Managers of Wealth Africa

Absa sees Nigeria expansion plan ready for second half

Absa has a representative office and securities licence in Nigeria, but needs to up the ante in one of Africa’s most promising banking markets in order to meet its ambitions.

Banks’ Impairment Charges Drop Further as Loan Repayment Improves

The provisions for loan losses by commercial banks in the country have continued to drop, thereby raising hopes of higher returns on investments for shareholders, THISDAY has learnt.

European Investment Bank invests in Africa Industrialization Fund to support growth capital investments

The fund seeks to contribute to the development of the private sector in North Africa by increasing access to capital for local SMEs and mid-market companies.

Standard Bank Namibia not to follow SA on branch closures

In a recent statement the South African bank noted that the actual number of employees who will ultimately exit the employ of Standard Bank SA could be lower, as new opportunities will become available in the new operating model.

UPDATE 1-South Africa's Capitec Bank FY profit jumps on strong client growth

Launched in 2001 as a micro-lending business, Capitec is positioning itself as a full-fledged bank with no-frills account, savings and insurance and credit card products to cut its reliance on unsecured loans, which rely solely on a customer’s promi

BNY Mellon Debuts Service to Evaluate Environmental, Social and Governance Factors in Investment Performance

BNY Mellon clients will have the ability to view their total ESG and UNGC scores on equities at the account level versus relevant benchmarks over time.

Barclays Kenya profits suggest wider gains in banking sector

The lender’s response to the rate cap included launching Timiza, a mobile lending app, and hiring a chief data officer.

AfDB pledges USD25 billion to mitigate climate change effects

The Bank will continue this trend into the future.

The African Development Bank pledges US$ 25 billion to climate finance for 2020-2025

The Bank’s commitment on the target, the highest among all multilateral development banks, has progressed steadily from 9% in 2016 to 28% in 2017 and 32% in 2018.

Jobs in jeopardy due to changes in the S. African banking sector

Speculation is rife that the restructuring might affect over 800 employees.

Standard Bank to shut 91 branches as customers go digital

Standard Bank’s South African unit “will implement a comprehensive exit package which significantly exceeds the requirements as set out in the Labour Relations Act”, the lender said.

South Africa's Absa bank full-year earnings dip

HEPS is the main profit measure in South Africa

Absa lifts dividend in a year of change for the bank

The lender also gained market share in deposits which grew by 11% with strong growth in fixed and notice deposits.

How UBA UK will serve trade, capital needs of African customers

UBA UK was formerly introduced to business leaders across Europe and Africa with a commitment from the UBA Group of its readiness to galvanise trade and commerce between Europe and Africa.

S.Africa's Standard Bank posts leaner FY earnings growth

The bank had delivered sustainable earnings and improved its return on equity to 18 percent, underpinned by the strength and breadth of its franchise, Standard Bank CEO Sim Tshabalala said.

Databank Boss educates clients on investment banking

Attendees of the programme were elated as most of the questions on their minds with regards to the financial sector was answered by the CEO.

Nedbank headline earnings up 14.5%

Nedbank, which employs 31,277 people, said it increased its retail main-banked clients by 7%, giving it a market share up to 13.1%.

Rest of Africa drives Nedbank earnings growth of 14 pct

Earnings at the bank’s South African retail operations rose 1.5 percent

Ghana Needs a Vigorous Investment Banking Industry

He advised the public to seek investment advice from experts before jumping to invest

Absa unit acquires sister company’s life insurance business

The move to acquire the portfolio comes close to four years after Barclays Africa, now Absa Group, bought a controlling stake in First Assurance for about Sh2.9 billion as the Johannesburg-based lender sought to gain a foothold in Kenya’s insurance