Managers of Wealth Africa

Downgrade warning for one of South Africa’s major banks

The Bidvest Bank book, which mainly consists of leased assets, loans and advances, totalled R6 billion in December, funded by deposits of R8 billion.

Zenith Bank Sets Stage for Strong Finish after Q3 Earnings Beat

The bank’s exceptional results are not just a reflection of its operational efficiency, but also its strategic positioning in key market segments.

EMEA Finance African Banking Awards: Stanbic Bank named Overall Best Bank in Ghana

Speaking on the achievement, Kwamina Asomaning, Chief Executive of Stanbic Bank Ghana

Citibank Nigeria Celebrates 40 Years in Nigeria

The bank hosted a gala recently as part of activities to commemorate its 40-year operating presence.

Jaiz Bank projects N26.3bn gross earnings in Q1

This would result in a net revenue from funds of N17.8bn.

Commercial Bank of Ethiopia’s Total Assets Reach Nearly 2 Trillion Birr

According to the president, the total assets of the bank have now reached 1.9 trillion Birr and its total savings have also reached 1.4 trillion Birr.

Nigeria’s biggest bank accesses $228m in rights offer

The fresh capital inflow has received regulatory approvals from both the Central Bank of Nigeria and the Securities Exchange Commission.

Capitec hit by R56m Sarb financial penalty

Due to its non-compliance with certain provisions of the Financial Intelligence Centre Act (Fica).

Nedbank named bank of the year by The Banker

This prestigious accolade reflects the bank’s commitment to operational excellence, innovation, and sustainability during a year marked by economic challenges.

GCB Bank Partners with Visa to Launch Premium Cards, Elevating Banking Experience in Ghana

This collaboration aims to meet the evolving needs of Ghana’s professionals, business owners, and frequent travellers, offering an unparalleled banking experience.

Kenyans ditch bank cards in favour of cash and mobile payments

In contrast, mobile money transactions have surged, hitting an all-time high of Sh7.2 trillion in the same period, up from Sh6.45 trillion in 2023.

Ethiopia opens banking sector to foreign investment

Since taking power in 2018, Prime Minister Abiy Ahmed has been a vocal supporter of opening up the heavily state-controlled economy to competition and foreign investment

Discovery Bank scam warning for South Africa

In a message to customers, Discovery Bank said that shopping for cheap online specials can be costly.

2024 ending with a whimper: Nedbank

Nedbank now expects SA GDP growth of 0.5% in 2024.

Standard Bank: Leading the way for wealthy buyers in innovative real estate ventures

Another growing trend is converting properties into multi-tenanted dwellings for rental income

Standard Bank warns of financial strain after festive early payday splurge

The 49-day gap between early December and January’s payday leaves consumers struggling

TymeBank now making ‘sustainable’ profits

This made it the first digital bank to break even in South Africa and on the continent.

Roosevelt Ogbonna wins AFIS African Banker of the Year

His appointment followed the restructuring of the bank into a holding company structure, with Access Holdings as the parent entity.

Great news for retailers in South Africa

“Their confidence rose to its highest level since Q3 2007, driven by significant improvements in their sales volume and profitability indices,” said the BER.

Standard Bank’s Amish Shunker and Justin Milo on South Africa’s role as an intra-African trade leader

He has worked at the bank for over 15 years, holding several key leadership roles during this time.

Retail Banking