Managers of Wealth Africa

AAR Insurance posts Ksh 517million net profit

Total assets rose from Ksh 3.9 billion to Ksh 4.8 billion, a 24 per cent increase, with shareholders’ funds increasing from Ksh 563 million to Ksh 1.1 billion during the period under review.

China in the driver's seat amid calls for Africa debt relief

Beijing is likely to endorse a temporary freeze on debt payments by African countries as part of an expected agreement by the Group of 20

African Development Bank Group approves $10 million equity in Razorite Healthcare Fund for Africa

The 10-year deal will resource the Fund to address growing demands for affordable and quality healthcare services in several countries of Sub-Saharan Africa

AfDB invests $10m in Razorite Healthcare Africa Fund 1

On April 8, the Bank unveiled a COVID-19 Response Facility that will mobilise up to $10bn to assist regional member countries in fighting the pandemic.

Kenyan insurer awaits nod to dispose of land holdings to shore-up earnings

The approval for change of use from agricultural to mixed use/commercial for the Kiambu property was granted in 2018.

Analyst's grim view of mining after lockdown: 'Pain' for most companies, some won't survive

The Council expects to provide information based on its modelling in the next few days.

Foreign investors face reduced dividend income on higher tax

The proposal means that for instance, a foreign investor earning gross dividend income of Sh100,000 will pay Sh15,000 WHT and take home Sh85,000 as opposed to Sh90,000 at the current tax rate.

Morocco draws on IMF credit line to support virus hit economy

Morocco has imposed a lockdown to combat the coronavirus, which has claimed 91 lives in the North African country from a declared total of more than 1,200 cases of COVID-19.

Special Report on The COVID-19 Epidemic Forecasts (Issue 2)

The cumulative number of confirmed cases will exceed 2 million around Apr. 15.

Are there any safe havens in this global market crash?

Bonds, gold and cash are the traditional stores of value, but even their performance has been erratic amid Covid-19

SANNE announce new client win

This collaboration is representative of the continued efforts of SANNE to maintain a leading position within the Africa-centric hub.

22 banks facilitated $23.9bn investments in Nigeria — NBS

Findings revealed that many of the banks were able to facilitate large sums of investments into the economy as a result of their foreign exposure.

Post-Covid-19 SA will need a natural ‘stimulus package’

This will get our economy back on track and provide long-term impetus for South Africa to become a prosperous and wealthy nation.

A more challenging year for South Africa's banks in 2020

Fitch believes that the South African operating environment is particularly exposed to the Covid-19 pandemic because of its highly dense and vulnerable communities

Nonperforming loans in Nigeria fall by 41% in 2019

The year-on-year nonperforming loans (NPL) in the Nigerian banking sector has fallen by 41% from N1.79 trillion in 2018 to N1.05 trillion in 2019.

Stanbic gives 3-month loan holiday for SMEs

The Stanbic move comes after government last week cut turnover tax from three percent to one percent.

UAP Insurance Kenya profit rises to Sh970m

Net premiums earnings from policyholders, its core business, were nonetheless flat, rising 1.9 percent to Sh8.30 billion.

Housing Finance cuts loss by 82 percent on reduced costs

HF’s loan book shrunk by 11.3 percent to Sh38.55 billion during the period.

Kenya Re profit before tax up by 35%

Kenya Reinsurance Corporation posted a 35% rise in profit before tax from Ksh 3.10B in 2018 to Ksh 4.18B in 2019, a commendable financial performance given the turbulent and difficult business environment in 2019.

SA Private Equity continues to outperform listed market

Monwabisi Zikolo, a senior private equity analyst at investment firm RisCura, says that the prospects for private equity investments remain favourable despite uncertainty in local and global markets.

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