Managers of Wealth Africa

Equity Group invests Sh3.4bn in Tanzania, Uganda subsidiaries

The Tanzanian subsidiary reported a pre-tax loss of Sh426 million in the year ended December, widening it from Sh411 million a year earlier.

Invest Africa and Absa Group announce strategic collaboration

As trusted on the ground partners and an African diversified bank of significant stature, with the global connectivity to deliver Africa, Absa Group’s focus for the collaboration will centre on furthering local financial solutions in African markets

South Africa faces big credit rating decision this week

“S&P Global Ratings and Fitch Ratings will be reluctant to move a country with reasonably solid institutional governance and deep local financial markets below the psychological hurdle of a B rating.

Nigerian wealth funds record 33.3% asset growth in 2020

The growth was achieved despite a $150 million withdrawal from the Stabilization Fund by the Federal Government of Nigeria.

Still too few Black executives in SA, Sanlam Gauge report

The Sanlam Gauge, presented in partnership with the Sunday Times Business Times, reports on transformation in SA industries

Kenya’s crowded banking sector is ripe for consolidation, analysts say

“This makes a case for about 20-25 banks,” he says.

Mobile lender Branch to buy Sh230m microfinance majority stake

The acquirer and the target will each maintain the terms agreed with the borrowers in respect of all loans existing in their loan books at the time of the acquisition,”

KCB to spend Sh6bn in buying Rwandan, Tanzanian banks

“The group has made an offer to the remaining shareholders of BPR for the acquisition of the remaining stock at the same terms as Atlas Mara's to raise its ownership to 100 percent,” KCB says in its latest annual report.

Biggest Africa Fund Manager’s Staff Warn of ‘Existential Crisis’

Issue could prevent firm fulfilling social-development goals

Shifting the focus away from periodic KYC

Financial institutions in Mauritius generally perform a Periodic KYC exercise

The PIC now owns Deloitte’s R1.7 billion offices in Joburg

Formally completed in April 2020, the premises includes comprise 42 500m² of quality workspace, which will consolidate Deloitte’s current Woodmead and Pretoria offices in a single central location.

Access Bank: Leveraging debt recovery for sustainable growth

Several innovations and expansion plans by Access Bank has lead to uptick in its performance in the full year 2020 financial results.

Two new committees for private equity and venture capital market

Adding to the discussion, Khaled Ben Jilani from AfricInvest shared how private equity could safeguard the livelihoods of MSMEs in Africa.

Diamond’s Atlas Mara Receives Approaches for Africa Assets

Some potential buyers have indicated they may acquire all of Atlas Mara’s remaining assets in Africa, which would include its Zimbabwe unit, the people said.

SMEP seeking nod to search for investor as losses mount

The search for new capital comes on the back of the micro-financier having posted a Sh68.75 million loss at the end of last year from Sh6.27 million net profit in the preceding similar period.

Allianz purchases 66pc stake in Jubilee General Insurance

The deal is Allianz’s second direct investment in the country, after establishing Allianz Insurance Company of Kenya Limited as a greenfield operation in 2014.

Corporate Nigeria spends N31.22 billion on travel expenses in 2020

According to data obtained by Nairametrics Research, travel expenses of major corporations in Nigeria dipped by 36.97% in 2020.

Spire Bank crisis needs swift CBK intervention

To survive, Spire Bank requires additional capital to resume growing its lending book, and this can only happen through sale of the lender to credible strategic investors.

AfDB to Support Morocco’s Business Climate With $1 Million Grant

The AfDB offered Morocco several grants for several purposes, including to support the country tackle COVID-19 crisis.

Alterra Capital, Carlyle’s discreet successor, sets its sights on African deals

At stake was $700m in assets, a plethora of partnerships, the 10 or so companies that make up its portfolio and more than 10 years of experience on the continent.

Alternative Investments