Managers of Wealth Africa

A waiting game for banks as job losses threaten unprecedented credit losses

Debt counselling company DebtBusters says people already under debt management have been asking their creditors for more debt restructuring.

Reserve Bank expected to cut interest rate to near 50-year low this week

The Reserve Bank has already joined the world's leading central banks in aggressively cutting interest rates and increasing bond purchases in an attempt to shore up liquidity.

Fidelity Bank PLC: Frail earnings outlook but valuations still attractive

Despite the substantial growth in loan book in 2019 (up 33% y/y) amidst frail macro conditions, we do not envisage a significant deterioration in Fidelity Bank’s asset quality.

FBNBank introduces Unity Link money transfer service

The Unity Link money transfer service allows customers to receive their remittances directly into their accounts with the bank.

First quarter real-time bank transfers rise fastest in six years

The value of cheques, cleared at the Automated Clearing House run by the Kenya Bankers Association, during January-March 2020 was flat, rising 0.27 percent to Sh647.05 billion.

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.

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