Managers of Wealth Africa

Absa unit trust funds register 265pc quarter growth to hit Sh1 billion

Coop Unit Trust Scheme grew its assets under management by Sh430 million or 13 percent to Sh3.73 billion in the period.

FirstBank: Sustained growth, industry leadership in 9M’22

FirstBank’s transition to sustained growth in performance indices, prompted two global rating agencies, Moody’s Investors Services and Fitch Ratings to upgrade the credit ratings of the bank and that of FBN Holdings, the parent company.

African Bank completes takeover of embattled Ubank

Dloti said the Ubank transaction is an essential element of African Bank’s Excelerate25 strategy, with the joining of the two businesses to build a scalable, diversified and sustainable banking business with a compelling listable proposition.

Equity tops East African banking rivals

The ranking by African Business, based on the tier-one capital buffer, has placed Equity ahead of its rivals in East Africa.

South Africa readies for real-time low value payments

The second stage, will introduce an additional request-to-pay function which makes it possible for a person to request payment and receive money securely and immediately in their bank account.

Consumers rush to credit to keep their heads above water

South Africans rely more on credit card debt and overdrafts despite rocketing interest rates

Bank dollar rate jumps to Sh130 on high demand

Equity Bank and I&M Bank quoted the selling price of the dollar at Sh130.35 and Sh130.75 per unit respectively yesterday, while buying at Sh118.75 and Sh119.85.

Zenith Bank posts N620.6b gross earnings in Q3

Its total assets grew by 20 per cent from N9.45 trillion to N11.34 trillion in 2022, mainly driven by growth in customers’ deposits.

Banking sector resilient amid economic challenges – Afrinvest

The report’s assessment of CBN’s financial stability indicators showed that industry liquidity and non-performing loan ratios both improved by 130 basis points(up) and 75bps(down), respectively, to 42.6 per cent and 4.95 per cent.

Parallex Bank wins Excellence in Agency Banking Award

The bank won the award for its outstanding service in reaching the unbanked and making banking accessible to all.

UBA’s Q3 gross earnings hit N608bn

UBA’s financial report filed with the Nigerian Stock Exchange showed it recorded 12.3 per cent rise in profit

GT Bank, Stanchart most profitable banks in Ghana – PwC Ghana Banking Survey Report

Zenith lost its place amongst the top 3 and was replaced by ABSA as the third bank with profit before tax margin of 65 per cent.

Lagos State Partners Hacey, Access Bank, to Launch Demographic Dividend Roadmap

The demographic dividend estimation profile is intended to identify the logical potential that can be harnessed by countries during a period of demographic transition.

Polaris retains Ahmad to chair new board

Polaris had operated as a bridge bank since 2018 when the apex bank revoked the licence of the defunct Skye Bank Plc and set up Polaris to take over its assets and liabilities.

Boundaries: Mixing money and family

Financial conversations are not always easy, but they are the most important ones you must have.

KCB digital pay deal allows easy diaspora remittances

The partnership with Mobex- an affiliate company of TerraPay Group- will see KCB strengthen its position in the global payments ecosystem.

Standard Chartered Bank's exit from retail business and the future

Right now, close to about 95 percent to 96 percent of our transactions are actually done digitally.

GT Bank, Stanchart most profitable banks in Ghana – 2022 PwC Ghana Banking Survey Report

The average interest rate on investment securities increased from 14% in 2020 to 15.5% in 2021.

BNP Paribas puts its South African subsidiary up for sale

Its sale is the continuation of BNP Paribas' plan to withdraw from Africa and refocus on European and Asian markets.

Musalia Mudavadi reveals Absa, First Assurance stake in Sh4bn wealth

Kenya’s business magnates, politicians and new millionaires have in recent years taken to flying as the preferred mode of transport – expanding the market for leasing and private ownership of planes.

Retail Banking