Managers of Wealth Africa

Wema Bank awards N145m to outstanding innovators

It said the first runner-up, Empayment AI, received N35m for its AI-powered invoice discounting platform, revolutionising how businesses manage payments.

Nigerian Banks’ Borrowing from CBN Drops by 44.9% in November Amid Liquidity Crunch

So far in 2024, the MPC members have voted to increase the interest rate from 18.75 per cent to 27.50 per cent amid its mandate

Standard Bank sees earnings jump

Banking headline earnings also grew by low-to-mid single digits in ZAR and by mid-teens on a constant currency basis period on period.

Tranglo expands remittance services to 7 African countries

Tranglo tackles this with its efficient and cost-efficient solutions, making cross-border payments simpler and more affordable.

New payment system coming to FNB, Standard Bank, Nedbank and more next week

For instance, Standard Bank South Africa is rolling out PayShap Request for Corporates.

Africanbank sees ‘green shoots’ for South Africa

The group’s interest income declined by 4% to R7.0 billion

Old Mutual Private Equity sells SA retailer with R3bn turnover to UK-based Frasers

The 88-store Holdsport Group operates across the sporting and outdoor retail, wholesale, manufacturing, distribution, and e-commerce markets.

Mastercard and New Africa Technology launch FinTech card in Senegal, Côte d’Ivoire & Benin

"This collaboration represents a major step forward in making financial services more accessible across the region,” said Birane N’dour, CEO of New Africa Technology.

Customers’ deposits in failed Heritage Bank safe – NDIC

The NDIC boss also reassured the creditors of the defunct bank, who he said will receive payments after all depositors have been fully reimbursed.

Interest rate cuts are bad news for Investec

The group’s revenue also benefitted from balance sheet growth and the elevated interest rate environment.

Access Bank Relaunches Dutch Desk to Boost Nigeria-Netherlands Trade

Also, as part of expanding opportunities for Dutch entrepreneurs, Access Bank and Invest International have signed a memorandum of understanding to relaunch a new financing facility.

Access Bank acquires majority stake in Mauritian AfrAsia Bank

Access Bank is expanding from its Nigerian base across the continent

Criminal ATM tactics making a comeback in South Africa

Discovery Bank also cautioned against the ongoing rise of money mule schemes, where individuals are recruited to open bank accounts for criminal use.

Co-op Bank Q3 Profit: Soaring Eagle Strategy Delivers Double-Digit Growth

The group reported “excellent efficiency gains” from the various initiatives to record a Cost-to-Income Ratio of 45.8% in Q32024, from 59% in FY2014 when it kicked off the growth and efficiency journey.

Ecobank wins Deutsche Bank award

Their processing of Straight Through Processing transactions is a prime example, as Ecobank achieved an STP rate above 99 per cent

Access Bank UK expands footprint with Hong Kong branch

The launch of the Hong Kong branch establishes Access Bank UK

Wema Bank wins multiple awards

The Global Retail Banking Innovation Awards celebrate institutions that are reshaping the financial services landscape through impactful innovations and customer-centric approaches.

Standard Bank partners with Volante Technologies to revolutionise payments modernisation across Africa

This enables Standard Bank to take a big step forward towards achieving their broader, long-term transformation strategy.

Ecobank teams up with Nium to enable cross-border payments across 35 African markets

Nium says that Ecobank will be able to “exchange its existing SwiftMT and ISO20022 messages” to initiate payments on the fintech’s real-time platform.

Agona Rural Bank makes giant performance in 2023 financial year

Customers’ deposits also experienced significant growth from GH¢18,132,384.00 in 2022 to against GH¢23,009,708.00 in 2023 in the year under review.