Managers of Wealth Africa

Rwanda to float $21 million bond to finance infrastructure

The five-year bond will be issued on 27 August. The coupon rate is yet to be announced pending results from a market study.

Zimbabwe: Atlas Mara Seals Bancabc Deal

Bob Diamond's co-founded Atlas Mara has completed the acquisition of BancABC's parent company and African Development Corporation (ADC) in the first step towards realising its dream of becoming a giant financial services group in sub-Saharan Afr

Kunoch acquires stake in Diamond Bank

Actis DB Holdings Limited currently holds 14.79 per cent of the issued share capital of Diamond Bank.

Africa enjoys renewables investment surge

The company said the prospective capacity boost was "small by world standards"

Fall of the Titans: The Story of African Bank and Lehman Brothers

In early August this year, African Bank, the banking arm of African Bank Investments Limited, received a 1.6 billion US dollar bailout by the South African Reserve Bank

African Development Bank’s return to Cote d’Ivoire is ‘symbol of confidence’

Kaberuka said the bank would be a “symbol of the renaissance of the Ivorian economy after a decade of recession

Abil board beguiled by CEO's toxic charm

The gist of the statement, according to Mr Verster, is this: African Bank’s management made a compelling argument.

South African funds don't invest in their backyard

It is not just European and U.S. pension funds that are slow to invest in the opportunities available on the Africa continent: South Africa-based funds also need encouragement.

Asset managers’ systems ‘couldn’t cope’ with collapse

Wierzycka says administration systems were not capable of dealing with negative yields and had to be overridden manually, which resulted in human error.

Absa ditches African Bank investments

Absa Bank has removed all African Bank Investments Limited investments (Abil) from its Absa Money Market Fund

International Housing Solutions’ second private equity fund creates 20,000 SA homes

The Board of Directors of the Overseas Private Investment Corporation (OPIC), the U.S. Government’s Development Finance Institution, has approved $80 million in financing for International Housing Solutions Fund II, the private equity fund that prov

SA Reserve Bank jumps in to deter capital flight

African Bank Investments Limited is no stranger to dire straits – after peaking at R40.49 on April fool’s day in 2012, its share price tumbled erratically to reach R6.88 on August 4.

South African commodity hedge fund to launch two new funds

As a consequence of asset growth and successful investment results, BlueAlpha transferred the investment management function for the Polar Star Funds to a new entity, Polar Star Management

We’re sorry says Coronation Fund Managers

As its stake in African Bank wiped out.

NIGERIA: Sovereign Trust Insurance to Raise Fresh Capital

Sovereign Trust Insurance has been growing its business in the last five years

US hedge fund bet against African Bank in 2013

African Bank has engaged in risky lending practices such as very large unsecured loans

Money-Market Investors Risk Losses on African Bank Debt

Funds may use one day’s worth of accrued interest to offset losses, the Financial Services Board said in a circular to money managers yesterday.

Stanbic IBTC unveils campaign to boost investment in mutual funds

A fund manager is hired to invest the cash the investors have contributed

CBZ sets up off shore fund in Mauritius

CBZ Holdings has set up a fund in Mauritius to mobilise offshore lines of credit to finance its local projects, group chief executive officer Never Nyemudzo has said.

IMF says ready to help Ghana address its economic challenges

Ghanaian President John Mahama last week ordered his government to open talks with the IMF as part of efforts to fix the economy and stabilise the cedi currency which has slumped around 40 percent this year.

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