Managers of Wealth Africa

FCMB to raise N150bn in additional capital

This came weeks after the Central Bank of Nigeria directed Deposit Money Banks to recapitalise with banks with international licences expected to raise theirs to N500bn.

Wema Bank @ 79: A legacy of innovation, digital excellence, inclusive solutions

Over the last 79 years, Wema Bank has successfully navigated the dynamic challenges and ever-evolving landscapes of the banking sector, growing to become a beacon of resilience and adaptability.

Rwanda records 39pc rise in new bank borrowers

The banking regulator also notes that the number of depositors in banks increased by 40 percent

UBA increases its stake in Kenya and Uganda units with eye on EAC market

The Nigerian billionaire Tony Elumelu-owned lender acquired 13 percent

UBA, Fidelity, FBNH, Seven Other Banks May Lose N1.67tn As Auditors Raise Concern Over Credit Quality

ECLs are the expected credit losses that result from all possible default events over the expected life of the financial instrument.

How much you would have if you invested R1,000 in Capitec, FirstRand, Nedbank, and more in January

The two biggest JSE-listed banks—FirstRand and Standard Bank—saw their share prices drop by double-digit percentages between 1 January and 24 April 2024.

BCEAO confronts tough choices on commercial bank refinancing amid liquidity challenges

In a report released on April 17, 2024, the International Monetary Fund (IMF) highlighted these risks within the sub-region.

Standard Bank Ranked As Africa’s Most Valuable Banking Brand For A Third Consecutive Year

The world’s top 500 most valuable and strongest banking brands are included in the annual Brand Finance Banking 500 ranking.

New bank in South Africa gets the green light

Old Mutual noted it would now formally transition from ‘bank build mode’ and enter into a strict and rigorous industry testing phase with selected bank partners.

Wema Bank Launches Anti-Fraud Campaign to Protect Customers

No fraudster is safe with Wema Bank

Fidelity Bank Reports N124.26bn Profit, Declares N0.60 Final Dividend

Our performance in 2023 is an attestation of our capacity to deliver superior returns to shareholders despite the difficulties in our operating environment.

Technology behind SA’s leading banking apps

Online banking customers are increasingly favouring biometric identification processes in their digital banking, as opposed to cumbersome, lengthy login experiences.

The biggest type of banking fraud in South Africa

South Africa was the only country in the study to see money or gift card fraud as the number one type of fraud.

Zenith Bank’s after-tax profit triples to N676.9bn

The bank said that notwithstanding the 32 percent growth in operating expenses in 2023, its cost-to-income ratio improved significantly

Mastercard and Equity Bank join forces to enhance cross border money transfers in Kenya

This initiative is poised to have a profound impact on various stakeholders

FirstBank celebrates 130 years of resilience and excellence in banking services

Under the visionary leadership of the Banking Group MD/CEO, Adesola Adeduntan, FirstBank has achieved remarkable milestones and solidified its position as a trailblazer in the financial sector.

Access, GTB, Zenith, 7 Other Leading Banks Spend N3.2 Trillion to Operate in Nigeria

The costs include money spent on rent, marketing, staff salaries, rent, insurance, equipment and others

UBA’s gross earnings rise 143%, profit hits N757.7bn

Similarly profit after tax (PAT) grew by 257 percent to N608 billion from N170 billion in 2022.

Standard Bank PMI Index: “Business Activity in Mozambique Returns to Negative Ground in March”

“The decline in new business growth meant that companies left their production volumes unchanged, and registered a lower degree of confidence regarding the forecast for next year,” it adds.

Absa Bank rewards Assist Card campaign winners

The hallmark campaign is designed to encourage and reward the use of Absa’s contactless debit and credit cards.

Retail Banking