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Finance
Top stories
The massive roll-out of policies in Donald Trump’s era is creating an uncertain market with African bourses receiving their fair share
The latest move aligns with the lender’s broader plan to deepen its foothold in Kenya’s digital banking space.
The directive comes as banks prepare to meet a new total core capital requirement of $77.7 million by 2029.
During the 2023/2024 fiscal year, Kenya spent a staggering $12.6 billion on debt servicing, representing 68% of its total revenue.
The move comes after the Central Bank of Kenya announced a tenfold increase in minimum capital requirements for Tier 1 banks
South Africa’s performing brokers contribute significantly to the substance of transactions on the Johannesburg securities exchange
Nigeria partners with Flutterwave to digitise tax payments, aiming to improve compliance and efficiency while raising concerns about regulatory oversight.
The kwacha’s continuous depreciation highlights ongoing economic pressures worsened by the devastating effects of the El-Niño-induced droughts
The country’s performance was also affected by low investment as spending on long-term assets like buildings and equipment dropped by 7.9%.
The finance minister noted that the Kingdom will issue euro bonds as they better align with its present needs.
The regulator’s decision was also influenced by forecasts of rising inflationary pressures, even as consumer prices held steady at 3.2% in February.
The move aligns with a broader plan to improve efficiency and expand market share in its active markets across the continent.
For a long time, the banking sector in Ethiopia now has been dominated by local players, but recent policy changes could bring in foreign juggernauts.
The contraction of the lender’s balance sheet also led to a notable drop in customer deposits and credit to customers by $300 million and $900 million, respectively.
With inflation holding steady, all eyes are on South Africa’s central bank ahead of its rate decision on Thursday.
The approved budget lowers revenue expectations but increased spending, raising more concerns about the country’s fiscal deficit
The insurers performance was buoyed by higher demand for its general insurance and wealth management products in South Africa.
On a year-on-year basis, headline inflation rate reduced by 8.52% points lower than the rate recorded in February 2024 (31.70%)
The report however predicts slower GDP growth and a weaker rand, raising concerns about the economic trajectory of Africa’s second largest economy.
Fihla’s appointment comes as the bank focuses on rebuilding investor trust following a challenging period marked by leadership instability and financial underperformance.
