Managers of Wealth Africa

Nigeria development banks’ capitalisation need improvement – AfDB boss

The deepening of the domestic capital markets will further allow companies to access the equity financing they need to grow their businesses.

Inter-bank lending charges fall on increased liquidity

The improved liquidity has been attributed to government spending at the start of the new financial year through payments to contractors and disbursements to counties and ministries.

African Bank partners with Soweto Marathon ‘for the people’

People often resonate during difficult times than when there’s joy. And we felt the need to get close to the race because we understand that without funding the race would not go on.

Neobanking has arrived in South Africa – Join the Xhuma revolution

Xhuma’s wide feature set eliminates the need for multiple apps, thereby simplifying financial transactions, and even introduces fun features like personalized GIFs and stickers that are linked to instant money transfers.

Ecobank demands rejection of Otudeko’s First Bank comeback over N13.5bn debt

The development comes after Otudeko staged a comeback with his 13.3 percent stake in FBNH after snapping up 4.7 billion shares through Barbican Capital

Banks Make Provisions as Customers’ Claim Via Litigations Hit N4.1tn

Union Bank of Nigeria as of the 2022 financial year litigations stood N1.497trillion from N1.98trillion in 2021.

Ecobank Nigeria Wins Award For Promoting Gender Balance

“IFC remains resolute in our commitment to sustain the momentum and support the private sector to scale up its efforts for a more gender-balanced, prosperous future.”

Kenya taps Sh3.4bn to cover debt repayment shortfalls

CBK data show that the shilling has depreciated by 13.9 percent against the US dollar since the start of 2023 and is now exchanging at 140.52 units to the greenback.

South Africa’s biggest banks are hiring – here’s what they are looking for

Discovery Bank, FNB and African Bank also said they were searching for those with STEM and IT skills among their employees.

Afreximbank Pan-African Business Awards : FBN Bank Ghana’s Parent Bank recognized

With its subsidiaries across the FirstBank Group, FirstBank has continued to play a leading role in boosting cross-border businesses

Big changes coming to banks in South Africa

Relevant changes are expected to be published for public consultation during the upcoming financial year.

Safaricom customers set to make payments with Internet bundles

The provision is accessible to both Safaricom post-pay customers with a data balance of 5GB and above as well as to prepaid customers with ‘no expiry’ bundles above 5GB.

Kenyans default on Sh83bn bank loans in 4 months

The stock of bad loans rose from Sh487.7 billion in December to close April at Sh570.6 billion, with the worsening of the NPLs ratio in May pointing to a further rise in non-payments.

Banks shut ATMs to 11-year low on digital, agency banking uptake rise

The continued drop in the number of ATMs, which were once the epitome of convenience, reflects the impact of the growing popularity of agents, internet and mobile banking among customers as they search for even more convenience.

Banks give best returns on deposits in 5 years

The lenders have in the past responded to higher deposit rates by raising the interest rates they charge on customer loans to protect their margins.

Zenith Bank’s Adam, named Chief Financial Officer of the year at All Africa Business Leaders awards

He dedicated the award to the Founder and Chairman of Zenith Bank Plc, Jim Ovia, while expressing his gratitude to the management of Zenith Bank

First Bank gets recognition

Speaking on the awards, the Chief Executive Officer of FirstBank, Dr Adesola Adeduntan

Mozambican Banks To Be the Most Profitable in the SADC Region in 2022

In general, the report said that the main profitability indicators of the banking sector were relatively higher than in the same period last year.

Afreximbank launches Insurance subsidiary to support intra-African trade

Insurance penetration is relatively low in Africa compared to other regions

KCB lends Sh193bn through Fuliza, M-Pesa platforms

The growth in mobile loans was an increase from the Sh157.6 billion the lender distributed in 2021.

Retail Banking