Managers of Wealth Africa

Signs of life for one of South Africa’s most important sectors

Main contractor confidence was unchanged at 41 in 4Q2023

Treasury relaxes listing conditions to end IPO drought at NSE

Companies that wish to list under the SME Market Segment need not be profitable.

South African investors are feeling quite optimistic

Schroders said that South African investors also had a heightened interest in digital assets and cryptocurrency compared to global respondents.

Banks’ stocks gain amid recapitalisation plan

Following the apex bank boss’ speech which has elicited varied reactions, on Monday, the First Bank of Nigeria Holdings led the gainers’ chart with 10 per cent gain to close at N22 per unit.

Top banks set aside Sh62bn, anticipate record defaults

The data shows that three of the eight banks have set aside a record stockpile of insurance cash in the review period.

The biggest retirement mistakes South Africans make

As we head into the festive season, 10X Investments said that many South Africans are changing their investment plans without considering the consequences.

Nigerian startup FrontEdge bags $10m for trade finance growth

The funding round was led by TLG Capital and included participation from Flexport.

Another twist for South Africa’s new pension system

These funds will be accessible before retirement.

Markets expect a hold on interest rates this week

Options trading reflects expectations the monetary committee will leave borrowing costs at 8.25% on Thursday, with about a 10% chance assigned to a rate cut.

Mozambique Increases Debt to Finance 10.4% Deficit in 2024

The budget deficit forecast by the government for next year is more than 159,488 million meticais (2,340 million euros)

What it will take to get the rand under R18 to the dollar

The odds are that the rand will even succeed at this, the economist noted, with the currency likely to run below R18/$ into next year as the global interest rate hike cycle shifts to one of cuts.

Investors gain N182bn in one week

Despite the positive trading during the week under review, a total of 2.025 billion shares worth N27.69bn exchanged hands in 32,763 deals

AfDB invested over $10bn in Nigeria in 52 years

With an estimated 60 million people, which is 28 per cent of the country’s population, North-West Nigeria is home to 10 million of the country’s 22 million herds of cattle.

Property prices are surging in this part of South Africa

Many residents also opt to stay in the area, with roughly 50% owning their properties for ten or more years.

Construction stumbles in South Africa as developers sweat

The outlook for work deteriorated according to respondents’ expectations, which aligns with the drop building plans passed reading for Q3, which showed that plans passed dropped by -13.3% qqsa.

Good news for interest rates in South Africa expected next week

Global financial markets remain highly sensitive to the US interest rate cycle, and fluctuating expectations add to rand volatility.

Non-tax revenue hits 3-year high of Sh29bn on mop-up

Services such as transportation permits like driving licences, land titling, and registration of persons are key sources of non-tax revenue.

World Bank disburses $300m palliative loans

With this loan, the Federal Government plans to run a monthly cash transfer programme for poor and vulnerable Nigerians

Nigeria’s Wigwe makes $500m investment in higher education

Wigwe is resolutely committed to injecting $500 million over a five-year span into his envisioned hybrid university.

South Africa’s new ‘travel pass’ expands

Travellers who are travelling with children or infants will also need to complete a declaration on their behalf.

Alternative Investments