Managers of Wealth Africa

COVID-19: FirstBank launches next-generation ATM, spearheads innovation in electronic banking in Nigeria

By using one’s phone, the transaction is carried out – in advance – through the Bank’s USSD or mobile banking option.

Standard Bank Nine-Month EPS Falls 39%

Standard Bank said it still hasn't made a decision on whether to pay a final dividend this year.

Banks’ Profits Rise to N677bn Despite COVID-19 Harsh Conditions

The results were compiled by THISDAY from their respective nine-month reports for the period, which the banks presented to the Nigerian Stock Exchange (NSE).

South African banks welcome global award on forex

The winners were selected from 122 countries and districts globally using criteria which included transaction volumes, market share, scope of global coverage, customer service, competitive pricing and innovative technologies.

Standard Bank points to ‘pockets of pressure’ in personal & business banking unit

Across most of the countries in which the group operates in sub-Saharan Africa, infection rates and lockdowns have moderated, and economic activity has recovered.

KCB grosses $10b in assets, eyes buyouts in DRC, Et

Last year, KCB Group acquired the struggling state-owned National Bank of Kenya (NBK) and took over the good assets of Imperial Bank which was put under receivership by the Central Bank of Kenya on October 13, 2015.

Women account for 30pc of Stanbic first-time mortgages

The CBK data shows that mortgages recorded the highest growth in non-performing loans last year from Sh27.2 billion in 2017, reflecting the struggle by investors to find buyers for their houses amid dwindling returns.

NCBA posts Sh2.5bn nine months net profit

NCBA net interest income during the review period was at Sh16.96 billion as net loans and advances to customers closed at Sh249.69 billion.

SA Reserve Bank warns consumers about using EFT online payments

Instant EFT payments use a method called ‘screen scraping’, which makes it possible for third parties to access bank account data and automate actions on behalf of a consumer using that consumer’s online banking access credentials.

Kenyan bank signs deal to acquire businesses in Rwanda, Tanzania

KCB Group CEO and MD Joshua Oigara said the deal will support the bank’s business growth in the post COVID-19 macroeconomic recovery.

One SA unit trust would have almost doubled your money in a year. Here are the best, worst funds

South Africa’s top retail unit trust over the past year was the IP Global Momentum Equity Fund.

Nigeria’s Big Five Banks Report 2.4% Profit Growth In Nine Months

Nigerian Minister for Finance, Budget and Planning, Zainab Ahmed on 21st May gave an indication of what is currently manifesting in her report to the National Economic Committee (NEC).

Absa launches new business account for startups

The account also allows entrepreneurs to generate a VAT report to assist them in filing returns to the South African Revenue Service.

SA banks to see limited fallout from debt downgrades

Bank ratings are capped at the level of the sovereign, which means the likes of Standard Bank Group Ltd. and FirstRand Ltd. will see their ratings fall.

Standard Bank Instant Money extends cash out points to 15,000 retail locations

This sought-after service is particularly in demand at month-end, during long weekends, school breaks and holiday periods.

Equity wins SME Bank of the Year at global finance awards

COVID-19 has challenged the normal operations for many SMEs in Kenya and across Africa

Zenith Bank Sets a New Record, Posts N508.979 Billion Gross Earnings in Nine months

Operating expenses expanded by 11 percent to N196.279 billion during the period under review, up from N176.941 billion filed in 2019.

Nigerian banks posted marginal profits during lockdown, despite slow economic growth

Others are Fidelity Bank at ₦9.1 billion, Union Bank ₦4.31 billion, Sterling Bank at ₦1.96 billion, Wema Bank at ₦1.15 billion and Unity Bank at ₦543 million.

South African Banks to See Limited Fallout from Debt Downgrades

Bank ratings are capped at the level of the sovereign, which means the likes of Standard Bank Group Ltd. and FirstRand Ltd. will see their ratings fall.

Capitec’s app now features QR code-based Scan To Pay

Another reason for the rollout of this new tool is the recent issues surrounding the interoperability of Masterpass, which has seen its agreements with local QR payment platforms falter.

Retail Banking