Top stories
Finance
Top stories
The discussions come as South Africa battles with the fallouts of a sweeping 30% tariff on all its US-bound goods — the highest rate imposed on any African nation under Trump’s new trade regime.
Food inflation, which has been the most stubborn driver of overall price growth, eased to 15.1% in July from 16.3% in June — marking one of the most notable improvements in food price stability in recent years.
According to the CBK, the mobile bond system must be able to handle at least 40 million transactions simultaneously and be accessible round the clock via USSD, mobile apps, and the web.
BUA Foods has surged to the top of the Nigerian stock market, becoming the most valuable listed company with a market capitalisation of ₦10.4 trillion ($6.78 billion). The milestone follows an 8.7% rise in its share price to ₦574.9, propelling it past MTN Nigeria
The Central Bank of Kenya (CBK) has invited public comments on the draft CBK (Non-Deposit Taking Credit Providers) Regulations, 2025.
ETI’s divestment came on the same day South Africa’s Nedbank announced plans to sell its 21.2% stake in the group, worth around $115.9m at current market prices.
Zambia’s post-default recovery gained traction this year, buoyed by stronger copper output and a record corn harvest.
Despite the downturn, Kenyan firms were more optimistic about future output. Business confidence rose for a second month in a row, reaching a 15-month high in July.
Coming over a decade after the last update, the rebased data offers a more current, granular view of Nigeria’s economy and reveals a structural transformation that had long been masked by outdated data.
Nedbank Group, South Africa’s fourth-largest bank by assets, has begun formal steps to sell its 21.2% stake in Ecobank Transnational Incorporated (ETI).
Afreximbank has financed Dangote’s syndicated refinancing facility, contributing $1.35bn of the $4bn, making the bank its largest single lender.
The move comes amid mounting losses for South Africa’s auto sector, with local manufacturers bearing the brunt of Trump’s trade policies as multimillion-dollar export contracts vanish.
The Centre for Promotion of Private Enterprise projects Nigeria’s GDP to reach $450bn in 2025, nearly doubling the $252bn in 2024.
Absa Bank Kenya has announced a $30.9 m injection into the country’s affordable housing sector, aiming to ease access to mortgage financing and support individuals and families seeking homeownership.
Under the revised trade order, the 15% rate applies to countries with which the US runs a trade deficit, while nations with a trade surplus, by contrast, will face a lower 10% rate.
With the next policy meeting scheduled for August 12, analysts are watching to see whether policymakers will hold rates steady in the face of rising inflation.
Despite receiving the sharpest cut in the new round of tariffs, Lesotho’s textiles industry, which has relied heavily on duty-free access under the US’ Africa Growth and Opportunity Act, continues to reel from months of uncertainty.
Despite enduring one of the highest inflation rates on the continent, Nigeria recorded the largest retail market growth in Africa in 2024, with modern retail sales surging by 30.4% to $13.2bn, according to new data from Euromonitor International.
Two days after acquiring CHI Limited, UAC of Nigeria’s share price has surged, making it the 36th most valuable company on the NGX—despite a profit dip in H1 2025.
MTN Nigeria Communications has emerged as the second listed company to hit the ₦10 trillion market capitalisation as its share price rose by 2% on Friday.
