Managers of Wealth Africa

Major South African retailer hits 525 stores across South Africa

This reflected higher net finance costs associated with the new external debt introduced as part of the pre-IPO balance sheet restructuring.

Stanbic, Centenary, and Absa Dominate Uganda’s Banking Profits in 2024

Stanbic Bank, Centenary Bank, and Absa Bank Uganda emerged as the most profitable institutions, jointly accounting for over 60% of total earnings.

Concerns mount over disbursement of El-Rufai’s $350m World Bank loan in Kaduna

These council areas have been identified to be left in the lurch, years after the much-touted Urban Renewal Road projects initiated by the immediate past administration of ex-Governor Nasir El-Rufai took off.

Why South Africa’s instant payment system isn’t catching on

PayShap is South Africa’s instant payment system allowing transfers of up to $3,000

Ghana’s banking sector hit by rising fraud as 155 staff dismissed in 2024

Ghana’s banking sector continues to grapple with a growing wave of fraudulent activity, with 155 employees dismissed in 2024 for their involvement in fraud.

10 Banks With Highest Customer Deposits in Nigeria

ETI recorded the highest customer deposits among listed banks in 2024, totalling N31.64 trillion.

Bank AL Habib closes down operations in Kenya

The closure, according to the bank, follows a strategic review by its Board and a global restructuring aimed at improving operational efficiency.

Secret weapon for new South African bank taking on Capitec

The insurer has spent R2.8 billion since 2022 building out the bank and securing the retail banking licence.

Standard Bank fraud warning in South Africa

Scammers post fake job advertisements, which promise high salaries with minimal effort. However, their true purpose is to steal information or money.

African Banker Awards 2025: Shortlist of nominees announced

The ceremony’s platinum sponsor remains the African Guarantee Fund

Sterling Bank to Give Nigerians N1m Extra Every Month

It provides an advance to settle bills or make payments without delays, or any of the friction associated with traditional credit systems.

Banks’ customers to pay N6 per SMS transaction alert starting today

The SMS charges were increased by 50% to N6 from the previous N4 per message.

Nigeria: Zenith Bank assures shareholders of quantum leap in future dividends

The bank’s robust financial performance in 2024 alluded to its commitment to continually delivering value to its investors in spite of challenging macroeconomic conditions

Stealthy Buyer Takes Control Of Bankly, Nigeria’s Unbanked-Focused Fintech

Bankly CEO Tomilola Majekodunmi will stay on as an advisor to ensure a seamless transition and preserve the startup’s mission of driving last-mile financial inclusion.

Nedbank mourns the loss of board member Errol Kruger

“His legacy will continue to inspire us, and he willbe missed. Our thoughts and prayers are with his family during this difficult time.”

Big banks closing ATMs across South Africa

The report noted that 84% of South Africans surveyed prefer using cards or digital payments whenever possible.

IMF says Ghana’s $3b programme is on track and no need for extension

Fiscal slippages during the election period led to a large accumulation of payables, higher inflation than programme targets, and delays in reforms.

NDIC begins payment of N46bn to defunct Heritage Bank depositors

The NDIC began payment of the first tranche of liquidation dividends on April 25.

Bank fraud drops 26% in 2024

Remittance fraud also doubled from five reported cases to ten within the same period.

Nine Nigerian banks generate N14tn in revenue from customers’ interest in 2024

In contrast, the manufacturing sector, referred to as the real sector, laments increasing operational costs amounting to a combined figure of N2.5 trillion in 2024 alone.

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