04/06/2023
South Africa’s Peach Payments lands $31m Series A funding
“We want to be the infrastructure layer they build their business on. This was our original vision when we started, and is more relevant today than ever,”
Retail Banking
04/05/2023
Use of multiple bank accounts declines to 48pc
The banking industry has benefited from the use of multiple accounts, allowing several institutions to earn revenue from a single customer.
03/31/2023
African Development Bank approves $147 million in subordinated debt to the Mauritius Commercial Bank
The financing is expected to catalyze additional deposits to expand MCB’s loan book, benefiting several Mauritian and African corporates, as well as SMEs.
03/30/2023
CBK signals costly loans after hiking rates to five-year high
The 9.5 percent rate is the highest since March 2018 and will egg banks on to make a fresh round of lending rate increases that will hurt businesses in a recovering economy.
03/28/2023
Banks insured deposits double to Sh710 billion
The deposit coverage limit was raised to Sh500,000 per account in July 2020 following amendments to the KDIC Act, which were to offer enhanced protection to banking depositors.
03/28/2023
‘Fraud slows down e-payment adoption’
Irechukwu noted that in recent months, social media had been awash with reports of fraud cases, with many of these cases going viral, embarrassing the banks involved.
03/24/2023
DRC market biggest for KCB, most profitable for Equity
NBK ranks as the second largest subsidiary for KCB ahead of BPR Rwanda
03/22/2023
Absa re-enters custodial business after the sale of unit to StanChart
The main revenue line for the custody business is from the fee you are charging
03/17/2023
Transfer money out of South Africa quickly and securely with Rand Swiss
You will also have peace of mind knowing that all Rand Swiss transactions are highly secure, and approved by the SARB.
03/16/2023
South Africa's real-time low value payments platform launches
The initial phase of PayShap will see the participation of the first cohort of banks: Absa, First National Bank, Standard Bank and Nedbank. More banks and non-banks are set to follow.
03/16/2023
Skills gap poses a huge security risk for businesses in South Africa
Most companies (74%) rely on IT staff to manage their technology
03/15/2023
Absa reports highest earnings in its history despite hit from Ghana
The bank’s impairment charges increased 61% to R13.7bn after it was forced to raise R2.7bn in coverage to cushion it against its Ghana sovereign debt exposures.
03/14/2023
New bank launching in South Africa in 2024
The group received Section 13 approval from the Prudential Authority to proceed with the application for a banking license in November 2022.
03/13/2023
DTB and Mastercard Join Forces to Empower Fintechs with Payment Cards in Kenya
The Bank has also received approval from the Central Bank of Kenya to offer cards-as-a-service using its regulatory licence to tech-enabled approved partners.
03/10/2023
Standard Bank makes $81 million provision for Ghana bond losses
The restructuring is a key condition for the nation to finalize access to a $3 billion bailout from the International Monetary Fund.
03/09/2023
S.Africa's Standard Bank reports 33% rise in full year profit
Standard Bank, the continent's largest lender by assets, said in 2023 it expects its net interest income - the main growth metric for banks - to be driven by renewables and infrastructure and higher interest rates.
03/09/2023
Bank of Ghana Approves New Payment Service Provider
The payments space in Ghana has been growing since the Bank of Ghana introduced the Payment Systems and Services Act (2019)
03/07/2023
FG records N7.34tn fiscal deficit in 11 months – Report
From January to November 2022, the Federal Government incurred a fiscal deficit of N7.34tn.
03/07/2023
Ecobank, Visa Partner To Equip MSMEs With Skill
The online training forms part of the Ecobank’s MSME Booster series and offers online learning tools for MSMEs seeking growth as they prepare for the new business year.
03/03/2023
FNB adding wealthier clients as it hits 8 million customers in South Africa
Including commercial customers, FNB’s South African client base now sits at 9.24 million (up 5%) while total active customers across the entire group also increased by 5% to 11.22 million.