Author: Amadjiguéne Ndoye

Morocco Telecom posted a consolidated revenue of 27.27 billion dirhams (2.95 billion USD), representing a 1.2% year-on-year growth at the end of the first nine months of 2025, supported by the dynamics of its African subsidiaries and high-speed fixed broadband in Morocco, according to a statement released on Thursday, October 23, 2025. The group’s customer...

The young Nigerian bank PremiumTrust Bank, founded less than four years ago, has received a long-term credit rating of A- (NG) and a short-term rating of A2 (NG) from Global Credit Ratings (GCR), with a stable outlook, according to a report published on October 20, 2025. This evaluation, according to the same source, reflects the...

Sanlam Morocco’s insurance group launched Sanlam Private Investment on Monday, October 13, a structure dedicated to wealth management and private investment with the aim of connecting the country to major international markets. The new offering combines asset management, wealth engineering, private equity, real estate, and discretionary management in an integrated approach focused on performance, family...

The South Sudanese Central Bank (BoSS) officially launched, on October 10, 2025, the country’s very first Interbank Payment and Settlement System (SSIPS), aimed at modernizing and digitizing the financial sector. The platform combines Real Time Gross Settlement (RTGS) for urgent and high-value payments, and the Automated Clearing House (ACH), intended for mass low-value transactions, such...

The Central Bank of Kenya (CBK) did not pay dividends to the Treasury for the financial year ending in June 2025, a first in seven years, despite a surplus of 65.8 billion shillings (510 million USD). The information, widely reported by the local press on Monday, October 13, indicates that the institution has chosen to...

The Central Bank of Egypt (CBE) has established a Fund for Banking Reform and Development, a new independent entity aimed at modernizing the Egyptian banking sector in line with international standards. The announcement was made through the General Information Authority in a publication on October 11, 2025. With a broad mandate, the fund will focus...

South African company Harmony Gold has obtained final court approval for the acquisition of MAC Copper Limited for approximately $1 billion, solidifying an ambitious strategic shift towards copper. According to the gold company, the main asset of the transaction, the CSA copper mine located in Australia, is expected to produce around 40,000 tonnes of copper...

Zenith Bank Plc paid an interim dividend of 51.3 billion nairas (39.5 million USD) for the first half of 2025, up 63% from the 31.4 billion nairas (24.2 million USD) distributed in the same period in 2024. This increase reflects the strength of the bank’s financial results in a challenging economic environment. According to audited...

The Johannesburg Stock Exchange (JSE) has appointed Valdene Reddy as the new CEO of the group, effective from April 1, 2026. She succeeds Leila Fourie, who had been leading the institution since 2019 and will retire on March 31, 2026. Valdene Reddy, currently the director of capital markets at the JSE, has over ten years...

Beyond the headlines and anti-corruption slogans, the legal saga of the OPL 245 oil field has ended as a parable of African disillusionment with international courts. After over a decade of proceedings scattered between Abuja, Milan, and London, Nigeria has lost on all fronts – while JPMorgan, Shell, and Eni emerge unscathed, stronger than ever....

Sanlam Private Equity, the private equity branch of Sanlam Investments, will acquire Medhold, a provider of medical devices in Southern Africa, from Old Mutual Private Equity (OMPE), a subsidiary of Old Mutual Alternative Investments. The transaction, announced on October 1st, is subject to regulatory approvals and is expected to be finalized in the fourth quarter...

The World Bank has raised its economic growth forecast for Nigeria to 4.2% in 2025, up from 3.6% previously, supported by improved macroeconomic stability, the strength of the services sector, and the implementation of structural reforms. According to the latest Africa’s Pulse report released on Tuesday, October 7, Nigeria’s growth is expected to increase from...

The Dubai-based fintech Optasia is set to list on the Johannesburg Stock Exchange (JSE) in an operation aiming to raise up to 6.3 billion rand ($375 million). This fundraising combines a public offering of around 1.3 billion rand ($70 million) and a private placement of at least 5 billion rand ($270 million) with existing shareholders....

Kenya has converted a $5 billion railway loan from China into yuan, aiming to reduce its annual interest costs by around $215 million, according to Finance Minister John Mbadi. This decision is part of a broader strategy to limit the country’s exposure to fluctuations in the dollar and interest rate hikes. The initial loan, denominated...

Africa Finance Corporation (AFC) has had its long-term issuer credit rating confirmed at A3 by Moody’s Ratings for the eleventh consecutive year, with a stable outlook. The short-term P-2 rating has also been maintained, highlighting AFC’s status as one of the highest-rated financial institutions on the continent. According to Moody’s press release published on Monday,...

The Central Bank of Nigeria (CBN) has issued a new set of guidelines on Monday, October 6, regulating the operations of bank agents across the country, with the aim of enhancing transaction security and improving consumer protection. According to these guidelines signed on Monday by Musa Jimoh, Director of the CBN’s Payment System Policy Department,...

The World Bank anticipates an acceleration of growth in Sub-Saharan Africa, driven by a decline in inflation and stabilization of exchange rates. In its Africa’s Pulse report published on October 7, 2025, the institution now forecasts an expansion of 3.8% in 2025, up from 3.5% in its April estimates. According to the World Bank, the...

In a note published by Moody’s Investors Service, the credit rating agency warns that the recent decision by the Central Bank of Nigeria (CBN) to reduce its Monetary Policy Rate (MPR) from 27.5% to 27% could put downward pressure on the profitability of Nigerian banks. According to Moody’s, this reduction in the benchmark rate, combined...

The Central Bank of Nigeria (CBN) has lowered its benchmark rate to 27%, marking its first reduction in five years. This decision, made on September 22, 2025 during the Monetary Policy Committee (MPC) meeting, aims to boost the economy in a context of stabilizing the naira and slowing inflation. Following this cut, several commercial banks,...

The board of directors of Telecom Egypt has appointed Tamer El Mahdi as the new CEO, replacing Mohamed Nasr who resigned after leading the company since March 2023. The decision, effective immediately, was made during a board meeting held on September 30, 2025. With over 30 years of experience in the telecommunications, digital transformation, and...

Airtel Africa has revised its agreement with Barclays Capital Securities Limited to ensure the completion of its ongoing share buyback program, especially in anticipation of its upcoming regulatory closed period. Last May, the London-based group launched the second tranche of its share buyback program, with a maximum target of $55 million. This tranche was initially...

United Bank for Africa Plc (UBA) reported an after-tax profit of 335.53 billion naira (436 million USD) for the first half ending on June 30, 2025, representing a 6% increase compared to the 316.36 billion naira (411 million USD) recorded in the same period in 2024. According to the financial statements filed on Thursday, September...

Sanlam Kenya PLC plans to hold a virtual Extraordinary General Meeting on October 9, 2025, to seek shareholder approval for the official name change of the company to Sanlam Allianz Holdings (Kenya) PLC. This decision is part of the SanlamAllianz joint venture, established with the German group Allianz, which combines their African operations to form...

Signed in 2018 in Kigali and entered into force on January 1, 2021, the African Continental Free Trade Area (AfCFTA) was supposed to give birth to the world’s largest common market. Four years later, amidst delays, persistent barriers, and the resurgence of nationalism, its future is uncertain. “AfCFTA in the face of the resurgence of nationalism” is at the heart of Financial Afrik’s Grand Debate, with Dr. Mohamed Hamidouch, development banker and former senior executive of the African Development Bank (AfDB), Rivo Ratsimandresy, CEO of the Rencontre des Entrepreneurs (RDE), and Adama Wade, publisher of Financial Afrik, moderated by Amadjiguène…

The African Development Bank (AfDB) has approved a $25 million investment in the TCX Local Currency Exchange Fund to facilitate access to local currency financing on the continent. Announced on Wednesday, September 17, this decision is part of AfDB’s strategy to reduce African borrowers’ exposure to exchange rate risks. The investment targets primarily fragile countries,...

Khalil Dinguizli takes the reins of operations at the European Bank for Reconstruction and Development (EBRD) in Senegal. Based in Dakar, his mission will be to establish the Bank’s presence in the country and work hand in hand with local stakeholders to bring forth new projects. The banker is familiar with the African terrain. After...

The Arab Bank for Economic Development in Africa (BADEA) has signed a financing agreement with Ghana to mobilize up to $500 million in support of the national “24/7 Economy” initiative. The ceremony took place on Wednesday, September 17 at the headquarters of the Bank of Ghana (BoG). The protocol includes an initial financing of $60...

CI Capital Private Equity (CIPE), a subsidiary of CI Capital Holding, and Engazaat, an Egyptian company specialized in clean energy and water access, announced on Tuesday, September 16th that they have signed a partnership agreement to launch the first green infrastructure fund in the region, focusing on the link between water, energy, and food (WEF)....

Absa Bank Kenya has appointed Mohammed Nyaoga as the Chairman of its Board of Directors, effective from October 1, 2025. He succeeds Charles Muchene, who has completed his nine-year term. The new Chairman, a lawyer, has held various leadership positions, including Director of the Capital Markets Authority, President of the International Commission of Jurists, and...

Nigeria has suspended the 4% tax on imports (FOB) after manufacturers and importers raised concerns. Introduced last month by the Nigeria Customs Service (NCS), this tax quickly raised concerns from the private sector, fearing an increase in costs and a negative impact on the country’s competitiveness. In a circular dated September 15, 2025, the Minister...