Managers of Wealth Africa

Sparks of hope for South Africa – despite consumer crunch

Collectively, these conditions have put increasing pressure on consumers’ finances and led to reductions in business confidence and investment in most sectors other than energy.

FNB sounds the alarm for consumers in South Africa

The group saw a R477 million reduction in fee and commission income over the period, but this was due to sub-inflation fee increases across both retail and commercial accounts.

Access Holdings Expresses Commitment to Redefine Banking in Africa

In 2020, Access Holdings took a major step forward by acquiring a majority stake in Kenya-based Transnational Bank (TNB).

KCB Group, MasterCard in East Africa cards deal

In the partnership, the firms seek to deepen financial access, connect customers with novel experiences

Interest rates on bank loans race past 26pc in fresh review

Commercial banks are now charging more than 26 percent interest on loans in another round of credit repricing that signals more pain for risky borrowers amid a surge in defaults.

FirstBank Rewards Customers With 93m

Customers who have decided to remain with us for a long, long time.

Banks open to loan restructuring as higher rates, inflation raise defaults

The latest move is part of efforts to avert potential defaults and strengthen customer loyalty in a competitive banking sector.

Chinese e-commerce boom in South Africa – as local retailers cry foul

Temu is a fast-growing business in the country, having launched its South African site in January 2024.

Big surprise for retailers in South Africa – but consumers still feel the pain

Retail trade sales increased by a flat 0.1% in the fourth quarter of 2023 compared with the fourth quarter of 2022.

KCB, Visa launch premium card service for super-rich

The cardholders will enjoy faster rewards earning rates

Treasury takes Sh258 billion foreign loans in seven months

Kenya has meanwhile received Sh74.9 billion ($468 million) in project loans over the same period.

Access Bank Makes Changes, Releases Lists of Approved Charges on Customers' Savings, Current Account

Another is the quarterly debit card maintenance fee (Inclusive of VAT), which will attract a N53.75 charge, and the issuance fee for these cards is N1,000 (one-off charge) irrespective of the card type.

Co-op Bank raises daily ATM cash limit to Sh60,000

The weakening Kenyan shilling has left customers worse off given that they need more money to buy the same amount of goods.

Wema Bank doubles profit

The bank recently closed its Rights Issue where it raised about N39bn.

Afreximbank acts as Joint Global Coordinator on Arab Bank for Economic Development in Africa's (BADEA's) Inaugural EUR 500M Social Bond

The bond issuance was 3.0x oversubscribed off peak orderbook EUR 1.5B

Retail Banking