Managers of Wealth Africa

Absa puts growth on hold to preserve cash

Absa is not the only company to put a damper on growth ambitions in the interest of preserving capital.

SA cashless payments startup Sticitt raises $249k funding

Sticitt has taken in two batches of funding in 2020 to cover operational expenses of its current market rollouts, which include the launch of its Sticitt Terminal application, allowing its merchants to accept tap or scan-to-pay payments.

Citi defies coronavirus with Western European corporate lending push

The 15 offices are predominantly in central and eastern Europe including Poland, Turkey and Russia.

Sipho Pityana appointed as Absa lead independent director

Absa also announced that former PwC Africa's chief operating officer, Fulvio Tonelli, will join the group as a non-independent non-executive director from 1 July 2020.

Virus Wipes 20% Off Income of South African Bank’s Customers

Banks have all extended relief to clients to help shore up their cash flows

Africa’s Largest Bank Is Getting Sucked Into A Pandemic-Shaped Hole

The decline may have been expected as the disruptions to finances and financial services, since the COVID-19 outbreak, have been quite significant.

Spooked Standard Bank sheds 5% on flagged profit decline

Standard Bank intends to release another earnings guidance at a later stage once it is confident about the guidance ranges.

U.S., Nigeria Square Up for Tussle Over African Bank Chief

Largest shareholder Nigeria says fresh probe undermines bank

NC, CBA merger to create Shs548b bank

The merger is expected to give the two banks an edge that is likely to build a relatively large financial base

Nigeria’s Access Bank injects $9m into Rwandan subsidiary

Access Bank Plc owns 75 per cent shareholding in its Rwandan subsidiary

Access Bank to customers: beware of scams

Access Bank is imploring its customers to be wary of any message, demanding their personal or bank details

SBM Bank reports Sh66 million Q1 profit before tax

The growth in business has largely been achieved through growth in loans and advances and customer deposits, the lender has said.

Equity Bank Q1 profit drops 14pc to Sh5.2bn

Equity Bank, which has restructured Sh92 billion or 25.1 percent of its loan book due to the pandemic’s decided to recall proposed dividend payout of Sh2.50 per share or a total of Sh9.4 billion to conserve cash as the coronavirus bites.

Access Bank Urges Customers to be Wary of Scams

Because of the peculiar nature of the lockdown situation, people are exposed to all sorts of threats including financial that may sometimes come in different and unusual format.

CBK holds benchmark lending rate at seven percent

The banking sector remains stable, it said, adding that fiscal stimulus measures unveiled by the government would kick in strongly in the financial year starting in July.

OIGARA: KCB Group remains resilient even in the face of a difficult period

Under the prevailing circumstances it is a good performance.

Absa posts 3pc profit growth in first quarter

Absa’s mainstay lending business generated total interest revenue of Sh7.6 billion, a 2.7 percent increase from Sh7.4 billion the year before.

Access Bank urges customers to be wary of scams

Customers must remember that the Bank will never ask for their BVN, full card PAN, PIN, mobile app activation code, OTP or password as it is readily available to the Bank via its database.

SA Development Bank seeks loans to plug funding gap

The bank provides credit to government clients throughout sub-Saharan Africa in sectors ranging from information and communications technology to transport, water and energy.

Is Treasury killing fintech innovations?

Even in cases of credit guarantee schemes for MSMEs, the sector has had no energy to stimulate growth.

Retail Banking