Managers of Wealth Africa

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

First Ever Crisis Response Budget Support Of R5 Billion To South Africa Approved By African Development Bank To Fight COVID-19

The operation is designed as a Crisis Response Budget Support Operation prepared following a request from the government of South Africa.

Euromoney Awards for Excellence: Best Bank in Mauritius

Seven in a row for Mauritius Commercial Bank (MCB)

Co-op to pump more capital into Jamii Bora after buyout

Their concerns follow Jamii Bora’s multi-year losses that have eroded its capital base, prompting it to search for a rescue buyer.

Nigerian lender Access finalises Transnational buyout in Sh1.4bn deal

Access Bank is listed on Nigerian Stock Exchange since 1998 and is the largest lender in West African country with assets worth Sh1.17 trillion.

Nigeria: Former Diamond Bank CEO introduces new digital banking platform

Sparkle, a smartphone enabled platform, offers many traditional banking products – providing loans, enabling savings, shopping transactions, paying bills, buying airtime, and sending money to third parties.

Ghanaian banks rated ‘above average’ and score better than those in the UK, US News Ghana

The bank quality rating system on which the database is anchored uses a heuristic methodology to analyse the signals that banks are sending out in their annual reports

South Africa’s banking sector is dominated by 5 names – who control almost 90% of all assets

Total banking sector assets grew by 16.36% year on year, to R6.6 trillion at the end of March 2020 (March 2019: R5.7 trillion).

CEO of Ghana Bankers Association, Daniel Ato Kwamina Mensah is dead

The Ghana Bankers Association recently announced that he was set to retire this year after years of service with the Association.

Co-op Bank acquisition triggers Jamii Bora row

Mr Kabiru responded to the shareholders on June 30 saying that Jamii Bora was not obliged to provide most of the information requested.

Heritage Bank upgrades HB ‘Padie’ Mobile App for easy access to banking services

HB ‘Padie’ 2.0 combines digital transactions and community lifestyle payments that empower customers with the power to build their world and perform digital transactions how they want.

Nigerian banks to limit debit card spending abroad to ease FX risk

Other lenders — Ecobank and Fidelity Bank — have also lowered withdrawal limits for individuals while abroad.

FNB will no longer email bank statements – Here is what other banks are doing

As part of our ongoing measures, FNB will minimise the distribution of monthly statements via post and email.

AfDB to provide $400 million of $16 billion in largest private investment in Africa

When the project is completed total expects Mozambique to earn up to $50 billion in Natural gas

Ecobank Group Named Africa's Best Bank for Corporate Responsibility by Euromoney

Ecobank's Corporate Responsibility primarily concentrates on the three key areas of health, education and financial inclusion.

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