Innovations in sustainable finance and digital transformation, alongside important initiatives in transparency and regulation, will help reinvigorate Africa’s financial markets as they recover from the impact of Covid-19, according to research in the latest African Financial Markets Index from Absa and OMFIF.
Sanlam, Africa’s largest non-banking financial services group, and Absa, one of Africa’s largest diversified financial services groups, today announced that they have reached agreement to combine their investment management businesses in a transaction which will result in an asset management company with assets under management, administration and advice in excess of R1 trillion.
Financial services provider, Absa Group Limited, plans to implement a second significant broad-based black economic empowerment (B-BBEE) transaction as part of its broader efforts to achieve transformation in a meaningful and sustainable way.
Following the devastating scenes of unrest and violence in parts of South Africa, and the vandalising of infrastructure, Absa has introduced a range of customised relief measures for customers impacted by the recent disorder.
The Q2 Absa Manufacturing Survey has seen a significant improvement in overall sector confidence, with business confidence rising by 21 points to 46 points during the quarter, the highest level since 2012.
Recently, fixed income investors have been roiling from the news that one of South Africa’s largest money market funds will be closing its doors to investors. As a result, many fixed income investors are now forced to explore alternative investment options at short notice.
Visit the official COVID-19 government website to stay informed: sacoronavirus.co.za