Managers of Wealth Africa

Nigerian bank reveals extra pay to Moi allies

Access Bank acquired a 99.98 percent stake of Transnational Bank on July 20 and paid Sh1.21 billion in cash at the time of closing the deal.

StanChart partners with Sanlam to launch Bancassurance products

Mr. Rughani also applauded the Bancassurance guidelines that were issued by Tanzania Insurance Regulatory Authority and the Bank of Tanzania for banks and financial institutions in 2019

Afreximbank partners with Rwanda on FDI fund

FEDA is led by chief executive Philip Kamau, an Afreximbank veteran and former senior director, who was appointed to lead the establishment of the fund two years ago.

Mthuli Ncube US$100m for Sovereign Wealth Fund

"The fund now needs to be capacitated in order to perform its functions," said Prof Ncube in the 2021 National Budget presentation.

KCB grosses $10b in assets, eyes buyouts in DRC, Ethiopia

Last year, KCB Group acquired the struggling state-owned National Bank of Kenya (NBK) and took over the good assets of Imperial Bank which was put under receivership by the Central Bank of Kenya on October 13, 2015.

Tier-one banks raise bad loans provision by Sh50bn

The total excludes I&M Bank, which is yet to report its third-quarter results, while NCBA’s total for 2020 reflects the merged entity with NIC Bank.

Centum falls into half-year loss

The performance was a stark contrast from Sh6.79 billion net profit in a similar period last year.ion.

The new normal for trade structuring in Africa

In Africa, the pandemic has also served as a reality check about food security, health infrastructure and the manufacturing deficit resulting in an excessive dependence on imports for basic necessities.

Ecobank Group Empowers Women Businesses through Ellevate, its new women-focused programme

A healthy collaboration between Government and Private sector is critical for the creation of a conducive environment in which women can thrive and succeed

AfDB approves 120 mln USD loan for Tanzania hydropower project

The government of Tanzania will provide the remaining 4.14 million dollars, the statement said.

FirstRand warns half-year profits could drop by up to 25%

As the impact of the coronavirus crisis continues to hurt its operation.

South African stocks you should be looking at: JP Morgan

While the former group has risen 14% in US dollar terms and outperformed the latter by 19% in the last three months, domestics are still down about 18% year-to-date, he said.

What makes Nigeria the dominant country in West Africa’s startup space

Techpoint Africa‘s recently-released report lends credence to this, highlighting startups in West Africa that have raised more than $1 million in the last ten years.

Put small-scale traders at the heart of efforts to accelerate trade and investment in Africa post COVID-19

The AfCFTA will not in one dramatic swoop alter existing commercial and economic realities on a vast scale, but its implementation could lead the recovery efforts from the COVID-19 crisis – Solomon Quaynor, VP African Development Bank

AfricInvest acquires minority stake in Fidelity Bank, Ghana

Fidelity offers a comprehensive range of innovative products and services in the retail and corporate space, through a steadily growing network of branches and various digital channels.

Equities sustain recovery with N224b gain

With 37 gainers to 11 losers, all sectoral indices closed positive with the exception of the NSE Oil and Gas Index, which dropped by 0.6 per cent.

Bob Diamond’s Atlas Mara to sell Rwandan and Tanzanian units

The deal is part of Atlas Mara’s strategy of paring back on its African foray after Diamond misjudged competition in Africa and paid too much for acquisitions

IFC mulls over $150mln loans to Absa Bank for green projects

The financial institution has already expressed its intention to further develop its climate finance activities over the next few years.

Moroccan Aradei Capital gets approval for an IPO

Aradei Capital plans to reorganize its shareholding by the end of this operation.

South Africa needs to contain rising debt, says Mboweni

Finance Minister Tito Mboweni has attributed the country’s debit crisis to the public sector wage bill and government’s pattern of expenditure

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