Managers of Wealth Africa

ChitChat and Mastercard Launch Virtual Debit Cards

The application boasts an interactive chat functionality where users can discuss expenses directly and enable them to instantly transfer funds using the virtual card, without any fuss.

The 6 people in charge of interest rates in South Africa

A higher interest rate also strengthens the rand, improving returns on rand-based investments and lowering the prices of imported goods.

Absa Bank Kenya Plc Reports 34% Growth in Q1 2024 Profit to Kshs. 5.9 Billion

Customer deposits rose by 14% to Kshs.355 billion, and customer assets grew by 5% to Kshs.327 billion.

Standard Chartered Ghana pays dividend of GHC397 million

The Bank of Ghana in a January 2023 directive instructed banks to suspend dividend payments.

Globus Bank Relocates Head Office as Agusto & Co., GCR Reaffirms National Credit Rating of A-, Stable Outlook

The rating according to Agusto & Co, reflects the bank’s good profitability, acceptable capitalization ratios, and experienced management team.

Zenith Bank grosses N2.1tr in first half

The half-year results came as existing shareholders and new investors continue to show strong appetite for Zenith Bank’s shares.

Capitec says payday outages will be solved ‘in a few months’

The move to AWS is a pivotal part of its strategy to mitigate the notorious payday service outages.

Meet the Chief Risk Officers (CROs) of Nigeria’s largest banks

In 2023, the banking sector saw a substantial 114.89% growth on the NGX banking index, reflecting strong investor confidence.

Five Banks Generate N1.62tn from Loans to Customers

Analysis of the select banks’ unaudited results and accounts showed that Ecobank, a pan-African financial institution generated N641.08 billion interest income

American Express Expands Footprint in Africa

The American Express network powers our presence in Sub-Saharan Africa.

Standard Bank Group announces higher earnings and increased dividends

The operational achievements include a 5% increase in active clients

Another international bank looking to exit South Africa

The details of any potential deals have yet to be finalised, and there is no guarantee that any transactions will go ahead

Union Bank reports 20% growth, despite CBN’s intervention

At the beginning of the year, our top priority was to keep the momentum going with a strong focus on stability following the intervention of the Central Bank of Nigeria.

Mastercard collaborates with fintech startup Scale across Africa and Middle East

Mastercard and Scale will support fintech companies and other ecosystem players in securing BIN sponsorships

Standard Bank eyes Kenya, Ethiopia for future growth

‘The case for East Africa is clear and simple: it is the fastest growing sub-region’ – Tshabalala.

South Africa’s Standard Bank posts 4% rise in half-year profit

Net interest income (NII) – the amount banks earn from loans minus what they pay on deposits- in its banking business grew by 7%.

Mozambique: H1 profits of five largest banks up 9.5%

Stanbic Africa is a wholly-owned entity of the Standard Bank Group, an investment bank incorporated in South Africa.

Good news for retail in South Africa

Sales of hardware, paint and glass fell -1.1% y/y. Specialised stores selling food beverages and tobacco also reported a decline in sales of -1.5% y/y.

Ecobank grows profit to N311bn

This was disclosed in Ecobank Group’s performance report for the first six months of 2024.

17 jobs in South Africa where salaries have more than doubled

The story of South Africa’s anaemic salary growth is also apparent in official data.

Retail Banking