Managers of Wealth Africa

These are all the companies Gordhan and other ministers are invested in

The interests range from shares valued at R550, to holdings of R453,900 in Absa Bank.

South Africa's Capitec bank reports 15% rise in profit

Profit on the upper end of its forecast range

These are South Africa’s favourite banks

FNB, Absa and Standard Bank have a larger proportion of South Africans that earn more than R10,000 compared to lower income brackets.

Standard Chartered: Qatar economic growth forecasted to be highest in Gulf

Growth forecasted to be at 4.0% in 2023, down from 4.75% in 2022

Bank runs in South Africa? Unlikely

The nature of local banks’ depositors is one reason few analysts see the odds of a run here. Rather, the global sell-off, they say, is good reason to buy

FNB at the forefront of innovative credit solutions

The bank has reimagined ways to support customers with its R1bn SME Bounce Back Loans and new financial solutions for alternative energy

UBA, Zenith Bank, Four Others Declare N389.8bn Dividend in Two Years

The dividend pay out is on the back of N1.32 trillion profit after tax (N691.97billion in 2022 and N631.41 billion in 2021) financial year.

The Reserve Bank’s new plan to secure bank accounts in South Africa

CODI aims to put South Africa on par with its international peers and further align its financial sector to the principles of international standard-setting bodies.

KCB, Equity raise loan reserves by $154m in bid to protect gains

KCB Group more than tripled its statutory loan reserves and increased loan loss provisions during the same period.

South Africa’s Peach Payments lands $31m Series A funding

“We want to be the infrastructure layer they build their business on. This was our original vision when we started, and is more relevant today than ever,”

Use of multiple bank accounts declines to 48pc

The banking industry has benefited from the use of multiple accounts, allowing several institutions to earn revenue from a single customer.

African Development Bank approves $147 million in subordinated debt to the Mauritius Commercial Bank

The financing is expected to catalyze additional deposits to expand MCB’s loan book, benefiting several Mauritian and African corporates, as well as SMEs.

CBK signals costly loans after hiking rates to five-year high

The 9.5 percent rate is the highest since March 2018 and will egg banks on to make a fresh round of lending rate increases that will hurt businesses in a recovering economy.

Banks insured deposits double to Sh710 billion

The deposit coverage limit was raised to Sh500,000 per account in July 2020 following amendments to the KDIC Act, which were to offer enhanced protection to banking depositors.

‘Fraud slows down e-payment adoption’

Irechukwu noted that in recent months, social media had been awash with reports of fraud cases, with many of these cases going viral, embarrassing the banks involved.

DRC market biggest for KCB, most profitable for Equity

NBK ranks as the second largest subsidiary for KCB ahead of BPR Rwanda

Absa re-enters custodial business after the sale of unit to StanChart

The main revenue line for the custody business is from the fee you are charging

Transfer money out of South Africa quickly and securely with Rand Swiss

You will also have peace of mind knowing that all Rand Swiss transactions are highly secure, and approved by the SARB.

South Africa's real-time low value payments platform launches

The initial phase of PayShap will see the participation of the first cohort of banks: Absa, First National Bank, Standard Bank and Nedbank. More banks and non-banks are set to follow.

Skills gap poses a huge security risk for businesses in South Africa

Most companies (74%) rely on IT staff to manage their technology

Retail Banking