Managers of Wealth Africa

Your partner in Finance

It’s frustrating to be a business owner in South Africa.

Sh187.7bn debt unnerves investors in KQ equity stake sale

The management of the airline also disclosed it was in the process of identifying a financial adviser to help develop an investor memo to guide the selection of the preferred investor(s).

TrustBanc shareholders approve N1.5bn capital injection

Based on DataPro’s analysis, TrustBanc’s assets were predominantly composed of liquid assets, accounting for 89 per cent of the total assets as of the end of 2022.

Ramaphosa charms business back into his corner

Executives in South Africa have been criticising the government and Ramaphosa for months, warning that not enough was being done to keep the country from becoming a failed state.

Scrapping COO role helped Eskom’s performance says Makwana

The chairman expects Eskom to turn a corner by 2025 and that the energy availability factor could potentially rise to 70% by then.

Six per cent GDP growth projection unachievable, says KPMG

It added that the achievable GDP growth rate within the next four years would be around 4-4.5 per cent.

Big loss for Multichoice

The group said that the reduction in earnings and headline earnings per share is partly due to the higher unrealised foreign exchange losses

Investmint – Connecting growing South African SMEs with investors

Investmint was started by Gareth Price in 2017 and the platform was officially launched in 2019.

Don’t pop the champagne just yet, economists warn

“We forecast GDP growth of only 0.1% in 2023, with the risks to our forecasts remaining on the downside,”

FG records N930bn two-month fiscal deficits – CBN

The report said accretion into the federation account decreased by 32.3 per cent in February relative to the preceding month, on account of the 60.2 per cent fall in oil revenue.

Ghana debt restructuring: Banks’ profits weaken as loan provisions rise

The group’s total exposure as of the end of 2022 was N167.55bn, its impairment stood at N35.55bn and its net position was N132.00bn.

Access Bank Targets Nigeria’s $4bn Trade with France, Launches Business Desk

“The Business Desk will provide tailored support and guidance to French businesses operating in Nigeria, as well as Nigerian businesses seeking to expand their presence in France.”

Fiducia to Drive Growth in Nigeria’s Supply Chain Financing to N12trn

Supply Chain Finance is emerging as an effective instrument to reduce financing gaps in developing markets.

Co-op in early payment of Sh8.8 billion dividend

Co-op Bank increased its dividend payout by 50 percent to Sh1.5 per share for the year ended December 2022. The enhanced dividend was paid to shareholders who were on record as of May 24, 2022.

Unity Bank Grows Gross Earnings to N57bn, Profit Up 21%

Similarly, income from fees and commissions recorded significant growth, rising by 25.7 per cent to N7.68 billion from N6.1 billion within the period under review.

Absa doubles gold units at NSE on high demand

The doubling of the listed units came on the back of increased demand, with a total of 827,400 units traded last year compared to 75,800 units in the previous year, representing a 10.9 times jump in volumes.

Nairobi exchange’s data revenue rallies to Sh93m

Data now brings more revenue than fees on bond trades which increased 18.4 percent to Sh79.3 million from a restated Sh66.9 million.

Banking sector faces rising risk to asset quality, capital buffers – Report

It said the updated summary of economic and financial data by the Bank of Ghana revealed further weakening in asset quality and erosion in capital buffers during the first 4-months of 2023.

Government’s plan to cut 4 stages of load shedding in the next 18 months

South Africa’s state companies are in a dire state. The country is suffering power cuts of more than 10 hours a day because Eskom can’t meet demand.

DP World partners with Standard Bank to finance businesses in Africa

Since July 2021, DP World Trade Finance has partnered with 23 financial institutions and generated over $700 million in credit limit submissions

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