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Finance
Top stories
The sector saw its worst performance since the beginning of the year in April, as new orders and output declined at the fastest pace in four months amid fragile demand and rising cost pressures.
While the policy is seeks to boost local production, its success largely hinges on the nation’s ability to drastically reduce its reliance on imported raw materials, which could undermine the intended economic benefits.
The bank’s latest move highlights a growing shift among foreign financial institutions in Africa, as many reassess their presence amid evolving regulatory landscapes and changing market dynamics.
Nigeria High Court ruling backs CBN’s right to use eNaira, easing investor concern over Nigeria’s digital currency
While foreign exchange gains drove the rebound, the CBN’s earnings report also revealed a sharp drop in net interest income and surging liabilities, pointing to ongoing financial pressures.
Designed to drive economic transformation and inclusive growth, the AfDB’s new strategy will see $2.95 billion invested in Nigeria over four years, with total support—when combined with co-financing from development partners—expected to reach $3.2 billion.
In Africa, GTCO, Capitec, and Zenith are turning capital into profit with ruthless efficiency.
Soaring inflation and weak currencies push young Africans to crypto—but the IMF warns the rush could undercut monetary policy, fuel capital flight, and shake already fragile economies.
While not explicitly linked by the lastest trade data, the fact that Trump’s 25% auto tariffs took effect in the same month South Africa’s U.S. export earnings declined raises questions about the policy’s early impact on bilateral trade.
The agreement allows the local lender issue letters of credit and other trade instruments backed by the AfDB’s full risk coverage
Last month, Egypt’s central bank slashed its benchmark interest rate by 225 basis points to 25% – marking its first cut in nearly five years – after inflation drop sharply to 13.6%.
After months of negotiations, restructuring, and meeting some of the World Bank’s conditions, the local lender is now poised to receive an initial disbursement covering about 54% of the total approved funding.
Weighed down by higher costs and softer interest earnings, the bank’s gross earnings dropped to $965,364, from $1.2 million recorded in the corresponding period of the previous year.
The latest figure shows a staggering rise of over 6,000% in penalties compared to last year. The seven banks racked up fines for a range of infractions, from breaches in the forex market to lapses in anti-money laundering regulations
POS agents have become essential to financial access in Nigeria, especially in rural areas. However, rising fees are placing a heavy burden on the very people they were meant to help.
During the review period, domestic borrowing increased the central government’s total debt stock by 10.2%, while external debt played a key role in boosting the country’s foreign reserves
The sector’s strong performance was also reflected in its balance sheets as total assets rose by 7.1%—driven largely by growth in short-term securities and net loans and advances.
In an earlier report, we examined African banks with the highest profits, revealing that Nigerian banks were trailing their counterparts in Egypt and South Africa, despite a year of record-breaking profits for Nigerian lenders. This piece explores which country’s banks performed best in terms of Return on Equity (RoE), Return on Assets (RoA), and Return…
The anticipated investments, expected over the next two years, will bring Egypt’s total FDI from Kuwait to $27 billion.
Faced with mounting regulatory levies, a steep rate spread, and the world’s highest cash reserve ratio, Nigerian banks are left with little choice but to shift some of the burden to customers — perpetuating a disturbing trend.
