Managers of Wealth Africa

FCMB Emerge as the Best SME Bank in Africa and Nigeria

The SME friendly bank beat all other Nigerian and African banks to win national and continental honours.

Potential loan defaults haunt Tanzanian banks

CRDB’s 4.4 percent figure for Q2 was up from 4.1 percent posted in Q1 (January to March) but still within BoT threshold range, while NMB’s ratio of 4.3 percent were a drop from 5 percent in Q1.

Access Bank posts happy H1’21 numbers with N450.6bn revenue, 30k dividends

During the review period for the tier-1 lender’s interim consolidated and separate financial statements for the period ended 30 June 2021, its profit after tax grew by 42.44 percent to N86.94 from N61.04 billion

Kganyago: Financial inclusion doesn't mean 'shoving credit down the throats of the poor'

SA has battled to meaningfully include a larger portion of its population in mainstream finance, with few lower-income earners able to access loans from banks.

Standard bank selects TCS BaNCS cloud for digital claims transformation in short term insurance

TCS SaaS offering to help the leading South African insurer process claims faster, offer personalized customer experiences, and drive product innovation

Dollar Crunch Turns Nigerian Banks Into Africa’s Cheapest Stocks

Johannesburg-traded steelmaker ArcelorMittal South Africa Ltd. completes the quintet.

LeapFrog acquires 16.94% stake in Fidelity Bank Ghana

LeapFrog Investments has acquired a 16.94% stake in Ghana’s largest privately-owned bank, Fidelity Bank Ghana, from Amethis and Edmond de Rothschild Equity Strategies (ERES).

Zenith Bank posts N117b profit before tax

In a statement, the bank said the group’s retail journey continues to deliver positive results as retail deposits grew by N38.2 billion from N1.72 trillion to N1.76 trillion year-to-date.

With Large Corporates, Multinationals Dominating, Credit to Private Sector Increases by 6.68% YTD

Analysis of CBN numbers showed that credit to private sector in seven months of 2021 appreciated by N2.19 trillion, a development some analysts say showed deposit money banks supporting the apex bank in lending to real sector and creating jobs.

FNB launches investment account with no monthly fees

A Shares Zero account lets customers invest in a range of Ashburton exchange-traded funds (ETFs) at no cost

African Development Bank's Youth Entrepreneurship and Innovation Multi-Donor Trust Fund provides more than $7.3 million for youth jobs and skills

Themes submitted included capacity building for entrepreneurs, climate change, gender, affordable housing, food security, migration and textiles, with the common thread of creating decent jobs for young women and men.

Co-op Bank extends joint venture with South Sudan

The government took the remaining 49 percent equity which it was to hold in trust and later transfer to the co-operative movement in that country in a few years.

Africa’s Biggest Bank Looks to Add 40% More Clients on Continent

We are targeting over 25 million highly active and highly digital clients

Standard Bank to cut space by as much a quarter, targets 15m SA clients

Already saving R400m per year from branch and head office space reductions.

Eight banks lose N1.9bn to fraud in one year

The report also revealed that ATM, Internet bank, mobile and impersonation fraud cases cost the bank N830.1m, N37.7m, N16.2m and N989,700 respectively.

KCB Half Year Profit Up 102pc To Sh15.3bn

Assets stood at Sh1.02 trillion from Sh953 billion as customer deposits increased 4 percent to Sh786.03 billion from Sh758billion.

Sanlam Kenya Restructures Foreign-Denominated Loan And Reports Revenue Growth For Its Insurance Subsidiaries

The firm’s gross insurance revenues improved significantly for both Life and General business under the dark Covid trading cloud.

Stanbic Bank registers Ksh. 3.5 billion net profit, reinstates interim dividends payout of Ksh. 1.7 per share

In May this year, Stanbic registered a 26.7% increase in Profit after tax to Ksh. 1.9 billion from Ksh. 1.5 billion recorded in a similar period last year.

Absa’s Subash Sharma on how banking innovations are helping customers through the pandemic

Sharma highlights the important role that innovation has played in improving customers’ experiences and seeing the banking industry evolve in South Africa.

Access Bank introduces USSD to protect customers against fraud

In its promise to offer customers more than banking, Access Bank has not wavered in its drive to not only deliver speedy services but also security for all.

Retail Banking