Managers of Wealth Africa

Zimbabwe Creates Company to Purchase Bad Debt From Banks

The Reserve Bank of Zimbabwe created a company that will buy non-performing debt from banks.

Namibia’s Central Bank Approves Trustco’s Acquisition Of Fides Bank

The central Bank of Namibia had granted Trustco permission to acquire Fides Bank Namibia, the Johannesburg and Namibia-listed financial services firm said on Thursday.

Nigeria Kicks Off Disbursement of $1.3Bn Fund To Entrepreneurs

The governor noted that access to finance had a multiplier effect on the economy as it would have the much needed catalytic effect on job creation and poverty reduction.

Give And Stake: This Is What Nedbank’s Money Means To Ecobank

Nedbank’s is not the only loan Ecobank is hopeful of converting into shares.

FirstRand Bank focuses on urban unbanked for growth

Current pilot includes going to smaller, specific areas such as Hill road in Bandra and Lokhandwala in the western suburb of Mumbai instead of going to larger areas

Banking in Africa - From the point of view of an expert

Africa is largely unbanked. With over 1 billion of population in Africa, 53% of the population consists of Muslims. I see major opportunities for the banks to grow and capture the unbaked.

State Postbank Applies to Compete With South African Lenders

The South African Reserve Bank is considering an application by the state-owned Postbank to allow it to lend

Kenya's Diamond Trust Bank profit jumps 17 pct on higher lending

Kenya's Diamond Trust Bank increased first-half pretax profit by 17 percent year-on-year, helped by growth in net interest income and fees

Kenya's Diamond Trust bank raises $41 million for expansion

Kenya's Diamond Trust Bank has raised 3.6 billion shillings ($41 million) in an oversubscribed rights issue to expand its branch network in the region and to support lending.

Standard Bank Says First-Half Profit Gains 2% on African Growth

Standard Bank Group Ltd., Africa’s largest lender, said first-half profit rose 2 percent, helped by a decrease in bad debts and growth outside South Africa.

Barclays Kenya to expand mortgage finance unit

The bank said it would not pay an interim dividend to enable it to meet new capital requirements set by the Central Bank of Kenya and raise capital for investment

Barclays Bank of Kenya says H1 pretax profit up 12 pct

The bank's profit lagged its rivals Equity Bank, the countries biggest by deposits, and KCB, the largest by assets.

China Commercial Bank to open its doors in Tanzania

The China Commercial Bank (CCB) was granted a provisional banking licence on 7 August to operate in Tanzania and has plans to open a Dar es Salaam branch soon

African Bank placed under curatorship

While we do not see systemic risk in this, we would be conscious that any bank that fails has risk to it

Mobius Sees African Bank Fallout Isolated After Rescue

South Africa’s biggest lenders are likely to remain immune to the fallout from the collapse of African Bank Investments Ltd.

Rights Issue: Diamond Bank Set For Expansion

The rights issue which has commenced on July 30, 2014, will be closing on August 26, 2014.

Tetrad Investment Bank takeover stalls

The affirmative vote means that any action, application or executions against the bank will be put on hold.

Nedbank faces Ecobank poser

BANKING giant Nedbank is in the best shape it has been for more than a decade.

Govt keeping close eye on Abil

The unsecured lender says it needs to raise at least R8.5 billion after significant losses.

CBZ Holdings records 20% decline in profit after tax

In the same period last year, profit after tax was $16 million.

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