Managers of Wealth Africa

Why is Africa Struggling with Banking?

The prospect of having a bank account fueled my excitement as it promised to be the gateway to financial possibilities.

Work from home not going anywhere in South Africa

While some employers encourage a full return to the office

African debt crisis emerges as top risk for lenders, warns outgoing Nedbank CEO

The debt crisis looms large, impacting economies and financial institutions across the continent.

More pain for retailers in South Africa

Retail trade sales declined 0.7% in the three months ending November 2023 compared to the same period last year.

The worst-case 2024 election result that could push the rand over R21 to the dollar

Local issues appear to be the main culprit behind the rand’s weakness

UBA’s N1Trillion Capitalisation: A Pinnacle of Financial Success

This is because on Monday, the bank, joined the elite group of companies with a market capitalisation of over N1tn just as its share price value hit N29.90 per share.

Ghana commences survey on business establishment

The goal of the exercise is to produce an updated statistical business register and generate important data for national development.

What South Africans should look out for in 2024 – from interest rates to elections

Across the globe, questions still remain if high inflation will be brought down to normal levels.

More multinationals may exit Nigeria in 2024

The report read in part, “In 2024, we expect companies to continue to re-imagine their operational strategies to achieve cost efficiency.

Rising drivers of headline inflation

The higher inflation reading was mainly driven by elevated food inflation, which increased by 132bps to 32.84% y/y.

A m/m rise in fx inflow in Aug ‘23

Underscoring the m/m rise in fx inflow was an increase of 17% q/q in fx revenues from autonomous sources to USD3.3bn.

High debt, inflation to limit Nigeria’s economic growth – UN

It noted that efforts to increase “in-country oil refining capacity would likely reduce domestic fuel costs in 2024 and beyond.”

Areas with the most expensive rent in South Africa

The report also noted that many South Africans are likely to continue renting instead of buying amid the cost of living crisis.

Ghanaians turned to savings in foreign currency to protect investments – KPMG Survey

Thirty-five percent of respondents indicated savings and investments as one of their top priorities - the third highest, highlighting a resilient savings behavior despite economic pressures.

Your funds are safe in banks, CBN assures depositors

“Bank customers are therefore advised to proceed with their banking transactions as usual, as there is no cause for concern.”

Why Kenyan CEOs doubt growth in 2024

Business expectations for the coming year [2024] were subdued and dropped slightly to a four-month low.

Shaky shilling rounds off the worst run in 30 years

A weaker Kenyan shilling has escalated imported inflation by driving up the cost of imported goods and services, including petroleum products.

The year 2023 in numbers

Businesses blamed what has been a tough year on high input costs, taxation, a weakened local currency and scarce dollars.

88% of workers self employed, says NBS report

The unemployment rate for Q2 2023 was 4.2 per cent

Increase in cost of loans highest among corporates

This is evident in the Sh113 billion increase in bad loans in the one year to September this year to Sh617 billion, largely blamed on the manufacturing and trade sectors.

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