Managers of Wealth Africa

Diamond Trust bank issues profit warning on bad loans

The Board and management remain confident in DTB’s long-term strategy that should result in improved future performance

CRB listing starts today as 90-day freeze lapses

The CBK announced the suspension of CRB listing for loans that were defaulted after April 1,

Emirates NBD named ‘Bank of the Year – UAE 2020’ and ‘Bank of the Year – Middle East 2020’

As a leading bank serving millions of customers across the MENAT region, Emirates NBD has undertaken a comprehensive and proactive plan to protect the financial security and economic well-being of its people, customers and the community.

Equity Bank Congo To Merge With Banque Commerciale Du Congo

The combined outfit will become Equity Banque Commercial du Congo (Equity BCDC) and comes after the lender completed the acquisition of 66.53 percent stake in BCDC last August for $95 million (Sh10.37 billion).

Banks Attract N37tn Deposits Despite COVID-19 Disruptions

The growth was attributed majorly to the deployment of technology as well as banks’ aggressive marketing of their alternative banking channels.

Mwalimu Sacco announces full acquisition of Spire Bank

Mwalimu Sacco announces full acquisition of Spire Bank GRACE MATHEKADECEMBER 29, 2020 1 MIN READ 0 SHARES 00 Mwalimu National SACCO has announced its full acquisition of Spire Bank from businessman Naushad Merali of Sameer Group, for an undisclosed amo

Rwanda leads region with profits for Kenyan banks

CBA Rwanda, the only loss-making subsidiary in Rwanda, reported a loss of Ksh187.77 million ($1.7 million) compared with Ksh291.42 million ($2.64 million) reported in 2018.

Equity Group crosses the $10b balance sheet mark

Mwangi said BCDC brings to the Group 112 years of corporate banking experience and will be instrumental in strengthening Equity’s supreme banking experience.

Kenya: Banks Set to Step Up Loan Recovery As Defaults Mount

"The banks intend to allocate more resources on monitoring and recovery of loans as well as use of external parties in the recovery process," it added.

Gulf Bank to pay Sh2m for discrimination

His lawyer Yussuf Bashir argued that there was no justification for closing his account as he was not among the entities listed in the US Department of Treasury’s Office of Foreign Assets Control Sanctions list.

ABSA Issues A Profit Warning For The 2020 Financial Year

For the financial year 2019, Absa Bank Kenya reported a normalized Sh8.5 billion profit after tax on the back of higher operating income.

Rwanda Leads Region With Profits for Kenyan Banks

The performance of Tanzania subsidiaries was attributed to low business due to competition in a market dominated by established local players.

Bank consolidations, slow profits and high loan defaults

Co-operative Bank on other hand reported a marginal 0.2 per cent reduction in profit after tax to Sh3.58 billion down from the Sh3.59 billion posted the previous year.

Access Bank: Breakout growth in Q3 brightens outlook

A breakout growth in earnings for Access Bank in the third quarter powered a 55 percent advance in prot quarter-on-quarter — the bank’s best quarterly record by the end of September 2020

TymeBank’s top 12 tips for protecting your money from criminals

Nefarious activity targeting bank accounts seems to increase over the festive season.

Uganda: Equity Makes History, Hits Trillion-Shilling Balance Sheet

The Group has banking subsidiaries in Kenya, Rwanda, Uganda, South Sudan, Tanzania, and DRC and a representative office in Ethiopia.

CBC charting an integrated digital common payment policy for MSMEs within COMESA

The outcomes of the meeting will underpin the development of a business model and infrastructure for a low-cost retail digital payment scheme for MSMEs within COMESA region.

Equity assets hit Sh1 trillion mark

“Equity banking subsidiaries will now be in a position to leverage the Group’s strength to extend large corporate loans across all the countries where Equity operates.”

Equity Group crosses Sh1 trillion mark in value

Equity will leverage the corporate banking history and experience of 112 years by BCDC to strengthen its corporate banking value proposition.

Ecobank Group taps into Africa’s leading Fintechs to launch an eCommerce solution for SME businesses

It also follows months of engagement with MSME customers since the onset of the Covid-19 pandemic where one of the biggest challenges they raised was inability to access markets and sell their products.

Retail Banking