Managers of Wealth Africa

Co-op Bank Q3 profit rises to Sh18 billion

Rising interest rates are expected to lift lending margins for banks

Africa needs strong domestic corporate banks to drive development

Essentially, these banks ensure the ease of doing business in Africa by making financial transactions easier and enabling businesses to adapt to rapid changes

Fund managers fight for assets in tough race for lucrative fees

According to Zimele CEO Isaac Njuguna, fund managers have been angling to take advantage of the opportunity represented by millions of retail investors who are looking to save and invest through active intermediaries.

Again, TAJBank wins BusinessDay’s Islamic Bank of The Year’ award

The award recognises TAJBank’s commitment to world-class services, impressive financial performance, and consistent leadership in the nation’s financial inclusion drive over the last three years.

Absa Life loses Sh65m MPs cover review plea

Absa Life Assurance had argued that the winning bidder failed to include in its workings the stamp duty and policyholders’ compensation fund levy and thus ought to have been disqualified.

Interest rate cuts are risky for South Africa: economist

When global inflation skyrocketed in 2021, several Latin American central banks were the first to raise interest rates before the US Fed began tightening.

Zenith Bank’s Q3 profit rises to N505bn

Profit after tax also grew by 149 percent from N174.3bn to N434.2bn within the same period.

Afreximbank’s Rene Awambeng Named in Powerlist Black Excellence Awards

Oramah, also emphasised that the achievements represented the beginning of an even greater journey ahead.

FBN Holdings’ nine-month profit jumps 159% to N236bn

At the same time, our credit risk portfolio remains healthy, with an NPL ratio of 4.6 percent and a coverage of 85.4 percent.

South African consumers are struggling – but still find money to splurge

Political instability and corruption, unemployment, poverty and inequality and load shedding were named as the main structural impediments to improving consumer finances.

Paystack’s plan to dominate SA payments tech

Bronkowski outlines Paystack’s business model; strategy for growth in the SA market

CBK injects record-high Sh100 billion into banks

Reverse repos are a form of securitised borrowing by banks from the regulator, using their holdings of Treasury bills and bonds as collateral.

Dark clouds gather for punch-drunk retailers in South Africa

Looking over a longer period, retail trade sales decreased by 1.1% in the three months ended August 2023 compared with the three months ended August 2022.

Access Bank and Visa partner to facilitate B2B cross-border payments

The collaboration will enhance customer experience and develop commerce across various trading corridors

Bank deposit compensation scheme grows 16.7 percent to Sh179.8 billion

New disclosures by the Central Bank of Kenya (CBK) show the deposit insurance scheme run by the Kenya Deposit Insurance Corporation (KDIC) now has a coverage of Sh750 billion

Zenith, Access, FBN, others make list of top 100 banks in Africa

The report said the top Nigerian bank is Zenith Bank, ranked 12th among the 100 African banks.

TymeBank’s monster growth – 200,000 customers signing up every month

Jonker noted that TymeBank’s customer acquisition rate has continued to accelerate, with more than 200,000 customers signing up every month and a 70% account activity rate on a rolling 30-day basis.

Equity Bank bags 6 prizes at Euromoney Awards

These prestigious accolades reaffirm our unwavering commitment to transforming lives

First Bank, Lafarge assure customers of support

Martins, who was represented by Group Head of First Bank, Mobolade Ojeahere, said the forum would help the distributors identify the various challenges in the industry

Bank Zero launches commercial banking

Due to the higher transaction volumes, savings for larger businesses are exponential, the group said.

Retail Banking