Managers of Wealth Africa

Investors gain N182bn in one week

Despite the positive trading during the week under review, a total of 2.025 billion shares worth N27.69bn exchanged hands in 32,763 deals

AfDB invested over $10bn in Nigeria in 52 years

With an estimated 60 million people, which is 28 per cent of the country’s population, North-West Nigeria is home to 10 million of the country’s 22 million herds of cattle.

Property prices are surging in this part of South Africa

Many residents also opt to stay in the area, with roughly 50% owning their properties for ten or more years.

Construction stumbles in South Africa as developers sweat

The outlook for work deteriorated according to respondents’ expectations, which aligns with the drop building plans passed reading for Q3, which showed that plans passed dropped by -13.3% qqsa.

Good news for interest rates in South Africa expected next week

Global financial markets remain highly sensitive to the US interest rate cycle, and fluctuating expectations add to rand volatility.

Non-tax revenue hits 3-year high of Sh29bn on mop-up

Services such as transportation permits like driving licences, land titling, and registration of persons are key sources of non-tax revenue.

World Bank disburses $300m palliative loans

With this loan, the Federal Government plans to run a monthly cash transfer programme for poor and vulnerable Nigerians

Nigeria’s Wigwe makes $500m investment in higher education

Wigwe is resolutely committed to injecting $500 million over a five-year span into his envisioned hybrid university.

South Africa’s new ‘travel pass’ expands

Travellers who are travelling with children or infants will also need to complete a declaration on their behalf.

Africa: Investors opting for data centres, green projects

Africa has 785 green-rated buildings of which 641 are in South Africa alone

CIC Group unroll $2mln payroll restructuring: Kenya

The restructuring also focuses on balance sheet re-organisation

South Africa readies for a rough landing

According to Stats SA, manufacturing production plunged by 4.3% y-o-y in September, following a downwardly revised 1.5% increase in August.

Africa Investment Forum secures $34.82bln in investment interests

Africa Investment Forum is a multi-stakeholder and multi-disciplinary platform

FG to spend N7.76tn on salaries, others

N605bn for national defense and security is to sustain the gains made in security.

Devaluation: Pension funds decline by 45% in dollar terms

In an attempt to raise investors’ confidence, the CBN this month began to clear forex backlogs in banks.

Alarm bells for South Africa’s GDP

The significant decline in tax revenues compared to projections was highlighted by Finance Minister Enoch Godongwana in the Medium Term Budget Policy Statement (MTBPS).

Safaricom stock jumps 6.8pc on Kenya unit profit growth

The company topped trades at the Nairobi Securities Exchange (NSE), posting a turnover of Sh230.2 million with 17.3 million shares traded.

Private Equity fund Africinvest buys 10 percent shareholding in I&M Group

The buyer of a stake is a related party to the British DFI

Inflation relief on the cards for South Africa – but it won’t be a smooth ride

While inflation could dip to 5.1% y/y in the December 2023 reading, it could lift again, reaching 5.6% y/y in January 2024

Steady growth in pension assets

This represents a healthy increase of NGN2.9trn compared to the previous year.

Alternative Investments