Managers of Wealth Africa

Ecobank, Fidelity Bank and Access Bank drop as NSE banking index rises

UBA was the top gainer yesterday with profits of (4.35%) supporting the (+1.47%) held in the previous trading session.

Nigeria's Pension Industry Asset Under Management Increased by 17.9% YoY to N12.30trn in Jan 2021

This was an increase of four percentage points in just one month. Over 12 months the share of NTBs has collapsed from 15.2% to 5.4%.

NCBA profit slumps 42pc to Sh4.57bn

NCBA’s fall in profit for last year is the third sharpest after DTB Group’s 52.14 per cent plunge to Sh3.25 billion and Absa Kenya’s 43.8 per cent to Sh4.2 billion.

More firms eye mergers and acquisitions for turnaround

In a report on insurance, investment bank, EFG Hermes forecast activity in both listed and non-listed space due to recorded losses, capital inadequacy or bad operating metrics.

Equity Bank freezes dividend for second year as profit falls 11pc

Net interest income rose by 22.6 per cent to Sh55.15 billion, while non-interest income grew 25 per cent to Sh38.51 billion.

New South Africa jobs data paints a grim picture

Part-time employment increased by 87,000 (9.2%) quarter-on-quarter, from 943,000 in September 2020 to 1,030,000 in December 2020.

IXAfrica begins construction of East Africa's largest hyperscale-ready datacentre at 42.5MW

IXAfrica datacentres are designed to accommodate modern high-load servers and infrastructure for ultra-dense computing in accordance with the latest global standards.

Dubai, the business capital of Africa

Growing numbers of Africa-focused companies are basing themselves in the emirate

Equity Bank freezes dividend for second year as profit falls 11pc

Net interest income rose by 22.6 per cent to Sh55.15 billion, while non-interest income grew 25 per cent to Sh38.51 billion.

NCBA profit slumps 42pc to Sh4.57bn

NCBA’s fall in profit for last year is the third sharpest after DTB Group’s 52.14 per cent plunge to Sh3.25 billion and Absa Kenya’s 43.8 per cent to Sh4.2 billion.

CBN to reduce wheat import by 60% in 2yrs

The CBN governor further disclosed that the apex bank had financed 3,038,649 farmers

Bank forex deposits rise Sh15 billion in January

They do so when anticipating rough economic tides, like now due to the effects of the coronavirus pandemic.

Vision 2050: Time to Transform

Only collaboration at unprecedented levels will create the impact and speed needed to achieve all people living well within planetary boundaries by 2050.

As copper ‘decade forecast’ hits $15k, Zambia should expedite mining reforms for speedy economic recovery

Base metal fortunes look positive for Zambia as the red metal posted 105.0% recovery today from the 4,340/MT lows seen in harsh pandemic times (March20), to flirting with 10-year highs of a few points shy of $10,000/MT.

More South African companies downsizing offices due to job cuts and working from home

Despite this drop, the survey shows rising activity ratings in all three property classes – the industrial, retail and office.

Trading update: Investec warns of lower earnings – but leaves the door open for a final dividend

Costly hedging of the bank’s UK structured products book added to pressure caused by lower interest rates, reduced client activity and the weaker rand.

Old Mutual results highlight the plight of consumers

Old Mutual reported that the impact of directly attributable Covid-19 items on its results amounted to some R6.1 billion before tax.

IFC invests E20m in Nigeria, other emerging economies

Chief Executive Ofiicer/Founder, Bolt, Markus Villig said: “We are looking forward to partnering with IFC to further support entrepreneurship, empower women and increase access to affordable mobility services in Africa and Eastern Europe.

Equities Attract N20bn Investment Despite Bearish Trend

Analysts said they expect the bearish trend to continue this week as investors await the outcome of the Central Bank of Nigeria Monetary Policy Committee which begins today.

Britam Holdings to sell HF stake to a big bank

Britam could retain a small stake in HF as a passive investor like it does in Equity Group.

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