Managers of Wealth Africa

South African lender Absa flags above-target loan losses in 2024

South Africa's prime lending rate of 11.75% at end-2023 was 125 basis points (bps) higher than a year earlier and 475 bps above the bottom of the interest rate cycle from mid-2020 to late 2021.

Absa shares slide 5% as weaker SA market hits profits

Credit impairments increased 13% to R15.5 billion, with the bank reporting higher impairments in its SA business.

Absa Bank Kenya Plc Q32023 Interim Report

Absa Bank Kenya Plc is a financial services outfit listed on the Nairobi Securities Exchange (NSE).

StanChart raises dividend payout as net profit hits Sh13.8bn

Operating expenses, however, grew 20 percent

Ghana's Banking sector profitability indicates rebound from DDEP losses BOG

The BoG said the growth outturns of key income lines contributed to the improved profit performance of the banks in 2023.

Capitec disrupts business banking by charging the same as personal banking

“We understand the challenges businesses face through traditional banking,” said Capitec CEO Gerrie Fourie.

Moody’s gives seven SA banks a ratings thumbs-up

The upgrade shows banks have a stable outlook, despite operating headwinds.

Government launching new bank in South Africa this year

The bank plans to commence operations in July 2024, offering savings and investment products.

Co-op, NCBA, Family Bank top customer experience poll

ABC Bank was ranked the top among the tier-three lenders, Sidian Bank was second while HF Group came third.

Sparks of hope for South Africa – despite consumer crunch

Collectively, these conditions have put increasing pressure on consumers’ finances and led to reductions in business confidence and investment in most sectors other than energy.

FNB sounds the alarm for consumers in South Africa

The group saw a R477 million reduction in fee and commission income over the period, but this was due to sub-inflation fee increases across both retail and commercial accounts.

Access Holdings Expresses Commitment to Redefine Banking in Africa

In 2020, Access Holdings took a major step forward by acquiring a majority stake in Kenya-based Transnational Bank (TNB).

KCB Group, MasterCard in East Africa cards deal

In the partnership, the firms seek to deepen financial access, connect customers with novel experiences

Interest rates on bank loans race past 26pc in fresh review

Commercial banks are now charging more than 26 percent interest on loans in another round of credit repricing that signals more pain for risky borrowers amid a surge in defaults.

FirstBank Rewards Customers With 93m

Customers who have decided to remain with us for a long, long time.

Banks open to loan restructuring as higher rates, inflation raise defaults

The latest move is part of efforts to avert potential defaults and strengthen customer loyalty in a competitive banking sector.

Chinese e-commerce boom in South Africa – as local retailers cry foul

Temu is a fast-growing business in the country, having launched its South African site in January 2024.

Big surprise for retailers in South Africa – but consumers still feel the pain

Retail trade sales increased by a flat 0.1% in the fourth quarter of 2023 compared with the fourth quarter of 2022.

KCB, Visa launch premium card service for super-rich

The cardholders will enjoy faster rewards earning rates

Treasury takes Sh258 billion foreign loans in seven months

Kenya has meanwhile received Sh74.9 billion ($468 million) in project loans over the same period.

Retail Banking