Managers of Wealth Africa

3 big changes Capitec customers can expect in the coming months

“We build our bank around our client’s needs at an affordable cost – not around how other banks are doing business,”

Egyptian Banking Institute expands training programmes in Egypt, Africa during FY2022

In continuation of the EBI’s role in supporting the development of human capital in the African banking sector

Capitec reports surge in customers, hikes dividend on strong growth

Lending income grew by 13% to R8.0 billion, net credit life insurance and funeral plan income grew by 64% to R1.5 billion, and net transaction income (including net foreign currency income) grew by 8% to R5.6 billion, the bank said.

One of the USA’s biggest retail brands is coming to South Africa

Circle K vice president Pat Fitzpatrick said that South Africa presents Circle K with “compelling opportunities for growth” as the brand continues to expand in global markets.

ProvidusBank, Mastercard, Interswitch, Thales Launch Contactless Tap-to-Pay Transactions via Smart Devices in Nigeria

All Mastercard transactions are made with industry-standard EMV-level security and are protected using standards-based payment tokens.

Equity has emerged as the Best Bank in COVID-19 Response and SME Financing at the 2021 SFI Catalyst Awards

Additionally, the Bank restructured loans and offered loan repayment moratoriums to its customers enabling them to restructure, retool and repurpose.

East Africa’s Top Banks in 2022

Ethiopian banks have improved their performance in our annual survey of Africa's Top Banks, but the East African banking sector shows signs of weakness.

Absa Group projects ¢12 to a dollar end-year rate

Ghana commenced formal talks with the International Monetary Fund on Monday, September 26, 2022.

Absa Bank Kenya taps Huawei for digital transformation

The tie-up will see Huawei support the creation of a platform to support the bank’s digital transformation.

Bank costs fall on digitisation and higher interest income

Lenders have been leveraging on digitisation to cut overheads, and at the same time increase their non-funded income through the fees that use of these alternative banking channels generate.

Herbert Wigwe: Steering Access Corporation’s Sustainable Growth

Its profit before tax rose marginally by 0.42 per cent to N97.791 billion from N97.379 billion reported in 2021.

Co-Op Bank Tops In The 2021 Sustainable Finance Initiative Awards

Co-operative Bank also led in the category of the Most Innovative Bank

KCB shareholders have approved the acquisition of Trust Merchant Bank SA in DRC

With an insurance subsidiary called Affrissur SA, the transaction will provide a good platform for KCB to diversify its offerings in the region.

UBA to begin cross-border transactions with PAPSS in Q4

The six countries selected for the first phase of documentation and pilots are: Nigeria, Ghana, Sierra Leone, Guinea, Liberia and Gambia.

First Bank to suspend int’l transactions on naira cards Sep 30

The development comes on the back of foreign exchange scarcity — affecting key sectors — which the country is currently battling.

We've helped build Kenya's payments ecosystem

Now, the firm is looking to strengthen its market position in Kenya’s payments ecosystem with setting up a domestic switch later this year.

South Africa’s biggest banks are changing course – but economists are worried

Underpinned by strong transactional activity and revenue growth across product lines, industry sectors and banking franchises, combined headline earnings grew 19% (R48.3 billion) when compared to the year before, said PwC.

Battle of the banks 2022: Capitec vs Standard Bank vs FNB vs Absa vs Nedbank

Referred to as the ‘big five’, these firms go beyond retail offerings

MPR Hike: 13 Banks Generates N2.04trn Interest from Customers Loans, Securities investment

The MPR was moved to 14 per cent in July 2022.

We’ll Expand Services Beyond Africa To Increase Capital Inflow Into Nigeria — UBA

He emphasised the digital strategy of the Exchange and its commitment to leveraging technology to drive retail participation and increase liquidity in the market.

Retail Banking