Managers of Wealth Africa

How to avoid paying double tax on your offshore investments

Given that South African residents are taxable on a worldwide basis, the rental arising in respect of the offshore property is taxable under our local tax act.

Safaricom to earn 13pc interest from Sh20 daily handset loans

Those paying in installments will pay a total of Sh6, 500, translating to an additional hire purchase cost of Sh500, which is equivalent to an annual interest of 13.27 percent.

COVID-19: A shift in private equity operational behaviours

GPs will be left with a deeper understanding of portfolio companies and the challenges they face on a day-to-day basis, encouraging more effective and regular communication going forward.

Independent experts clear African Development Bank chief

The Panel concurs with the Committee in its findings in respect of all the allegations against the President and finds that they were properly considered and dismissed by the Committee.

Open banking the future of financial services, say analysts

“Open banking in Africa will play a pivotal role in offering financial services to large sectors of the population who have never had access to financial services before.

NSE’s best, worst stocks during Covid-19 revealed

This analysis is based on investors who bought shares in mid-March and measures their return at the end of the trading yesterday.

Kganyago says inflation 'won't be a problem' as bank cuts rates for fifth time this year

Some economists however feel the MPC could have introduced deeper cuts, given the unprecedented economic crisis brought on by the Covid-19 pandemic.

African Development Bank commits $1.04 million towards two COVID-19 research projects in Angola

The Angolan Government intends to promote research and enhance capacity in the health sector, against the backdrop of the COVID-19 pandemic

Nigeria is not our biggest market, it’s our biggest opportunity – Ecobank

They also acknowledged that “Nigeria has a difficult macro environment”.

South Africans turn to debt and dip into savings to survive

More consumers can't pay accounts, the latest Old Mutual Savings and Investment Monitor shows

South Africa won't be fixed - and the worst is on the way

With this bungling of the economy under the ANC, I see this country not being fixed, and the situation getting worse for at least the next two decades.

South Africa’s Banking Playground Mostly Remains The Turf Of Only 5

That is the percentage of the market share they hold as at 21st March, 2020.

AfDB impacts in Africa endorse Adesina’s second-term bid as president

To deal with the situation, the AfDB initiated what it called ‘Desert to Power’ programme in 2017, in order to ‘light up and power’ the Sahel with electricity supply through photovoltaic (PV) solar systems

Nigeria’s pension assets rise to N10.8 trillion in May 2020

PenCom’s Acting DG said pension fund managers have been very cautious about where they invest.

Can record low interest rates give SA's equity market the boost it's been looking for?

In South Africa, banks like TymeBank and African Bank, which boasted some of the country's best rates, have revised their annual interest rates.

Public debt up to Sh6.6trn in May on Covid-19 loans

Of the total amount, $750 million was from the International Development Association, to be repaid over a 30-year period, after a grace period of five years, at 1.35 percent interest.

Why South Africa – much like Zimbabwe - can’t print money to pay for Covid-19

If the government cuts total public sector wages by only 7%, it would free up enough money to pay a R350 per month Basic Income Grant to every person without a job between the ages of 19 and 59, says Moola.

Markets make strong rebound

The financial sector felt the effects of the pandemic more severely.

USD15 trillion to be passed to Millennials, Gen X and Y in the next decade

This equates to more than USD15 trillion – which is higher than China’s annual GDP. Regionally, 41 per cent of this wealth will be transferred from the Americas, 32 per cent from EMEA and 27.5 per cent from Asia-Pacific.

CBN retains monetary policy rates, says Nigerian economy strong despite COVID-19 pandemic

At the briefing on Monday, the CBN governor said the MPC decided to retain all the monetary policy rates to allow the various intervention programmes time to take effect.

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