Managers of Wealth Africa

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.

‘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.

DRC market biggest for KCB, most profitable for Equity

NBK ranks as the second largest subsidiary for KCB ahead of BPR Rwanda

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

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.

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.

Skills gap poses a huge security risk for businesses in South Africa

Most companies (74%) rely on IT staff to manage their technology

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.

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.

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.

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.

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.

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)

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.

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.

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.

Kenyans return to banking halls despite digital shift

Other banking channels have also registered increased usage with the preference for automated teller machines

United Capital’s Annual Profit Falls Despite N27bn Record Revenue

Profits took the most blow from the need to set aside N6.2 billion from revenue to cover loans.

Banks’ assets rise to N73tn – CBN

This impressive increase was achieved amid continued decline in non-performing loans ratio from 4.90 per cent in December 2021 to 4.20 per cent in December 2022.”

Bank loan rates increase to highest level in 52 months

The lenders are reacting to the CBK’s decision of September 29 that raised the benchmark interest rate by 75 basis points to 8.25 percent to anchor inflation expectations.

Retail Banking