Managers of Wealth Africa

PIDA initiatives have created 160,000 jobs in Africa

During project construction and operation, PIDA initiatives have created over 160,000 direct and indirect jobs, underscoring their impact on employment and livelihoods.

Africa is back on the map for equity investors

The currency moves in the largest four markets reflect challenging positive dollar returns.

A stronger GDP growth in Q3

The non-oil sector, which accounted for about c.94% of overall GDP, was the key driver of GDP growth.

Two pots on the JSE just got bigger

It is notable that two thirds say they have made withdrawals for home/car expenses, short-term debt and education.

FGN fiscal underperformance amid revenue shortfalls

The FGN's fiscal operations reveal a concerning trend, with revenues consistently falling short of expenditures, resulting in a sustained reliance on debt.

South Africa’s R48 billion untapped gold mine

SARS recently announced that R35 billion in outflows have occurred since the system’s launch.

SA’s international finance pledges for its energy transition now over $13bn

Significant as it is, current funding is a far cry from the R1.5-trillion SA needs to implement its plan

Ambitious budget plan amidst significant risks

The budget anticipates net revenue accruable to the Federation Account of NGN58.8trn

FirstBank hosts inaugural China-Africa interbank forum

This initiative was driven by the need to address the funding gap in Africa for industrialisation, infrastructure, and poverty alleviation.

It doesn’t look good for the NHI in South Africa

The worst performing province, which achieved an average rate of compliance of 15.89%, is the Northern Cape

Wema Bank Empowers over 40 SMEs for Global Success

Participants gained a comprehensive understanding of the export process, including the financial needs of exporters, global buyer expectations, and identifying potential international buyers.

R26,000 hit for some pension fund members in South Africa

Minister Godongwana revealed that as of 31 March 2024, only 108 of the country’s 257 municipalities were compliant with pension fund payments.

WAICA Re launches AFIN Bank UK

New £23.5 million venture bridges African expertise with international markets

Unrelenting rise in domestic debt

This implies increases of 9% q/q and 39% y/y.

External debt surges on naira volatility

Regarding composition, the Federal Government of Nigeria is responsible for approximately 89% of the country's total external debt.

FX Shortages Drags Financial Score

The current level of the FX reserves is close to the highest it has been since December 2021

Afreximbank delivers strong financial results for the nine months ended 30 September 2024

The Group’s profitability for the nine-month reporting period met expectations and showed significant improvement over the previous year, underscoring its resilience and operational efficiency.

The Role of Flexible Employee Benefits in Navigating Financial Strain

Knowing that, Old Mutual expected its clients to withdraw an estimated R14.2 billion from their retail retirement products and occupational schemes when the Two-Pot System went into effect.

Cost of living shock for South Africans

Encouragingly, some positive developments emerged during this period.

South Africa still ‘junk’

Analysts have noted that meaningful improvements in these ratings remain a distant goal.

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