Managers of Wealth Africa

Domestic borrowing jumps by 134%, rises to N52tn

This is based on new revelations by the Director-General of the Debt Management Office, Patience Oniha.

World Bank lends $250m for Kenya’s public finance reforms

The funding is expected to serve an estimated 485 ministries, departments, and agencies, 240,000 registered firms, and 18 million citizens who use government e-services.

Treasury’s emergency loans at CBK hits record Sh91 bn

The National Treasury has been running up its overdraft balance at the reserve bank in recent months with the facility representing a last-resort avenue to fund the budget deficit.

Consumers start feeling loans pain as banks raise rates

The move signalled banks to increase their lending rates, with several institutions preferring to re-price the cost of new loans rather than existing credit facilities.

UBA secures $175m AfDB loan

The facility will be complemented with technical assistance from the Affirmative Action for Women in Africa initiative to boost access to finance and technical assistance to women SMEs.

Wema Bank MD Calls for Innovative Finances to Address MSMEs Challenges

Co-Founder, Africa Sustainable Trade, Dr. AMA Onyerinma, revealed that the need to tackle the issues of gender inequality, noting that there is a challenge for women in entrepreneur.

ZojaPay App Unveiled to Streamline Payment Processes

ZojaPay epitomizes the digitalization of payments, transcending boundaries to facilitate transactions seamlessly and securely, regardless of location.

Not a merry Christmas for retailers in South Africa

Respondents in the non-durable goods retail sector (e.g., food, beverages, groceries, cosmetics and pharmaceuticals) said that sales volumes were significantly lower compared to the 2022 holiday season.

Recurring payments take Africa by storm

The recurring payments product, among others, is adapted to fit the financial requirements of not only each country, but also companies operating in each specific industry

Banks profit dips 4.9pc in rare decline for industry

The sector’s decline in profit marks a rarity for the sector that has generally been growing profits.

UBA wins Big at The Bankers Awards, emerges African Bank of the Year, Best Bank in 8 of its Subsidiaries.

UBA is honoured to be named the Bank of the Year in these eight countries

Fidelity Bank Partners LCCI to Address Business Challenges in Nigeria

The event which, held recently at the LCCI office in Lagos, featured a panel session comprising several top functionaries across the Nigerian economy.

LivingTrust Mortgage Bank wins MSMEs funding award

LivingTrust Managing Director, Dr Adekunle Adewole, thanked DBN for recognising its unique efforts in supporting the growth and success of otherwise disadvantaged MSMEs.

South Africans are scared of debt – just not credit cards

Home loans eased to 4.7% y/y – the lowest level since March 2021.

Standard Bank flags consumer pain – with a slight improvement

This was due to continued strong net interest income and non-interest revenue growth.

Co-op Bank adds 457 jobs in a year on new branches

The rise in Co-op Bank’s number of employees has come amid its continued opening of new branches in the country as it eyes more business, especially in the counties.

Absa profit jumps 15 percent on lending

The bank’s transformation and diversification agenda has resulted in the resilience of operations

African Bank’s customer base jumps to almost 4 million

Group returns to profitability after posting an interim loss earlier this year.

StanChart in Sh2.27bn dividend, profit up

StanChart Bank Kenya chief executive Kariuki Ngari said the growth in net interest income was supported by the growth in lending, increased short term investments in money markets and improved margins.

African bank hits 4 million customers

Over the financial year, the group said that it saw a successful acquisition and integration of Grindrod Bank and Ubank assets, liabilities and operations.

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