Managers of Wealth Africa

African economy on the upbeat despite pressures

The report said, “Africa’s growth forecast for 2022 points to continued fortitude even in the face of heightening inflationary pressures and geopolitical risks.

Banks reward savings accounts with 1.28%, lending hits 26.61%

With an inflation rate of 16.82 per cent as of April, he said if a person was getting returns as low as 1.28 per cent on savings, the gap was going to be too wide and there would be saver loses.

Discovery Bank to refund Vitality clients affected by Comair shutdown

The group went into business rescue in May 2020 after Covid-19 pandemic era lockdowns, travel bans, as well as rising fuel prices, wreaked havoc on the travel industry.

Nigeria’s Access Bank acquires Kenya’s Sidian Bank for $36.7m

The deal is said to still be subject to regulatory approvals in Nigeria and Kenya and will add to the acquisition deals in Kenya’s banking sector.

TymeBank is adding 130,000 people a month in South Africa – but there’s a hitch

“TymeBank is sustaining the momentum of acquiring about 130,000 customers per month."

African Development Bank to launch public financial management academy to build capacity in African countries

The Bank will establish a Policy Laboratory Unit comprised of certified global experts on public financial management who will be the faculty members to deliver the courses.

Bank profits up in Q1

The improving profitability among commercial banks comes as credit growth also increases, with total outstanding loans to all sectors rising to P69.6 billion in March, compared to P69 billion in February and P65.6 billion in March 2021.

Access Bank in fresh $37m Kenya acquisition deal

The deal is a continuation of the bank’s inorganic growth trajectory.

FNB is downsizing its branches – and making them greener

The bank has also revealed plans to continuously modernise its branches, with a strong emphasis on digitisation, improved client service, and optimal cash solutions for customers.

UMB innovates with Digital solution for Ghana Card linkage to accounts

This is in line with the Bank of Ghana’s and the government’s strategy to make the Ghana Card the primary ID in the country.

Afreximbank Backs Titan Trust Bank with a $300m Intra-African Investment Finance Facility

“The development impact of the acquisition is immense as TTB will leverage the merged entity to provide financing of about $3 billion over the medium term of which over $600 million will directly support intra-regional trade finance,”

Vietnam’s MSB Selects Temenos to Modernize Retail and Corporate Banking

Temenos open platform for composable banking will accelerate MSB’s digital transformation and scalability

Co-op Bank Wins Bank of the Year Award at Ghana Event

The African Banker Awards are a landmark annual event for African banking taking place during the annual meetings of the African Development Bank (AfDB).

African Bank launches a new SME development programme

African Bank has announced the launch of its new Enterprise and Supplier Development (ESD) Capacity Building Programme

Diamond Bank former director, Chizoma Okoli, acquires more stake in Access Holdings

This acquisition made Access Bank the largest bank in Nigeria and Africa by customer base.

Access Bank records growth: Operating income rises 28.3 per cent

This represents a 28.3 per cent rise during the period.

Banks open new branches in rural counties despite automation

The choice of the new bank branches in these counties also appears strategic as most of them are agricultural-rich with major cash crops such as tea and coffee, meaning they have high cash circulation.

FCMB unveils vehicle ownership scheme

Nigerians can now finance their dream vehicle with an auto loan from FCMB at a low-interest rate with monthly or yearly payment options depending on their income.

Banks’ earnings rise faster than economy growth rate

The banks recorded N371.9 billion in pre-tax profit, an 18.6 per cent increase over N313.5 billion posted in Q1, 2021.

Fidelity Bank Ghana is the Best Bank in West Africa – African Banker Awards

The Bank has over the years perfected a variety of innovative product offerings that have succeeded in absorbing hitherto marginalized customers from the unbanked and under-banked segments into the formal banking sector.

Retail Banking