Managers of Wealth Africa

Co-Op Bank Kenya Brings McKinsey On Board To Steer Growth Plan

Financial services firm Co-operative Bank of Kenya has hired McKinsey & Company to guide it on its next phase of growth.

Heritage Bank Deposits Initial 20% For Enterprise Acquisition

The 20 percent fee was not announced but is believed to be the region of N11 billion ($67 million), given the total fee is estimated to be N59 billion ($361 million).

Enterprise Bank: AMCON, Heritage Bank to Sign Share Purchase Agreement Today

The balance of 80 per cent or N44.8 billion would be paid on October 13.

Qatar National Bank lifts Ecobank stake in $283 mln deal

Qatar National Bank has acquired a further 11 percent stake in Ecobank Transnational Incorporated in a deal worth $283 million, making it the pan-African lender's largest shareholder.

Merchant Bank wasn’t a good deal - FirstRand boss

The Board Chairman of FirstRand Bank of South-Africa, Laurie Dippenaar, has said that the business case to acquire Merchant Bank Ghana last year was not a good one, as the assessment of returns on the transaction fell short of the bank’s expectation

AMCON Begins Gradual Exit from Intervened Banks

The frenetic move for new investors, according to sources, will not only free the affected banks from AMCON, but will also generate working capital for banks in view of the emerging financial requirements of industry players.

New ‘African Bank’ to list by February

We are there to support [African Bank] and make sure there is a resolution process which is well managed

GCB Unveils New Brand Identity

The Ghana Commercial Bank Limited GCB has launch a new brand identity of the bank which marks beginning of the next generation GCB with a new image of a dynamic force in the banking industry in Ghana.

Nigeria Offers Best Opportunity for African Retail, RMB Says

Nigeria, Egypt and Ethiopia offer some of the best opportunities for retailers looking to invest in Africa

MetropolitanRepublic Cape Town to close

MetropolitanRepublic has issued a statement announcing the closure of its Cape Town office.

Nedbank ‘Committed’ to Ecobank Link After QNB Buys 12.5%

Nedbank Group Ltd., the South African lender controlled by Old Mutual Plc, said it remains committed to its partnership with Ecobank Transnational Inc., even after the Togo-based firm sold a stake to a Qatari bank.

Nigerian Banks and Rising Offshore Debts

As rising interest rates and tight liquidity conditions push Nigerian banks to the international debt market, Obinna Chima examines the risk the trend portends for the system

Diamond Bank Opens Retail Banking Branch

Diamond Bank Plc has opened a flagship centre to cater for the needs of its retail customers.

FirstRand Targets $924 Million for Expansion in Africa

FirstRand Ltd., Africa’s biggest bank by market value, is setting aside 10 billion rand for expansion across the continent as profit increases from regions outside its home market of South Africa.

Ecobanks Concludes $20m Facility Deal With Brazilian Devt Bank

Ecobank Nigeria has sealed a deal for a $20 million credit line from the Brazilian Development Bank.

Diners Club expands further into Africa

Diners Club is heading into the fast-growing economies of Nigeria, Mozambique and Angola,

Zimbabwe: Banking Sector Restructure Leads To Basel II Adoption

The first quarter of 2015 has been set as the deadline for the switch to Basel II. Dr John Mangudya, RBZ Governor, indicated this in his recent maiden policy statement.

Ghana: More Alliances Forecast in Ghana Banking Sector

Acheampong added the mergers would help banks to grow, integrate and expand their business.

Barclays angles for slice of cross-border transactions with border branch

Barclays Bank of Kenya has revamped its Busia branch into an ultra-modern facility, in a move aimed at supporting seamless cross-border transactions.

Qatar National Bank buys 12.5 pct Ecobank stake for $200 mln

This deal is much much bigger than a Qatar bank taking a stake in Ecobank