Managers of Wealth Africa

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.

Union Bank empowers young entrepreneurs

The competition also aims to identify and reward outstanding business ideas demonstrating viability, sustainability, and social impact.

Verve International Named in Global Payments Power 50

Bringing together a diverse yet interconnected community, the Payments Power 50 will serve as a reminder of the significant strides being made in the payments space.

Banks are lowering their costs due to constrained consumer appetite for more credit

The average NIM declined by 6.25 basis points in 2024, in stark contrast to the 28 basis point increase the previous year.

Absa: Retail loans, investment banking boost profit

The Citywire AA-rated African bank is backed by a total of seven of the world’s top fund managers.

Big banks slash expectations for South Africa

The USA is one of South Africa’s largest trading partners, and the new tariffs are set to impact the economy severely.

Seven Nigerian banks to benefit from sovereign upgrade- Fitch Ratings

The ratings for these banks, except for Bank of Industry (BOI), are primarily driven by their standalone creditworthiness, expressed through Viability Ratings (VRs).

Standard Bank fraud alert for South Africa

Consumers also rely on online platforms with targeted online ads when shopping.

W’Bank lends Nigeria $1.08bn for education, nutrition, economic boost

The World Bank has approved three operations in Nigeria, totalling $1.08bn in concessional financing, to enhance education quality, build household and community resilience, and improve nutrition for underserved groups.

Sterling Bank Leads Protest for Removal of Bank Transfer Charges

The announcement, made on April 1st, initially sparked widespread arguments, with many assuming it was a marketing prank tied to April Fools’ Day.

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