Managers of Wealth Africa

FBN Holdings Records 56% Growth in Half-year Profit to N49.5bn

Despite the difficult operating environment, the H1 results demonstrate our resilience and capacity to deliver on long-term ambitions.

South Africa's Standard Bank warns of up to 50% profit slump

Africa's biggest bank by assets said in a trading update the hit to its headline earnings per share

Standard Bank Bets Big on Africa’s Largest FDI Project

Total estimates that the facility will generate about $50 billion of revenue for the government of Mozambique over 25 years.

Covid-19 triggers decline in agent banking

Between January and March, agent banking recorded 7 million transactions, but this number dropped between April and June to only 5 million transactions.

Absa wins the Euromoney 2020 Excellence in Leadership in Africa award

Absa prioritised the safety and wellbeing of its employees as a first response to Covid-19

TymeBank reaches new high, adds fast mode of transaction

The business mogul is an anchor shareholder of the bank via African Rainbow Capital, a black economic empowerment investment holding company, in which he is the majority shareholder.

Gulf African Bank Managing Director Abdalla Abdulkhalik on weathering pandemic

CBK has been very supportive, and I think this has strengthened banks' capacity to win back the confidence of their customers.

Uganda: African Development Fund approves $31.6 million loan for COVID-19 response

The objective of the operation is to support Uganda’s efforts to contain the human cost of COVID-19, mitigate its social and economic impact, and support economic recovery

Afreximbank steps up project preps

Dr Mangudya said construction of the offices in Harare was a huge vote of confidence in Zimbabwe.

Banks to lend less to private sector, says KCB

The business environment remains fragile, evidenced by the gross non-performing loans ratio.

Stanbic Bank scoops award at Euromoney event

The award makes it their second win with the Global Institution.

Somalia: African Development Bank grants of $25 million will bolster budget for COVID-19 responses

The funding comes under the umbrella of the Bank’s COVID-19 Response Facility

FBNBank Ghana scaling up agent banking

The Managing Director of FBNBank Ghana, Victor Yaw Asante announced that its network of agents will present a convenient and comfortable alternative for customers that require simple and easy to use digital channels.

Standard Chartered Bank Explains Support to Fight against COVID-19

The phase 2 will see the donation of $25 million supporting economic recovery and protecting livelihoods. It is intended to address the impacts which go far beyond the need for emergency relief.

Covid-19 spurs domestic bank M&A in Africa

The coronavirus pandemic is intensifying the case for domestic bank M&A in Africa, but cross-border deals will be challenging to execute.

Orient Bank sale will ensure growth – Management

I&M Holdings is part of I&M group which comprises of banking entities in Kenya, Tanzania, Mauritius, and Rwanda.

Equity Bank gets Ksh 5b IFC loan to support SMEs

“IFC’s loan, part of our business continuity management plan, will help Equity Bank extend much-needed support to our clients, particularly to SMEs in sectors hit hard by COVID-19.“

Banks shun seized asset auctions on low bid prices

Sluggish economic activity, which has worsened in the wake of Covid-19, has created a growing pool of distressed borrowers whose assets are being seized by newly aggressive lenders.

A Cashless Economy: Forms And Major Benefits

This is good for the economy, as it will improve productivity and facilitate a reduction in some of the longstanding inequities of a geographical nature within the population.

South Africa: African Development Bank approves first ever crisis response budget support of R5 billion to fight COVID-19

South Africa confirmed its first case of COVID-19 on 5 March 2020 and is currently the most affected in Africa, and among the top five in the world in terms of confirmed cases

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