Managers of Wealth Africa

Forex reserves dip to 10-year low amid debt repayments

This emerged in a period when the country was expected to repay foreign debts estimated at Sh63 billion, according to the World Bank tracker of public debt.

Rand weakens through R18/$ for first time since November

Outlook for inflation and interest rates worsens as the currency dips

OPEC Fund, Africa Finance Corporation sign $50m loan to finance infrastructure development

The loan doubles the OPEC Fund’s commitment to AFC following an initial $50m 10-year loan provided in January 2021

Vivo firms grip on Kenya market with Engen deal

The number of Engen fuel stations in Kenya remains undisclosed but the oil marketer’s footprint is mainly concentrated in Nairobi.

Big jump in petrol prices expected for March

Global markets were in risk-off mode last week amid concerns that the continued strength in the US labour market could result in the US central bank keeping their policy interest higher for longer.

Government is investing R2.8 billion in one of South Africa’s fastest-growing cities

The conclusion of the transaction will result in GEPF owning 30% of AWIC for an estimated cash consideration of R2.8 billion.

Kenya’s 19 major projects hit by $532mln cut in foreign funding

Roads and energy infrastructure projects most impacted by funding cutbacks

February bond underperforms, investors go for T-bills

Investors instead oversubscribed by a wide margin the last three Treasury bill auctions

Warning for property owners in South Africa – brace for a rough year ahead: experts

Under a scenario where the economy sufficiently recovers to support GDP growth of 1.1%, Lightstone expects core inflation to climb to 5.5%, with interest rates increasing by 200 basis points.

26 mega projects planned for South Africa – including a new R5 billion smart city and big push into renewable energy

The private sector remained the major driver of investment, with planned new projects rising to R193.6 billion, accounting for 78% of the total value of new projects announced in 2022.

Bankruptcy applications decline to five-year low

Bankruptcy filings have been on a steep decline over the years despite rising debts and sustained seizures and auctions of distressed properties, exacerbated most recently by the Covid-19 crisis.

Investors on strike in South Africa

“Business investment in South Africa is on strike until things improve.”

Investment opportunities for growing wealth in Nigeria in 2023 – Kalu Aja

Aja stated this at the Nairametrics Economic Outlook 2023 Webinar with the theme: 2023 Economic Opportunities to mitigate the impact of headwinds.

Mauritius private equity firm in talks to fully acquire Java

Actis put Java up for sale and sources say it valued the casual dining and coffee chain at $40 million (Sh4.9 billion).

NSE investors lose Sh164bn in State-run firms

Kenya Airways leads with the largest market capitalisation shrinkage of Sh98.6 billion to stand at Sh21.7 billion –capturing its valuation on July 6, 2020, when it last traded.

Joburg property values not justified by the market, estate agents say

Market is stagnant and increase in Joburg’s property base is likely to be an attempt by the city to boost its coffers, they say

Number of unit trust investors triples in a decade

Investing directly often requires more knowledge and higher investable funds for one to achieve diversification and risk management.

Home prices see biggest fall in 4 years as mortgage rates rise

Property dealers have attributed the fall to the rising interest rates that deterred prospective buyers and sky-high inflation in the Western world that depressed demand from Kenyans in the diaspora.

Staff of Access Bank support 70 communities

In addition, staff have provided a firefly machine to the Ussher Polyclinic in the Greater Accra Region so that jaundiced neonates could now receive phototherapy treatment at the hospital.

South African rand weakens against dollar, stocks down

The rand's weakness reflects domestic growth concerns due to an ongoing electricity crisis, Investec analyst Annabel Bishop said in a note.

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