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The NBE’s latest directive reinforces Ethiopia’s commitment to liberalise its tightly controlled financial sector and sends a strong signal to global investors that the country is now serious about attracting long-term capital, technology, and expertise into its banking industry.
Fidelity Bank Plc, one of Nigeria’s major commercial banks, has promoted 376 employees — representing 12% of its workforce — following a strong financial year that saw it deliver the highest profit growth in the country’s banking sector. In a statement on Thursday, the bank also announced a 20% salary increase across the board, marking…
The Lusophone African nation’s latest equity injection brings its total investment in the regional financier to over $200 million, including the $25 million contribution made earlier this year by the Fundo Soberano de Angola, the country’s sovereign wealth fund.
While the deal marks a major step towards stabilising the economy, the West African country still faces a tough road ahead as it seeks to persuade private lenders to rework their share of the debt.
The directive is part of the government’s broader financial sector reform campaign aimed at deepening financial inclusion, expanding the tax base through improved payment traceability, and enabling long-term economic growth.
The sharp rise in debt costs coincides with a 71.5% drop in external grant in Q1 2025, reflecting growing difficulties in attracting budget support from international partners.
According to the Treasury, the loan comes with favourable interest rates and flexible repayment terms, which will help to contain rising debt service costs, projected to hit $24 billion by the end of 2026.
The latest acquisition has raised questions about its timing, as it comes shortly after the Central Bank of Nigeria (CBN) barred banks under regulatory forbearance — including Access Bank — from investing in foreign subsidiaries.
The Gulf African Bank deal is the latest in a string of mergers and acquisitions in Kenya’s banking sector.
With the exchange still in its infancy, each new listing plays a critical role in testing the market’s infrastructure and building investor confidence—steps that Ethiopia’s economic reform agenda increasingly depends on.
Mali, backed by Russian Yadran Group has broken ground on a 200-ton gold refinery outside Bamako, aims to plug $500 million annual revenue leak.
The move comes just days after the European Commission listed the country among high-risk jurisdictions for failing to adequately combat money laundering and terrorist financing.
The lender’s swift clarification comes after its shares tumbled nearly 8% in two days, following the CBN’s directive instructing banks with forbearance exposure to suspend dividend payments.
Fitch has raised Ghana’s credit rating to “B-” from default, citing progress in debt restructuring, easing inflation, and external account surpluses.
The global investment bank says Fitch’s recent downgrade has pushed the yields on Afreximbank’s 2029 and 2031 bonds above peers, making them attractive despite restructuring risks.
The report is the latest to spotlight the unintended fallout of the CBN’s aggressive monetary tightening, with the 50% CRR—the world’s highest—severely restricting banks’ ability to lend and generate income from deposits
For now, inflation appears to be cooling. But how long that relief lasts will depend on how energy markets respond to geopolitical risks—and how much of those costs are passed on to Nigerian consumers, experts say.
Dangote Petroleum Refinery is set to commence nationwide distribution of petrol and diesel from August 15, 2025, a move to reshape Nigeria’s fuel supply chain.
By opening up its mining sector, the OPEC country is betting that foreign capital and technical expertise can help unlock the country’s underutilised mineral wealth—strengthening its fiscal position while reducing exposure to energy market shocks.
Access Bank has officially taken over the operations of Standard Chartered Bank in The Gambia, concluding a transaction that marks the end of Standard Chartered’s 130-year presence in the country. The Central Bank of The Gambia confirmed on Thursday, 13 June 2025, that Standard Chartered’s banking licence had been voluntarily relinquished, following the full transfer…
