Managers of Wealth Africa

Fidelity Bank’s first quarter profit rises 64% on higher forex gains

The bank’s asset base scaled up from N2.3 trillion to N2.9 trillion.

Q1: Ecobank Group Grows Profit after Tax by 23% to N30 Billion

Profit after tax grew by 23 per cent from N24.694 billion to N30.494 billion.

Tanzania: Equity Sets to Triple Customer Base

The bank has 4,271 agents as of mid-last week and 14 branches across major cities and towns.

GTBank grows deposit to N3.7trn in Q1’21

This is a reflection of the resilience of our franchise, our prudent approach to risk management and the efficacy of our digital first customer-centric business strategy.

Polaris Bank Posts N28.9bn Profit in 2020

Its total assets stood at N1.18 trillion, which was a three per cent growth over the previous year, while shareholders’ funds grew by N14 billion (17%), largely attributable to internally generated profits.

Absa’s CEO Exit Creates More Than Just One Headache for Lender

The lender’s first Black CEO resigned on Tuesday following a dispute with some subordinate directors over strategy, less than two months after his deputy Peter Matlare died from complications from Covid-19.

Nedbank Launches WhatsApp Money Service With Mastercard In S. Africa

It's part of our compliance with financial regulations in South Africa to match your ID or passport photo with your selfie.

NBK turnaround is work in progress

The bank would receive billions of shillings in State-funded bailouts only to continue to make loans to unreliable borrowers.

Guaranty Trust Bank Reports Pre-tax Profit Of N53.7bn In Q1

Deposit Liabilities increased by three per cent from N3.611 trillion in December 2020 to N3.717 trillion in March 2021, whilst the Group’s loan book (Net) dipped by 1.4 per cent from N1.663 trillion recorded as at December 2020 to N1.639 trillion in

The Mauritius Commercial Bank Ltd (MCB) provides USD 60m funding to fuel Senegal's national electrification and LNG-use ambitions

The Powership will soon shift from the use of heavy fuel oil to gas.

COVID-19 trims bank acquisition costs to their lowest

With the ratio slumping to its lowest level across seven years to the end of 2020, this means that the market is attaching a lower costs to bank acquisition in respect to their asset carrying value.

Moroccan banks’ profitability fell in 2020 due to increased provisioning and Covid-19 fund donations

The agency expects the cost of risk to remain elevated in 2021, but lower than in 2020.

Bank of Cairo announces new expansion step on the continent

Bank of Cairo is also a minority shareholder in the African Export-Import Bank, which gives it insight into the trade finance needs of Africa.

Bob Diamond’s African Bank Exits Another Market With Botswana Deal

London-listed Atlas Mara is paring back on its African foray after Diamond misjudged competition on the continent and paid too much for acquisitions.

Access Bank moves to acquire BancABC Botswana

The Nigerian bank would buy just over 78% of BancABC Botswana for an undisclosed cash amount of about 1.13 times the book value plus a two-year deferred payment.

UBA’s profitability rises 27% to N38bn in Q1’21

Gross Earnings (income) rose to N106. 65 billion in Q1’21 from N93.94 billion Q1’2020, indicating 14 per cent increase.

Co-op Bank salary advances double to Sh105bn on Covid

The lender said that 86 per cent of the cumulative e-credit or Sh105.113 billion relates to salary advances—called e-flexi— while the remainder was taken up by businesses.

Ecobank and Orabank hold 42% of Togo’s banking market share

Right behind the two giants are Banque Atlantique Togo (with CFA263 billion) and Union Togolaise de Banque (CFA262 billion).

Absa Shuts $6 Billion Mutual Fund, Sparking Spin-Off Speculation

Lender cites misunderstanding of product by clients as reason

Standard Bank cautions govt on rising debt levels

Debt-to-GDP levels rose to 76 per cent in 2020 and could well hover around those levels in 2021 should GDP growth improve as expected.

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