Managers of Wealth Africa

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.

StanChart online money market fund hits Sh1bn

The product, called SC Shilingi Fund, was launched mid-February last year and has attracted over 10,000 customers who enrol with at least Sh500 and opt for daily, weekly, monthly or one-off contributions.

Banks lending rate to customers hits 29.13%

Monetary Policy Rate stood at 16.5 per cent in the period under review.

Banking Beyond Tomorrow

These developments, which all come with challenges, require financial institutions to be positioned to always meet the needs of their customers.

Absa Bank certified top employer in Kenya and Africa

The institute says that its certification program has certified over 2,000 organisations in 121 countries/regions.

Access Bank Restates Commitment to Deepen Presence in Kenya

The completion of the proposed transaction was subject to fulfilment or waiver of certain conditions before the Long Stop date as defined in the transaction agreement.

Mambu enables South African TymeBank to launch in the Philippines

In a similar approach to TymeBank in South Africa, GoTyme Bank in the Philippines offers next-level digital banking services via kiosks set up in retail outlets belonging to Robinsons Retail Holdings Inc under the Gokongwei Group.

Banks face contempt in cash transfer standoff

Safaricom is also still charging for transfers from M-Pesa to banks.

Costly bank charges and fees triple home loan repayment

The rise has come on the back of CBK increasing the benchmark lending rates thrice last year to 8.75 percent on November 23, being the highest since September 2019 when the rate was at nine percent.

Heat on banks to reimagine customer experience amid digital revolution

Many lenders are falling behind the technology curve and not fully ready for the transformation

First National Bank collaborates with visa international to resolve post-transaction debit issues

First National Bank Ghana is part of the FirstRand group, which is the largest listed financial services group in Africa by market capitalization.