Managers of Wealth Africa

Kenya benchmarks Egypt’s 11pc in Eurobond buyback

The disclosure to the House committee comes amid prior announcements detailing how Kenya was gearing to settle the significant maturity in a year.

Don’t shy away from offshore investments in your living annuity

Regulation 28 under the Pension Funds Act imposes limits on a retirement fund’s offshore exposure: currently, no more than 45% of the portfolio may be invested outside South Africa.

Kenya’s president proposes $500bln global credit line for ‘struggling’ economies

Ruto says loans should have a 50-year maturity period and a 10-20-year grace period

Kamau Thugge strikes, sets tone with highest loan rate in seven years

The government, which is expected to tap the majority of its debt financing for the new financial year from the domestic market, will also not be spared.

Q1 2023 debt servicing rose to N1.24tn – Report

The International Monetary Fund recently said the Federal Government projected to spend 82 per cent of its revenue on interest payments in 2023.

Total, Africa Oil Kenya exits spook investors

Total Energies and Africa Oil quit in May and relinquished their stakes for free, exerting new pressure on the main operator, Tullow, which has been unable to take the project off the ground after running out of cash.

Zambia seals $6.3bln debt restructuring deal

Of the $6.3bln in debt owed to government bodies, $4.1bln was owed specifically to Export-Import Bank of China, says official

Titans of business recognised at the Afreximbank Pan-African Business and Development Awards

The Pan-African Business and Development Awards were designed to celebrate and recognise the excellence of outstanding organisations and individuals within the African business and finance sectors.

DMO worries over low revenue as Nigeria’s debt nears N81tn

In the report, the DMO warned that the Federal Government’s projected revenue of N10tn for 2023 cannot support fresh borrowings.

Gauteng remains open for business, amid socio-economic realities

Gauteng has for many years been a leading tourism destination in Africa.

Cornerstone Insurance premium hits N22bn

The chairman said it ended the financial year with a profit before tax of N2.92bn

Budget controller flags Sh5.7bn salaries paid outside payroll

The payment of salaries by the State agencies outside the payroll system coincided with liquidity pressures in government

Tony Elumelu’s investment across Africa and business impact

Our main aim is to support African companies – in particular, small to medium sized enterprises (SMEs)

OPEC Fund loan to Access Bank Botswana will boost lending to women-owned businesses

The funds will help address the financing access gap experienced by many MSMEs

The upstarts challenging banks in the forex market

Thought to be worth R15bn a year in profits to the major banks, it’s a market that is begging for disruption – and several new challengers are happy to oblige.

Popoola: NGX to Sustain Drive Towards Attracting Capital Around Sustainability

Popoola while commending the growth of Guinness Nigeria in the last few years, said that the NGX has very big ambitions on sustainability and will continue its drive towards attracting capital around sustainability.

Seven-year infrastructure bond oversubscription eases cash jitters

The high interest in the paper has, however, come as a surprise to analysts with the subscription rate beating many of their expectations.

African Development Bank Group Annual Report 2022: Bank Group demonstrates strong performance and commitment to African countries

US$8.2 billion in approvals to African member countries

Equity snaps up Rwanda bank in Sh6.7bn deal

Equity will buy the stake from the Government of Rwanda, Rwanda Social Security Board, Sanlam Vie Plc and Ms Judith Mugirasoni and plans to eventually make an offer to buy the remaining shares.

Stanbic Bank to Reinforce its Role in East Africa’s Oil and Gas sector at South Sudan Energy Summit

South Sudan currently boasts the third largest oil reserves in sub-Saharan Africa

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