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Top stories
Equity’s push into the Middle East mirrors a broader trend among major African banks seeking expansion into the region. Since the beginning of 2024, at least four major lenders from the continent have either begun operations there or announced plans to expand.
The Nigerian stock market has soared past 120,000 points and isn’t slowing down — now valued at $53.3 billion as of July 16, 2025 , even amid inflation, FX strain, and global volatility. So, what’s behind the momentum?
Ethiopia’s efforts to boost domestic revenue are falling short and according to the IMF’s latest country report, the nation’s tax-to-GDP ratio remains stuck at 8%—well below both regional and global benchmarks
Guaranty Trust Holding Company (GTCO) has crossed the ₦100 share price mark — a first for any Nigerian banking stock — placing it alongside industrial giants like BUA Cement and Lafarge Africa.
On a year-on-year basis, annual inflation fell sharply by 11.97% in June, down from 34.19% in the corresponding month of the last year, reflecting the impact of a high base year and a significant fall in food inflation.
The projection comes at a time when South Africa is grappling with one of the world’s highest unemployment rates. Official figures show joblessness at 32.9% in the first quarter of the year, and at 43.1% under the expanded definition.
Zenith Bank, one of Nigeria’s largest financial institutions, saw its market capitalisation cross the ₦3 trillion ($2.04 billion) mark on Wednesday, a week after GTCO achieved the same feat.
Despite growing concerns around Senegal’s debt burden, the latest issuance was oversubscribed by over 21%, with the finance ministry attributing the interest to renewed investor confidence in the country’s economic trajectory.
According to the regulator, the latest approvals come amid strong investor confidence and rising appetite for diversified investment options, including offshore and foreign currency-denominated funds.
Aliko Dangote is making a high-stakes bet on fertiliser to help Africa reclaim control of its food systems, with an ambitious target of no imports for 40 months.
The downgrade marks the lowest rating assigned to the western African nation since the agency began assessing the country in 2000 and the second downgrade in five months.
The scale of the intervention, which exceeds the entire 2023 total of $1 billion and represents nearly half of last year’s sales, reflects a more aggressive approach to exchange rate management.
The debt projection shows a sharp increase from the $98 billion reported at the end of March by the Debt Management Office and highlights the mounting fiscal risks from underperforming oil revenue.
Jamaica has officially joined Afreximbank, becoming the 13th Caribbean Community (CARICOM) nation to sign the bank’s Establishment Agreement. The milestone unlocks $1.5 billion in new financing for the country.
The tax reforms also provide a dividend withholding tax exemption for NIFC-certified firms that reinvest at least $1.9 million (KES 250 million) of their annual earnings into the Kenyan economy.
The slump in intra-African investments contrasts sharply with Egypt’s rising global profile as a top destination for foreign capital on the continent based on recent data from the UN.
In a statement issued on Thursday, the debt office clarified that the actual amount used for servicing the bond was $44.6 million, not the $401.1 million being cited in some media reports.
Another key factor behind the CBE’s decision to hold rates is the government’s recent VAT reform package, announced on June 29. The amendments seek to broaden the tax base without raising the general 14% VAT rate.
According to the 2024 Taxes and Charges Study by the African Airlines Association (AFRAA), international passengers departing from African airports pay an average of $68 in taxes and fees—up from $66 in 2022 and $64 in 2020.
Kenya’s domestic debt market kicked off the 2025/26 fiscal year on a bullish note, as investors continued their pivot toward long-term government bonds in search of higher yields and stability.
