Managers of Wealth Africa

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.

Standard Bank scoops award at SME Bank Of the Year Awards 2020

Standard Bank has received global recognition for its efforts in assisting SME clients in SA

S.A’s Standard Bank eyes higher share in Angolan branch

Standard Bank is targeting a country that is ranked among the six African states

JPMorgan gives another endorsement on local banks’ prospects

US investment bank says current valuations are attractive relative to regional and emerging market peers

African Development Bank, European Investment Bank sign Joint Partnership Action Plan to fast-track development in Africa

The Joint Action Plan was developed following an EIB delegation meeting with the African Development Bank in February 2020

Mauritius and Morocco join African Development Bank (AfDB/AFMISM) Bloomberg® bond index

The African Development Bank administers the ABABI, a family of African bond indices launched in February 2015 and calculated by the independent, global index provider Bloomberg

Investment banking fees earned in Sub-Saharan Africa hits a six-year low of $523.7 million in 2020

The report stated that the energy and power sector generated the highest investment banking fees for the aforementioned period.

Sahel region: the African Development Bank pledges to mobilise $6.5 Billion in support of the Great Green Wall Initiative

The Great Green Wall’s plan is to plant an 8,000 km long and 15 km wide mosaic of trees, grasslands, vegetation and plants across the Sahara and Sahel

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