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The sector’s strong performance was also reflected in its balance sheets as total assets rose by 7.1%—driven largely by growth in short-term securities and net loans and advances.
The anticipated investments, expected over the next two years, will bring Egypt’s total FDI from Kuwait to $27 billion.
While high-yield certificates had played a crucial role in stabilising Egypt’s monetary environment, the recent drop in inflationary pressures has prompted a policy shift towards lower rates and more growth-focused measures.
The reversal follows weeks of tension between the African National Congress (ANC) and its main coalition partner, the Democratic Alliance (DA), which opposed the VAT hike both in parliament and in court.
The Central Bank of Kenya is moving to replace its risk-based lending model with a benchmark-based system anchored to the central bank rate, aiming to improve transparency and rate transmission.
Notably, digital banking charges made up the largest portion of earnings from fees and commissions for most of the reviewed banks.
The new agreement lays the groundwork for strong regional ties—one that could help cushion the continent from the ripple effects of the intensifying trade tensions between the world’s largest economies.
So far, the copper-rich nation has reached final agreements with France and Saudi Arabia, but deals with other key creditors — including its largest, China — remain unresolved.
Morocco is set to begin the tendering process for Phase 1 of its liquefied natural gas (LNG) terminal project near the eastern Mediterranean city of Nador
The new focus aligns with recent calls by the World Bank for Botswana to urgently diversify its economy, unlocking sustainable growth opportunities.
British energy giant BP has announced the successful loading of the first liquefied natural gas (LNG) export cargo from the Greater Tortue Ahmeyim (GTA) offshore project, located on the maritime border between Senegal and Mauritania.
Last year, electronic payment transactions soared to a record $702.6 billion, crossing the quadrillion threshold in naira and surpassing the 2023 figure by a whopping 79.6%.
The economic growth is fuelled by a rebound in tourism and construction activities, easing inflation and a declining debt burden.
The latest figures mark a turnaround in Egypt’s FDI – which stood at $10 billion in 2023 – driven by growing investor confidence, improving macroeconomic indicators, and an aggressive push for private-sector-led growth.
Egypt’s strong performance in the last fiscal year suggests growing investor confidence and capacity to meet its hefty debt obligations.
The Washington-based lender noted that despite recent fiscal slippages, bold corrective steps by the new administration have kept programme goals within reach, buoyed by strong export earnings, rising reserves and renewed commitments to fiscal discipline.
The country’s new gold regulator has also suspended the trading licences of all foreign traders, effective immediately, as it moves to centralise control of artisanal gold exports.
The fund’s latest move aligns with it’s broader goal of protecting the purchasing power of Namibian annuitants amid economic changes.
The minister’s release comes just days after the island nation’s former central bank governor Harvesh Seegolam, who was also implicated in the fraud scandal, was granted bail.
The move, which is expected to deepen Access Bank’s footprint in East Africa’s financial space, comes nearly a year after the lender first declared interest in the acquisition.
