Managers of Wealth Africa

NDIC begins payment of N46bn to defunct Heritage Bank depositors

The NDIC began payment of the first tranche of liquidation dividends on April 25.

Bank fraud drops 26% in 2024

Remittance fraud also doubled from five reported cases to ten within the same period.

Nine Nigerian banks generate N14tn in revenue from customers’ interest in 2024

In contrast, the manufacturing sector, referred to as the real sector, laments increasing operational costs amounting to a combined figure of N2.5 trillion in 2024 alone.

Union Bank empowers young entrepreneurs

The competition also aims to identify and reward outstanding business ideas demonstrating viability, sustainability, and social impact.

Verve International Named in Global Payments Power 50

Bringing together a diverse yet interconnected community, the Payments Power 50 will serve as a reminder of the significant strides being made in the payments space.

Banks are lowering their costs due to constrained consumer appetite for more credit

The average NIM declined by 6.25 basis points in 2024, in stark contrast to the 28 basis point increase the previous year.

Absa: Retail loans, investment banking boost profit

The Citywire AA-rated African bank is backed by a total of seven of the world’s top fund managers.

Big banks slash expectations for South Africa

The USA is one of South Africa’s largest trading partners, and the new tariffs are set to impact the economy severely.

Seven Nigerian banks to benefit from sovereign upgrade- Fitch Ratings

The ratings for these banks, except for Bank of Industry (BOI), are primarily driven by their standalone creditworthiness, expressed through Viability Ratings (VRs).

Standard Bank fraud alert for South Africa

Consumers also rely on online platforms with targeted online ads when shopping.

W’Bank lends Nigeria $1.08bn for education, nutrition, economic boost

The World Bank has approved three operations in Nigeria, totalling $1.08bn in concessional financing, to enhance education quality, build household and community resilience, and improve nutrition for underserved groups.

Sterling Bank Leads Protest for Removal of Bank Transfer Charges

The announcement, made on April 1st, initially sparked widespread arguments, with many assuming it was a marketing prank tied to April Fools’ Day.

Amid Excess Liquidity, Banks’ Borrowing from CBN Drops by 34% to N16.49trn

According to CBN, Nigeria’s Money Supply (M2) closed February 2025 at N110.3 trillion

Five banks rake in N3.3tn profit despite harsh economy

UBA’s profit after tax climbed 26.14 per cent to N766.6bn, up from N607.7bn in 2023.

BOI Designates FIC Business Development Service Provider

The Board of the Bank recently approved a mid-term 2025-2027 corporate strategy plan to drive its operations.

Wema Bank Empowers 131 Women with N11m

In celebration of Women’s Month, Wema Bank dedicated the March draw to empowering women, with all 131 winners being female.

UBA Charts Path for 2025, to Focus on Innovation, Digital Transformation, Sustainability

On the back of its full-year financial performance for the year 2024, which was released to stakeholders on Tuesday

Zenith Bank Maintains Track Record as PBT Hits N1.3 Trillion, Proposes N4.00 Final Dividend

This growth was driven by a 138% increase in interest income, supported by investment in high-yield government securities, and growth in the Bank’s loan book.

African bank brands punch above their weights

China Construction Bank, Agricultural Bank of China, and Bank of China complete the top four, emphasising China’s financial strength.

UBA Increases Dividend Payment as Profit Grows by 26%

UBA’s net interest income rose sharply to N1.530 trillion, up by 116% year on year from N707.540 billion in the financial year 2023.

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