Top stories
Finance
Top stories
Despite Ethiopia’s budget nominal rise, the budget’s value in US dollars has declined by 30% due to the Birr’s depreciation.
Fitch Ratings has downgraded the African Export-Import Bank (Afreximbank) by one notch to BBB-, placing it at the bottom of investment grade and just above junk status.
Kenya’s top lenders, Equity Group and KCB Group, are grappling with Instruction 18, a new rule from the Democratic Republic of Congo, aimed to drive local investors market dominance
The resumption of World Bank support could help ease the country’s mounting fiscal pressure by reintroducing cheaper external financing, particularly in infrastructure and development sectors.
This historic shift marks the key emergence of a new, regulated gold economy in Ghana – where small-scale miners are no longer secondary, but central to national growth
While the IMF praised the West African nation for its efforts to improve tax compliance and reduce reliance on external financing, it noted that these initiatives will have no impact on the ongoing misreporting case that led to the suspension of disbursements.
Consumer prices dropped to 18.4% in May, driven by a sharp decline in non-food inflation. Although Ghana is now on a five-month disinflation streak, inflation remains well above the central bank’s target, signalling the need for continued caution.
The African nation has held a sub-investment grade ‘BB-/B’ foreign currency rating since 2020, following years of slow growth, mounting debt, and large-scale bailouts for state-owned enterprises.
Despite concerns that open banking could be detrimental to Nigeria’s commercial banks, Adedeji Olowe, CEO of Lendsqr, argues that they could be the biggest winners when it goes live.
Ethiopia’s reform program is showing signs of success, with improved inflation, surging export earnings, and an 83% jump in tax revenue unlocking $260 million in fresh funding from the IMF
The CBN’s recapitalisation benchmark introduced in 2024 aimed at reforming Nigeria’s informal sector runs on a deadline today, only 5% of BDC operators has hit the bar
In addition to the renewed warrant, the special prosecutor has begun the process of issuing an Interpol red alert for the former minister’s arrest and extradition to Ghana.
The sluggish growth comes despite a rebound in agricultural output, with the sector expanding by 15.8% during the quarter — a lift that ultimately helped the economy avoid slipping into contraction.
Libya officially became the 52nd shareholder of the African Export-Import Bank (Afreximbank) on May 13, 2025.
Nigeria’s credit rating rises to B3, reflecting stronger economic management and investor confidence, though risks persist.
In a strategic portfolio shift, TotalEnergies has divested its 12.5% stake in Nigeria’s Bonga, a move from high-cost, high-emission assets, reflecting broader diverging among oil majors
Access Bank has acquired National Bank of Kenya from KCB Group in a $102 million, expanding its presence in East Africa. NBK will operate independently for now, pending full integration.
Dr. Adesina’s AfDB tenure saw $273B+ mobilised for energy, food, and industry, but progress on trade and livelihoods lagged amid conflict, climate shocks and global crises.
While inflation remains within target, underlying macroeconomic pressures, falling private sector credit, and soaring public debt, signal deeper economic threats
The central bankers noted that the decision to cut rates was driven by lower inflation expectations and a more benign outlook for the economy.
