Managers of Wealth Africa

Standard Bank eyes Kenya, Ethiopia for future growth

‘The case for East Africa is clear and simple: it is the fastest growing sub-region’ – Tshabalala.

South Africa’s Standard Bank posts 4% rise in half-year profit

Net interest income (NII) – the amount banks earn from loans minus what they pay on deposits- in its banking business grew by 7%.

Mozambique: H1 profits of five largest banks up 9.5%

Stanbic Africa is a wholly-owned entity of the Standard Bank Group, an investment bank incorporated in South Africa.

Good news for retail in South Africa

Sales of hardware, paint and glass fell -1.1% y/y. Specialised stores selling food beverages and tobacco also reported a decline in sales of -1.5% y/y.

Ecobank grows profit to N311bn

This was disclosed in Ecobank Group’s performance report for the first six months of 2024.

17 jobs in South Africa where salaries have more than doubled

The story of South Africa’s anaemic salary growth is also apparent in official data.

New Nedbank CEO Quinn expects better SA economy environment

And two repo rate cuts this year, with inflation set to continue to decline.

Visa, Pick n Pay partner on contactless payment

It added that the partnership was poised to revolutionise the shopping experience in Lagos, offering a fast and convenient way to pay for purchases.

E-payment transactions surge: UBA ranked most visited banking website in Nigeria

Nigeria’s e-payment transactions surged to N234 trillion in the first quarter of 2024

South African banks' earnings in spotlight ahead of first rate cuts

Economists polled by Reuters predict a 25-basis-point cut in September followed by another in November.

Nedbank customers take a hit

Nedbank produced a strong financial performance, with headline earnings increasing by 8% year-on-year to R7.9 billion.

First Bank sacks over 100 employees after ₦40bn fraud, freezes their personal accounts

Those employees were accused of laxity in carrying out their duties and were told they should have spotted the fraud earlier.

African Union backs Afreximbank over preferred creditor status

Set up at the beginning of the year, AAMFI brings together the Africa Finance Corporation (AFC), the African Export-Import Bank

Five banks recorded N67bn FX gains in H1

The financial institutions reviewed include FCMB Group, Ecobank Transnational Incorporated, Wema Bank, Sterling Financial Holding Company and non-interest bank, Jaiz Bank.

MPR Hike: Six Banks’ Profits Up 132.56% To N979.16bn In H1’24

Also, ETI’s PBT jumped by 195.96 per cent to N443.51 billion in the first half of the year compared to N150.31billion in the corresponding period of last year.

Ecobank grows half year PBT by 195% to N443.5bn

Operating profit before impairment charges went up by 12percent to $461.5 million (up 215 percent to N631.5 billion).

SA payments ring maker VezoPay partners with Nedbank

VezoPay, the company that has developed smart rings for tap-and-go payments, has "onboarded" its first banking partner.

Absa taking strain, just like South African consumers

Even the Rolls-Royce clients in the relationship banking unit have been under pressure

Nigerian Banks forex revaluation gains estimated at N3.3 trillion, GTCO, Zenith Bank, Access Corp top list

The data is collated from the 2023 full year and first quarter 2024 financial statements released by the banks.

FNBB named the Best Bank in Botswana

This has ensured that the Bank remains at the forefront of the banking industry

Retail Banking