Author: Amadjiguéne Ndoye

The Bank of Ghana (BoG) recorded a loss of 15.6 billion Ghanaian cedis (GH¢) (1.42 billion USD) in 2025, compared to 9.48 billion GH¢ (862 million USD) a year earlier, according to the recent audited financial statements. The Central Bank attributes this deterioration to the increase in the costs of monetary policy operations and liquidity...

Letshego Africa Holdings has signed binding agreements to sell its subsidiaries in Uganda, Ghana, Tanzania, Nigeria, and Rwanda to Axian Digital Venture Holdings and Management, as part of a strategic refocusing on its Southern African markets. The Botswana-based group announced on Monday, May 4th that Axian will acquire 100% of the share capital of Letshego...

MTN Group will acquire 60% of the fintech activities of its subsidiary MTN Nigeria for approximately 60 million USD, as part of an internal reorganization aimed at redistributing risks and supporting the growth of digital financial services. The operation concerns MoMo Payment Service Bank and Y’ello Digital Financial Services, which respectively provide mobile payment banking services and a network of agents for deposits, withdrawals, and payments. According to MTN Nigeria, the transaction will be carried out through its subsidiary MTN Group Fintech, through a combination of issuance of new shares and partial buyback of existing securities, based on a valuation…

Moody’s Investors Service has placed the city of Johannesburg under negative watch, paving the way for a possible downgrade of its rating, in the context of a gradual weakening of the finances of South Africa’s main economic metropolis. The city, currently rated Ba3, is already significantly in speculative grade. Moody’s decision reflects growing concerns about...

The Central Bank of Kenya (CBK) has launched a bond auction aiming to raise 80 billion Kenyan shillings (520 million USD) for government budget financing, with increased access for individual investors. The operation, open from April 23 to May 6, 2026, involves the reopening of three fixed-rate Treasury bonds, with remaining maturities ranging from approximately...

The Nigerian financial group United Capital recorded a record net profit of 28.15 billion naira ($18 million) in 2025, up 17% year-on-year, driven by strong revenue growth and the performance of all its subsidiaries. Revenue increased by 35% to reach 58.55 billion naira ($38 million), supported in particular by a surge in trading revenue and...

The Nigerian federal government plans to raise 700 billion nairas ($450 million) in the domestic market through a bond auction scheduled for April 27, with settlement set for April 29, according to a circular from the Debt Management Office (DMO). This operation is part of a gradual reduction in borrowing amounts in recent months, with...

French telecom group Orange reported a 3.5% increase in revenue in the first quarter of 2026, supported by particularly strong performance in Africa and the Middle East, according to results published on Thursday, April 23. The telecom group generated 10.1 billion euros in revenue during the period, while its EBITDAaL increased by 6.6% to 2.6 billion euros. The Africa and Middle East region emerged as the main growth driver for the group, with a 12.7% increase in revenue. This performance contrasts with that of European markets, which were more moderate, particularly in France (+2.3%) and Europe (+2.2%). Retail activities increased…

First National Bank Ghana has appointed Sylvia Inkoom as Managing Director, effective July 1, 2026, subject to approval from the Bank of Ghana, as part of its financial inclusion and digital banking development strategy. She succeeds Warren Adams, who held the position since 2022 and is moving to another role within the FirstRand group. Inkoom...

The Arab Bank for Economic Development in Africa has signed a 40 million euros (60 billion naira) credit facility with the Development Bank of Nigeria (DBN) to strengthen access to long-term financing for small and medium enterprises in Nigeria. The agreement, reached on the sidelines of the IMF and World Bank Spring Meetings held from April 13 to 19, 2026 in Washington, aims to address the financing gap for SMEs, estimated at nearly 13 trillion naira (7.6 billion euros) in Africa’s largest economy. The funds will be channeled through local financial institutions to finance key sectors, including agriculture, industry, health,…

Zenith Bank has become the most valued bank in Nigeria, with a market capitalization exceeding 5 trillion nairas (3.1 billion USD), according to data from the Nigerian Exchange, supported by the rise in its stock price and strong results. The stock has surged significantly between December 2025 and April 2026, rising from around 61.80 nairas...

The South African banking group Absa plans to accelerate its growth in Africa through new acquisitions and partnerships, as part of the update of its pan-African strategy. This direction comes after several recent operations, notably in Uganda and Mauritius, which serve as the basis for this new phase of expansion. In Uganda, Absa has signed...

The Central Bank of Nigeria (CBN) has called on commercial banks to take advantage of recent reforms to increase monthly diaspora transfers to $1 billion by the end of 2026, amidst improving financial conditions and ongoing economic reforms. At the spring meetings of the International Monetary Fund and World Bank in Washington, CBN Governor Olayemi Cardoso emphasized the need to streamline official transfer channels, still hindered by high costs and operational delays. For the Central Bank, the issue goes beyond simply mobilizing currencies. It involves sustainable growth in remittances that would strengthen reserves, stabilize the naira, and reduce the country’s…

The Bank of Uganda has begun its first purchases of gold from local producers as part of a three-year pilot program aimed at diversifying and strengthening its foreign exchange reserves. The first transactions took place on April 17, marking the Central Bank’s entry into the domestic market as a direct buyer. The institution will buy...

Ethiopian Airlines has announced the acquisition of six additional Boeing 787-9 Dreamliners, converting options into firm orders to support the expansion of its long-haul network. This decision brings its recent commitments for the 787 to 26 aircraft, after an order in January including nine 787-9s and 11 737 MAXs. Deliveries will begin in 2028, according to CEO Mesfin Tasew. As the largest operator of the 787 in Africa, the group plans to increase frequencies to Europe, Asia, and North America, while opening new routes, including to Australia, and strengthening some high-demand African routes. “Some routes remained unexploited due to lack…

Nigeria recorded a sharp increase in its debt service in the fourth quarter of 2025, with 2.28 trillion nairas (1.5 billion USD) for domestic debt and 1.8 billion USD for external debt, according to the latest data from the Debt Management Office, DMO. The domestic debt service amounted to 2.28 trillion nairas (1.5 billion USD), with the majority coming from interest payments at 2.17 trillion nairas (1.43 billion USD), accounting for over 95% of the total. Principal repayments remained limited at 108.9 billion nairas (72 million USD). State bonds in naira accounted for the majority of interest payments, at 1.32…

Oman has announced the creation of the African Bank of Oman (ABO) in Luanda, strengthening its expansion into emerging African markets. The new institution, supported by the Oman Investment Authority, is designed as a cross-border investment bank. It aims to facilitate capital flows and trade between Angola, the Middle East, and other African markets. The Deputy Prime Minister for Economic Affairs, Theyazin bin Haitham Al Said, stated that this initiative should deepen economic relations with the African continent and enhance Oman’s reputation as a reliable investment partner. Supported by the Oman Investment Authority, the new bank is designed as a…

Standard Bank Group has finalized a 13.1 billion rand ($800 million) sustainability-linked syndicated loan. The transaction, initially launched at $500 million, was heavily oversubscribed, with commitments exceeding $1 billion, according to a statement released by the bank on Thursday, April 16. The financing, structured over two years with a one-year extension option, ties its cost...

Uganda has selected Citibank to structure the financing for its standard gauge railway (SGR) project, estimated at $3.19 billion, in a new attempt to revive a strategic infrastructure project for regional trade. The Ugandan Ministry of Finance stated in a publication on X that Kampala is also in discussions with the World Bank to obtain...

Nigeria’s public debt reached 159,280 billion nairas (111 billion USD) as of December 31, 2025, up 10.1% from a year earlier, according to the Debt Management Office (DMO). This increase represents a rise of 14,610 billion nairas (10.2 billion USD) compared to the end of 2024. In the last quarter alone, debt surged by 3.9%,...

Fitch Ratings has confirmed Nigeria’s long-term foreign currency sovereign rating at “B” with a stable outlook, highlighting progress in economic reforms while also pointing out persistent vulnerabilities. In its report dated April 10, Fitch Ratings states that Nigeria’s rating reflects the size of the economy, a relatively developed domestic debt market, significant hydrocarbon resources, and recent improvements in the monetary and exchange rate framework. However, the rating is constrained by high inflation, a strong dependence on oil, weak governance indicators, security challenges, and structurally low public revenues. Reforms implemented since May 2023, including the partial liberalization of the foreign exchange…

International Finance Corporation (IFC) has concluded a 1.6 billion rand facility ($98 million) with Citigroup to increase its local currency loans in South Africa, the two institutions announced on Tuesday, April 14. This operation aims to support access to financing in rand for local businesses, in a context of currency volatility that complicates the use of foreign currency financing. The facility notably supported an anchor investment in a results-based bond issued by FirstRand Bank, an instrument whose payments are conditioned on the achievement of measurable results. IFC indicates that it has committed over $33 billion in local currency financing in…

The Central Bank of Namibia has revised downwards its economic growth outlook, now expecting an expansion of 2.6% in 2026 and 2.9% in 2027, according to a statement released on Monday, April 14. These new estimates represent negative revisions of 1.2 percentage points for 2026 and 1.4 points for 2027 compared to the December 2025 projections, mainly due to weaker than expected performance in primary industries. The Central Bank highlights that the slowdown is largely attributable to a marked contraction in metallic minerals production and the persistent weakness in the diamond sector, in a context of sluggish global demand. Namibia’s…

Moody’s maintains Ghana’s rating at Caa1 and has revised the outlook from stable to positive, citing an improvement in domestic financing conditions and a gradual stabilization of the macroeconomic framework. The agency highlights a decrease in domestic financing costs, supported by monetary easing and an improvement in the budgetary situation, as well as a resurgence of activity in the local bond market. The resumption of domestic debt issuance could gradually reduce refinancing risks if it continues. Ghana recently conducted its first 7-year bond issuance since 2023, following the lifting of restrictions on sovereign issuances in March following the Domestic Debt…

Kenya could lose up to $40 million per month in remittances from Gulf States due to the escalating conflict in the Middle East, the World Bank said in its latest economic report published in April. According to the institution, these flows, essential for many African economies, are exposed to the fallout of the conflict, which is impacting the employment of migrant workers, especially in construction and services. Data from March 2026 show one of the largest monthly drops in remittances to Kenya in recent years, with up to $40 million potentially at stake. A prolonged deterioration of the situation could…

The Nigerian banking group Zenith Bank has announced the opening of a subsidiary in Ivory Coast, with an expected launch date of April 29, 2026 in Abidjan. The subsidiary is set to focus on corporate services and trade financing in a market dominated by regional institutions and international group subsidiaries. The new entity, Zenith Bank...

The South African digital bank TymeBank has officially changed its name to GoTyme Bank, according to a notification published on Monday, April 13 by the South African Reserve Bank, finalizing a change initiated at the end of 2025. Beyond a simple rebranding, this evolution aims, according to the bank, to align the South African operations of the group with its identity used in Southeast Asia, particularly in the Philippines, Indonesia, and Vietnam. The group claims to have more than 15 million customers in total, including more than 10 million in South Africa. Launched in 2019, the bank surpassed the milestone…

The Central Bank of Nigeria (CBN) announced on Tuesday, April 7 that new guidelines for the Bank Verification Number (BVN) will come into effect on May 1, 2026, with the aim of reducing fraud and enhancing the security of mobile bank accounts. The new rules will limit the use of the mobile banking app to...

The World Bank has lowered its growth forecasts for Sub-Saharan Africa, anticipating an expansion of 4.1% in 2026, down from the 4.4% expected in October, amidst rising energy costs and increased uncertainties related to the conflict between the United States and Iran. According to a report released on Wednesday, April 9 by the Washington-based institution, growth is expected to remain at 4.1% in 2026, as in 2025, but the recovery is slowing down in a more challenging international context. Disruptions in the Strait of Hormuz, through which nearly 20% of the world’s oil passes, have led to an increase in…

Zenith Bank Plc has finalized the acquisition of the entire share capital of Paramount Bank Kenya Limited, marking its entry into the Kenyan banking market. The Nigerian bank confirmed the completion of the transaction in a statement signed by its Company Secretary, Michael Osilama Otu, without disclosing the amount. The transaction was completed after obtaining all the required regulatory approvals in Nigeria and Kenya. With this transaction, Zenith becomes the fourth Nigerian bank present in Kenya, joining United Bank for Africa, Guaranty Trust Bank, and Access Bank, already established in this key East African market. It is worth noting that…