Managers of Wealth Africa

KCB to inject Sh3bn more into ailing National Bank

NBK results for the year ended December shows that the lender fell short of the required capital to back its lending and deposit-taking activities.

Stanbic Bank increases deposits, expands loan book to Ksh 161b

The bank’s loan book also saw an increase of 12% percent to KSh 161 billion from144.7 billion in the first quarter of 2019.

GTbank Approves N73.577bn Dividend For FY 2019

The board of directors, Guaranty Trust Bank Plc, has approved the sum of N73.577 billion to be paid as dividend at a rate of N2.50 per 50 Kobo ordinary share. At the bank’s thirtieth Annual General Meeting held at the Oriental Hotel, 3, Lekki Road

Moody’s downgrades banks on Treasury bond exposure

“All three banks’ local-currency deposit ratings of B2 are at the same rating level of the government, and a potential weakening in the government’s credit profile will lead to a weaker credit profile for the banks.”

Absa offers private schools loans for teachers’ salaries

President Uhuru Kenyatta in March directed all schools and higher education learning institutions to shut down to reduce the danger of the spread of the coronavirus.

Small businesses battling to survive pandemic tsunami, Nedbank survey shows

A new survey done on behalf of Nedbank showed more than half of small businesses have temporarily reduced their staff through paid or unpaid leave, and a further 26.8% have cut jobs

Banks are abusing stimulus funds

The President directed that Sh1 billion be appropriated from the Universal Health Coverage to recruit additional staff to beef up the current compliment that is fighting coronavirus.

We are focused on emerging opportunities, says Union Bank

He assured that the bank would continue to support its customers as well as government, other private entities and communities in the fight against COVID-19.

Banking transactions fall to an all time low

The South African economy shrank at the fastest rate on record in April while March also recorded a significant decline

WATCH: Standard Bank launches a digitised Escrow service in SA

This is especially true for transactions taking place in any online marketplace or social media platform, even more so given the change of consumer purchasing habits spurred by Covid-19.

World's Best Banks 2020: Africa

African banks delivered some of the world’s highest returns on equity last year, but current factors make a repeat performance unlikely.

Seven Nigerian Banks Record N209.16bn Profits

The bank’s total assets increased by 12 per cent from N6.35tn in December 2019

A Fintech & Innovations office for Bank of Ghana

The new office will oversee the drive in growth for financial technology

FNB assists 2300 small businesses with South African Future Trust funding

The assistance requested ranges from payment relief on existing loans, to merchant services device fee relief, as well as resources and guidance on navigating the Covid-19 crisis.

Wigwe: Recalibrating for the Future

Starting out as a management consultant, Wigwe, a celebrated banker and chartered accountant, is now renowned for supporting the establishment and growth of African businesses.

Reserve Bank bought R11.4bn worth of govt bonds during April

The bank's statement on assets and liabilities for April, released on Friday, shows that the bank now has over R20.65 billion worth of government bonds.

Access Bank Positions for Superior Customer Experience, Improved Efficiency

PwC noted that innovative financial institutions are already working to keep their distribution channels open

Kenya’s biggest banks restructure Sh176bn loans on coronavirus

“In April 2020, the seven largest banks restructured loans amounting to Sh176 billion.”

Banks have restructured Kshs 200B loans

CBK announced the measures freed more than 35 billion shillings to commercial banks to directly support borrowers facing repayment challenges.

Covid-19: Standard Chartered offers customers loan relief

The bank has also waived all its digital fees for clients amounting to Ksh5 Million monthly, a move that has since seen most clients prioritise mobile and digital banking for their banking needs.

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