Managers of Wealth Africa

African Bank battles as debtors fail to pay

SA's unsecured lender African Bank warned of a sharp fall in first-half profits on Wednesday, hit by rising bad loans as debt-laden consumers struggle to meet their payments.

Ecobank Ranked One of the Top African Banking Brands

Ecobank Transnational Incorporated has been declared the most valuable brand in Africa – outside South Africa

FirstRand considers expansion into Kenya

The financial services provider hopes to restart its expansion plans into the African continent and says this time Kenya could be the place to begin.

FirstRand booked $400 mln Ghana business in 2013, rethinks Kenya

South African lender FirstRand invested $400 million in Ghana last year, and is re-evaluating the business case for opening operations in Kenya, its chief executive said.

Nigeria's Guaranty Bank steps up battle for Kenyan customers

Nigeria's Guaranty Trust Bank will open its outlets over the weekend and even deliver cash at home for Kenyan depositors

Barclays Africa expects full-year profits to rise

Barclays Plc’s South African unit said full-year earnings will probably increase as much as 20 percent after the group expanded into the rest of the continent.

African Bank in Ellerines Partnership Talks to Stem Losses

African Bank Investments Ltd., South Africa’s largest provider of unsecured loans, said it’s in partnership talks for its Ellerine Holdings Ltd. furniture unit as part of a three-year turnaround plan for the bank.

Zimbabwe adds four Asian currencies

Trade remains anchored in US dollar and the South African rand

Ghana: Shortage of dollars hits commercial banks

The situation has also affected most businesses that need the dollars for their transaction.

Diamond Bank partners African Guarantee Fund to support MSMEs

Diamond Bank plc has entered into an agreement with the African Guarantee Fund to support the bank’s lending to Micro Small and Medium Scale Enterprises in West Africa to the tune of $25 million.

Fina Bank Uganda sold to Nigerian bank group

This means that GT Bank will have a good percentage of the US$338 million Fina Bank’s assets and operations in Kenya, Rwanda and Uganda, but it is also expected that GT bank will not change with the current management of Fina.

Standard Chartered opens corporate bank in Angola

Standard Chartered Bank Angola, which was awarded a licence to operate in 2013 as a corporate and retail bank in Angola

Swiss-based bank holding company to create subsidiary in Benin

It will consolidate its presence on the West African market.

Kenya's KCB bank will continue operations in conflict-hit South Sudan

The scope for banks to expand into South Sudan could be huge as there is no banking at all in most rural areas of the country of 11 million people.

Angolan banks work to reduce national oil dependency

The major financial players of Angola’s oil-led economy are attempting to diversify the nation’s business and benefit the community, an effort best characterised by Banco Angolano de Investimentos

Nedbank To Ride On Ecobank Alliance For East Africa Expansion

Johannesburg-based lender, Nedbank Group will leverage on a 2008 alliance with pan-African banking group, Ecobank Transnational Inc. to explore investment opportunities in East Africa’s banking sector.

Six Banks Maintain Market Dominance

The market share of the Nigerian banking industry remained largely dominated by six banks as at the end of June 2013, a report has revealed.

Authority to investigate banks over high cost of credit

Competition Authority of Kenya will before the end of this month hire a consultant to conduct a market inquiry into the banking sector.

Banks laud Third party over the counter threshold

She advised the business community to develop the culture of transacting business with cheques and reduce the usage of large cash

Bad management practices affected Merbank — Majority

Overexposure and bad management practices are responsible for the dire straits in which Merchant Bank Ghana finds itself, the Majority group in Parliament has said

Retail Banking