Africa’s largest recent banking recapitalisation cycle has concluded.

In Nigeria, 33 banks raised ₦4.65 trillion (~$3.38 billion) by the March 2026 deadline, with listed bank market capitalisation more than doubling over the period.

At the same time, credit risk is rising:

• Impaired loan ratios have moved above regulatory thresholds in key markets (latest confirmed 2025 data to be updated pre-event)

• Multiple markets remain in staggered recapitalisation cycles (Kenya, WAEMU, others)

Banks now hold significantly more capital, but are operating in an environment where credit quality is deteriorating and yields remain elevated.

This session examines how banks deploy fresh capital post-recapitalisation, and whether the current credit cycle can absorb it without generating a new wave of impairments.