Managers of Wealth Africa

South Africa is out of money – but not out of options

The country has effectively run out of money and faces a debt trap, and will have to either boost revenue and find funding, or make severe cuts to spending.

Teasury’s money-saving plan for South Africa

Data released by the central bank in June showed the Treasury missed its target of achieving a primary budget surplus in the 2022-23 fiscal year

South Africans are getting poorer – how we lost R336 billion in a year

The researchers also noted a concerning trend from the deposit statistics published by the South African Reserve Bank is the deteriorating state of small unincorporated businesses

5 ‘hidden’ costs in South Africa that you should keep tabs on

Many of these hidden costs often lurk in businesses and personal finance and may be challenging to identify, but they can add up and become a significant financial burden.

Capitec is closing the taps

During the period, the group tightened its credit granting criteria to address the risks to the loan book amidst the difficult economic environment.

Relief for South Africa as GDP ticks higher

Despite a decline in overall household consumption, consumers continued to spend more on restaurants and hotels.

Africa’s youth biggest asset for the continent and the world

Ruto highlighted his government’s initiative to establish smart cities to tackle unsustainable settlements

An improved current account surplus in Q1 ‘23

The positive outcome on the current account was mostly due to a lower net deficit

IMF sees some hope for South Africa

Steps to improve the power supply – including relaxing restrictions on private power generation – could see the growth rate improve to 1.7% next year, IMF forecasts show.

Banks, insurance firms, others contribute N1.72trn to economy

The overall rate was lower than Q2 2022 by 1.90% points, and higher by 5.63% points than the preceding quarter.

South Africa reports record budget deficit

The yield on notes due December 2026 rose three basis points to 8.89%, while those on debt maturing in 2048 jumped nine basis points to 12.37%.

Over 900 South African businesses have closed in 2023 – but there is a silver lining

There has also been a 14.2% decrease in the number of liquidations for the first seven months of 2023 compared to the same period in 2022.

New Development Bank needs new approach

These measures plunged African economies into recessions and depression, and many citizens experienced political instabilities and became destitute.

BRICS expansion a big boost for business in South Africa: CEO

“This was a strong positioning for South Africa as an enabler and gateway to the growth of Africa,” Mavuso said.

Africa now fastest growing source of diaspora flows to Kenya

Most of the cash from those residing abroad is spent on consumption, with North America accounting for 60 percent.

South Africans have taken an insane amount of money overseas

This has resulted in South Africa being one of the few emerging markets with a net positive investment position

Over 2.1mln Kaduna residents have no access to financial services — Nigeria

Looking at the banking sector in the last decade the CBN controller, noted that it has gone through some drastic transformation in line with the global trend

Bank of Ghana didn’t breach any procurement laws in $250m HQ project – Dr. Addison

Dr. Ernest Addison, the Governor of the Bank of Ghana has refuted allegations that the central bank broke procurement laws in the construction of its new headquarters.

What South Africans want from their bosses

The survey mainly used respondents in data analysis, design, project management and software development.

Power sector still grappling with liquidity challenges

In comparison to the more robust data

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