Managers of Wealth Africa

7,100 new dollar-millionaires now live in South Africa

This means South Africa now accounts for 38% of Africa’s dollar-millionaires and 36% of the continent’s billionaires.

OM Bank is not playing around

Old Mutual expects the bank to run losses of R1.1 billion to R1.3 billion until it breaks even in 2028, with the bank earmarking R2 billion to fund its expansion.

Old Mutual wants South Africa’s newest bank profitable by 2028

Adjusted headline earnings fell 30% to R2.95bn in the six months through June.

Sarasin & Partners extends Managed Funds range to South African investors

Each carries a specific long-term return objective set against a defined risk budget.

Old Mutual sees profit drop due to lower investment returns

Adjusted headline earnings fell as shareholder investment returns took a hit from the ongoing Middle East conflict, weighing on equity and bond performance.

Old Mutual expects wealth management to drive growth in first half

Old Mutual said growth from operations was primarily driven by stronger revenue in wealth management and Old Mutual Investments, supported by a higher average base of assets under management and administration, as well as lower central costs.

Major private bank in South Africa fighting prosecution

Investec has, until now, largely sat out the decade-long legal battle over allegations of rand/dollar fixing at major banks.

SNB Group Launches Mastercard’s World Legend Card for Private Banking Clients

The launch reflects SNB Group’s continued commitment to delivering innovative banking solutions and exceptional experiences tailored to the evolving expectations of affluent customers.

The man who wanted to be an astronaut and now makes R272,000 a day as a tech CEO in South Africa

Under his leadership, the business served 19 million customers and managed approximately R1 trillion in assets.

The Digital Elite: Why Absa Must Prove It Can Master Frictionless Banking to Keep StanChart’s Retail Legacy Alive

On paper, absorbing thousands of affluent, high value accounts looks like an immediate win for Absa.

Nairobi to Host Forum on Wealth Management and Family Office Investment

Participants will also explore how technology is reshaping wealth management and influencing investment decision-making.

Africa’s Wealth Conversation Has Found Its Home

LPWC has reached a point in its development where the brand carries real weight.

Global Wealth Report 2026: Global wealth rose over 10% in 2025

The latest edition of the UBS Global Wealth Report shows a broad-based increase in personal wealth, driven by strong financial markets and rising non‑financial assets, with average wealth growing faster than global economic output.

Investec rolls out Microsoft Copilot to all 8,000 colleagues globally

The first full-workforce Microsoft Copilot deployment publicly announced by an organisation in South Africa

Goodbye Gauteng – Millionaires rushing to a new home in South Africa

A new report, commissioned by Standard Bank Wealth and Investment, states that South Africa’s affluent class have rewritten where they choose to earn, live and invest.

Global millionaire population jumps by nearly 2 million in 2025, driven by strong stock market performance worldwide

A robust equity market performance and easing inflation drove HNWI wealth creation in 2025, growing the global millionaire population by nearly 2 million to 25.3 million individuals.

Interswitch Partners with Temenos to Scale Digital Banking Services Across Africa

Interswitch will use Temenos solutions to deliver managed services to banks and financial institutions across Africa.

South Africa’s middle class is in serious trouble

It noted that South Africa’s economic outlook has shown modest improvement over the quarter, with GDP growth revised up to 1.6% for the year, while inflation eased to 3.2% in the quarter.

Investec eyes City hiring spree in major move into UK private banking

The expansion will boost its banking presence in London, as it seeks out wealthy clients for what will become a ‘full service primary bank”.

Sovereign Wealth Fund Records Profit in the First Quarter

During the same period, the FSM’s total assets grew by 6.6%, reaching USD 117.4 million, driven by revenues from Liquefied Natural Gas (LNG) exploitation and by financial returns generated from these investments.

Wealth and Asset Management