Managers of Wealth Africa

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.

Government ready to launch state bank for South Africa

The department is currently waiting for the necessary legislation to make its way through the National Assembly to give the Postbank the necessary basis to take on the role of a state bank.

Economy’ll rebound with credible polls — Bank CEOs

Areas of concerns, according to them, include investment attractiveness, foreign exchange inflows, financial sector robustness and general economic wellbeing of the citizens.

FNB is the most valuable financial services brand for the 3rd successive year

The latest recognition as the leading financial services brand also reinforces FNB’s ongoing efforts to build a strong, trustworthy, and highly regarded brand.

Kenya’s public debt growth pace slowest in four years

The public debt had surged by Sh879.7 billion in the year to September 2021 and by Sh1.16 trillion in a corresponding period a year earlier.

World Bank to vastly expand lending capacity to fight climate change

To boost support for development and climate finance, the bank will consider new financing tools such as private sector loan guarantees

DMBs, Merchant Banks Borrowed N11.01trn from CBN in 2022

CBN in its economic report for January 2022 said, “Total SLF contracted considerably by 52.4 per cent to N338.40 billion from N711.54 billion in December 2021, a fallout of the improved banking system liquidity in the period.”

Ecobank remains Togo’s top bank for the 3rd consecutive year (The Banker)

In December 2021, Ecobank Togo signed a partnership with five major insurers to provide SMEs, in Togo and 26 other countries covered by the lender, with bancassurance products.

Fidelity Bank Named NACC Trade Ambassador

Our commitment as a bank is to do more in this space and we welcome collaboration from the NACC members in extending Nigeria’s export footprints.

Fidelity, First Bank, GTco lead peers in SMEs support

The SMEEIS is a voluntary initiative of the Bankers’ Committee which was in response to the Federal Government’s concerns and policy measures for the promotion of SMEs as vehicles for rapid industrialisation, sustainable economic development,

New payment system launching in South Africa next year

This comes amid the South African payment industry expecting steady but cautious growth over 2023

News: CBE resumes banking services in three Tigray cities, but access to savings, cash withdrawal off limit

The Bank further said it will be expanding its services “at all branches as conditions permit, but gave no details if the said expansion will be be for accepting remittances and depositing money from abroad or full banking services.

Retail Banking