Managers of Wealth Africa

Africa is leapfrogging into the future of retail

Retailers and central banks in various countries are working toward developing and facilitating digital ecosystems

Ecobank’s first quarter results promise a record performance for 2024

The bank’s 1st quarter results this year show that this potential is being almost fully realized.

Umeoji projects over N1tn Zenith Bank profit in 2024

She also revealed that the bank was planning to expand its operations to France and other Francophone African countries, set up a fintech subsidiary and raise about N230bn in the ongoing recapitalisation.

Access Bank partners Mastercard to expand cross border payments in Africa

The programme intends to achieve its objectives within three years

South African bank up for sale – as 4 more get ready to launch

The “strategic restructuring” will impact Bidvest Financial Services division, which provides banking and related products and services to South African corporates, businesses and consumers.

Standard Bank bats for SMMEs in African development

Africa’s biggest lender by assets launched a charm offensive during its inaugural Africa Unlocked Business and Commercial Banking Conference in Cape Town this week as it seeks to generate half of its total revenue from the rest of Africa.

TymeBank targeting South Africa’s middle class

Founded five years ago, TymeBank initially only catered to South Africa’s lower-income segments; however, it now plans to appeal to the country’s middle class.

Afreximbank plans $3.2bln boost for Egyptian banks, companies

Over the past three years, Afreximbank has provided approximately $12.8 billion in funding to the Egyptian market

The one big advantage South Africa has over Switzerland: Capitec CEO

2024 has also started poorly, with GDP decreasing by 0.1% in Q1 2024, down from a slight growth of 0.3% in the prior quarter.

First Bank, others join Zone decentralised payment network

Additionally, Zone recently launched its decentralised Point-of-Sale Payment gateway, ZonePOS, further cementing its position as Africa’s leading payment infrastructure provider.

Standard Bank continues dominance of South African banking

Weaker rand and sluggish domestic economy impact local lenders’ rankings

Wema Bank Reiterates Commitment to Empowering Cooperative Societies Oluchi Chibuzor

The achievement of a sustainable and ideal future for cooperative societies not only requires that we adapt to the increasingly digital world we exist in, but also drive more inclusivity for the youth to also key in.

UBA’s GMD appointed Chairman, CIBN Body of Banks’ CEOs

In his role as Chairman, Alawuba will be at the forefront of fostering collaboration and driving strategic initiatives among the top executives of banks in Nigeria.

Poor Compensation Leaves Ex-Ecobank Employees in Debt After Sudden Sack

Some of the workers told FIJ that what Ecobank gave them as severance pay in February was significantly less than expected, considering their long years of service to the bank.

Banks not discontinuing foreign currency accounts – GAB assures

This follows information Citi Business News gathered last week that some of the banks are asking clients with such accounts to hold their foreign currencies in e-wallets or current accounts.

Tanzania keeps policy rate unchanged at 6pc to sustain growth

The BoT joins Kenya, Uganda and Rwandan central banks that are cautiously loosening their monetary policy positions

FirstBank wins two awards

The theme for this year’s event was “Thriving in a challenging world; Embracing Resilience and Agility in HESS.”

Proshare names Access Holdings leader of tier-one banks in Nigeria

Proshare’s latest report places Access Holdings and other prominent institutions such as Zenith Bank, FBNH, Ecobank, UBA, and GTCO at the forefront.

Analysts warn of asset liability risks as Nigerian banks scale up for $1 trillion economy

The report further stated that raising Nigerian banks’ equity base is no guarantee for economic growth and development.

Major South African bank up for sale

This division includes Bidvest Bank and FinGlobal, as well as short- and long-term insurance products through Bidvest Insurance, Bidvest Life and Compendium.

Retail Banking