Managers of Wealth Africa

Central Bank of Kenya okays acquisition of Mayfair Bank

The acquisition is expected to diversify and strengthen the resilience of the Kenyan banking sector.

Stanbic Bank Botswana launches initiative to facilitate trade with China

Manokore said the program also empowers importers with insight and control of the entire importing and logistics process.

Bank profits to rise on bad loans relief

EFG said banks will therefore spend less money (charged on profit) on providing for bad loans which will support their bottom line in a difficult year.

Banks cut deposit rates to 3-year low

This was followed by a total overhaul to the 2016 laws, handing power back to banks to price loans as opposed to limiting margins to a maximum of four percent above CBR.

Big changes to banking trends during lockdown

Nedbank said it is also committed to helping all clients who are in good standing on a case-by-case basis.

Standard Bank boss talks job cuts and branch closures in pursuit of digital transformation

The group closed 91 branches over the year, to 1,114 branches by its end – while the number of Standard Bank ATMs also declined by 254, to 8,970 across all operations.

Standard Bank Profit Drops as Virus Spurs More Loan Defaults

Policy makers have cut interest rates by 225 basis points this year to mitigate a recession, while Standard Bank and its peers agreed to lower fees and help customers caught in the virus fallout.

Electronic cards usage slows down to 13-month low in February

Interestingly, use of prepaid cards rose considerably by Sh7 billion

Lockdown | Demand for debt repayment relief is 'vast and growing', says Nedbank

"We could never have anticipated the massive extent of the response to this offer of financial help," said managing executive of Nedbank Retail and Business Banking, Ciko Thomas.

ABSA Bank Resumes Trading At NSE After One Week Suspension

Absa Kenya forex trading income grew 11 percent to Sh3.64 billion in 2019.

Absa back to forex trade after CBK penalty

Absa last week said it cancelled the suspect deals after CBK raised the alarm.

Banks continue understating credit risks despite huge rise

One such line item is statutory loan loss reserves, which, in simple terms, is some kind of a prudential warehouse.

First National Bank Ghana introduces #RealHelp to cushion customers impacted by COVID-19

Under the #RealHelp initiative, First National Bank Ghana Limited is offering at least a 2% interest rate cut on loans to all existing customers from 01 April 2020 for the tenor of all Ghana-cedi denominated loan facilities.

Absa restructures 4.25pc loans to ease Corona woes

The relief, which is being determined on a case-by-case basis, applies to personal loans, mortgages, asset finance, credit cards and business loans.

Capitec is adding over 200,000 clients a month as it continues to show strong growth

Headline earnings were up 19% to R6.28 billion.

Union Bank finally announces dividend of N0.25 after years of “dividend drought”

Shareholders who are yet to complete the e-dividend registration process should not expect any payment.

FirstBank CEO reassures customers of digital banking

The FirstBank chief further assured its customers that the bank would ensure that transactions continue, and that the lockdown would not slow it.

S.Africa's Capitec skips dividend, full-year profits rise 19%

The South African Reserve Bank asked lenders to skip dividends for 2020 earlier in April to preserve capital for lending.

Absa’s corporate bank CFO on addressing Africa’s coronavirus challenge

Matt Harcourt, who is also the CFO of Absa’s African regional operations, reveals in an interview how the South African banking giant is preparing for the virus

Here’s how Capitec’s coronavirus payment breaks work: CEO

In its annual results for the year ending 29 February 2020, Capitec said that the Covid-19 pandemic will have a massive impact on South Africa’s economy.

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