Managers of Wealth Africa

Highlights of the June 2023 Nigeria Development Update

The report series, which is produced twice a year, seeks to address recent economic and social developments and prospects in the country.

D-Day for interest rates in South Africa

Forward-rate agreements used to speculate on borrowing costs show traders are less certain that a quarter-point increase is a done deal after softer-than-anticipated inflation data on Wednesday.

South Africa’s outlook stable: Fitch

Government is implementing urgent measures to reduce load-shedding in the short term and transform the sector through market reforms to achieve long-term energy security.

Mozambique Scandal: How Credit Suisse Has Improved

As a result, the African country was plunged into a severe financial crisis, with the case becoming a cautionary tale about the hidden risks of lending to poor countries.

How much you need to earn to be in the richest 1% in South Africa

The World Inequality Lab database was constructed by an international network of more than 100 academics, including Thomas Piketty and Nobel Prize winner Abhijit Banerjee, making it possible to compare income inequality in 173 countries.

Nigerian firms that braved 62 years of headwinds

BusinessDay’s findings showed these companies have survived difficult periods by adapting to changing market conditions, diversifying their operations, and investing in innovation despite economic headwinds.

South Africans are getting buried – and many are digging even deeper

TrendER/infoQuest interviewed 300 South Africans in June 2023, with the results compared to a year prior.

Absa's Inspire Me Conference to Empower Women Entrepreneurs

Mastercard Foundation, AngloGold Ashanti, Vodafone Business, International Trade Center and SheTrades are the official partners for the conference.

South Africans are getting poorer – and it’s going to get worse

Of more concern is that even when stripping out the impact of inflation, in real terms, average take-home pay has been slipping due to poor economic conditions, especially after 2021.

Jobs that pay the highest average salaries in South Africa

The year-on-year total gross earnings increased by R43.2 billion or 5.5% between March 2022 and March 2023.

A m/m rise in the FGN’s fiscal deficit

The wider fiscal deficit m/m was mainly because of an -8% reduction in the FGN’s retained revenue to NGN479bn.

Warning to job seekers in South Africa

“For the common interest of everyone, report unscrupulous agencies that charge you fees to labour inspectors and the police,”

Visa chaos in South Africa as backlog threatens 100,000 jobs

“The visa matter spans the entire hierarchy of German business in South Africa”

Bad news for salaries and wages in South Africa

The MPC will be worried if there is a rise in inflation expectations.

South Africa’s second-biggest growth problem

More than half of applications were rejected on grounds including errors in the complex application process.

Overcoming payroll staff shortages: Effective approaches and importance

An outside payroll provider could provide some welcome relief, whether you choose to outsource your payroll function entirely or keep some of it in house.

Inflation eating away at what little income South Africans have left

Consumer price inflation surprised the upside in February and March.

Bloomberg ranks Dangote Africa’s richest man, Bill Gates 4th in world

Ellon Musk and Bernard Arnault are the first and second richest people in the world, with fortunes totalling $219 billion and $194 billion, respectively.

South Africa edging closer to recession

More positively, however, it also anticipates inflation to come down, with the average for 2023 now expected to settle at 5.9% from 6.0% before.

CEO vs lowest-paid worker salaries in South Africa

This means that Shoprite’s Pay Ratio is over 1,000, which is double that of second-place Woolworths.

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