Managers of Wealth Africa

Bank dollar deposits up by record Sh129 billion

Kenya’s wealthy also tend to boost the value of their money in dollars when anticipating rough economic tides like now due to the effects of the coronavirus pandemic.

Banks and telcos must partner for greater financial inclusion

As a result, banking today is radically different from what it was at the turn of the millennium, making it a lot more convenient thanks to innovative platforms such as M-Pesa by Safaricom.

Africa’s most politically powerful bankers: Hott, Kooli and Ofori-Atta

It seems like more bankers are getting into politics in Africa.

Customers using Absa branches fall by 40pc

In 2017, the Absa Bank had instituted a massive restructuring that saw seven branches closed including two main banks in Nairobi CBD.

Two South African banks recognised among best in world

The industry has seen a dramatic downturn in the past two years when compared with previous year-on-year performance.

Standard Bank keen to raise Angolan stake after partner jailed

Angola is among the top six contributors to Standard Bank’s earnings from operations on the continent outside of South Africa.

Kenyan Banks Seen Facing More Bad-Loan Woes Than Nigerian Peers

Banks in Kenya are more exposed to small- and medium-sized companies as well as retail businesses

Two South African banks included on list of top banks in the world

Do you bank with either of the two banks on the international list?

Chinese financial services solidifies partnership with local bank

The objective of Post Bank Uganda with this is to deepen financial accessibility in the most affordable way possible, thanks to products such as UnionPay post card which allows the bank dream to take shape.

Ecobank to Raise $300m from International Debt Market

The group disclosed that the Central Bank of Nigeria has confirmed that it has no objection to the transaction, adding that the transaction is subject to prevailing market conditions and the conclusion of the necessary documentation.

Wema Bank Introduces ‘945’ Promo

The bank said its two-week long love campaign on social media had been , slated for February 5th to 18th, 2021

Rich Kenyans triple dollar deposits in pandemic era

The huge dollar deposits in the midst of economic turmoil show that businesses and wealthy Kenyans sought a safe haven for their wealth in the wake of uncertainty.

M-Pesa revenues recover after charges reinstated

Kenya and other markets also allowed M-Pesa charges to resume in January, brightening the outlook for the financial platform’s revenue growth.

Access Bank Partners American Express to Expand Card Acceptance

This new partnership is expected to broaden the acceptance of American Express payments via Access Bank as well as Access Bank ATMs and ecommerce websites nationwide.

Fitch: Ecobank Has Stable Outlook

Fitch Rating reported that the VR benefits from ENG’s company profile strengths of being part of the leading pan-African Ecobank group.

Zenith Bank Emerges Nigeria's Most Valuable Banking Brand

The ranking was published in the February 2021 edition of The Banker Magazine of the Financial Times Group in conjunction with London-based Brand Finance.

KCB offers recovery loans for small enterprises

Only businesses that have been running accounts with the bank for at least six months are eligible.

Access Bank sets eyes on Angola, Namibia

Other markets of interest to the bank are Algeria, Cote d’Ivoire, Egypt, Ethiopia, Morocco and Senegal.

KCB seeks approval to buy two banks in TZ, Rwanda

The lender, which already has presence in the two markets, signed a share purchase agreement with London-based Atlas Mara Limited and gave itself a six-month timeline to complete the deal.

Banks’ profit hits 8-year low on Covid disruptions

The weaker performance came in the period of slowed economic activities and increased debt defaults as Kenya imposed strict measures to control the spread of Covid-19.

Retail Banking