Standard Chartered has successfully transferred its Wealth and Retail Business in Tanzania to Access Bank PLC, marking the final step in its global strategy to streamline operations, announced in April 2022. The move allows the bank to exit the retail…
TAJBank, Nigeria’s leading non-interest lender, has secured regulatory approval for a N20 billion ($12.9 million) Mudarabah Sukuk bond, the second tranche of its N100 billion Sukuk programme. The bond, offering a 20.5% annual return, aims to provide investors with an…
Tony Elumelu, chairman of the United Bank for Africa (UBA), has significantly increased his stake in the financial institution by acquiring shares worth N43.9 billion ($27.7 million) over two days, a regulatory filing revealed on Monday. According to Bili Odum,…
United Capital Group, Nigeria’s premier investment banking and financial services institution, has officially launched United Capital Asset Management West Africa Limited (UCAMWAL) in Abidjan, Côte d’Ivoire, a landmark step in its Pan-African expansion. This move establishes United Capital as the…
Access Bank has officially finalized the acquisition of the National Bank of Kenya (NBK) from KCB Group, marking a strategic milestone in the Nigerian lender’s expansion into the Kenyan financial sector. The acquisition received all necessary regulatory approvals and will…
The African Export-Import Bank (Afreximbank), through its development impact investment arm, the Fund for Export-Development in Africa (FEDA), has launched a $1 billion Africa Film Fund to boost the continent’s film and creative industry. The announcement was made in a…
Ecobank Group has reported a record profit before tax of $658 million for the full year ended December 31, 2024, representing a 33% increase at constant currency, according to its audited financial results released today. The pan-African banking giant also…
Equity Group founder, Peter Munga, has made a strong return to the lender’s shareholder register, purchasing 3.64 million shares worth Sh166.2 million (over $1.2m) in the first quarter of 2025. This marks a reversal of the longstanding trend of original…
Standard Bank Group has announced a major leadership reshuffle, with Group CEO Sim Tshabalala stepping in as the Interim CEO of Standard Bank South Africa. The appointment is subject to regulatory approval, and Tshabalala will hold dual roles as head…
Standard Bank’s top executives received significant pay increases, with CEO Sim Tshabalala’s remuneration rising to R89.2 million from R83.3 million in 2023. The bank reported a modest 4% increase in headline earnings, reaching R44.5 billion, with headline earnings per share…
