Managers of Wealth Africa

Banks to use Treasury bonds as loan collateral

The key change in the ongoing reforms is for a borrowing bank to surrender ownership of the securities to the lending institution, which will hold the assets until the loan is settled.

Banks charged customers N715bn for electronic transactions

Credit-related fees and commissions, account maintenance costs, corporate finance fees, e-business revenue, asset management fees, and commission on foreign exchange deals were all included in the prices and commissions.

South Africa’s most exclusive credit cards – how much you need to earn to get them

According to the World Inequality report 2022, the country’s top 10% of income earners earn around R783,750 per annum or R65,310 per month, while the top 1% earn an estimated R2.58 million per annum or R215,330 per month.

StanChart retains position as Digital Bank of the Year

It said the bank in reclaiming the awards it won last year, underscored its position as the undisputed leader and authority in Ghana’s digital banking service provision.

Kenya defers Sh90bn debt payments on Eurobond miss

The resultant funding gap resulted in the country not honouring payments equivalent to 0.7 percent of the gross domestic product in the last financial year.

UBA Group Committed to Development of SMEs Across Africa, Set to Transform Payment Landscape via PAPSS

UBA has been the lead sponsorship partner for the annual event since 2019.

Zenith, Access, Wema lead peers in deposit growth

Total deposit base grew by 19.0 percent to N51.8 trillion in 2021

South Africa’s banking and payments industry IT recruitment activity drops 23.4% in October 2022

Software and Web Developers, Programmers, and Testers recorded a share of 32.84% in October 2022, registering a 47.66% decline over the previous month.

SCBA Reports 112% Increase In Profits

Revenue from banking activity of AOA 10,179m showed an increase of 43%

First Bank to Boost Funding to Mining Sector

Also, speaking on the panel discussion, the Executive Secretary /Chief Executive, Solid Mineral Development Fund, Hajiya Fatima Umaru Shinkafi, said that although the mining industry in Nigeria is 70 per cent artisanal, the miners could be more productive

Amid Fintech Threat, UBA, Others Generated N203.71bn Income via E-banking in 9 Months

Also, the banks reported N186.3billion in income from digital channels in nine months of 2021, an increase of 9.3 per cent despite challenges from Financial Technology (Fintech) companies.

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.

Retail Banking