Managers of Wealth Africa

GCB crowned CIMG Marketing-Oriented Bank 2023

The bank said the awards underscored its unwavering commitment to delivering cutting-edge solutions

Trustees urged to hang tight with investment strategies as two-pot takes effect

While called the two-pot system, the new legislation essentially divides pension funds into three: a savings pot, a vested pot and a retirement pot.

Significant gap to achieving broadband target

Despite a 2.5% y/y increase in subscriptions to 94.2 million in Mar '24

A m/m increase in net fx flow

This decrease in FX inflow closely reflects the declining FX revenue from the oil sector, which is the primary source of the nation's export earnings.

Massive two-pot payday for SARS

For 13% of requests, SARS issued an IT88 — which is where a member has outstanding tax from a previous period or has not submitted one or more annual tax returns for their personal taxes.

South Africa’s diamond billionaire – worth R170 billion

At 21, Ernest, the son of a German cigar merchant, was sent by a London trading company to South Africa to buy diamonds – a trade he quickly mastered.

Big EFT changes for South Africa are here

That said, the Bank of Namibia extended the effective date of stopping processing cross-border EFT payments to 30 September 2024.

Sanlam expects ‘modest’ two-pot outflows

But insurer sees improved asset accumulation in the long term through increased preservation.

Ghana launches offer for $13 billion Eurobond

Ghana's economy has been in crisis for years and it is overhauling its debt under the G20 Common Framework.

Amazon ‘hiring like crazy’ in South Africa

Users have been particularly impressed by the 24/7 customer service, including the “Click to Call” option on the website.

A m/m rise in pension assets

However, on a y/y basis, the growth of the pension AUM was more significant, expanding by +22% y/y. Standardised

IMF strengthens global growth expectations

While the 2024 forecast aligns with the Fund's April 2024 projection

GDP growth constrained by structural factors

We have included only those sectors representing at least 1% of constant-price GDP.

Sanlam to acquire 25% stake in Tymebank owner

According to its chief executive officer, Coenraad Jonker, TymeBank, which is also backed by China’s Tencent Holdings Ltd., is valued at close to $1 billion.

FITC, Malize Win Business Excellence, African Woman Leadership Award

The award was in recognition of her game-changing work at FITC driving innovation, transformation and inspiring leadership.

South African bank up for sale as Bidvest boosts profits

The Commercial Products and Automotive divisions faced headwinds due to the high renewables base and a declining new vehicle market.

The two-pot system is here – fund members in South Africa beware

The system is designed to ensure South Africans can access some of their savings in an emergency while maintaining the majority of their funds for retirement.

Forex crisis: Nigeria’s foreign trade payments crash by 57%

An analysis of the CBN data showed that the highest LC payments this year were recorded in February at $102.59m, followed by July at $79.65m and $58.33m in January.

A stronger GDP growth in Q2 ‘24

The stronger growth in Q2 ’24 was buoyed by the sustained expansion in both the oil and non-oil economy.

Moderation in inflation expectations

Today, we examine data from the price watch series

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