Managers of Wealth Africa

United Capital’s Annual Profit Falls Despite N27bn Record Revenue

Profits took the most blow from the need to set aside N6.2 billion from revenue to cover loans.

Banks’ assets rise to N73tn – CBN

This impressive increase was achieved amid continued decline in non-performing loans ratio from 4.90 per cent in December 2021 to 4.20 per cent in December 2022.”

Bank loan rates increase to highest level in 52 months

The lenders are reacting to the CBK’s decision of September 29 that raised the benchmark interest rate by 75 basis points to 8.25 percent to anchor inflation expectations.

Nigerian banks face near-term credit risks from regional expansion —Fitch Ratings

Non-banking subsidiaries offer diversified products including payments, insurance and pension funds which have significant upside potential.

Nigerian Banks Face Credit Risks From Regional Expansion – Fitch

Nigerian banks will face near-term execution and credit risks from their presence in other Sub-Saharan African (SSA) markets, depending on the degree of operating environment…

Banks across Egypt, Morocco, and Jordan face an uncertain 2023

S&P says Egypt's growth should continue to slightly outpace peers

Premium Trust Bank gets recognition

We are glad that all the goods work done in the past couple of months are beginning to yield positive results.

Standard Chartered’s FY2022 results in Africa and Middle East announced

Record performance for the bank in Africa and the Middle East

The cheapest business accounts from South Africa’s top banks

This type of account offers a flexible and cost-effective solution for small businesses.

South Africa’s biggest retailer is offering all-inclusive bursaries for 2023 – here’s how to apply

“All bursary recipients are offered employment with the group on completion of their studies.”

African Bank scoops top employer honors for the second year in a row

African Bank was certified as a Top Employer in South Africa, alongside 2 053 organisations in 121 regions across five continents.

Retail Banking Needs to Quickly Evolve to Survive Pressure From Challengers in South Africa

The likes of Tyme Bank, Discovery Bank, and Bank Zero are opening the eyes of consumers in the region to new types of personalised banking that could be more suited to today’s world.

How the Digital Banking Revolution Can Help South African Banks Regain Their Customers Love

It follows a recent report by Discovery Bank in partnership with BCG, the Future of Retail Banking, which found that over 80% of consumers prefer to conduct their day-to-day banking digitally

Network International commits R500m for local payments platform

The new digital payments platform, which is configurable and customisable, currently processes over four million transactions per day and over $60-billion of digital transactions a year.

More than half of payments made with First National Bank cards in South Africa are now contactless

FNB reported a ‘surge’ in contactless payments from smart devices in South Africa in March 2022.

Ecobank wins Best Place to Work in Africa 2022 Award

Receiving international recognition as being one of the Best Places to Work in Africa is a great honour. It is noteworthy that this Award would not have been possible without the support of my colleague Ecobankers.

Vodacom sheds over 840,000 customers in South Africa

South Africa still accounts for the bulk of group and group service revenue, which totalled R30.7 billion and R24 billion for the quarter, respectively – up 4.7% and 3.5% on a normalised basis.

Commercial International Bank acquires Mayfair Bank in Kenya

The CIB’s entry into the Kenyan market in April 2020 was through the acquisition of a 51% stake in Mayfair Bank

Fidelity Bank wins Best SME Bank in Nigeria at Global Banking & Finance Awards

The awards were created to recognize companies of all sizes that are prominent in particular areas of expertise and excellence within the financial community.

Fight for Sh2 billion haul at Ecobank intensifies

The fight involves Gregory Schmidt, and Monthida Rashi from Laos against three Kenyans Stephen Maina Njenga, Felix Rantu Lekishe and Solomon Joseph Maina.