Managers of Wealth Africa

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.

Fidelity Bank Plc posts N7.63 billion Profit in Q4, 2020

Fidelity Bank has reported a decline in its PAT for Q4 2020 by 18.6% Y-o-Y.

Ecobank Group Posts N630bn Revenue in 2020

The bank also recorded improved performance in other key financial indices despite the harsh operating environment with deposits from customers went up 23 per cent to N7.3 trillion from N5.9 trillion; loans and advances to customers grew by nine per cent

Nedbank offers contactless service to collect bank card

The Nedbank lockers were originally conceptualised as a solution to the issues that have plagued traditional card deliveries and collections over the years.

Union Bank’s principal owner ‘considering sale of 50% stake’

Atlas Mara has received offers from local banks wishing to buy over Union Bank.

Polaris Introduces Business Loan for SMEs

To apply, existing and new customers of the bank should visit any Polaris Bank branch to complete the loan application process

Mobile money overpowers card payments in Kenya

On the other hand, the value of mobile money payments increased by 44.5% to USD 4.83 billion from USD 3.34 billion in the same period.

Nigeria’s Biggest Bank Picks Eight Countries for Expansion

The bank already operates in 12 countries following a series of acquisitions spanning from Kenya to its home market.

Nigeria's biggest bank wants a Namibian share

The bank currently operates in 12 countries following a series of acquisitions ranging from Kenya to its home market, Nigeria.

Leveraging data and analytics to improve customer engagement in Kenya’s financial services industry

East African banks are responding to this by employing new data-driven personalisation strategies, allowing them to combine customisation and context.

Kenya's Co-op Bank gets $75m for lending to MSMEs

The seven-year loan will be benefit MSMEs undertaking climate-smart projects including agricultural inputs and sustainable agricultural practices, as well as those in renewable energy.

Standard Chartered Nigeria Plc crashes ‘personal loans’ interest rate to 1% monthly

The Bank crashed its interest rate to one of the lowest in Nigeria’s lending space.

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