Managers of Wealth Africa

ABSA Issues A Profit Warning For The 2020 Financial Year

For the financial year 2019, Absa Bank Kenya reported a normalized Sh8.5 billion profit after tax on the back of higher operating income.

Rwanda Leads Region With Profits for Kenyan Banks

The performance of Tanzania subsidiaries was attributed to low business due to competition in a market dominated by established local players.

Bank consolidations, slow profits and high loan defaults

Co-operative Bank on other hand reported a marginal 0.2 per cent reduction in profit after tax to Sh3.58 billion down from the Sh3.59 billion posted the previous year.

Access Bank: Breakout growth in Q3 brightens outlook

A breakout growth in earnings for Access Bank in the third quarter powered a 55 percent advance in prot quarter-on-quarter — the bank’s best quarterly record by the end of September 2020

TymeBank’s top 12 tips for protecting your money from criminals

Nefarious activity targeting bank accounts seems to increase over the festive season.

Uganda: Equity Makes History, Hits Trillion-Shilling Balance Sheet

The Group has banking subsidiaries in Kenya, Rwanda, Uganda, South Sudan, Tanzania, and DRC and a representative office in Ethiopia.

CBC charting an integrated digital common payment policy for MSMEs within COMESA

The outcomes of the meeting will underpin the development of a business model and infrastructure for a low-cost retail digital payment scheme for MSMEs within COMESA region.

Equity assets hit Sh1 trillion mark

“Equity banking subsidiaries will now be in a position to leverage the Group’s strength to extend large corporate loans across all the countries where Equity operates.”

Equity Group crosses Sh1 trillion mark in value

Equity will leverage the corporate banking history and experience of 112 years by BCDC to strengthen its corporate banking value proposition.

Ecobank Group taps into Africa’s leading Fintechs to launch an eCommerce solution for SME businesses

It also follows months of engagement with MSME customers since the onset of the Covid-19 pandemic where one of the biggest challenges they raised was inability to access markets and sell their products.

Microfin Rural Bank targets aggressive digitisation for growth

The bank is committed to leveraging technology to promote operational efficiency and to enhance financial inclusion.

The top 5 Nigerian startup sector developments of 2020

Launched in January 2016 by Shola Akinlade and Ezra Olubi, Paystack is a payments company that helps businesses in Africa get paid by anyone, anywhere in the world.

Kenya’s Mobile-Banking Pioneer to Expand into Money Management

Company will partner with fund managers, investment banks

Consumers, retailers face a tough 2021 as personal debt spirals

According to the reported data, the serious delinquency rate for clothing accounts was 34.3%; 32.8% for non-bank personal loans

Absa named best retail bank in Africa

In addition, ARO demonstrated a swift and strategic response to the COVID-19 pandemic, not only assisting customers with payment relief initiatives but also contributing extensively to local social relief efforts.

Access Bank named Nigeria’s safest bank

This recognition serves as an encouragement for us to build on our successes and invest even more in digitally-led measures that will position us as the World’s Most Respected African bank.

Banks’ ten-month profit falls Sh41bn on Covid shocks

The drop in profitability thins the chances of dividend payouts for shareholders next year.

Banks are pivotal to success of AfCFTA

According to Mr Akinwuntan, “Nigeria banks have strong capital and their operating synergies have been tremendous for the past five years particularly in the digital banking space."

Absa named best retail bank in Africa

The accolade also encompassed Absa’s role in driving financial inclusion across the continent.

Africa’s banks reacted well to Covid-19 — long may it continue

A fast-tracked move to digitalisation, and understanding that banks and their customers' behaviours are irrevisibly changed, means there is no time for banking to drop the ball now

Retail Banking