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Revolut has appointed banking veteran Gaby Magomola and applied for a South African banking licence, signalling a shift from payments to regulated digital banking.
Nigeria’s headline inflation rate fell for the seventh consecutive month in October 2025, dropping to 16.05%, according to the Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS).
The surge comes amid mounting economic pressures and social instability, challenging the country’s long-standing reputation as one of Africa’s most peaceful and stable economies.
he move makes JPMorgan the first US bank to re-enter the Angolan market since major international lenders withdrew in the mid-2010s over compliance concerns.
The Federal Government of Nigeria has suspended the planned implementation of a 15% import duty on petrol and diesel — a policy earlier approved by President Bola Tinubu to promote domestic refining
Aliko Dangote, the chairman of the Dangote Industries Limited, has signed an agreement with the government of Zimbabwe to invest up to $1 billion in the country’s energy and cement sector.
Nigerian business mogul Tony Elumelu has pledged a $1 billion (KSh129 billion) investment in Kenya’s key sectors, including energy, food security, and transport infrastructure.
The Bank of Zambia has reduced its key lending rate for the first time in over five years, citing slowing inflation in Africa’s second-largest copper and cobalt producer.
Data released Monday by the country’s statistics agency, CAPMAS, showed that inflation climbed to 12.5% in October 2025 from 11.7% in September — marking the first acceleration since May.
While the IMF acknowledges that currency swaps can ease short-term fiscal pressure, it warned that such arrangements can expose countries to new forms of volatility.
The decision comes three days after S&P Global Ratings upgraded the country’s sovereign rating outlook to “positive” from “stable,” citing stronger growth prospects and rising per capita income.
The upgrade reflects Uganda’s stronger growth momentum relative to peers and expectations that major oil developments will begin to come onstream by late 2026.
Egypt and Germany have signed a €50 million ($54 million) debt swap agreement to fund grid connection projects for two wind power stations, representing their cooperation on Egypt’s renewable energy expansion.
Yinson Production, the offshore unit of Yinson Holdings, said it plans to expand its operations into Namibia as well as an initial public offering within the next three to five years.
Olu Verheijen has said the government expects two major final investment decisions (FDI) over the next year as the country’s oil and gas industry continues to witness significant investor interests.
The survey, which reflects the views of 130 CEOs across Southern, East, and West Africa, shows that 26% intend to allocate more than 20% of their annual budgets to AI adoption. This is nearly double the global average of 14%.
Nigeria’s latest Eurobond issuance could keep the country’s external debt-to-total debt ratio slightly above the Debt Management Office (DMO) threshold of 45% by year-end, according to analysts at CSL Research.
This marks an increase of 192% from the same period in 2024, driven primarily by a narrower loss in its Ethiopian operations and sustained growth in mobile money and data services.
East African country, Mozambique, has started producing its first locally made liquefied petroleum gas (LPG), popularly known as cooking gas.
Nigeria’s state-owned energy company NNPC Limited said it is working towards increasing its stake in the Dangote Petroleum Refinery to 20% from the current 7.2%.
