Managers of Wealth Africa

Universal banks in Ghana records 37 percent profit, according to Bank of Ghana report

Bank of Ghana report has shown that banking industry recorded a 37.7% increase in profit, translating into GH¢3.31 billion in 2019.

Access Bank to establish more African subsidiaries, Herbert Wigwe eyes Francophone region

By 2023, Access Bank will have consolidated its position as Africa’s gateway to the world with about 100 million customers in Nigeria and additional 20 million customers across our African subsidiaries.”

S.Africa's Absa reports 3% rise in full-year profit

"We still believe that a RoE target of 18% to 20% is appropriate for our group, although we do not envisage achieving it until 2022 at the earliest, which is heavily dependent on the state of SA's economy," the lender said in a statement.

FNB takes R270 million knock on fees

But warns of a ‘material slowdown’ already underway in South Africa.

New CEO of Absa to review strategy as S.African economy hurts lenders

But in his first results presentation to analysts since taking over, Mminele said: “It has been almost two years since we began implementing this strategy and we are now in a position to evaluate whether we are seeing the desired outcomes.”

Cooperative Bank plans to acquire Jamii Bora

CBK approved the transaction on December 24, 2019 under Section 13 (4) of the Banking Act. The National Treasury Cabinet Secretary, National Treasury also approved acquisition under Section 9 of the Banking Act.

How Kenya can unlock the huge SMEs’ potential

The prominent of these challenges are the lack of credit access and the inefficacy of agencies mandated to unlock the potential of SMEs.

Kenya can borrow leaf from India’s tech startups wave

The African diaspora are estimated to remit back home about Sh160 trillion ($160 billion) annually.

S.Africa's Nedbank reports almost 7% fall in full-year profits

The lender’s headline earnings per share - the main profit measure in South Africa - stood at 2,605 cents ($1.69), versus 2,793 cents a year earlier.

Access Bank makes top 500 global banking brands

Further analysis of the results showed the Bank’s asset base remained strong and diversified, growing by 33% to N6.6 trillion as at September 2019, up from N4.95 trillion as of December 31, 2018.

Access Bank’s Unstoppable Expansion Drive

Many Nigerian banks are looking to surge into both developing and developed markets, following the trend of customer migration into new and emerging markets.

UBA Records 13% Earnings Growth and Delivers N111billion Profit

Notwithstanding the challenging business environment in Nigeria, the Bank’s Profit Before Tax was impressive at N111.3 billion

Standard Chartered repports Full-Year and Fourth Quarter 2019 Results

All figures are presented on an underlying basis and comparisons are made to the full-year 2018 on a reported currency basis, unless otherwise stated

SA bankers: We don't see the logic behind a commercial state bank

Deputy Minister of Finance, Dr David Masondo, told journalists at a pre-Budget briefing that the state was aiming to consolidate the proliferation of "quasi" state banks, such as Postbank, into a single bank, which would be a deposit-taking inst

Zenith Bank Grows Profit To N200bn In 2019, First Bank To Cross N200bn

Zenith bank attributed the improved performance to 29 percent surged in noninterest income from N179.9 billion in 2018 to N231.1 billion in 2019.

Rwanda receives clean bill of health as an investment destination

Uganda and Tanzania come in 12th and 14th respectively. So what does one read in the RMB rankings as far as the EAC is concerned?

Banks’ profit up 5pc in 11 months to November

With the removal of rate cap, it is expected that bank earnings will go up, helped by increased interest income from customer loans.

Barclays Bank completes rebranding to Absa Ghana today

This was after Barclays PLC decided to reduce its holding in Barclays Africa.

GhanaFirst National Bank Ghana: A fresh breath of banking innovation, setting new standards and delighting customers«

First National Bank Ghana Limited, with South Africa’s FirstRand Group as its parent company, did not come to Ghana with the cacophonous bells and whistles which usually accompany many a new entrant.

Private sector activity down in January

“Poor weather conditions also curbed output at many businesses.”

Retail Banking