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The facility will also support South Africa’s transition to a green economy under its Just Energy Transition (JET) programme. The IMF estimates that the development initiative could lift annual GDP growth by 0.2 to 0.4 percentage points between 2025 and 2030.
As a fallback plan, Pretoria is willing to accept a maximum tariff of 10% if exemptions are not granted, its trade ministry revealed.
According to the World Bank, the AfCFTA has the potential of becoming the world’s largest trade area, connecting 1.3 billion people across 54 countries into a single market valued at $3.4 trillion. But progress remains slow due to uneven implementation.
Business activity in Nigeria fell to a seven-month low in June 2025, despite continued declines in inflation, according to the latest Purchasing Managers’ Index (PMI) from Stanbic IBTC Bank.
Cameroonian legal expert Dr. George Elombi has been appointed president and Chairman of Afreximbank, becoming the fourth to lead the continent’s trade institution since its creation in 1993
While BAHL’s exit is relatively minor—it had no retail operations in Kenya—it adds to growing concerns about reduced access to trade finance and foreign capital as more global lenders cut back their presence.
By increasing green financing, the bank is looking to reduce its exposure to climate risks while positioning itself as a key player in Mauritius’ low-carbon transition.
Nigeria has introduced tax reforms that scrap three key taxes for small businesses but tripled the capital gains tax (CGT) rate for corporations.
Nigeria has taken a bold step toward overhauling its tax system. So, what exactly has changed—and what does it mean for employees, companies and investors?
Kenya’s Equity Group appoints six new directors and secures approval to open its first office outside Africa in the UAE, targeting diaspora and cross-border growth.
Explore the mechanics and infrastructure choices behind offline-first fintech in Africa. In Africa, products are engineered to survive (and thrive) where the signal fails. If you work in product or engineering in Financial services, this is for you.
President Bola Tinubu has signed into law four tax reform bills that are set to transform Nigeria’s fiscal and revenue framework. The four bills, the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill, were passed on Thursday after extensive consultations with various…
The signing comes a day after Kenyans returned to the streets to commemorate victims of last year’s nationwide protests, which were sparked by the highly controversial tax reforms proposed in the Finance Act 2024.
The NBE’s latest directive reinforces Ethiopia’s commitment to liberalise its tightly controlled financial sector and sends a strong signal to global investors that the country is now serious about attracting long-term capital, technology, and expertise into its banking industry.
Fidelity Bank Plc, one of Nigeria’s major commercial banks, has promoted 376 employees — representing 12% of its workforce — following a strong financial year that saw it deliver the highest profit growth in the country’s banking sector. In a statement on Thursday, the bank also announced a 20% salary increase across the board, marking…
The Lusophone African nation’s latest equity injection brings its total investment in the regional financier to over $200 million, including the $25 million contribution made earlier this year by the Fundo Soberano de Angola, the country’s sovereign wealth fund.
While the deal marks a major step towards stabilising the economy, the West African country still faces a tough road ahead as it seeks to persuade private lenders to rework their share of the debt.
Nigeria, Africa’s most populous country, has yet to release its real Gross Domestic Product (GDP) data for the first quarter of 2025, and there’s cause for concern.
The directive is part of the government’s broader financial sector reform campaign aimed at deepening financial inclusion, expanding the tax base through improved payment traceability, and enabling long-term economic growth.
The sharp rise in debt costs coincides with a 71.5% drop in external grant in Q1 2025, reflecting growing difficulties in attracting budget support from international partners.
