Managers of Wealth Africa

Ecobank, AMA announce 2022 Africa Financial Journalist Awards winners

In August 2022 over 400 journalists from 30 African countries were selected to participate in the Programme.

More consumer pain as the shilling hits new historic low

Main imports into the country include petroleum products, machinery, medicine, vegetable oil, pharmaceuticals, cars, wheat and clothing.

IMF agrees to lend Kenya $447 million for budgetary support

The IMF noted that Kenya’s economy remains stable and projects it to grow by 5.3 per cent this year despite a challenging global environment but warned that climate-related risks are elevated in the medium-term.

Tier-1 banking stocks lift equity market by N53bn

Market breadth closed negative as nine stocks advanced, while eight others declined.

FG Raised N3.06trn from Bond Market in 2022, Records 53.2% Oversubscription

The debt office eventually allocated N1.84trillion to investors despite mixed interest rates.

Sterling Bank Launches MBN, to showcase Best of Nigeria at Maiden Fair

Abubakar said the two-day event is the perfect avenue for Nigerian businesses to showcase and promote their products on a global scale

Old Mutual Unveils Investment Product For Pensioners

Other benefits include enhancing investment returns by increasing investment performance within acceptable risk tolerance levels, reducing the volatility of portfolio returns and enhancing diversification by lowering concentration risk and returns correla

Pan-African early-stage firm Ventures Platform closes fund, hits $46M

The majority of these investments were made at the pre-seed and seed stages.

South African business environment deteriorates

While the increase in corporate savings is largely due to changes in seasonally adjusted operating surpluses and tax payments, it comes as rolling blackouts occurred for almost half of the time in the third quarter.

EG Capital Announces Successful Anchor Closing of its maiden fund, the EG-Economic Empowerment Fund LP

EG Capital's management team made the announcement on 14th December 2022

South Africa’s biggest industry is in a downward spiral

Mineral sales grew by 0.5% YoY in October, slower than 21% in September.

Equinix to Invest $160 Million in South Africa Data Center Entry

Deal forms part of US data center firm’s Africa expansion push

Rapidly rising rates a mixed blessing for banks

Tourism and agriculture are doing well for SA, and economists now expect the economy could grow at 2% or better for 2022

Africa Finance Corporation Diversifies Shareholders with Equity from Côte d’Ivoire, Mauritius and AfricaRe

“The significant level of investment in our country is proof that AFC lives up to its reputation

AfDB raises US$8,9bn for Africa

AfDB disclosed the funding package at the fourth and final meetings of the new replenishment (ADF16) in Morocco.

World Bank targets to pump Sh306bn in Kenyan projects

These funds will be provided in the next four years starting 2023, with the World Bank expected to push for adoption of PPPs to help lower the country’s risk to default by mobilizing more private capital, including green and climate financing.

Eskom sets grim record as 47% of the grid goes down

Back to stage 6 load-shedding as power utility suffers near-record levels of unplanned outages

Nigeria-listed Airtel Africa gets $194mln IFC loan to expand Africa operations

The facility has a tenor of eight years and provides more diversified access to local funding

World Bank faults Uhuru’s growth for helping the rich

“Robust GDP per capita growth since 2005, along with growth in private consumption, saw the share of the population living below the international poverty line fall from 43.9 to 33.4 per cent (2015-2019).”

Private firms' jobs rise fastest in 4 months

Hiring has however declined in the wholesale and retail sectors and remained unchanged in construction.

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