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Finance
Top stories
Nigeria’s headline PMI has surged, reaching a 19-month high, buoyed by rising new orders, increased output, and stable inflation, with inflation projected to keep rising in the near term.
Union Bank of Nigeria, has finalised its merger with Titan Trust Bank (TTB), bringing an end to a process that began in 2021 when TTB acquired a controlling stake.
Sidi Ould Tah was sworn in on September 1, 2025 as the ninth President of the African Development Bank Group (AfDB), succeeding Nigerian economist Akinwumi Adesina, who completed a decade-long tenure.
Tracking the ups and downs of Egypt’s biggest companies just became easier. On August 17, 2025, the Egyptian Exchange (EGX) unveiled its first-ever mobile app, giving investors real-time access to market data directly from their phones—anywhere in the world.
The injection, funded through GTCO’s two-phased equity capital raising programme approved in 2024, increases GTBank’s share capital from ₦138.2bn ($90.1m) to ₦504.0bn ($328.8m) — surpassing the CBN’s ₦500bn ($326.2m) threshold.
Japan Credit Rating Agency has affirmed Afreximbank’s A- rating with a stable outlook, crediting its trade-finance role, amid ratings downgrade by Fitch and Moody’s.
Moody’s has described Nedbank Group Limited’s planned divestment of its 21.2% stake in Ecobank Transnational Incorporated (ETI) as credit positive, saying the move will allow the South African lender to sharpen its focus on more profitable markets.
Despite the uptick, inflation remained comfortably within the South African Reserve Bank’s 3-6% target band, leaving room for more rate cuts.
Access Holdings Plc, Nigeria’s largest banking group by assets, saw its share price extend a two-day losing streak on Thursday after the appointment of Innocent Ike as Group Managing Director/CEO.
CBN orders all POS machines in Nigeria to be geo-tagged within 60 days, ending roaming agents while adopting ISO 20022 to curb fraud and boost payment transparency.
As of the second quarter of 2025, unemployment in Egypt stood at 6.1%, down from 6.3% in Q1. The labour force expanded to about 33.6 million workers, with 223,000 new entrants recorded, according to the Central Agency for Public Mobilization and Statistics (CAPMAS)
Access Holdings, Nigeria’s largest banking group by assets, has appointed Innocent Ike as new Group Managing Director and Chief Executive Officer, terminating Bolaji Agbede’s 18-month tenure.
South Africa Capitec overtakes FirstRand Bank to become Africa’s most valuable bank, helped by a mix of share rally, asset returns, and appointment of CEO Lee
The Central Bank of Kenya (CBK) has introduced a new framework that will overhaul how commercial banks price loans, in a bid to strengthen monetary policy and end opaque lending practices.
Africa is fast emerging as the Gulf’s newest frontier for capital. In the past two weeks, Al Mansour Holdings, one of Qatar’s leading conglomerates, announced plans to invest $103bn across six African nations.
CIF listed on the Main Board of the Nigerian Exchange Limited (NGX) on Monday, debuting at ₦100 ($0.07) per unit with 87.9 million outstanding units, giving it a market value of ₦8.79bn ($5.72m).
Nigeria’s banks are racing to meet the central bank’s recapitalisation deadline, raising ₦800bn ($523m) in the first seven months of 2025, with a further ₦900bn projected by December.
According to the latest Foreign Investment Survey (FIS), 56.9% of foreign-owned enterprises in Kenya plan to reinvest or expand their operations over the next three years, committing at least KSh100 million ($745,000).
According to a new Africa Wealth report, five cities and regions across the continent have attracted 16,900 millionaires over the past decade, driven largely by lifestyle, education, and investment opportunities.
Zambia’s economy remains tied to copper, but its trade pact with Qatar aims to shift that by channeling financing into housing, agriculture, and finance.
