Managers of Wealth - Africa http://africa.managersofwealth.com/ Mon, 05 Dec 2022 00:14:24 GMT part of MediaG8way Group http://africa.managersofwealth.com/ http://africa.managersofwealth.com/assets/images/logo.png Managers of Wealth - Africa KohanaPHP More wealthy women leaning into philanthropy in SA, Giving Report shows News Aggregation Team Thursday, November 24, 2022 12:00 am http://africa.managersofwealth.com/article/35313/more-wealthy-women-leaning-into-philanthropy-in-sa-giving-report-shows Indicating that the profile of the country’s high-net-worth individuals may be changing. Wealth and Asset Management The dos and don’ts of building generational wealth News Aggregation Team Friday, November 18, 2022 12:00 am http://africa.managersofwealth.com/article/35273/the-dos-and-donamprsquots-of-building-generational-wealth Everybody dreams of handing over their accumulated wealth to the next generation, but few achieve it. Here’s why. Wealth and Asset Management UBS looking to close dealmaking and advisory business in MENA region News Aggregation Team Thursday, November 03, 2022 12:00 am http://africa.managersofwealth.com/article/35174/ubs-looking-to-close-dealmaking-and-advisory-business-in-mena-region The bank also decided to withdraw its on-the-ground activities in the last few weeks. Wealth and Asset Management Stonehage Fleming buys South African firm Rootstock News Aggregation Team Friday, October 21, 2022 1:00 am http://africa.managersofwealth.com/article/35088/stonehage-fleming-buys-south-african-firm-rootstock This will add AUM and investment expertise, together with a presence in Stellenbosch, to Stonehage Fleming, strengthening its position in the South African domestic market. Wealth and Asset Management Investec hires more financial advisers for young clients News Aggregation Team Monday, October 17, 2022 1:00 am http://africa.managersofwealth.com/article/35046/investec-hires-more-financial-advisers-for-young-clients Niche bank targets about 60,000 professionals in its client base who are still accumulating wealth Wealth and Asset Management Global wealth set to contract over 2% in 2022 News Team Monday, October 17, 2022 1:00 am http://africa.managersofwealth.com/article/35047/global-wealth-set-to-contract-over-2-in-2022 Average nominal growth of financial assets is expected to be at 4.6% until 2025, according to Allianz Wealth and Asset Management What East Africa’s Tide Of WEALTH Looks Like News Aggregation Team Tuesday, October 11, 2022 1:00 am http://africa.managersofwealth.com/article/35002/what-east-africaamprsquos-tide-of-wealth-looks-like FORBES AFRICA takes a look at these movements on how the wealthy and ultra-rich in East Africa are changing the way they manage their assets. Wealth and Asset Management Wealth Preservation, across the Continent, is Key to the Growth of any Economy News Aggregation Team Monday, October 10, 2022 1:00 am http://africa.managersofwealth.com/article/34995/wealth-preservation-across-the-continent-is-key-to-the-growth-of-any-economy According to a 2019-2020 report by New World Wealth, people living in South Africa together hold $636 billion in wealth. Wealth and Asset Management Former microfinance becomes largest private bank in Ethiopia News Aggregation Team Monday, September 19, 2022 1:00 am http://africa.managersofwealth.com/article/34856/former-microfinance-becomes-largest-private-bank-in-ethiopia ACSI began operations in 1995 as a department of the organization for the Rehabilitation and Development of Amhara (ORDA), a local non-government organization, and was licensed as a separate micro finance share company in April 1997. Wealth and Asset Management South Africa, Egypt, and Nigeria possess 56% of Africa’s wealth News Aggregation Team Monday, September 19, 2022 1:00 am http://africa.managersofwealth.com/article/34857/south-africa-egypt-and-nigeria-possess-56-of-africaamprsquos-wealth The world is not on track to meet almost any of the “sustainable development goals” adopted by the UN in 2015, according to a new report by the Bill and Melinda Gates Foundation. Wealth and Asset Management DeNexus expands European offering with senior hire News Team Thursday, December 01, 2022 12:00 am http://africa.managersofwealth.com/article/35361/denexus-expands-european-offering-with-senior-hire DeNexus has hired sales and engineering security specialist Víctor Manuel Aguilar Gutiérrez as part of its strategy to increase the reach of its cyber risk quantification and management tools in EMEA Executive Moves Former FIRS Boss Joins PZ Cussons Board News Aggregation Team Thursday, December 01, 2022 12:00 am http://africa.managersofwealth.com/article/35365/former-firs-boss-joins-pz-cussons-board He proceeded to the London School of Economics and Political Science to secure an MSc in Accounting and Finance. Executive Moves Max appoints former Goldmans Sachs advisor, as new Director of expansion News Team Tuesday, November 29, 2022 12:00 am http://africa.managersofwealth.com/article/35334/max-appoints-former-goldmans-sachs-advisor-as-new-director-of-expansion David Hoyme to support MAX’s expansion and disruption of Africa’s transportation sector via smart technologies Executive Moves Igathe returns to SA’s Tiger Brands News Aggregation Team Thursday, November 24, 2022 12:00 am http://africa.managersofwealth.com/article/35317/igathe-returns-to-saamprsquos-tiger-brands Mr Igathe returns to the multinational, having previously served as the managing director of its former subsidiary Haco Industries which is based in Nairobi. Executive Moves Crypto exchange Binance appoints East Africa boss News Aggregation Team Wednesday, November 23, 2022 12:00 am http://africa.managersofwealth.com/article/35304/crypto-exchange-binance-appoints-east-africa-boss Mr Anjarwalla is expected to grow the uptake and trading in the region. Executive Moves Allianz Nigeria gets interim CEO News Aggregation Team Wednesday, November 23, 2022 12:00 am http://africa.managersofwealth.com/article/35308/allianz-nigeria-gets-interim-ceo As Executive Director, Technical, Jaideep was responsible for enforcing underwriting discipline and loss control that helped to santise the books of the company. Executive Moves Equity names Uganda MD Samuel Kirubi as Group operating chief News Aggregation Team Tuesday, November 22, 2022 12:00 am http://africa.managersofwealth.com/article/35300/equity-names-uganda-md-samuel-kirubi-as-group-operating-chief The Board has expressed confidence in Kirubi’s capability, experience and deep knowledge of the transition culture in taking up this responsibility at a critical time of the bank’s growth and expansion. Executive Moves Mteto Nyati makes the move from Altron CEO to tech investor News Aggregation Team Friday, November 18, 2022 12:00 am http://africa.managersofwealth.com/article/35280/mteto-nyati-makes-the-move-from-altron-ceo-to-tech-investor Mudiwa Gavaza speaks to Nyati about his business activities since stepping down as CEO of JSE-listed tech firm Altron in June Executive Moves Hope Payment Service Bank Appoints MD News Aggregation Team Wednesday, November 16, 2022 12:00 am http://africa.managersofwealth.com/article/35254/hope-payment-service-bank-appoints-md He further noted that the appointment of Mrs. Altraide is one of the measures geared towards positioning the Bank as a leading payment service Bank in Nigeria. Executive Moves Morningstar hires European index sales head from Amundi News Aggregation Team Tuesday, November 15, 2022 12:00 am http://africa.managersofwealth.com/article/35253/morningstar-hires-european-index-sales-head-from-amundi Liz Wright will be responsible for growing Morningstar’s European footprint Executive Moves Oppenheimer Partners snaps up Amrod News Aggregation Team Thursday, December 01, 2022 12:00 am http://africa.managersofwealth.com/article/35367/oppenheimer-partners-snaps-up-amrod Carlyle initially invested in the company through its Carlyle Sub-Saharan Africa Fund (CSSAF) in 2016 Legal Dentons South Africa recognized by Best Lawyers 2023 News Team Wednesday, November 30, 2022 12:00 am http://africa.managersofwealth.com/article/35352/dentons-south-africa-recognized-by-best-lawyers-2023 Best Lawyers in South Africa 2023 Legal Ghana: Sunyani High Court Cites ADB Bank for Contempt News Aggregation Team Thursday, November 17, 2022 12:00 am http://africa.managersofwealth.com/article/35264/ghana-sunyani-high-court-cites-adb-bank-for-contempt But contrary to the allegation, it was later detected that a new software the bank had installed which made the transmission of the said amount from the Sunyani adb account to the BoG account to fail. Legal Court Orders Zenith, UBA To Remit N2m, N13m Fraud Proceeds To Victim News Aggregation Team Tuesday, November 15, 2022 12:00 am http://africa.managersofwealth.com/article/35248/court-orders-zenith-uba-to-remit-n2m-n13m-fraud-proceeds-to-victim A Federal High Court sitting in Lagos has directed the managements of the United Bank for Africa (UBA) and Zenith Bank to reverse the proceeds Legal Frenchman blocks Kenyans from unfrozen Sh2.3bn at Ecobank News Aggregation Team Wednesday, November 09, 2022 12:00 am http://africa.managersofwealth.com/article/35208/frenchman-blocks-kenyans-from-unfrozen-sh23bn-at-ecobank High Court judge David Majanja on Monday ruled that no one should operate or access the accounts after Gregory Schmidt, the Frenchman, filed another petition Legal VBS-accused fails to have banking law set aside, court orders his sequestration News Aggregation Team Tuesday, November 08, 2022 12:00 am http://africa.managersofwealth.com/article/35196/vbs-accused-fails-to-have-banking-law-set-aside-court-orders-his-sequestration Sars seeks R61m in tax from politically connected Kabelo Matsepe. Legal Foreigner, three Kenyans fight over unfrozen Sh2.3 billion News Aggregation Team Tuesday, November 01, 2022 12:00 am http://africa.managersofwealth.com/article/35149/foreigner-three-kenyans-fight-over-unfrozen-sh23-billion The State agency alleged that the firm was involved in an intricate money laundering scheme to hide the source of illicit funds. Legal Banking crime: ATM bombings on the rise, fraudsters cash in on bigger loot News Aggregation Team Tuesday, October 18, 2022 1:00 am http://africa.managersofwealth.com/article/35056/banking-crime-atm-bombings-on-the-rise-fraudsters-cash-in-on-bigger-loot The other growing area targeted by criminals is card fraud, especially for card-not-present transactions. Legal DLA Piper expands its MENA capabilities with new IP Partner appointment News Team Tuesday, October 04, 2022 1:00 am http://africa.managersofwealth.com/article/34955/dla-piper-expands-its-mena-capabilities-with-new-ip-partner-appointment Global law firm DLA Piper has appointed Saba Al Sultani as a Partner in its Intellectual Property and Technology group, based in Dubai Legal Nigerian Investors Petitions Kenya Courts to Release Funds Held in Several Bank Accounts News Aggregation Team Wednesday, September 28, 2022 1:00 am http://africa.managersofwealth.com/article/34918/nigerian-investors-petitions-kenya-courts-to-release-funds-held-in-several-bank-accounts 2,000 Nigerian investors demanding the release of Ksh 1.44 billion ($1.8million) held by Safaricom and four other banks in Kenya. Legal Crypto exchange FTX invested billions in three Kenya startups: report News Aggregation Team Friday, December 02, 2022 12:00 am http://africa.managersofwealth.com/article/35371/crypto-exchange-ftx-invested-billions-in-three-kenya-startups-report FTX was one of the most popular digital tokens trading platforms in Africa FinTech Cybercrimes raise concerns for N30.2tr monthly e-payments News Aggregation Team Tuesday, November 29, 2022 12:00 am http://africa.managersofwealth.com/article/35343/cybercrimes-raise-concerns-for-n302tr-monthly-e-payments Indeed, cybercrime has been projected to worsen as e-payment transactions gain more patronage. FinTech Tech firm to assist banks, other companies in fixing connectivity challenges News Aggregation Team Monday, November 28, 2022 12:00 am http://africa.managersofwealth.com/article/35337/tech-firm-to-assist-banks-other-companies-in-fixing-connectivity-challenges We are here to enable that growth. FinTech NCBA eyes deals for M-Shwari entry into DRC, Ethiopia News Aggregation Team Monday, November 28, 2022 12:00 am http://africa.managersofwealth.com/article/35338/ncba-eyes-deals-for-m-shwari-entry-into-drc-ethiopia This signals that the Kenyan bank will seek to earn commissions from the deals over setting up brick-and-mortar operations in Ghana, Ethiopia and DRC. FinTech Kenya’s DeltaPay taps Provenir for data and risk decisioning platform News Aggregation Team Friday, November 25, 2022 12:00 am http://africa.managersofwealth.com/article/35326/kenyaamprsquos-deltapay-taps-provenir-for-data-and-risk-decisioning-platform The fintech says Provenir’s tech will allow it to scale and provide “millions of unbanked and neglected segments of society” with access to credit. FinTech Acquisitions Rise in Africa Following Investment Stagnation News Aggregation Team Thursday, November 24, 2022 12:00 am http://africa.managersofwealth.com/article/35314/acquisitions-rise-in-africa-following-investment-stagnation The consultancy company suggests that this data indicates a consolidation trend for Africa and that its market is “maturing”. FinTech SAFU and South African Binance users News Aggregation Team Thursday, November 24, 2022 12:00 am http://africa.managersofwealth.com/article/35322/safu-and-south-african-binance-users Through it, a percentage of trading fees have been committed to safeguard users’ existing crypto assets in the event they are lost from any forms of hacking or exploitation. FinTech KBL Insurance Excites Customers with Digital Insurance News Aggregation Team Wednesday, November 23, 2022 12:00 am http://africa.managersofwealth.com/article/35306/kbl-insurance-excites-customers-with-digital-insurance Orji said the essence was to serve customers faster and at lower costs. FinTech Digital technologies open vast business opportunities in Africa News Aggregation Team Tuesday, November 22, 2022 12:00 am http://africa.managersofwealth.com/article/35302/digital-technologies-open-vast-business-opportunities-in-africa Africa is known for its booming mobile money market, which have supplanted bank branches for money transfer purposes. FinTech New report on innovation in Africa finds youth believe the next Mark Zuckerberg could come from the continent News Aggregation Team Thursday, November 17, 2022 12:00 am http://africa.managersofwealth.com/article/35268/new-report-on-innovation-in-africa-finds-youth-believe-the-next-mark-zuckerberg-could-come-from-the-continent The report interviewed 4500 people aged 18 to 35 to find out their perceptions of African-led innovation and if they are influenced by dominant narratives that promote the Global North as superior innovators. FinTech Absa overhauls pricing strategy and rewards programme News Aggregation Team Friday, December 02, 2022 12:00 am http://africa.managersofwealth.com/article/35373/absa-overhauls-pricing-strategy-and-rewards-programme Announces sizeable fee reductions in some categories as it works to ‘deepen’ its relationship with customers. Retail Banking FCMB Group Declares 68% YoY Increase in PBT to N26.5bn News Aggregation Team Thursday, December 01, 2022 12:00 am http://africa.managersofwealth.com/article/35362/fcmb-group-declares-68-yoy-increase-in-pbt-to-n265bn The growth in gross revenue was driven by a 33.1per cent growth in interest income and a 36.1per cent growth in non-interest income. Retail Banking Nigeria’s Titan Trust Bank Profit Surged 52% in 2021 on Loan Book Expansion News Aggregation Team Thursday, December 01, 2022 12:00 am http://africa.managersofwealth.com/article/35366/nigeriaamprsquos-titan-trust-bank-profit-surged-52-in-2021-on-loan-book-expansion Titan Trust Bank also continued to mobilize deposits which rose by 112% in the period to N182.38 billion. Retail Banking SMEDAN, Sterling Bank to grant supportive funding to agro-based SMEs News Aggregation Team Wednesday, November 30, 2022 12:00 am http://africa.managersofwealth.com/article/35356/smedan-sterling-bank-to-grant-supportive-funding-to-agro-based-smes Prospective beneficiaries may apply for financing within the range of N500,000 and N2.5 million. Retail Banking African Bank reports full-year profit growth of nearly 40% News Aggregation Team Wednesday, November 30, 2022 12:00 am http://africa.managersofwealth.com/article/35358/african-bank-reports-full-year-profit-growth-of-nearly-40 Profit after tax grew 38% to R736 million in the year to end September 2022. Retail Banking Sterling Bank Retains “BBB+” Rating with Positive Outlook News Aggregation Team Tuesday, November 29, 2022 12:00 am http://africa.managersofwealth.com/article/35344/sterling-bank-retains-ampldquobbbamprdquo-rating-with-positive-outlook The Bank also has strong Liquidity coverage for the mismatch in the maturity profiles of its deposit and loans, the liquid assets of the Bank provide adequate cushion resulting in Net Liquidity Surplus of N63.5b in the long-term. Retail Banking African Bank adds over 500,000 new accounts – as it eyes a big move to business banking News Aggregation Team Tuesday, November 29, 2022 12:00 am http://africa.managersofwealth.com/article/35347/african-bank-adds-over-500000-new-accounts-ampndash-as-it-eyes-a-big-move-to-business-banking However, one of the most encouraging aspects of the business is the growth in its transactional MyWORLD and credit card accounts and transactions. Retail Banking Absa profit jumps 30 per cent on increased lending News Aggregation Team Tuesday, November 29, 2022 12:00 am http://africa.managersofwealth.com/article/35350/absa-profit-jumps-30-per-cent-on-increased-lending It also benefited from increased investments in government debt securities whose yields have been rising in recent months. Retail Banking Banking, Insurance Sectors’ Contribution to GDP Down 10% to N660.84bn News Aggregation Team Monday, November 28, 2022 12:00 am http://africa.managersofwealth.com/article/35335/banking-insurance-sectorsamprsquo-contribution-to-gdp-down-10-to-n66084bn Analysts blamed the decline in financial institutions and insurance contribution to real GDP on macro economic challenges part of which is the hike in the inflation rate. Retail Banking Ex-Diamond Bank Boss, Otti, Others Float Signature Bank News Aggregation Team Tuesday, November 22, 2022 12:00 am http://africa.managersofwealth.com/article/35299/ex-diamond-bank-boss-otti-others-float-signature-bank He said had decided to give opportunities to the younger generation to pilot the affairs of the Signature Bank. Retail Banking Herbert Wigwe to join Stanbic Nominees, as his controlling stake in Access Bank hits 5% News Aggregation Team Thursday, November 17, 2022 12:00 am http://africa.managersofwealth.com/article/35272/herbert-wigwe-to-join-stanbic-nominees-as-his-controlling-stake-in-access-bank-hits-5 As of December 2021, Stanbic Nominees Nigeria Limited was the only entity or investor with 5% and above stake, accounting for 11.50 per cent controlling stake. Investment Banking 5 key takeaways from Barclays' proposed expansion into the African financial sector News Aggregation Team Thursday, September 15, 2022 1:00 am http://africa.managersofwealth.com/article/34839/5-key-takeaways-from-barclaysamp039-proposed-expansion-into-the-african-financial-sector Barclays, a British multinational universal bank, has planned to expand its banking services in Africa. Investment Banking Coronation Merchant Bank advocates for Responsible Financing to Enhance Sustainability News Aggregation Team Wednesday, August 31, 2022 1:00 am http://africa.managersofwealth.com/article/34729/coronation-merchant-bank-advocates-for-responsible-financing-to-enhance-sustainability The session was the fifth in the company’s interactive webinar series focused on generating solutions to topical economic challenges across the African continent. Investment Banking TCS bags contract from Africa’s Absa Corporate and Investment Bank News Aggregation Team Tuesday, August 23, 2022 1:00 am http://africa.managersofwealth.com/article/34671/tcs-bags-contract-from-africaamprsquos-absa-corporate-and-investment-bank The bank chose the TCS BaNCS Global Securities Platform, a next-generation post-trade processing solution, as part of its strategic transformation initiative. Investment Banking Deutsche Bank to boost team in South Africa News Aggregation Team Friday, August 12, 2022 1:00 am http://africa.managersofwealth.com/article/34610/deutsche-bank-to-boost-team-in-south-africa Pillay was hired by Deutsche earlier this year from South African bank Absa Group Ltd Investment Banking Standard Chartered’s operating profit in Middle East, Africa hits near 10-year high News Aggregation Team Friday, April 29, 2022 1:00 am http://africa.managersofwealth.com/article/33887/standard-charteredamprsquos-operating-profit-in-middle-east-africa-hits-near-10-year-high First-quarter 2022 profits crossed $300mln for the first time in nearly a decade Investment Banking Barclays sells off half of Absa stake for £526m News Aggregation Team Thursday, April 21, 2022 1:00 am http://africa.managersofwealth.com/article/33825/barclays-sells-off-half-of-absa-stake-for-amppound526m The placing was made through Barclays Principal Investments subsidiary, with Absa, Citigroup, Banco Santander and Société Générale arranging the sale. Investment Banking Standard Bank in Talks with ICBC About Exiting Joint Venture News Aggregation Team Tuesday, March 15, 2022 12:00 am http://africa.managersofwealth.com/article/33541/standard-bank-in-talks-with-icbc-about-exiting-joint-venture The combination sought to serve the growing demands of Chinese clients for global commodities, fixed income and other products, though also has some exposure to Russia -- currently a financial pariah after the invasion of Ukraine. Investment Banking MENA investment banking fees totalled $1.4bln in 2021 News Aggregation Team Friday, January 21, 2022 12:00 am http://africa.managersofwealth.com/article/33101/mena-investment-banking-fees-totalled-14bln-in-2021 In 2021, equity capital markets recorded their strongest year in 13 years, producing $334.4 million in fees Investment Banking Standard Chartered Asked to Reveal Zimbabwe CEO’s Fate News Aggregation Team Friday, January 14, 2022 12:00 am http://africa.managersofwealth.com/article/33042/standard-chartered-asked-to-reveal-zimbabwe-ceoamprsquos-fate Mutasa said union members had said that Watungwa hasn’t been seen at work recently. Investment Banking International Monetary Fund (IMF) Staff to Visit Ghana News Team Thursday, December 01, 2022 12:00 am http://africa.managersofwealth.com/article/35363/international-monetary-fund-imf-staff-to-visit-ghana We have had productive discussions with the Ghanaian authorities over the last few months and look forward to our engagement in Accra. Alternative Investments CBN defends naira with $11.24bn in seven months News Aggregation Team Thursday, December 01, 2022 12:00 am http://africa.managersofwealth.com/article/35364/cbn-defends-naira-with-1124bn-in-seven-months In earlier report, the CBN said it had intervened in the markets with $1.65bn, $1.39bn and $1.82bn in January, February and March Alternative Investments Equities Investors Lose N61bn In Bearish Trading News Aggregation Team Thursday, December 01, 2022 12:00 am http://africa.managersofwealth.com/article/35369/equities-investors-lose-n61bn-in-bearish-trading Jaiz Bank went up by 3.66 per cent to close at 85 kobo, while FCMB Group appreciated by 3.08 per cent to close at N3.35, per share. Alternative Investments Senegal: African Development Bank to Invest over €166 Million in Construction of Highway to Open Up the Country’s North News Team Thursday, December 01, 2022 12:00 am http://africa.managersofwealth.com/article/35370/senegal-african-development-bank-to-invest-over-ampeuro166-million-in-construction-of-highway-to-open-up-the-countryamprsquos-north It will contribute to the implementation of the government's strategy to process agricultural products, thereby substantially reducing their transport costs”. Alternative Investments Igbiti: Insurance Industry Most Resilient, Fast Expanding Sector in Nigeria News Aggregation Team Wednesday, November 30, 2022 12:00 am http://africa.managersofwealth.com/article/35354/igbiti-insurance-industry-most-resilient-fast-expanding-sector-in-nigeria We are partners and we urge you all to use your reputable platforms to consistently announce the gospel of insurance Alternative Investments Banks’ Consumer Loans Up 31% to N2.55trn on Rising Inflation News Aggregation Team Wednesday, November 30, 2022 12:00 am http://africa.managersofwealth.com/article/35355/banksamprsquo-consumer-loans-up-31-to-n255trn-on-rising-inflation The CBN had in a report disclosed that banks’ consumer loans grew by 0.17 per cent to N2.08trillion in January 2022, from N2.07trillion in December 2021, accounting for 8.7 per cent of total credit to the private sector. Alternative Investments AXA Mansard Insurance Records 19% Growth in GWP News Aggregation Team Wednesday, November 30, 2022 12:00 am http://africa.managersofwealth.com/article/35357/axa-mansard-insurance-records-19-growth-in-gwp She said the firm’s investment incomes provided strong support for the group performance as well, growing 29 per cent YoY. Alternative Investments Investors unmoved by impressive bank profits News Aggregation Team Tuesday, November 29, 2022 12:00 am http://africa.managersofwealth.com/article/35349/investors-unmoved-by-impressive-bank-profits KCB’s stock price has risen by a marginal 0.26 per cent to Sh37.75 from November 15 when the lender announced a 20.9 per cent net earnings jump to Sh30.4 billion. Alternative Investments FBN Holdings Wins at the Great Place to Work Awards News Aggregation Team Tuesday, November 29, 2022 12:00 am http://africa.managersofwealth.com/article/35351/fbn-holdings-wins-at-the-great-place-to-work-awards FBN Insurance Brokers received Gold Certification while FBNQuest Asset Management Limited and FBNQuest Trustees Limited received Silver certifications to cap a glorious evening for the Group at the event. Alternative Investments Invesco defaults on Sh53m claims amid liquidity crisis News Aggregation Team Friday, November 25, 2022 12:00 am http://africa.managersofwealth.com/article/35332/invesco-defaults-on-sh53m-claims-amid-liquidity-crisis The judge added that Invesco had not demonstrated that it had any grounds of appeal in which the chances of the appeal succeeding, could be anchored. Alternative Investments Blue economy: Nigeria must formulate policies that guarantee investment News Aggregation Team Friday, December 02, 2022 12:00 am http://africa.managersofwealth.com/article/35378/blue-economy-nigeria-must-formulate-policies-that-guarantee-investment The Summit, which is a major maritime event in the year, was themed “Igniting the Blue Economy in Nigeria” Comment, Analysis & Research Rand takes a tumble with Ramaphosa on the brink News Aggregation Team Friday, December 02, 2022 12:00 am http://africa.managersofwealth.com/article/35379/rand-takes-a-tumble-with-ramaphosa-on-the-brink Local unit weakens as much as 4% as market reacts to political instability after Phala Phala report Comment, Analysis & Research Growth in diaspora remittances to Nigeria, other SSAs slows — World Bank News Aggregation Team Thursday, December 01, 2022 12:00 am http://africa.managersofwealth.com/article/35368/growth-in-diaspora-remittances-to-nigeria-other-ssas-slows-ampmdash-world-bank Remittance out turns will depend on the balancing of increasing needs for support from the African overseas labor force, and the availability of incomes in host countries to be remitted. Comment, Analysis & Research Industrial revolution plan to boost manufacturing, says Adebayo News Aggregation Team Wednesday, November 30, 2022 12:00 am http://africa.managersofwealth.com/article/35359/industrial-revolution-plan-to-boost-manufacturing-says-adebayo He added that industries thrive locally when they compete on a global platform urging stakeholders in the sector to team up with the government to ensure that Nigeria becomes a global player. Comment, Analysis & Research Insurers fight for actuaries ahead of accounting change in January News Aggregation Team Tuesday, November 29, 2022 12:00 am http://africa.managersofwealth.com/article/35348/insurers-fight-for-actuaries-ahead-of-accounting-change-in-january Industry experts say small insurers are struggling to retain and hire actuaries due to higher costs associated while multinationals have also been faced with the exit of their employees. Comment, Analysis & Research What it will take for the Reserve Bank to stop hiking rates News Aggregation Team Monday, November 28, 2022 12:00 am http://africa.managersofwealth.com/article/35339/what-it-will-take-for-the-reserve-bank-to-stop-hiking-rates While this position by the central bank means indebted consumers are likely to remain under pressure in the medium term, the situation is not without its positive news. Comment, Analysis & Research New report by African Development Bank, partners finds that 37 African countries have industrialized in last decade News Team Friday, November 25, 2022 12:00 am http://africa.managersofwealth.com/article/35324/new-report-by-african-development-bank-partners-finds-that-37-african-countries-have-industrialized-in-last-decade Top performers not necessarily those with the biggest economies, but countries that generate high manufacturing value-added per capita Comment, Analysis & Research Nigeria’s GDP Growth Slows to 2.25% in Q3 2022 News Aggregation Team Friday, November 25, 2022 12:00 am http://africa.managersofwealth.com/article/35328/nigeriaamprsquos-gdp-growth-slows-to-225-in-q3-2022 The results show that the third quarter’s growth was lower than the second quarter’s growth of 3.54 percent and the same quarter’s growth of 4.03 percent from the previous year. Comment, Analysis & Research Black ownership in banking sector remains low News Aggregation Team Wednesday, November 23, 2022 12:00 am http://africa.managersofwealth.com/article/35310/black-ownership-in-banking-sector-remains-low In a world of borderless financial markets and open economies, the financial sector was rightly identified as the nerve centre of the post-apartheid economy. Comment, Analysis & Research Nigeria’s N500TRN Insurance Industry News Aggregation Team Tuesday, November 22, 2022 12:00 am http://africa.managersofwealth.com/article/35297/nigeriaamprsquos-n500trn-insurance-industry This implies that if potential customers can appreciate the true value of the sector, it will automatically lead to more widespread acceptance. A Comment, Analysis & Research Insurance bosses start accounting system training News Aggregation Team Wednesday, November 30, 2022 12:00 am http://africa.managersofwealth.com/article/35360/insurance-bosses-start-accounting-system-training The training targets CEOs, board directors and heads of finance, ICT, risk and compliance and actuarial services. Tax ‘Nigeria’s tax laws encourage investment’ News Aggregation Team Friday, November 25, 2022 12:00 am http://africa.managersofwealth.com/article/35331/amplsquonigeriaamprsquos-tax-laws-encourage-investmentamprsquo He said further that, “I think with more publicity and engagement with private stakeholders, a lot of some of these challenges that are bedevilling us with investing in port infrastructure can be fixed. Tax Wealth, cash deposits low hanging fruit in expanding tax bracket News Aggregation Team Thursday, November 24, 2022 12:00 am http://africa.managersofwealth.com/article/35316/wealth-cash-deposits-low-hanging-fruit-in-expanding-tax-bracket Income and consumption tax bases are already over-exploited, any further pressure on them may break the cord that holds the economy together. Tax SITA asks for interim audit from the Auditor-General to avoid dodgy books News Aggregation Team Friday, November 18, 2022 12:00 am http://africa.managersofwealth.com/article/35283/sita-asks-for-interim-audit-from-the-auditor-general-to-avoid-dodgy-books SITA has been without a permanent CEO since 2019, but a process to fill the role has already begun. Tax President Ruto tax push suffers blow with Sh13.9bn shortfall in Q1 News Aggregation Team Friday, November 11, 2022 12:00 am http://africa.managersofwealth.com/article/35233/president-ruto-tax-push-suffers-blow-with-sh139bn-shortfall-in-q1 This was 2.94 percent, or Sh13.9 billion, short of the Sh473.2 billion tax target set by the Treasury for the three-month period through to September 2022. Tax Kenya scores big in bid to raise taxes on global firms News Aggregation Team Monday, November 07, 2022 12:00 am http://africa.managersofwealth.com/article/35191/kenya-scores-big-in-bid-to-raise-taxes-on-global-firms A lot has changed and that discussion is still going,” Maurice Oray, KRA’s deputy commissioner for corporate policy, told the Business Daily. Tax South Africa deposits its instrument for ratification of the MLI News Aggregation Team Monday, October 10, 2022 1:00 am http://africa.managersofwealth.com/article/34993/south-africa-deposits-its-instrument-for-ratification-of-the-mli These measures include significant amendments to South Africa’s double tax agreements which will be impacted by the MLI. Tax Mastercard, KBA in Absa credit card royalty tax war News Aggregation Team Monday, October 10, 2022 1:00 am http://africa.managersofwealth.com/article/34994/mastercard-kba-in-absa-credit-card-royalty-tax-war Mastercard argues that the imposition of withholding taxes on the interchange and transaction fees as management and the professional fee will impact the use of its payment solutions in Kenya. Tax Exporters face new pricing pain as KRA increases taxes News Aggregation Team Wednesday, October 05, 2022 1:00 am http://africa.managersofwealth.com/article/34969/exporters-face-new-pricing-pain-as-kra-increases-taxes The new rates that took effect from October 1 are in line with the law that requires the KRA to review inflation tax in tandem with the cost of living measure or the average rate of inflation in the 12 months through June. Tax SARS is coming after these taxpayers in South Africa – looking at luxury homes, cars and rhino horn News Aggregation Team Thursday, September 29, 2022 1:00 am http://africa.managersofwealth.com/article/34928/sars-is-coming-after-these-taxpayers-in-south-africa-ampndash-looking-at-luxury-homes-cars-and-rhino-horn Tax investigations have resulted in notable successes, including legal recovery, civil proceedings and criminal charges Tax Majority of CEOs believe free trade pact will boost intra-Africa deals News Aggregation Team Friday, December 02, 2022 12:00 am http://africa.managersofwealth.com/article/35376/majority-of-ceos-believe-free-trade-pact-will-boost-intra-africa-deals Implementation of the AfCFTA will have a positive effect as early as 2022-23: Survey Regulation,Tax & Compliance Nigeria finance minister says borrowing still sustainable News Aggregation Team Friday, December 02, 2022 12:00 am http://africa.managersofwealth.com/article/35377/nigeria-finance-minister-says-borrowing-still-sustainable The Debt Management Office put Nigeria's total local and foreign debt at $103 billion at the end of June Regulation,Tax & Compliance CIN deepens compliance with new members induction News Aggregation Team Monday, November 28, 2022 12:00 am http://africa.managersofwealth.com/article/35336/cin-deepens-compliance-with-new-members-induction Compliance professionals across the sub-region including policymakers, regulators, law enforcement officers and standard setters will attend the event. Regulation,Tax & Compliance Equity recovers 90pc of Covid restructured loans News Aggregation Team Monday, November 28, 2022 12:00 am http://africa.managersofwealth.com/article/35340/equity-recovers-90pc-of-covid-restructured-loans The lender said last week that restructured loans worth Sh49.4 billion had been fully repaid by the end of September, while borrowers were servicing others worth Sh104.9 billion. Regulation,Tax & Compliance CBK eyes World Bank loans to boost forex reserves News Aggregation Team Monday, November 28, 2022 12:00 am http://africa.managersofwealth.com/article/35341/cbk-eyes-world-bank-loans-to-boost-forex-reserves CBK data shows the stockpile of foreign currencies has dropped 19.70 percent to $7.038 billion (Sh858.64 billion) from $8.765 billion (Sh1.07 trillion) at the beginning of the year. Regulation,Tax & Compliance Protect real estate sector from risks — Regulatory authority News Aggregation Team Monday, November 28, 2022 12:00 am http://africa.managersofwealth.com/article/35342/protect-real-estate-sector-from-risks-ampmdash-regulatory-authority The Special Adviser to Lagos State Governor on Housing, Mrs Toke Benson-Awoyinka, disclosed this in a statement on Sunday to announce the third edition of a conference and exhibition programme for real estate practitioners and potential clients in Lagos. Regulation,Tax & Compliance Liberia: African Development Bank Group approves $5.12 million financing for Emergency Food Production Program News Team Friday, November 25, 2022 12:00 am http://africa.managersofwealth.com/article/35325/liberia-african-development-bank-group-approves-512-million-financing-for-emergency-food-production-program The country’s major crops are rubber, rice, cassava, bananas and palm oil, with cassava and rice being the primary staple food crops. Regulation,Tax & Compliance Treasury orders removal of troubled Kenya Power board chair Yeda News Aggregation Team Friday, November 25, 2022 12:00 am http://africa.managersofwealth.com/article/35327/treasury-orders-removal-of-troubled-kenya-power-board-chair-yeda The Kenya Electrical Trades & Allied Workers Union has constantly demanded the removal of Ms Yeda from the board arguing that she has been behind the company’s shortage of critical materials such as poles, meters and transformers through delayed Regulation,Tax & Compliance Nigeria needs to tap into its natural resources to resolve its foreign debt — Access Bank Chair News Aggregation Team Friday, November 25, 2022 12:00 am http://africa.managersofwealth.com/article/35329/nigeria-needs-to-tap-into-its-natural-resources-to-resolve-its-foreign-debt-ampmdash-access-bank-chair Speaking at the 22nd edition of NECCI Public Relations round-table in Lagos, she said that Nigeria can generate enough revenue from its enormous natural resource to fund the budget and repay its loans. Regulation,Tax & Compliance Karuturi assets on sale as two banks seek to recover Sh1.6 billion News Aggregation Team Friday, November 25, 2022 12:00 am http://africa.managersofwealth.com/article/35330/karuturi-assets-on-sale-as-two-banks-seek-to-recover-sh16-billion The farm has been previously used to cultivate the cut flower,” said the banks in the notice placed by one of the receivers of the assets. Regulation,Tax & Compliance African Development Bank's Sustainable Energy Africa Fund for Africa approves $1 million reimbursable grant to develop bioenergy plants in Ghana and Sierra Leone News Team Friday, December 02, 2022 12:00 am http://africa.managersofwealth.com/article/35372/african-development-bankamp039s-sustainable-energy-africa-fund-for-africa-approves-1-million-reimbursable-grant-to-develop-bioenergy-plants-in-ghana-and-sierra-leone The plants will be co-located with wood processing facilities to provide biomass from sustainably cultivated and certified plantations. ESG Mirova renews its support to Komaza to increase forest cover in Kenya in collaboration with smallholder farmers News Team Friday, December 02, 2022 12:00 am http://africa.managersofwealth.com/article/35375/mirova-renews-its-support-to-komaza-to-increase-forest-cover-in-kenya-in-collaboration-with-smallholder-farmers Komaza has been developing its smallholder forestry scheme for the past 15 years. ESG African Development Bank launches model for deploying green financing across the continent News Team Wednesday, November 30, 2022 12:00 am http://africa.managersofwealth.com/article/35353/african-development-bank-launches-model-for-deploying-green-financing-across-the-continent The African Green Bank initiative, which will be endowed with a trust fund of $1.5 billion, was conceived as part of measures to facilitate access to global finance from the current 3% to 10% annually by 2030. ESG FG Restates Commitment to Achieving Net-Zero Gas Emission News Aggregation Team Tuesday, November 29, 2022 12:00 am http://africa.managersofwealth.com/article/35345/fg-restates-commitment-to-achieving-net-zero-gas-emission He noted that the event came at a time when global efforts were geared towards achieving lesser emissions. ESG List of all Award Winners at the 6th Sustainability and Social Investment Awards (SSI) News Aggregation Team Tuesday, November 29, 2022 12:00 am http://africa.managersofwealth.com/article/35346/list-of-all-award-winners-at-the-6th-sustainability-and-social-investment-awards-ssi 25 institutions and 12 individuals including Vice President of Ghana, Dr. Mahamudu Bawumia, have been honoured for their outstanding performance and contribution to society through their remarkable sustainability and social programmes ESG African climate insurer targets Kenya as its eighth customer News Aggregation Team Wednesday, November 23, 2022 12:00 am http://africa.managersofwealth.com/article/35303/african-climate-insurer-targets-kenya-as-its-eighth-customer The loss and damage conversation that came up during the Egypt conference was very timely. ESG Nedbank, Microsoft South Africa collaborate to drive pan-African sustainability capabilities News Aggregation Team Friday, November 18, 2022 12:00 am http://africa.managersofwealth.com/article/35274/nedbank-microsoft-south-africa-collaborate-to-drive-pan-african-sustainability-capabilities With more than 13 different channels of execution, this is one of the most comprehensive approaches for targeting the UN SDGs, enabling organisations of all types, sizes and sectors to meet the new sustainability imperatives. ESG Africa’s share of global green bonds issued in 2021 was 0.26% – AfDB News Aggregation Team Friday, November 18, 2022 12:00 am http://africa.managersofwealth.com/article/35276/africaamprsquos-share-of-global-green-bonds-issued-in-2021-was-026-ampndash-afdb Africa's was the lowest share of any region in the world ESG COP27: experts explore avenues to mobilize more robust financing for climate Action News Team Tuesday, November 15, 2022 12:00 am http://africa.managersofwealth.com/article/35251/cop27-experts-explore-avenues-to-mobilize-more-robust-financing-for-climate-action Songwe said investment priorities must encompass transformation of the energy system, address developing countries’ growing vulnerability to climate change and undo earlier harm to natural capital and biodiversity. ESG Kenya eyes 100pc shift to clean energy by 2028 News Aggregation Team Friday, November 11, 2022 12:00 am http://africa.managersofwealth.com/article/35231/kenya-eyes-100pc-shift-to-clean-energy-by-2028 During the interview on the sidelines of the COP27 climate summit in Egypt, the President said Kenya currently gets more than 90 percent of its electricity and 74 percent of its overall energy from renewable sources. ESG W’Bank: Developing Countries Face Growing Risks from COVID-19 Induced Fragility, Non-transparent Debt News Aggregation Team Wednesday, February 16, 2022 12:00 am http://africa.managersofwealth.com/article/33334/wamprsquobank-developing-countries-face-growing-risks-from-covid-19-induced-fragility-non-transparent-debt The World Bank stressed that rising inflation and interest rate increases, pose further challenges to recovery and advised that developing countries need to focus on creating healthier financial sectors. Covid-19 Michael Sachs | Ramaphosa must level with SA: Income grant means tax hikes News Aggregation Team Thursday, February 10, 2022 12:00 am http://africa.managersofwealth.com/article/33275/michael-sachs-ramaphosa-must-level-with-sa-income-grant-means-tax-hikes By then the grant would have been in place for five years, and it does not make sense to think of it as temporary. Covid-19 Investec tells staff in South Africa to get vaccinated – or pay for their own tests News Aggregation Team Tuesday, February 08, 2022 12:00 am http://africa.managersofwealth.com/article/33257/investec-tells-staff-in-south-africa-to-get-vaccinated-ampndash-or-pay-for-their-own-tests Many companies in Africa’s most-industrialized nation are mandating workers get vaccinated to return to office. Covid-19 Adebimpe: How Nigerian Banks Survived COVID-9 Turbulence News Aggregation Team Monday, January 17, 2022 12:00 am http://africa.managersofwealth.com/article/33051/adebimpe-how-nigerian-banks-survived-covid-9-turbulence Now the global economy is on the recovery path and we believe it will be sustainable considering the numerous measures being implemented by governments across the globe to tackle the pandemic once and for all. Covid-19 Can employers require unvaccinated employees to take PCR COVID-19 tests regularly. . . at their own cost? News Team Wednesday, December 08, 2021 12:00 am http://africa.managersofwealth.com/article/32743/can-employers-require-unvaccinated-employees-to-take-pcr-covid-19-tests-regularly-at-their-own-cost The question of whether the production of a negative test is one aspect that an employer must consider when implementing a testing regime. Covid-19 Warning over new lockdown restrictions for South Africa News Aggregation Team Monday, November 29, 2021 12:00 am http://africa.managersofwealth.com/article/32661/warning-over-new-lockdown-restrictions-for-south-africa Business4SA chair Martin Kingston said Ramaphosa should avoid the reintroduction of a stricter lockdown and instead take steps to raise vaccination rates. Covid-19 Vaccination status and flexible workstyle influence consumer optimism News Team Monday, November 29, 2021 12:00 am http://africa.managersofwealth.com/article/32672/vaccination-status-and-flexible-workstyle-influence-consumer-optimism Overall, 61% of respondents are optimistic about the future, and only 18% are not. Covid-19 New Covid variant roils global markets with oil sinking 5% News Aggregation Team Friday, November 26, 2021 12:00 am http://africa.managersofwealth.com/article/32659/new-covid-variant-roils-global-markets-with-oil-sinking-5 Many of these mutations are linked to increased antibody resistance Covid-19 Afreximbank and the International Islamic Trade Finance Corporation (ITFC) ratify US$250 million finance facility to Support Africa News Team Thursday, November 11, 2021 12:00 am http://africa.managersofwealth.com/article/32526/afreximbank-and-the-international-islamic-trade-finance-corporation-itfc-ratify-us250-million-finance-facility-to-support-africa The facility significantly facilitates Afreximbank’s execution of strategic interventions. Covid-19 The Banking Industry Withstands Tough Times News Team Thursday, October 21, 2021 1:00 am http://africa.managersofwealth.com/article/32335/the-banking-industry-withstands-tough-times When the pandemic struck last year, the central bank decided to reduce the Prudential Capital Adequacy Ratio (CAR) from 15 percent to 12.5 percent for banks operating in Botswana. Covid-19