Managers of Wealth Africa

Afreximbank, UBA disburse NNPCL over $2bn oil-for-cash loan

In a statement from UBA over the weekend, an initial disbursement of $2.25bn has been made and a second tranche of $1.05bn is expected to be disbursed subsequently.

Banks Leverage SDF Gains, Deposit N902.66bn with CBN as Lending to Real Sector Wilts

THIISDAY gathered that banks in the first eight days of 2023 had deposited and borrowed N182.8 billion and N359.88 billion from the CBN, respectively.

FirstRand eyes big expansion plans

Both Standard Bank Group Ltd. and Nedbank Group Ltd., which compete with FirstRand in their home market of South Africa, are moving to capitalize on the rapid economic growth

Africa’s Biggest Bank Eyes Acquisitions to Power Growth on the Continent

Shares of FirstRand rose 18% last year, lagging behind Standard Bank’s 24% rally.

ATM usage drops to 40% over naira scarcity – KPMG

The report further noted that the rise in agency banking emphasises the continued popularity of cash, underscoring customers’ quest for more readily available cash options, primarily driven by the popularity of bank agents across the nation.

South African banks are closing the taps

Credit card growth thus grew slightly from 9% in October to 9.1% in November.

Adeduntan: FirstBank is Future-proof and Remains Committed to the Gold Standard of Excellence in Banking

The global community is yet to recover from the hostilities in Eastern Europe and the Middle East and the wars do not look as if they will end soon.

How billionaire Khimji family sold Fidelity Bank for Sh100

The initial talks had seen SBM propose further payments after recovery of bad loans, but on November 16, SBM had changed its tune and claimed that Fidelity Bank was worth Sh1 billion.

UBA, Sterling Bank lead as NGX banking index records 114.9% growth in 2023

The group also demonstrated a commendable financial performance

Unionpay International selects BankservAfrica for South African card payments

Taking our approach of 'share growth', we can create an enabling marketplace that benefits all participants within the payments ecosystem

Fresh twist in Kiwipay billions at Ecobank

The firms claim that Kiwipay collected the Sh898 million from thousands of their clients, but has declined to transfer the funds to them.

Yoco enables growth and inclusion for small merchants with MediaTek technology

It’s a market that the traditional players in merchant acquiring viewed as too small, fragmented and complex to address in a cohesive and profitable manner.

Domestic borrowing jumps by 134%, rises to N52tn

This is based on new revelations by the Director-General of the Debt Management Office, Patience Oniha.

World Bank lends $250m for Kenya’s public finance reforms

The funding is expected to serve an estimated 485 ministries, departments, and agencies, 240,000 registered firms, and 18 million citizens who use government e-services.

Treasury’s emergency loans at CBK hits record Sh91 bn

The National Treasury has been running up its overdraft balance at the reserve bank in recent months with the facility representing a last-resort avenue to fund the budget deficit.

Consumers start feeling loans pain as banks raise rates

The move signalled banks to increase their lending rates, with several institutions preferring to re-price the cost of new loans rather than existing credit facilities.

UBA secures $175m AfDB loan

The facility will be complemented with technical assistance from the Affirmative Action for Women in Africa initiative to boost access to finance and technical assistance to women SMEs.

Wema Bank MD Calls for Innovative Finances to Address MSMEs Challenges

Co-Founder, Africa Sustainable Trade, Dr. AMA Onyerinma, revealed that the need to tackle the issues of gender inequality, noting that there is a challenge for women in entrepreneur.

ZojaPay App Unveiled to Streamline Payment Processes

ZojaPay epitomizes the digitalization of payments, transcending boundaries to facilitate transactions seamlessly and securely, regardless of location.

Not a merry Christmas for retailers in South Africa

Respondents in the non-durable goods retail sector (e.g., food, beverages, groceries, cosmetics and pharmaceuticals) said that sales volumes were significantly lower compared to the 2022 holiday season.

Retail Banking