Managers of Wealth Africa

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.

UBA crowned African Champion of the Year 2023

Managing Director of Jeune Media Group, Amir Ben Yahmed, emphasised UBA’s commitment towards fostering economic growth, financial inclusion, and technological advancement

Co-op Bank Q3 profit rises to Sh18 billion

Rising interest rates are expected to lift lending margins for banks

Africa needs strong domestic corporate banks to drive development

Essentially, these banks ensure the ease of doing business in Africa by making financial transactions easier and enabling businesses to adapt to rapid changes

Fund managers fight for assets in tough race for lucrative fees

According to Zimele CEO Isaac Njuguna, fund managers have been angling to take advantage of the opportunity represented by millions of retail investors who are looking to save and invest through active intermediaries.

Again, TAJBank wins BusinessDay’s Islamic Bank of The Year’ award

The award recognises TAJBank’s commitment to world-class services, impressive financial performance, and consistent leadership in the nation’s financial inclusion drive over the last three years.

Absa Life loses Sh65m MPs cover review plea

Absa Life Assurance had argued that the winning bidder failed to include in its workings the stamp duty and policyholders’ compensation fund levy and thus ought to have been disqualified.

Interest rate cuts are risky for South Africa: economist

When global inflation skyrocketed in 2021, several Latin American central banks were the first to raise interest rates before the US Fed began tightening.

Zenith Bank’s Q3 profit rises to N505bn

Profit after tax also grew by 149 percent from N174.3bn to N434.2bn within the same period.

Afreximbank’s Rene Awambeng Named in Powerlist Black Excellence Awards

Oramah, also emphasised that the achievements represented the beginning of an even greater journey ahead.

FBN Holdings’ nine-month profit jumps 159% to N236bn

At the same time, our credit risk portfolio remains healthy, with an NPL ratio of 4.6 percent and a coverage of 85.4 percent.

South African consumers are struggling – but still find money to splurge

Political instability and corruption, unemployment, poverty and inequality and load shedding were named as the main structural impediments to improving consumer finances.

Paystack’s plan to dominate SA payments tech

Bronkowski outlines Paystack’s business model; strategy for growth in the SA market

CBK injects record-high Sh100 billion into banks

Reverse repos are a form of securitised borrowing by banks from the regulator, using their holdings of Treasury bills and bonds as collateral.

Dark clouds gather for punch-drunk retailers in South Africa

Looking over a longer period, retail trade sales decreased by 1.1% in the three months ended August 2023 compared with the three months ended August 2022.

Access Bank and Visa partner to facilitate B2B cross-border payments

The collaboration will enhance customer experience and develop commerce across various trading corridors

Retail Banking