Managers of Wealth Africa

Africa’s best investment bank 2021: Standard Bank

Global banks remain strong competitors to local and regional firms like Standard Bank in the international debt capital markets and in big M&A deals.

Africa’s best bank for transaction services 2021: Citi

The business this year ranged from structuring supply chain finance for Safaricom in Kenya, to providing trade finance to cotton farmers in Togo and helping automate annuity payments by Sanlam Life Insurance.

Deutsche Bank finances critical health and transportation infrastructure in Ghana

The 203 million euro financing agreements, which benefit from 95 percent insurance cover by the African Trade Insurance agency ("ATI"), will fund four health and two transportation projects in Ghana

StanChart Q1 net profit up 19pc to Sh2.4bn

Non-interest income rose 11 per cent to Sh2.48 billion to make up for the reduced net interest income.

De-risking the World's Future Growth Engine: African Trade Insurance (ATI) joins The Canada-Africa Chamber of Business

ATI has a good market position in Africa, based on the scale of its underwriting penetration and benefits from significant local expertise and understanding in a number of African countries.

South African banks set for low returns, but may see impairment reversals

FirstRand's NPL ratio rose 109 basis points in 2020 to 5.04%, while Nedbank's surged 189 basis points over the same period.

FirstRand becomes second global bank after Citigroup to exit India

FirstRand which has $118 billion in assets, became the second global bank to exit India just within a week of Citigroup's decision.

After Citigroup, South Africa's FirstRand Bank to exit India after 12 years

First Rand India is a licensed financial services provider in India and operates as a "branch" of FirstRand Bank South Africa.

Top African Bank FirstRand Cuts Presence in India But Won’t Exit

“This has been a key enabler to FirstRand’s investment banking business’s strategy to grow its offerings on the broader African continent, but which only requires a representative office to execute.”

Severe drop in fees generated in sub-Saharan region, data shows

The value of M&A transactions with any sub-Saharan African company involvement reached $6.1bn, almost level with the same period in 2020, and a five-year low.

Deutsche Bank bolsters European Spac expertise ahead of expected boom

The bank has been hiring for junior and mid-ranking talent to support Michele Cohen, its head of special purpose acquisition company origination in Emea

World’s Best Investment Banks 2021: M&A

Last spring’s seize-up in the global M&A market eased as companies rethought their business plans and sought a leaner profile.

World’s Best Investment Banks 2021: Global Winners

Despite Covid-19, 2020 was a banner year for investment banking, with IPOs and bond issues standing out.

FirstBank Disburses N58bn to 81,000 Female-owned Businesses

“In 2020, we gave out loans of NGN 58 billion to over 81,000 female entrepreneurs and professionals.”

StanChart staff costs increase by Sh540m on retrenchment

Those retrenched were offered a one month’s salary in lieu of notice, severance pay at the rate of one-and-a-half months per year of service and pay for accrued leave days at the time of termination.

Sterling Bank’s customers get 20% holiday discount

“We introduced the discount initiative post-COVID-19 lockdown to stimulate the domestic tourism sector."

Global Finance Names AfDB As the World’s Best Multilateral Financial Institution

Global Finance awards are a valuable guide.

United Capital Grows Profit by 61% to N7.9bn, to Pay N4.2bn Dividend

United Capital Plc’s total assets grew by 48 per cent to N224.75 billion in 2020 from N150.46 billion in 2019

Standard Bank gets more time to buy Stanbic shares

It is targeting to grow its holding to 75 percent and has received regulatory exemption from making a full takeover offer to Stanbic Holdings’ minority investors.

Standard Bank gets more time to buy Stanbic shares

Standard Bank has been buying the shares in the open market through its investment vehicle Stanbic Africa Holdings Limited.

Investment Banking