Managers of Wealth - Africa http://africa.managersofwealth.com/ Tue, 03 Aug 2021 13:54:38 BST part of MediaG8way Group http://africa.managersofwealth.com/ http://africa.managersofwealth.com/assets/images/logo.png Managers of Wealth - Africa KohanaPHP Invest Africa and Standard Chartered Private Bank announce strategic partnership News Team Tuesday, July 27, 2021 1:00 am http://africa.managersofwealth.com/article/31596/invest-africa-and-standard-chartered-private-bank-announce-strategic-partnership The new collaboration will involve a programme of targeted business development opportunities in key hubs such as London, Dubai and Cape Town Wealth and Asset Management Lombard Odier partners with Access To Water to distribute clean water in Senegal News Aggregation Team Friday, July 23, 2021 1:00 am http://africa.managersofwealth.com/article/31577/lombard-odier-partners-with-access-to-water-to-distribute-clean-water-in-senegal Access To Water is a Swiss foundation committed to improving access to drinking water in regions hit by water stress. Wealth and Asset Management IQ-EQ up for two awards at the Drawdown Awards 2021 News Team Wednesday, July 21, 2021 1:00 am http://africa.managersofwealth.com/article/31552/iq-eq-up-for-two-awards-at-the-drawdown-awards-2021 This includes the launch of IQ-EQ Compass- our integrated ESG - service offering that helps our clients build sustainable value and reputational resilience. Wealth and Asset Management The growing popularity of Foundations in Africa News Team Friday, July 09, 2021 1:00 am http://africa.managersofwealth.com/article/31465/the-growing-popularity-of-foundations-in-africa The most common vehicle used in estate planning is a Trust, a structure derived from the common law concept. Wealth and Asset Management Towards the New Normal, Chapter Two: Recover News Team Thursday, July 08, 2021 1:00 am http://africa.managersofwealth.com/article/31460/towards-the-new-normal-chapter-two-recover Going forward, these platforms will be further implemented to offer secure, stable and high-quality services for virtual cooperation, meetings and events Wealth and Asset Management MENA wealth management remains resilient News Aggregation Team Thursday, July 01, 2021 1:00 am http://africa.managersofwealth.com/article/31385/mena-wealth-management-remains-resilient ‘Concepts such as ESG/sustainable investing, and green sukuk are also rising in prominence and gaining investor interest’ Wealth and Asset Management World Wealth Report 2021 News Team Wednesday, June 30, 2021 1:00 am http://africa.managersofwealth.com/article/31358/world-wealth-report-2021 The 25th anniversary edition of the World Wealth Report found that it will be critical to invest in talent and technology to provide hybrid advisory services, based on human interaction and digital tools Wealth and Asset Management Global Wealth Report 2021 News Team Tuesday, June 22, 2021 1:00 am http://africa.managersofwealth.com/article/31300/global-wealth-report-2021 Credit Suisse Research Institute published its twelfth Global Wealth Report showing continued wealth growth Wealth and Asset Management Effects of COVID on household wealth News Team Tuesday, June 22, 2021 1:00 am http://africa.managersofwealth.com/article/31301/effects-of-covid-on-household-wealth The short-term consequences of the COVID-19 pandemic for household wealth are now much clearer than they were last summer. Wealth and Asset Management Mercer's 2021 Cost of Living city ranking News Team Tuesday, June 22, 2021 1:00 am http://africa.managersofwealth.com/article/31310/merceramp039s-2021-cost-of-living-city-ranking Compared to last year, Tokyo and Zurich each dropped one spot to fourth and fifth positions, respectively. Wealth and Asset Management Barclays appoints Chairman of Technology Investment Banking for Europe, the Middle East and Africa News Team Tuesday, August 03, 2021 1:00 am http://africa.managersofwealth.com/article/31655/barclays-appoints-chairman-of-technology-investment-banking-for-europe-the-middle-east-and-africa He will be responsible for enhancing the strategic focus of Barclays’ coverage for technology clients in EMEA, and developing client relationships in this sector. Executive Moves Saad Toma named General Manager, IBM Middle East and Africa News Team Thursday, July 29, 2021 1:00 am http://africa.managersofwealth.com/article/31621/saad-toma-named-general-manager-ibm-middle-east-and-africa Mr. Toma brings deep industry, services and technology expertise and over 30 years of experience at IBM working across multiple geographies Executive Moves Barclays appoints Co-Head of M&A EMEA News Team Wednesday, July 28, 2021 1:00 am http://africa.managersofwealth.com/article/31612/barclays-appoints-co-head-of-mampampa-emea Derek Shakespeare is appointed Chairman of UK M&A. Executive Moves Barclays appoints Pier Luigi Colizzi as Head of Investment Banking, Continental Europe News Team Thursday, July 22, 2021 1:00 am http://africa.managersofwealth.com/article/31563/barclays-appoints-pier-luigi-colizzi-as-head-of-investment-banking-continental-europe Pier Luigi will retain M&A responsibilities in Europe and more details on the M&A leadership structure in the region will be shared in due course. Executive Moves Should CBN enforce gender parity on the board of Nigerian Banks? News Aggregation Team Thursday, July 22, 2021 1:00 am http://africa.managersofwealth.com/article/31567/should-cbn-enforce-gender-parity-on-the-board-of-nigerian-banks Suffice to say that it is with keen interest that her next moves will be watched and analysed. Executive Moves Mozambique: 'Resident Inspector' Appointed for Standard Bank News Aggregation Team Wednesday, July 21, 2021 1:00 am http://africa.managersofwealth.com/article/31556/mozambique-amp039resident-inspectoramp039-appointed-for-standard-bank There can be little doubt that Chilaule will effectively be running the bank, which is mostly owned by South African capital, at least until a definitive new Chief Executive Officer can be appointed. Executive Moves BNP Paribas Switzerland WM appoints head of Middle East and Africa News Aggregation Team Friday, July 16, 2021 1:00 am http://africa.managersofwealth.com/article/31517/bnp-paribas-switzerland-wm-appoints-head-of-middle-east-and-africa Ramzi Mouawad now reports directly to Hubert Musseau, CEO BNP Paribas Wealth Management Switzerland & Emerging Markets. Executive Moves GTB appoints new board chairpersons News Aggregation Team Friday, July 16, 2021 1:00 am http://africa.managersofwealth.com/article/31520/gtb-appoints-new-board-chairpersons The group’s board will be chaired by Sola Oyinlola, while Agbaje, who has been moved from his managing director role at GTB, is its new CEO. Executive Moves FCMB appoints Yemisi Edun to replace Adam Nuru as CEO News Aggregation Team Wednesday, July 14, 2021 1:00 am http://africa.managersofwealth.com/article/31502/fcmb-appoints-yemisi-edun-to-replace-adam-nuru-as-ceo Ms Edun, the bank's former executive director/chief financial officer, was appointed in an acting capacity in January. Executive Moves Standard Chartered Appoints Sustainable Finance Head News Aggregation Team Wednesday, July 14, 2021 1:00 am http://africa.managersofwealth.com/article/31506/standard-chartered-appoints-sustainable-finance-head The new head will work closely with Standard Chartered’s senior management and broader sustainable finance team Executive Moves Group Asks FG to Probe Ex-Bank Director $40m Fraud Allegation News Aggregation Team Monday, July 19, 2021 1:00 am http://africa.managersofwealth.com/article/31530/group-asks-fg-to-probe-ex-bank-director-40m-fraud-allegation The group thus urged the relevant authorities, including the Economic and Financial Crimes Commission (EFCC) to carry out a holistic investigation in unveiling such a suspicious amount of money. Legal Bank account details stolen in major insurance hack in South Africa News Aggregation Team Friday, July 16, 2021 1:00 am http://africa.managersofwealth.com/article/31522/bank-account-details-stolen-in-major-insurance-hack-in-south-africa The breach affected short-term insurance customers whose debit orders are processed via brokers who use or have used the Qsure service, dating back to 2014. Legal These are the banking scams you should look out for in South Africa right now – with fraud on the rise News Aggregation Team Friday, July 16, 2021 1:00 am http://africa.managersofwealth.com/article/31524/these-are-the-banking-scams-you-should-look-out-for-in-south-africa-right-now-ampndash-with-fraud-on-the-rise Somewhat more concerning is the slight increase in those who claim to have been victims of fraud, up from 30% in 2020 to 32% in 2021, they said. Legal New judgment highlights importance of text, context and purpose in interpreting contracts News Aggregation Team Wednesday, July 14, 2021 1:00 am http://africa.managersofwealth.com/article/31498/new-judgment-highlights-importance-of-text-context-and-purpose-in-interpreting-contracts The SCA highlighted that an issue that has long troubled courts is how to marry the expansive approach to interpretation adopted in the Endumeni case with the parol evidence rule, which remains an important principle and part of South African law. Legal Court rules on validity and enforceability of time limitation clauses News Aggregation Team Wednesday, July 14, 2021 1:00 am http://africa.managersofwealth.com/article/31499/court-rules-on-validity-and-enforceability-of-time-limitation-clauses In the case, MEC Dept of Transport KZN v Raubex KZN (Pty) Ltd and another, the Department of Transport for KwaZulu-Nata and construction company Raubex agreed a contract for routine road maintenance. Legal Hogan Lovells hosts third leg of Business Leaders Series to foster dialogue with decision makers on opportunities in North Africa News Team Wednesday, July 14, 2021 1:00 am http://africa.managersofwealth.com/article/31508/hogan-lovells-hosts-third-leg-of-business-leaders-series-to-foster-dialogue-with-decision-makers-on-opportunities-in-north-africa The North Africa event will be led by core members of Hogan Lovells Africa practice and feature leading private sector players and investors to discuss the latest industry and economic developments. Legal Bob Diamond’s Atlas Mara faces High Court battle over bank deal News Aggregation Team Sunday, July 11, 2021 1:00 am http://africa.managersofwealth.com/article/31474/bob-diamondamprsquos-atlas-mara-faces-high-court-battle-over-bank-deal The case comes as Atlas Mara continues to retreat from Africa Legal Capitec and Absa say 'fake billionaire' lied about partnerships News Aggregation Team Friday, July 09, 2021 1:00 am http://africa.managersofwealth.com/article/31462/capitec-and-absa-say-amp039fake-billionaireamp039-lied-about-partnerships Last week, TV personality Somizi Mhlongo featured Lamba on an Instagram broadcast, with the latter making an offer to Mhlongo's followers to buy shares in his new company at a "special" price. Legal Transferring Bitcoin from Luno to overseas exchanges is a crime News Aggregation Team Monday, June 28, 2021 1:00 am http://africa.managersofwealth.com/article/31352/transferring-bitcoin-from-luno-to-overseas-exchanges-is-a-crime The document goes on to warn that breaking these regulations is a criminal offence. Legal SA Crypto firm AfriCrypt allegedly defrauds investors of over R54bn; founders flee to UK News Aggregation Team Thursday, June 24, 2021 1:00 am http://africa.managersofwealth.com/article/31331/sa-crypto-firm-africrypt-allegedly-defrauds-investors-of-over-r54bn-founders-flee-to-uk FNB risk spokesperson Nadiah Maharaj spoke to Business Report and refused to acknowledge any relationship with the fraud-accused company. Legal BCG launches its BCG Platinion subsidiary in Morocco News Aggregation Team Tuesday, August 03, 2021 1:00 am http://africa.managersofwealth.com/article/31656/bcg-launches-its-bcg-platinion-subsidiary-in-morocco “North Africa is a critical element of BCG’s global, digital expansion plan; and ensuring that we have feet on the ground in the region is the first step in our commitment to bringing the latest technologies and solutions to the market.” FinTech Central Bank Governor: South Africa's Digital Currency Study Ongoing News Aggregation Team Monday, August 02, 2021 1:00 am http://africa.managersofwealth.com/article/31646/central-bank-governor-south-africaamp039s-digital-currency-study-ongoing However, as the recent Mybroadband report quotes Kganyago explaining, the SARB’s e-rand study will also seek to understand the feasibility of issuing the CBDC for retail purposes. FinTech The Fintech Landscape of South Africa News Aggregation Team Monday, August 02, 2021 1:00 am http://africa.managersofwealth.com/article/31647/the-fintech-landscape-of-south-africa Despite current economic challenges with some of them, the five nations do still represent large populations and emerging markets and opportunities. FinTech Digital Transformation: A Necessary Disruption News Aggregation Team Friday, July 30, 2021 1:00 am http://africa.managersofwealth.com/article/31636/digital-transformation-a-necessary-disruption A number of banks in the economy have branches although off late banks have reduced the reliance on these branches and are attempting to replace expensive branches with inexpensive technologies. FinTech How Emotional Design fits inside a great CX News Team Thursday, July 29, 2021 1:00 am http://africa.managersofwealth.com/article/31620/how-emotional-design-fits-inside-a-great-cx Reviewing the various research it’s easy to conclude that customers who have an emotional connection with a brand have a 300% higher lifetime value FinTech Uganda's central bank says new technologies offer mixed bag to banking industry News Aggregation Team Wednesday, July 28, 2021 1:00 am http://africa.managersofwealth.com/article/31602/ugandaamp039s-central-bank-says-new-technologies-offer-mixed-bag-to-banking-industry While the transformation may polarize the market by excluding those segments with low levels of digital and financial literacy FinTech Nigeria to Launch Digital Currency, 'E-Naira', in Oct - Central Bank News Aggregation Team Wednesday, July 28, 2021 1:00 am http://africa.managersofwealth.com/article/31603/nigeria-to-launch-digital-currency-amp039e-nairaamp039-in-oct-central-bank Nigeria barred its banks and financial institutions from dealing in or facilitating transactions in cryptocurrencies in February. FinTech Young population to boost asset management industry in Africa News Aggregation Team Wednesday, July 28, 2021 1:00 am http://africa.managersofwealth.com/article/31613/young-population-to-boost-asset-management-industry-in-africa Growing adoption of digital technology seen spurring demand for investment products FinTech More Nigerian banks are using chatbots to serve customers, but with mixed results News Team Tuesday, July 27, 2021 1:00 am http://africa.managersofwealth.com/article/31593/more-nigerian-banks-are-using-chatbots-to-serve-customers-but-with-mixed-results Nigerian banks have started to use chatbots despite the inherent challenges of low adoption of digital technology, poor internet access, limited number of smartphones users and even security concerns. FinTech Namibia Central Bank to Complete Crypto Study By April 2022 — Governor Says Current Laws Do not Permit Use of Digital Assets News Aggregation Team Monday, July 26, 2021 1:00 am http://africa.managersofwealth.com/article/31590/namibia-central-bank-to-complete-crypto-study-by-april-2022-ampmdash-governor-says-current-laws-do-not-permit-use-of-digital-assets Namibia, as a member of CMA, is obliged to pursue foreign exchange and monetary policies that are consistent with those of the three other member countries. FinTech Kenya drops China debt relief bid as banks resist News Aggregation Team Tuesday, August 03, 2021 1:00 am http://africa.managersofwealth.com/article/31657/kenya-drops-china-debt-relief-bid-as-banks-resist The Chinese embassy in Nairobi acknowledged the funding hitch, adding that the matter was being addressed by officials of the two countries. Retail Banking UBA’s Africa Presence As Elixir for Remittances News Team Tuesday, August 03, 2021 1:00 am http://africa.managersofwealth.com/article/31659/ubaamprsquos-africa-presence-as-elixir-for-remittances They are also low relative to the average rate for developing countries. Retail Banking Unity Bank records N23bn half-year gross earnings News Aggregation Team Tuesday, August 03, 2021 1:00 am http://africa.managersofwealth.com/article/31663/unity-bank-records-n23bn-half-year-gross-earnings The lender said it also sustained growth trajectory in its assets as total assets for the period rose by 11 per cent to N547.37bn from N492.02bn as of December 31, 2020. Retail Banking South Africa Mulls Stake in Lender as it Covets a State Bank News Aggregation Team Monday, August 02, 2021 1:00 am http://africa.managersofwealth.com/article/31641/south-africa-mulls-stake-in-lender-as-it-covets-a-state-bank Government wants to take up central bank’s stake in the lender Retail Banking Capitec boss Gerrie Fourie on the future of South Africa’s banking sector News Aggregation Team Monday, August 02, 2021 1:00 am http://africa.managersofwealth.com/article/31643/capitec-boss-gerrie-fourie-on-the-future-of-south-africaamprsquos-banking-sector “I am a strong believer in looking for opportunities. You can go to Switzerland where everything works but there are no opportunities, or work within the South African market where not everything works but there are lots of opportunities,” Retail Banking Unity Bank’s Profit Before Tax up 34% to N1.50bn in H1 2021 News Aggregation Team Monday, August 02, 2021 1:00 am http://africa.managersofwealth.com/article/31651/unity-bankamprsquos-profit-before-tax-up-34-to-n150bn-in-h1-2021 A major highlight of the result is the growth in the bank’s loan book, which saw a 22per cent increase to N246.90 billion within the period compared to N202.08 billion recorded in H2 2020. Retail Banking The Mauritius Commercial Bank Limited signs a USD 20M term loan facility with Bank of Kigali Plc to support its strategic growth objectives News Aggregation Team Friday, July 30, 2021 1:00 am http://africa.managersofwealth.com/article/31640/the-mauritius-commercial-bank-limited-signs-a-usd-20m-term-loan-facility-with-bank-of-kigali-plc-to-support-its-strategic-growth-objectives MCB, with a standing of more than 183 years, remains a key player within the African landscape. Retail Banking Fresh lockdown dims Rwandan banks' hopes News Aggregation Team Thursday, July 29, 2021 1:00 am http://africa.managersofwealth.com/article/31627/fresh-lockdown-dims-rwandan-banksamp039-hopes “We have been doing loan loss provisions every month from last year, which we saw was the prudent thing to do, the lockdowns have had a big impact on the economy and our business.” Retail Banking Ecobank Group H1 2021 Results: Performance Surges as Doubts Hang Over Nigeria News Aggregation Team Thursday, July 29, 2021 1:00 am http://africa.managersofwealth.com/article/31629/ecobank-group-h1-2021-results-performance-surges-as-doubts-hang-over-nigeria Deposit from customers grew by +21.66% to N7.86trn from N6.46trn in H1 2020. Retail Banking Ecobank’s Half-Year Profit Jumps By 33%, Revenue Rises News Aggregation Team Wednesday, July 28, 2021 1:00 am http://africa.managersofwealth.com/article/31611/ecobankamprsquos-half-year-profit-jumps-by-33-revenue-rises At the end of H1 2021, Ecobank’s total assets increased to N11.02tn from N10.38tn in December 2020. Retail Banking FBNQuest Lists Series 19 Commercial Paper on FMDQ Securities Exchange News Aggregation Team Wednesday, July 28, 2021 1:00 am http://africa.managersofwealth.com/article/31607/fbnquest-lists-series-19-commercial-paper-on-fmdq-securities-exchange The company in a statement said the Series 19 CP, which is part of the bank’s N100 billion CP Program, will help the organisation meet its short-term liquidity needs and grant them access to alternative and cheaper source of funding. Investment Banking Investment banking fees in MENA dip to $591mln in H1 2021 News Aggregation Team Monday, July 26, 2021 1:00 am http://africa.managersofwealth.com/article/31584/investment-banking-fees-in-mena-dip-to-591mln-in-h1-2021 Equity capital market underwriting fees at the highest since 2018 Investment Banking Vista Bank Acquires BNP Paribas’ Guinea News Aggregation Team Tuesday, July 20, 2021 1:00 am http://africa.managersofwealth.com/article/31545/vista-bank-acquires-bnp-paribasamprsquo-guinea The acquisition adds to Vista’s existing banking operations in Guinea, in addition to its banks in Burkina Faso, Sierra Leone and The Gambia. Investment Banking Stanbic Bank named ‘Best Investment Bank’ in Euromoney 2021 Awards News Aggregation Team Monday, July 19, 2021 1:00 am http://africa.managersofwealth.com/article/31539/stanbic-bank-named-amplsquobest-investment-bankamprsquo-in-euromoney-2021-awards In 2020, in the wake of the pandemic, Stanbic Bank played a key role in economic recovery through forming partnerships to mobilize resources to combat the COVID-19 pandemic. Investment Banking CDC Group announces US$50m trade finance facility with Ecobank as part of its Covid-19 response News Aggregation Team Friday, July 16, 2021 1:00 am http://africa.managersofwealth.com/article/31521/cdc-group-announces-us50m-trade-finance-facility-with-ecobank-as-part-of-its-covid-19-response Provides systemic liquidity and supports vital supply chains across Africa’s markets; Sustains and increases access to goods and services during the pandemic; Bolsters economic opportunities and inclusive growth, in markets such as Togo, Burkina Fas Investment Banking Africa’s best investment bank 2021: Standard Bank News Aggregation Team Thursday, July 15, 2021 1:00 am http://africa.managersofwealth.com/article/31510/africaamprsquos-best-investment-bank-2021-standard-bank Global banks remain strong competitors to local and regional firms like Standard Bank in the international debt capital markets and in big M&A deals. Investment Banking Africa’s best bank for transaction services 2021: Citi News Aggregation Team Thursday, July 15, 2021 1:00 am http://africa.managersofwealth.com/article/31512/africaamprsquos-best-bank-for-transaction-services-2021-citi The business this year ranged from structuring supply chain finance for Safaricom in Kenya, to providing trade finance to cotton farmers in Togo and helping automate annuity payments by Sanlam Life Insurance. Investment Banking Deutsche Bank finances critical health and transportation infrastructure in Ghana News Team Thursday, July 08, 2021 1:00 am http://africa.managersofwealth.com/article/31452/deutsche-bank-finances-critical-health-and-transportation-infrastructure-in-ghana The 203 million euro financing agreements, which benefit from 95 percent insurance cover by the African Trade Insurance agency ("ATI"), will fund four health and two transportation projects in Ghana Investment Banking StanChart Q1 net profit up 19pc to Sh2.4bn News Aggregation Team Tuesday, May 25, 2021 1:00 am http://africa.managersofwealth.com/article/31060/stanchart-q1-net-profit-up-19pc-to-sh24bn Non-interest income rose 11 per cent to Sh2.48 billion to make up for the reduced net interest income. Investment Banking De-risking the World's Future Growth Engine: African Trade Insurance (ATI) joins The Canada-Africa Chamber of Business News Team Wednesday, May 19, 2021 1:00 am http://africa.managersofwealth.com/article/31027/de-risking-the-worldamp039s-future-growth-engine-african-trade-insurance-ati-joins-the-canada-africa-chamber-of-business ATI has a good market position in Africa, based on the scale of its underwriting penetration and benefits from significant local expertise and understanding in a number of African countries. Investment Banking Zenith Bank MD calls for increased impact investment in Africa News Aggregation Team Tuesday, August 03, 2021 1:00 am http://africa.managersofwealth.com/article/31658/zenith-bank-md-calls-for-increased-impact-investment-in-africa Onyeagwu expressed optimism that the African Continental Free Trade Area (AfCFTA) initiative will grant investors access to the entire continent. Alternative Investments FCMB Group Plc earns N8.9 billion in Profit Before Tax for HY 2021 News Team Tuesday, August 03, 2021 1:00 am http://africa.managersofwealth.com/article/31662/fcmb-group-plc-earns-n89-billion-in-profit-before-tax-for-hy-2021 Operating expenses rose 9% Year-on-Year to ₦48.0 billion in the first half of 2021, largely due to increased regulatory costs. Alternative Investments Turning the Kenyan Capital into Africa’s Financial Hub News Aggregation Team Monday, August 02, 2021 1:00 am http://africa.managersofwealth.com/article/31645/turning-the-kenyan-capital-into-africaamprsquos-financial-hub Nairobi’s advantages include political stability and good connectivity, as well as a stable exchange rate and diverse pool of talent Alternative Investments Zenith boss seeks impact investment in Africa News Aggregation Team Monday, August 02, 2021 1:00 am http://africa.managersofwealth.com/article/31652/zenith-boss-seeks-impact-investment-in-africa Onyeagwu explained that impact investment was one which yields optimal returns for investors and guarantees value for stakeholders and society in general. Alternative Investments Absa Bank Kenya breaks tradition and goes out looking to help grow SMEs News Aggregation Team Friday, July 30, 2021 1:00 am http://africa.managersofwealth.com/article/31633/absa-bank-kenya-breaks-tradition-and-goes-out-looking-to-help-grow-smes Business Banking Director of Absa Bank Kenya Elizabeth Wasunna-Ochwa believes Africa is still an open playing field and there is plenty of room to include SMEs. Alternative Investments African Development Bank loans Seychelles $20 million to cover budget gap News Team Friday, July 30, 2021 1:00 am http://africa.managersofwealth.com/article/31638/african-development-bank-loans-seychelles-20-million-to-cover-budget-gap The 2021 budget approved in April by the National Assembly is for a sum of SCR 11 billion ($519 million) and it gives more attention to the fisheries sector and relaunching the tourism industry. Alternative Investments Four Funds With $7 Billion in Adani Have History of Wrong Bets News Aggregation Team Thursday, July 29, 2021 1:00 am http://africa.managersofwealth.com/article/31630/four-funds-with-7-billion-in-adani-have-history-of-wrong-bets Because the funds are registered in the tax haven of Mauritius, their ownership structure is opaque. Alternative Investments Kenya deal with UK aims to turn Nairobi into Africa’s financial hub News Aggregation Team Thursday, July 29, 2021 1:00 am http://africa.managersofwealth.com/article/31617/kenya-deal-with-uk-aims-to-turn-nairobi-into-africaamprsquos-financial-hub Co-operation agreement intends to help drive international investment into the east African city Alternative Investments Treasury targets Sh60 billion in August bonds sale News Aggregation Team Wednesday, July 28, 2021 1:00 am http://africa.managersofwealth.com/article/31610/treasury-targets-sh60-billion-in-august-bonds-sale Last month’s bond, which also had an advertised target of Sh60 billion, raised bids worth Sh116.9 billion out of which the government took up Sh79.9 billion. Alternative Investments Old Mutual boosts savings culture with insurance product News Aggregation Team Tuesday, July 27, 2021 1:00 am http://africa.managersofwealth.com/article/31597/old-mutual-boosts-savings-culture-with-insurance-product The underwriter said in a statement on Monday that it had become more important to focus on a goal and work towards it while at the same time ensuring protection from unpredictable circumstances. Alternative Investments Meet Nigerian women leading top banks as MDs, CEOs News Aggregation Team Monday, August 02, 2021 1:00 am http://africa.managersofwealth.com/article/31642/meet-nigerian-women-leading-top-banks-as-mds-ceos Six women are now managing directors of banks, a development that pushes against decades of male dominance in the sector. Comment, Analysis & Research Review of 2 Nigerian banks outlook to negative is “serious issue” – Banking Consultant News Aggregation Team Thursday, July 29, 2021 1:00 am http://africa.managersofwealth.com/article/31626/review-of-2-nigerian-banks-outlook-to-negative-is-ampldquoserious-issueamprdquo-ampndash-banking-consultant “This is a very serious issue even though I don’t know the quantum of the downgrade [review], but once it is negative, then it’s a very serious matter." Comment, Analysis & Research FBNBANK Tops Bank’s Positive Media Sentiments Index Ratings News Aggregation Team Thursday, July 29, 2021 1:00 am http://africa.managersofwealth.com/article/31623/fbnbank-tops-bankamprsquos-positive-media-sentiments-index-ratings A tone of news narrative as projected through the media has the potential to influence a bank’s existence especially if unchecked Comment, Analysis & Research Internal Payments Fraud Is On The Rise And Costing SA Businesses News Aggregation Team Thursday, July 29, 2021 1:00 am http://africa.managersofwealth.com/article/31624/internal-payments-fraud-is-on-the-rise-and-costing-sa-businesses The same study also found that once victimised, an organisation is unlikely to recover the losses. Comment, Analysis & Research Capitec to add 300 jobs, as CEO says SA offers 'massive opportunities' News Aggregation Team Wednesday, July 28, 2021 1:00 am http://africa.managersofwealth.com/article/31605/capitec-to-add-300-jobs-as-ceo-says-sa-offers-amp039massive-opportunitiesamp039 As many people and some businesses are likely questioning the wisdom of ploughing more money into South Africa after the recent unrest, Capitec CEO Gerrie Fourie says he sees ample opportunities. Comment, Analysis & Research IMF retains 2.5% economic growth projection for Nigeria News Aggregation Team Wednesday, July 28, 2021 1:00 am http://africa.managersofwealth.com/article/31608/imf-retains-25-economic-growth-projection-for-nigeria The latest projections were contained in the July edition of the IMF’s World Economic Outlook released yesterday. Comment, Analysis & Research Nearly 1,000 businesses closures in South Africa in the first half of 2021 – these are the industries most affected News Aggregation Team Wednesday, July 28, 2021 1:00 am http://africa.managersofwealth.com/article/31609/nearly-1000-businesses-closures-in-south-africa-in-the-first-half-of-2021-ampndash-these-are-the-industries-most-affected The group recorded 997 liquidations of companies and close corporations between January and June 2021, up from 763 businesses over the same period last year. Comment, Analysis & Research The rationale for no change in the MPC’s stance by FBNQuest Capital Research News Team Monday, July 26, 2021 1:00 am http://africa.managersofwealth.com/article/31585/the-rationale-for-no-change-in-the-mpcamprsquos-stance-by-fbnquest-capital-research From the Nigerian perspective the positives are: the low interest rates in advanced economies, notably the US Comment, Analysis & Research How South Africa’s 5 biggest banks continue to dominate News Aggregation Team Monday, July 26, 2021 1:00 am http://africa.managersofwealth.com/article/31586/how-south-africaamprsquos-5-biggest-banks-continue-to-dominate Combined, South Africa’s banks carry a total asset value of just under R6.5 trillion, while the mutual banks account for R3.4 billion in assets. Comment, Analysis & Research Three good reasons to look into high interest investments News Aggregation Team Monday, July 26, 2021 1:00 am http://africa.managersofwealth.com/article/31587/three-good-reasons-to-look-into-high-interest-investments These products include our three cash accounts: 32-day notice account; short-term deposit; and notice-deposit account,” says Thompson. Comment, Analysis & Research Switzerland and Ethiopia sign double taxation agreement News Team Thursday, July 29, 2021 1:00 am http://africa.managersofwealth.com/article/31631/switzerland-and-ethiopia-sign-double-taxation-agreement It guarantees legal certainty and a contractual framework, which will have a beneficial effect on the further development of bilateral economic relations. Tax Lesotho seals tax treaty with Mauritius News Aggregation Team Wednesday, July 28, 2021 1:00 am http://africa.managersofwealth.com/article/31601/lesotho-seals-tax-treaty-with-mauritius It replaces a 1997 treaty that Lesotho authorities have in recent years complained of as being unfair. Tax Zanzibar’s new tax and residency investment scheme set to open paradise to the world News Aggregation Team Monday, July 26, 2021 1:00 am http://africa.managersofwealth.com/article/31588/zanzibaramprsquos-new-tax-and-residency-investment-scheme-set-to-open-paradise-to-the-world The result has been that Zanzibar has not been able to attract any notable real estate development Tax SARS sends letters to 275 wealthy individuals in South Africa with financial assets abroad News Aggregation Team Monday, July 12, 2021 1:00 am http://africa.managersofwealth.com/article/31479/sars-sends-letters-to-275-wealthy-individuals-in-south-africa-with-financial-assets-abroad SARS, in February, set up the separate wealth unit to focus on individual taxpayers with wealth and complex financial arrangements Tax Global tax overhaul backed by 130 countries News Aggregation Team Friday, July 02, 2021 1:00 am http://africa.managersofwealth.com/article/31399/global-tax-overhaul-backed-by-130-countries All G20 countries, such as the US, UK China and France, did back the agreement. Tax ‘Impossible’ NHI tax will hit South Africa hard News Aggregation Team Thursday, July 01, 2021 1:00 am http://africa.managersofwealth.com/article/31389/amplsquoimpossibleamprsquo-nhi-tax-will-hit-south-africa-hard The FMF said that this figure would effectively be combined with funds from the private health sector to create an NHI fund which will make up 8.5% of the country’s GDP expenditure. Tax 1.4m taxpayers yet to file returns ahead of June 30 deadline News Aggregation Team Wednesday, June 23, 2021 1:00 am http://africa.managersofwealth.com/article/31319/14m-taxpayers-yet-to-file-returns-ahead-of-june-30-deadline The KRA has been processing between 80,000-100,000 filings daily, it reported Tuesday. Tax Avoid tax wolves in sheep’s clothing News Aggregation Team Monday, June 21, 2021 1:00 am http://africa.managersofwealth.com/article/31284/avoid-tax-wolves-in-sheepamprsquos-clothing 6 things to look out for. Tax How a new wealth tax could work in South Africa News Aggregation Team Monday, June 21, 2021 1:00 am http://africa.managersofwealth.com/article/31286/how-a-new-wealth-tax-could-work-in-south-africa While South Africa is not a member of the OECD, it does adhere to numerous OECD instruments – and the findings of this report have important implications for the country. Tax PwC is banking on a $12bn investment to become the 'auditor of the future' News Aggregation Team Wednesday, June 16, 2021 1:00 am http://africa.managersofwealth.com/article/31251/pwc-is-banking-on-a-12bn-investment-to-become-the-amp039auditor-of-the-futureamp039 The investment in technology will deliver what PwC calls "the audit of the future" as it will be able to handle much larger volumes of data and to assess a much broader range of risks, and not just the financial metrics that auditing has traditi Tax Treasury may allow pension withdrawals before retirement under 'very specific circumstances' News Aggregation Team Tuesday, August 03, 2021 1:00 am http://africa.managersofwealth.com/article/31660/treasury-may-allow-pension-withdrawals-before-retirement-under-amp039very-specific-circumstancesamp039 "We are working with it, there [are] lots of complexities, and if we do not watch it there will be a rush to the door and we will create liquidity problems," said Momoniat. Regulation,Tax & Compliance Isabel dos Santos ordered to return to Angola $500 million in shares ‘tainted by illegality’ News Team Tuesday, August 03, 2021 1:00 am http://africa.managersofwealth.com/article/31661/isabel-dos-santos-ordered-to-return-to-angola-500-million-in-shares-amplsquotainted-by-illegalityamprsquo An international tribunal ruled that the billionaire and her late husband corruptly obtained a lucrative stake from the state oil company Sonangol. Regulation,Tax & Compliance Mboweni pushes for stronger transformation laws in South Africa’s banking and finance sector News Aggregation Team Tuesday, August 03, 2021 1:00 am http://africa.managersofwealth.com/article/31664/mboweni-pushes-for-stronger-transformation-laws-in-south-africaamprsquos-banking-and-finance-sector “For such reasons, National Treasury has adopted a multi-pronged approach to transformation that seeks to enhance market conduct, market development and financial inclusion.” Regulation,Tax & Compliance African Diaspora Central Bank to invest $9 billion in electric vehicle startup News Aggregation Team Monday, August 02, 2021 1:00 am http://africa.managersofwealth.com/article/31644/african-diaspora-central-bank-to-invest-9-billion-in-electric-vehicle-startup Mandrolli was birthed in the Eastern Cape, where Premier Oscar Mabuyane has agreed to support the initiative to the fullest. Regulation,Tax & Compliance Out of control and rising: why bitcoin has Nigeria’s government in a panic News Aggregation Team Monday, August 02, 2021 1:00 am http://africa.managersofwealth.com/article/31648/out-of-control-and-rising-why-bitcoin-has-nigeriaamprsquos-government-in-a-panic As leaders around the world grapple with cryptocurrencies, what happened when the African country tried to ban them? Regulation,Tax & Compliance Regulator seeks law changes to subdue emerging market risks News Aggregation Team Monday, August 02, 2021 1:00 am http://africa.managersofwealth.com/article/31650/regulator-seeks-law-changes-to-subdue-emerging-market-risks These changes are targeted at private markets which include private equities, crowdfunding and venture capital type of investments. Regulation,Tax & Compliance Surprise tax boost for South Africa News Aggregation Team Monday, August 02, 2021 1:00 am http://africa.managersofwealth.com/article/31653/surprise-tax-boost-for-south-africa While this windfall is set to help pay for the government’s recently announced Covid-19 and looting support, concerns lie beyond the current fiscal year. Regulation,Tax & Compliance Ghana Vice President Praises Central Bank's CBDC Initiative, Says Digital Currencies Can Boost Intra-African Trade News Aggregation Team Friday, July 30, 2021 1:00 am http://africa.managersofwealth.com/article/31635/ghana-vice-president-praises-central-bankamp039s-cbdc-initiative-says-digital-currencies-can-boost-intra-african-trade He said the Ghanaian government is ready to “give it the needed credibility and legal backing for usage. Regulation,Tax & Compliance High borrowing starves businesses of funds - BoG News Aggregation Team Friday, July 30, 2021 1:00 am http://africa.managersofwealth.com/article/31637/high-borrowing-starves-businesses-of-funds-bog The central bank added that while the banking sector had remained solvent, liquid, profitable and well-capitalised, its ability to support private sector growth and the economic recovery agenda drive in 2021 had weakened due to a moderation in credit disb Regulation,Tax & Compliance Walkers London launches EMEA-based Bermuda law practice News Team Friday, July 30, 2021 1:00 am http://africa.managersofwealth.com/article/31632/walkers-london-launches-emea-based-bermuda-law-practice Walkers' London office provides time-zone sensitive Bermuda law support to clients in the EMEA region across the full range of legal services Regulation,Tax & Compliance What’s Next for ESG? News Team Tuesday, August 03, 2021 1:00 am http://africa.managersofwealth.com/article/31654/whatamprsquos-next-for-esg During the past five years, the investment decisions and priorities of managers and advisors over the wealth and investment industry have evolved significantly. ESG South Africa says $750bn a year needed for climate goals News Aggregation Team Monday, August 02, 2021 1:00 am http://africa.managersofwealth.com/article/31649/south-africa-says-750bn-a-year-needed-for-climate-goals The goal is significantly higher than the $100 billion per year that was set for 2020, ESG Africa’s green superpower: why Gabon wants markets to help tackle climate change News Aggregation Team Tuesday, July 20, 2021 1:00 am http://africa.managersofwealth.com/article/31544/africaamprsquos-green-superpower-why-gabon-wants-markets-to-help-tackle-climate-change Ahead of a key UN summit, the idea of ‘natural capital’ is gaining ground as a tool to avert environmental catastrophe ESG Sustainable investments account for more than a third of global assets News Aggregation Team Monday, July 19, 2021 1:00 am http://africa.managersofwealth.com/article/31541/sustainable-investments-account-for-more-than-a-third-of-global-assets The report also includes money invested using a process that assesses the risk and return impact of issues, such as climate change, even if the strategy's mandate does not have a formal, explicit sustainability focus, so-called 'ESG integration& ESG Africa’s best bank for sustainable finance 2021: Nedbank News Aggregation Team Thursday, July 15, 2021 1:00 am http://africa.managersofwealth.com/article/31509/africaamprsquos-best-bank-for-sustainable-finance-2021-nedbank By 2050, all its lending and investment will support a net-zero carbon economy. ESG The Sustainable Energy Fund for Africa reports record number of transactions in 2020, secures $90 million in new funding News Aggregation Team Wednesday, July 14, 2021 1:00 am http://africa.managersofwealth.com/article/31500/the-sustainable-energy-fund-for-africa-reports-record-number-of-transactions-in-2020-secures-90-million-in-new-funding The Fund responded swiftly to the onset of the pandemic by launching its COVID-19 Off-Grid Recovery Platform to extend recovery capital to energy access businesses. ESG MDBs’ climate finance rose to $66 billion in 2020, joint report shows News Team Thursday, July 01, 2021 1:00 am http://africa.managersofwealth.com/article/31396/mdbsamprsquo-climate-finance-rose-to-66-billion-in-2020-joint-report-shows Multilateral development banks enhance cooperation on reporting climate finance ESG Standard Chartered Launches Sustainable Supply Chain Benchmarking Tool News Aggregation Team Wednesday, June 23, 2021 1:00 am http://africa.managersofwealth.com/article/31317/standard-chartered-launches-sustainable-supply-chain-benchmarking-tool The issues exposed by COVID-19 have prompted companies to rethink their supply chains, as the world looks to build back a more sustainable global economy. ESG Path to Net Zero Riddled with Potential Pitfalls News Aggregation Team Tuesday, June 22, 2021 1:00 am http://africa.managersofwealth.com/article/31309/path-to-net-zero-riddled-with-potential-pitfalls This is the first in a series of thought leadership pieces on net zero that S&P Global is releasing in conjunction with Earth Day. ESG How Kenyans are resisting one of the largest development projects in East Africa News Aggregation Team Monday, June 21, 2021 1:00 am http://africa.managersofwealth.com/article/31287/how-kenyans-are-resisting-one-of-the-largest-development-projects-in-east-africa After making little progress on their own, climate justice organizers in Kenya came together with youth, farmers and women to fight for sustainable development. ESG Afreximbank Recognised for COVID-19 Fight News Aggregation Team Tuesday, July 06, 2021 1:00 am http://africa.managersofwealth.com/article/31425/afreximbank-recognised-for-covid-19-fight The magazine noted that Afreximbank activated its business continuity management plan within days of the pandemic to prevent service interruptions. Covid-19 AfDB Strengthens Covid-19 Fight News Aggregation Team Wednesday, June 30, 2021 1:00 am http://africa.managersofwealth.com/article/31362/afdb-strengthens-covid-19-fight The president underlined the fact that Africa imports 60-70 per cent of its pharmaceutical drugs. Covid-19 Africa should produce vaccines on the continent, African Development Bank Group head says on eve of the group’s 2021 Annual Meetings News Team Tuesday, June 22, 2021 1:00 am http://africa.managersofwealth.com/article/31308/africa-should-produce-vaccines-on-the-continent-african-development-bank-group-head-says-on-eve-of-the-groupamprsquos-2021-annual-meetings The African Development Bank and other development partners can credit-enhance them. Covid-19 CBK upbeat on vaccine lift to Kenya economy amid curbs News Aggregation Team Tuesday, March 30, 2021 1:00 am http://africa.managersofwealth.com/article/30634/cbk-upbeat-on-vaccine-lift-to-kenya-economy-amid-curbs The economic recovery that started in the fourth quarter of last year has been supported by agriculture, real estate and the financial sectors. Covid-19 Workplace Stress During COVID-19: 5 Ways to Support Your Employees’ Mental Well-being News Team Tuesday, January 26, 2021 12:00 am http://africa.managersofwealth.com/article/30091/workplace-stress-during-covid-19-5-ways-to-support-your-employeesamprsquo-mental-well-being Taking care of your mental well-being is essential to staying healthy, staying resilient and moving your business forward. Covid-19 Rand continues to slide over fears of Covid-19 variant and tougher lockdown restrictions for South Africa News Aggregation Team Friday, January 08, 2021 12:00 am http://africa.managersofwealth.com/article/29927/rand-continues-to-slide-over-fears-of-covid-19-variant-and-tougher-lockdown-restrictions-for-south-africa The country has only recently secured a deal to receive its first coranavirus vaccines, but barely enough for the country’s 1.25 million health workers. Covid-19 Africa’s billionaires – from Motsepe to Dangote – fight to stamp out Covid-19 News Aggregation Team Thursday, January 07, 2021 12:00 am http://africa.managersofwealth.com/article/29912/africaamprsquos-billionaires-ampndash-from-motsepe-to-dangote-ampndash-fight-to-stamp-out-covid-19 Governments are leading the Covid-19 response, but the continent’s richest citizens are contributing their part to the team effort, sometimes even getting ahead of public sector initiatives. Covid-19 Corona still a threat to Kenya's economy - Oigara News Aggregation Team Tuesday, January 05, 2021 12:00 am http://africa.managersofwealth.com/article/29871/corona-still-a-threat-to-kenyaamp039s-economy-oigara He is, however,confident that social-economic resilience exhibited in 2020 will give the country strength to businesses. Covid-19 Govt Mulls Inclusion of Covid-19 Tests Into Health Insurance Schemes News Aggregation Team Monday, January 04, 2021 12:00 am http://africa.managersofwealth.com/article/29853/govt-mulls-inclusion-of-covid-19-tests-into-health-insurance-schemes In recent weeks, the Ministry of Health (MoH) has been putting in more effort to improve citizens' access to the testing services. Covid-19 Ten Ways Covid-19 Has Changed the World Economy Forever News Aggregation Team Wednesday, December 30, 2020 12:00 am http://africa.managersofwealth.com/article/29832/ten-ways-covid-19-has-changed-the-world-economy-forever Big government staged a comeback as the social contract between society and the state got rewritten on the fly. Covid-19