Managers of Wealth Africa

Eight banks record N502bn loan losses

An impairment charge usually reflects a fall in value or worse-than-expected performance of the asset.

Why South Africa’s top companies use Codehesion for app and software development

Codehesion then ensures it only employs highly-skilled and experienced software engineers, computer scientists, and project managers who specialise in software development.

KPMG Survey Lists Polaris Bank as Most Improved Retail Bank

Polaris Bank’s award-winning Digital Bank, VULTe has been a game changer, making life seamless for personalized and business offerings. Between October 2022 and February 2023, over N1.5 billion loans has been disbursed through VULTe to individuals a

Fidelity Bank Targets 5 Acquisitions In Africa

Fidelity is racing to expand and avoid losing out on fees from facilitating trade and corresponding banking roles to larger rivals.

Payments Canada Summit: Ghana's eCedi pilot

Ghana has been aggressively pursuing a financial sector digitisation programme for several years as it seeks to boost financial inclusion and wider economic growth.

FirstBank Strengthens Banking Reputation Across Africa

From FBN Bank, the name of the subsidiaries had been changed to FirstBank UK, FirstBank Ghana, FirstBank Guinea, FirstBank Senegal, FirstBank DRC, FirstBank Sierra Leone and FirstBank Gambia.

UBA Ghana posts 16% growth in balance sheet

The increase in net operating income, the bank explained, was mainly due to a conscious effort to increase risk assets which saw an increase in Gross Loans and Advances by GH¢581.1 million from GH¢1,135.1 million to GH¢1,716.2 million, repr

Fidelity Bank records growth with FY’22 financials

The bank’s net loan balance in 2022 stood at N2.116 trillion (2021: N1.66 trillion). This

Polaris Bank About Closing Down Over Unpaid Staff Salaries

In October 2022, the CBN sold Polaris bank for a paltry N40 billion under controversial circumstances, after sinking over N1.2 trillion into it.

Card, mobile money transactions rebound

The rebound in January and February this year boosted expectations of a return to growth for these cashless transactions going forward, following a decline in 2022.

Ecobank, Lagos partner for growth, development

The Ecobank Group was established in 1985 to drive financial integration and socio-economic development in Africa.

Listed banks take 87 percent of Kenya industry profits in the year to December

KCB Bank Kenya is the most profitable having posted a pre-tax profit of Sh49.7 billion in the review period or 20.4 percent of the sector’s total.

Nigerian banks hooked on non-core lending income despite CBN push

Further analysis reveals Access Bank’s N508 billion non-operating income is attributable to most contribution from net gains on financial instruments at fair value

Eight banks rake in N225bn from e-banking fees

This is happening as more Nigerians continue to adopt electronic forms of payment with total cashless transactions rising by 42.05 per cent y-o-y in 2022.

Union Bank grows earnings by 19%

Operating expenses grew marginally by 0.4 per cent to N79.4bn from N79.2bn in 2021, reflecting tight cost control despite inflationary pressures.

Islamic banking: A growth market for customers seeking no-interest products

Islamic banking is growing in double-digits in SA, with conventional banks like Absa now customising the experience for consumers.

FirstBank: Boosting global expansion with subsidiaries’ name change

It also said that the Ghana, Senegal and Guinea subsidiar- ies would be next in the phased name change implementation.

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.

Retail Banking