Managers of Wealth Africa

Safaricom share rises to 63pc of entire NSE

Investors rushed to buy the company shares after it was awarded a licence on Saturday to enter Ethiopia’s underserved telecoms market.

KCB stopped from selling Mumias assets to recover Sh540m

Under the leasing deal, the successful firm will run the plant on behalf of KCB for up to 15 years and will pay the lender monthly leasing fees.

Ease listing to bridge African SMEs Sh33trn financing gap

Ultimately, the ratio of credit to the economy is very low in Africa, averaging less than 30 per cent of gross domestic product, compared with over 135 per cent in regions such as East Asia and the Pacific region.

Pensioners take loans to support families as Covid job cuts bite

The most common sources of loans were mobile apps (26 percent), commercial banks (23 percent), saccos (14 percent) and chamas (10 percent).

Wealth Fund That Quadrupled Profit Now Pivots With Bet on Europe

Orji, 51, has more than two decades of experience in international banking, with an MBA from Harvard Business School.

Investec reports strong second half earnings – but cautions over emerging third wave in South Africa

Tangible net asset value per share increased by 12.7% to 425.7 pence.

Sanlam Investments to raise further capital for impact funds

Sanlam Investments moved quickly in 2020, investing R2.25bn of Sanlam capital to seed the three Investors' Legacy Range funds which aim to preserve and create jobs and reignite economic growth.

Mauritius rejigs special purpose fund regime to gain 'financial' edge

As published in the India Business Standard

Employers to pay NHIF contributions for staff

This will see employers pay at least Sh25 billion to NHIF, a hit to firms that are yet to recover from coronavirus-induced slump, which triggered job cuts, hiring freezes and business closures.

NSE losses Sh74bn, retreats from highest level in three years

Portfolio rebalancing is when investors sell or buy different asset classes to achieve a desired overall asset allocation of their money based on risk appetite.

Equity Group invests Sh3.4bn in Tanzania, Uganda subsidiaries

The Tanzanian subsidiary reported a pre-tax loss of Sh426 million in the year ended December, widening it from Sh411 million a year earlier.

Invest Africa and Absa Group announce strategic collaboration

As trusted on the ground partners and an African diversified bank of significant stature, with the global connectivity to deliver Africa, Absa Group’s focus for the collaboration will centre on furthering local financial solutions in African markets

South Africa faces big credit rating decision this week

“S&P Global Ratings and Fitch Ratings will be reluctant to move a country with reasonably solid institutional governance and deep local financial markets below the psychological hurdle of a B rating.

Nigerian wealth funds record 33.3% asset growth in 2020

The growth was achieved despite a $150 million withdrawal from the Stabilization Fund by the Federal Government of Nigeria.

Still too few Black executives in SA, Sanlam Gauge report

The Sanlam Gauge, presented in partnership with the Sunday Times Business Times, reports on transformation in SA industries

Kenya’s crowded banking sector is ripe for consolidation, analysts say

“This makes a case for about 20-25 banks,” he says.

Mobile lender Branch to buy Sh230m microfinance majority stake

The acquirer and the target will each maintain the terms agreed with the borrowers in respect of all loans existing in their loan books at the time of the acquisition,”

KCB to spend Sh6bn in buying Rwandan, Tanzanian banks

“The group has made an offer to the remaining shareholders of BPR for the acquisition of the remaining stock at the same terms as Atlas Mara's to raise its ownership to 100 percent,” KCB says in its latest annual report.

Biggest Africa Fund Manager’s Staff Warn of ‘Existential Crisis’

Issue could prevent firm fulfilling social-development goals

Shifting the focus away from periodic KYC

Financial institutions in Mauritius generally perform a Periodic KYC exercise

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