Capitec Tops List of Most Complained-About Banks in South Africa

Capitec Tops List of Most Complained-About Banks in South Africa

Capitec Tops List of Most Complained-About Banks in South Africa – Capitec, one of South Africa’s prominent banks, has recently been labeled the most complained-about bank in the country by the Ombudsman for Banking Services (OBS). According to OBS, Capitec experienced a significant surge in customer complaints during 2022, with a notable increase of 11%. … Read more

Capitec CEO Earned R62 Million in 2022/23 Financial Year

Capitec CEO

Stellenbosch – Capitec, South Africa’s second-largest retail bank, has released its annual remuneration report, revealing the significant earnings of its CEO, Gerrie Fourie. According to the report, Fourie earned an impressive R62 million during the 2022/23 financial year, equivalent to R170,109 per day. Although Fourie’s payday was substantial, his earnings represented a 33% decrease from … Read more

Forex Scarcity in Nigeria: Dollar Inflows Drop, Threatening Second Quarter of 2023

Forex Scarcity in Nigeria: Dollar Inflows Drop, Threatening Second Quarter of 2023. The Nigerian economy is grappling with a severe shortage of foreign

Forex Scarcity in Nigeria: Dollar Inflows Drop, Threatening Second Quarter of 2023. The Nigerian economy is grappling with a severe shortage of foreign exchange as dollar inflows have significantly declined in recent months. According to the Central Bank of Nigeria’s quarterly bulletin for the fourth quarter of 2022, this scarcity is primarily attributed to various … Read more

Walmart Sees Increased Market Share in US Grocery Amid Inflationary Period

Strong Sales Growth and Higher Income Shoppers Contribute to Walmart’s Success Walmart, the renowned US retail giant, has raised its full-year profit forecast following impressive sales growth in the United States, driven primarily by increased demand for grocery and essential household items. The company’s ability to maintain competitive prices through economies of scale has positioned … Read more

Access Bank Director Buys Two Million Unit Shares Worth N20m

Access Bank Director Buys Two Million Unit Shares Worth N20m

Okey Nwuke, Director of Access Bank Plc, has purchased two million units of the bank’s shares, indicating confidence in its growth. The transaction, valued at over N20 million, took place on May 16, 2023, and was reported on the Nigerian Exchange. Director of Access Bank Shows Confidence by Acquiring Bank’s Shares Okey Nwuke, a Director … Read more

CBN Proposes ATM Loan Disbursement to Boost Credit Access

CBN Proposes ATM Loan Disbursement to Boost Credit Access

CBN Proposes ATM Loan Disbursement to Boost Credit Access The Central Bank of Nigeria (CBN) has suggested that banks upgrade their ATMs to offer loan services in addition to cash withdrawals. CBN wants the ATM upgrade to be implemented by 2025 to improve credit access. Central Bank of Nigeria Proposes Upgrading ATMs to Provide Loans, … Read more

Former SVB Head Criticised in US Senate Bank Failure Hearing

Former SVB Head Criticised in US Senate Bank Failure Hearing

Former SVB Head Criticised in US Senate Bank Failure Hearing: Former Silicon Valley Bank (SVB) CEO, Gregory Becker, along with former executives from Signature Bank, Scott Shay and Eric Howell, testified before the Senate Banking Committee on Tuesday, drawing outrage from senators over the collapse of their respective banks, questionable risk management practices, and excessive … Read more

CBN Launches SabiMoni to Drive Financial Literacy and Inclusion in Nigeria

CBN Launches SabiMoni to Drive Financial Literacy and Inclusion in Nigeria

The Central Bank of Nigeria (CBN) has launched SabiMoni, a new financial inclusion platform aimed at promoting financial literacy and inclusion in the country. CBN Governor, Godwin Emefiele, announced the launch and expressed the bank’s commitment to achieving a 95% financial inclusion target by 2024. SabiMoni is expected to have a significant impact on increasing … Read more