetual Non-Call 10-year (Perp NC10) Hybrid Capital

The high quality of the order book highlights the growing consolidation of an investor base supportive of the product.

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