Author: Amadjiguéne Ndoye

The Bank of Ghana (BoG) has lowered its key rate by 150 basis points, bringing it down from 15.5% to 14%. This reduction is larger than expected by the markets, made possible by the decline in inflation. This decision, announced at the end of the 129th meeting of the Monetary Policy Committee (MPC) held from March 16 to 18, 2026, marks the continuation of the monetary easing cycle initiated after the debt crisis that had severely destabilized the Ghanaian economy, leading the country to seek support from the International Monetary Fund (IMF). Annual inflation has significantly slowed to 3.3% in…

Adenia Partners announced on Thursday, March 19, 2026, that it has reached the hard cap of $180 million at the first close of its new fund dedicated to small and medium-sized enterprises in Africa. The vehicle, named Adenia Entrepreneurial Fund I (AEF), exceeds its initial target of $150 million and brings the total capital raised by the company to over one billion dollars. The fundraising was completed in less than a year. “Achieving our hard cap at the first close and in less than a year reflects strong conviction in both our strategy and the African entrepreneurial ecosystem. Adenia and…

Kenyan banking group Equity Group Holdings recorded a net profit of 580 million USD in 2025, up 55% from the previous year, supported by the growth of its activities in East and Central Africa. With this result, described as a “record”, the board of directors proposed a total dividend of 167 million USD, an increase of more than a third compared to 2024. During the 2025 financial year, revenues reached nearly 1.67 billion USD, up 12%, while the cost-to-income ratio improved to 51%, reflecting cost control in a context of regional expansion. The total balance sheet stood at 15.2 billion…

Bank of Tanzania, the central bank of Tanzania, has acquired a stake in the Africa Finance Corporation (AFC), becoming a sovereign shareholder and strengthening the diversified capital base of the pan-African institution. According to the AFC, this investment reflects the confidence of states in its ability to mobilize long-term financing for infrastructure and industrial development projects across Africa. The move comes after the AFC was awarded an A credit rating (positive outlook) by S&P Global Ratings, which praised the strength of its capital structure and the support of its shareholders. For the AFC, the entry of the Bank of Tanzania…

Dangote Industries Limited and the Chinese group GCL have signed a $4.2 billion agreement over 25 years to supply natural gas to Dangote’s future urea fertilizer complex in Ethiopia. The plant, valued at $2.5 billion and owned 60% by Dangote and 40% by Ethiopian Investment Holdings (EIH), will produce 3 million tons of urea per year and is expected to start operations in 2029. The gas will be extracted from the Calub field in the Ogaden basin and transported via a 108 km pipeline to the Somali region. The project aims to make Ethiopia the leading regional producer of modern…

KCB Group recorded a gain of 3.1 billion shillings (22.6 million USD) on the sale of its 100% stake in the National Bank of Kenya (NBK) to Access Bank, finalized in May 2025. The transaction, valued at approximately 13.2 billion shillings (96.4 million USD), reflects the price paid by Access Bank being higher than the acquisition cost and capital injected by KCB into NBK. “The gain of 3.1 billion shillings (22.6 million USD) corresponds to the difference between what we invested in NBK and what we received,” said Lawrence Kimathi, the group’s chief financial officer, without specifying the total proceeds…

MTN Group returned to profitability in 2025, recording a net profit of 27.4 billion rand (1.5 billion USD) for the fiscal year ended December 31, compared to a loss of 10.9 billion rand (600 million USD) a year earlier, driven by strong growth in its key markets in Nigeria and Ghana. According to the results published on March 16, 2026, the group’s service revenue increased by 22.9% to reach 218.5 billion rand (12 billion USD), while EBITDA increased by more than a third at constant exchange rates, to 98.5 billion rand, supported by 3.6 billion rand in cost savings. In…

Société Générale Ghana recorded an after-tax profit of 397 million Ghanaian cedis ($25.6 million) in 2025, with a return on equity (ROE) of 15.1% and a capital adequacy ratio (CAR) of 23.4%, demonstrating resilient performance in a context of improving macroeconomic environment in Ghana. For the year ended December 31, 2025, net interest income stood at 1.19 billion cedis ($76.8 million), up 6% year-on-year, while net commission income increased by 16%. Trading net income more than doubled to reach 122.3 million cedis ($7.9 million), driven by treasury activities performance and active balance sheet management. The period under review was marked…

Deloitte Africa has appointed Yomi Olugbenro as the Managing Director for West Africa, with his start date scheduled for June 1, 2026. He will succeed Fatai Folarin, who will be stepping down at the end of May after a transition period. Prior to this appointment, Yomi Olugbenro was the Tax Leader for West Africa and a Senior Partner at Deloitte. He is known for his expertise in corporate taxation, transfer pricing, regulatory advisory, and tax litigation, and has led cross-border operations and compliance for large corporations. He has also represented the private sector in discussions on Nigerian tax reform. A…

The Central Bank of Botswana has chosen to leave its key rate unchanged at 3.5%. This decision announced on Thursday, February 26, marks the second consecutive meeting without any changes to its main monetary instrument. It is part of the central bank’s efforts to support the local economy in the face of global economic uncertainties,...

Moody’s Ratings believes that the latest South African budget confirms a credible improvement in the country’s budgetary position, while warning that a “significant” reduction in public debt will require more sustained economic growth. According to Evan Wohlmann, Senior Vice President of Credit at Moody’s, the budget “confirms South Africa’s strong budget performance”, driven by revenue...

KPMG, an international professional services firm (audit, advisory, and taxation), has appointed Nigerian Tola Adeyemi as the Chief Executive Officer of KPMG in Africa, effective from March 2026. He succeeds Ignatius Sehoole, who led KPMG One Africa for several years. Before his continental appointment, Adeyemi was the Senior Partner at KPMG Nigeria and CEO of...

The Central Bank of Egypt (CBE) lowered its key interest rates by one percentage point on Thursday, February 13, bringing the overnight deposit rate to 16.25% and the lending rate to 17.25%. This is the sixth rate cut in ten months, as part of a policy aimed at stimulating economic growth and supporting domestic production. After aggressive hikes to contain inflation and stabilize the Egyptian pound, the CBE is now taking a more accommodative approach. The rate cut is expected to reduce borrowing costs for businesses and consumers, encourage private investment, and strengthen local production. Additionally, the central bank has…

Ecobank Kenya has appointed Rebecca M. Mbithi as Managing Director effective February 9, 2026, subject to approval from the Central Bank of Kenya (CBK), according to an announcement made on Wednesday 11 by the Togo-based banking group’s subsidiary. She succeeds Josephine Anan-Ankomah, who now holds the position of Regional Director for Central, Eastern, and Southern Africa (CESA) at Ecobank, overseeing 17 markets, including Kenya. Former Managing Director of Family Bank Limited, Mbithi brings over 20 years of experience in the financial services and other sectors. She has also served as a director at NCBA Kenya and as Vice President of…

Nigeria has secured a permanent seat on the board of the future African Central Bank during the 39th session of the Executive Council of the African Union (AU), a decision that reinforces its positioning at the heart of the continent’s monetary integration project. According to a statement released on Friday, February 13 by the Nigerian Ministry of Foreign Affairs, the Executive Council also endorsed the extension of the country’s representation within the Technical Convergence Committee of the African Monetary Institute, the body responsible for preparing the establishment of the African Central Bank. Foreign Minister Yusuf Tuggar described this decision as…

Access Bank Plc has waived outgoing transfer fees on cross-border payments made through the Pan-African Payment and Settlement System (PAPSS), with the aim of encouraging the use of local currency payments across Africa until April 30, 2026. The initiative allows customers to send funds from Nigeria in naira to other African countries, with recipients receiving the amounts in their local currency without outgoing fees. It applies to transactions made through the Access Africa module, accessible on the bank’s digital platforms and in its branch network. Access Bank states that this measure aims to reduce the cost of cross-border payments and…

Safaricom has launched Ziidi Trader, a service integrated into the M-PESA app that allows users to buy and sell stocks listed on the Nairobi Stock Exchange (NSE) directly from their mobile phone, without the need for a separate brokerage account. Users can access Ziidi Trader through the Financial Services section of M-PESA. All transactions are executed by Kestrel Capital, Safaricom’s exclusive partner, and settled directly via M-PESA. The platform also allows users to track real-time stock prices and create personalized watchlists. Ziidi Trader was tested in a pilot phase in late 2025 and builds on the Ziidi Money Market Fund…

Partners Capital Investment Group, a global investment firm managing over 70 billion USD in assets, announced on Thursday, February 12th the closing of its private co-investment fund Merlin IV, with over one billion USD in commitments. The fund received subscriptions from family offices and institutional investors in North America, Europe, Asia, and Africa. Merlin IV is the fourth fund launched under the Merlin platform, created in 2019. Since its inception, the platform has invested over 2 billion USD in over 60 transactions. Merlin IV, the fourth fund of the co-investment platform Merlin launched in 2019, focuses on acquiring mid-sized and…

Absa Group has appointed Kenyan Sitoyo Lopokoiyit as the Chief Executive Officer of retail banking, with his start date set for April 1, 2026. This decision is part of a series of changes within the executive leadership aimed at strengthening governance and supporting the group’s growth strategy, according to a statement released on Wednesday, February 11. Previously the CEO of M-PESA Africa and Director of Financial Services at Safaricom, Sitoyo Lopokoiyit has held several leadership positions in the telecommunications company since joining in 2011, including Head of Strategy and Business Development for M-PESA. He is credited with major innovations such…

The South African group Bidvest has ended negotiations with the Nigerian Access Bank, after key conditions of the transaction were not met by the agreed deadline. In a statement released on Monday, February 9th, Bidvest confirmed the official cancellation of the agreement and stated that it is now exploring options with other potential buyers for its banking subsidiary. The group emphasized that Bidvest Bank remains strong and operationally stable, and that this decision is part of its strategy to gradually withdraw from financial services and focus on its core and more profitable activities. According to Bidvest, “despite efforts by both…

The Ugandan Central Bank has maintained its key rate at 9.75% on Monday, February 9, continuing a series of six consecutive stability decisions. This “prudent” decision comes as the country prepares to launch its commercial production of crude oil, a turning point that could transform the national economy. Governor Michael Atingi-Ego justified this status quo...

The National Bank of Egypt (NBE) is considering strengthening its presence in the Gulf region, beyond Saudi Arabia and the United Arab Emirates, announced Hesham Elsafty, NBE’s international banking director. The Riyadh branch will focus on financing large and medium-sized enterprises, foreign trade, and investments, the official said. The initiative is also expected to enhance trade between Saudi Arabia and Egypt. The bank has stated that it is among the first institutions to request the opening of an agency in the Kingdom from Saudi authorities. “This expansion builds customer confidence in the bank, both in the local market and in…

The Nigerian Bank of Industry Limited (BOI) has obtained approval from the national central bank (CBN) to launch an interest-free banking window, aiming to expand access to ethical financing and stimulate more inclusive industrial growth. The approval allows the bank to offer interest-free financial products, including financing for assets and raw materials, to underserved economic...

Moody’s Investors Service has confirmed that the outlook for the Kenyan banking system remains stable, reflecting resilient economic conditions and strong financial buffers, while also upgrading the ratings of several large banks in the country. “Our outlook for the Kenyan banking sector is stable and reflects our view of the evolution of banks’ solvency over...

Access Bank Plc has appointed Ifeyinwa Osime as the head of its board of directors, replacing Paul Usoro SAN, who retired on January 29, 2026 after completing his regulatory term. The announcement was made by the holding company on Monday, February 2. A member of Access Bank’s board since November 2019, Ifeyinwa Osime has chaired several key committees, including those in charge of human resources and sustainability, governance, and nomination and remuneration. She brings over two decades of experience in law, insurance, and corporate governance, having worked in institutions such as McPherson Legal Practitioners, NSIA Insurance, and Nigeria Reinsurance Corporation.…

Ethiopia plans to open its gold market to private banks and gradually eliminate the premium paid to artisanal miners, the International Monetary Fund (IMF) said in its fourth review of the Extended Credit Facility, published on January 30, 2026. According to the fund, these reforms mark a major turning point, ending the predominant role of...

Nearly 11 billion transactions were processed through the NIBSS Instant Payments (NIP) platform in 2024, up from around five billion in 2022, positioning Nigeria as one of the top global adopters of real-time payments and leading in Africa, according to the first fintech report published on February 2, 2026 by the Central Bank of Nigeria...

The International Monetary Fund (IMF) has authorized an immediate disbursement of 65.88 million Special Drawing Rights (SDRs), equivalent to $91 million, to Mauritania following the fifth review of the Extended Credit Facility (ECF) and Extended Fund Facility (EFF) arrangement, as well as the fourth review of the Resilience and Sustainability Facility (RSF). The amount includes 6.44 million SDRs under the ECF/EFF and 59.44 million SDRs under the RSF, bringing total disbursements to 191.8 million SDRs ($258 million), according to a statement released on Wednesday, January 28. Economic growth, which reached 6.3% in 2024, is expected to slow to 4.2% in…

Fitch Ratings downgraded Afreximbank’s long-term credit rating to BB+ on January 28, 2026, moving it into the non-investment grade category, before withdrawing all its ratings on the pan-African bank. This decision comes shortly after Afreximbank announced on January 23 that it was ending its collaboration with the American rating agency. In a statement on its...

The South African Reserve Bank (SARB) kept its repo rate unchanged on Thursday, January 29, stating that inflation remains firmly anchored within its target range, while the rand continues to strengthen thanks to a favorable external environment and rising commodity prices. This decision by the Monetary Policy Committee comes after a 25 basis point cut announced in November, following the lowering of the inflation target to 3%. Since then, consumer prices have been at levels rarely seen before: average inflation stood at 3.2% in 2025, the lowest in over twenty years, despite a slight increase to 3.6% in December. The…