Managers of Wealth Africa

Afreximbank mobilises $35b for African devt — Oramah

Prof. Oramah noted that African leaders, in the 1960s had taken steps for the continent to work together to pull the region out of its economic backwardness.

African Youths Are Catalytic Force to Propel AfCFTA, Says Afreximbank Boss

“It is our view that the youths will be catalytic force to the realisation of the AfCFTA agenda.”

Fitch Affirms UBA’s Rating at ‘B’, Outlook Stable

It noted that UBA’s National Ratings are driven by the bank’s standalone strength.

Bahrain ranks among top 10 performing MENA ecosystems in Global Startup Ecosystem Report

Ecosystem valuation jumped over 460% to reach more than half a billion US dollars in 2022

Mauritius Commercial Bank to open Nigeria office in Africa growth plan

MCB, which has $850 million in exposure in Nigeria, already has representative offices in Nairobi and Johannesburg as part of its push into Africa, in addition to its offices in Dubai and Paris.

Standard Chartered claims unwavering support for Africa

Its tagline ‘We’re here for good’ may refer more to the bank’s hope to be a driving force for positive and sustainable change across its key geographies.

Firstbank Secures $150m Afreximbank PATIMFA to Support Nigerian Businesses

The loan, it added, will also be used for the financing of trade debt payments falling due to avert payment defaults in trade debt obligations.

African economy on the upbeat despite pressures

The report said, “Africa’s growth forecast for 2022 points to continued fortitude even in the face of heightening inflationary pressures and geopolitical risks.

Banks reward savings accounts with 1.28%, lending hits 26.61%

With an inflation rate of 16.82 per cent as of April, he said if a person was getting returns as low as 1.28 per cent on savings, the gap was going to be too wide and there would be saver loses.

Discovery Bank to refund Vitality clients affected by Comair shutdown

The group went into business rescue in May 2020 after Covid-19 pandemic era lockdowns, travel bans, as well as rising fuel prices, wreaked havoc on the travel industry.

Nigeria’s Access Bank acquires Kenya’s Sidian Bank for $36.7m

The deal is said to still be subject to regulatory approvals in Nigeria and Kenya and will add to the acquisition deals in Kenya’s banking sector.

TymeBank is adding 130,000 people a month in South Africa – but there’s a hitch

“TymeBank is sustaining the momentum of acquiring about 130,000 customers per month."

African Development Bank to launch public financial management academy to build capacity in African countries

The Bank will establish a Policy Laboratory Unit comprised of certified global experts on public financial management who will be the faculty members to deliver the courses.

Bank profits up in Q1

The improving profitability among commercial banks comes as credit growth also increases, with total outstanding loans to all sectors rising to P69.6 billion in March, compared to P69 billion in February and P65.6 billion in March 2021.

Access Bank in fresh $37m Kenya acquisition deal

The deal is a continuation of the bank’s inorganic growth trajectory.

FNB is downsizing its branches – and making them greener

The bank has also revealed plans to continuously modernise its branches, with a strong emphasis on digitisation, improved client service, and optimal cash solutions for customers.

UMB innovates with Digital solution for Ghana Card linkage to accounts

This is in line with the Bank of Ghana’s and the government’s strategy to make the Ghana Card the primary ID in the country.

Afreximbank Backs Titan Trust Bank with a $300m Intra-African Investment Finance Facility

“The development impact of the acquisition is immense as TTB will leverage the merged entity to provide financing of about $3 billion over the medium term of which over $600 million will directly support intra-regional trade finance,”

Vietnam’s MSB Selects Temenos to Modernize Retail and Corporate Banking

Temenos open platform for composable banking will accelerate MSB’s digital transformation and scalability

Co-op Bank Wins Bank of the Year Award at Ghana Event

The African Banker Awards are a landmark annual event for African banking taking place during the annual meetings of the African Development Bank (AfDB).

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