Author: Amadjiguéne Ndoye

Stanbic Holdings Plc anticipates a stronger revenue growth in the second half of 2026, driven by a recovery in loan demand after the interest rate cut in Kenya, said its CEO Joshua Oigara. The group recorded a net profit of 6.6 billion Kenyan shillings (about 51 million USD) in the first half, up 1% year-on-year....

Stanbic Bank Ghana has become the first bank in Ghana to offer its clients direct access to the Cross-Border Interbank Payment System (CIPS), the Chinese network for settling cross-border yuan payments, after obtaining approval from the central bank, Bank of Ghana. This implementation is part of the deployment of CIPS by the Standard Bank Group,...

The external reserves of Nigeria exceeded $52.5 billion as of July 17, 2026, their highest level since 2009, according to the Central Bank of Nigeria (CBN), which attributes this increase to the monetary reforms implemented over the past three years. According to CBN Governor Olayemi Cardoso, these reserves surpass the institution’s annual target. He also highlighted an improvement in the stability of the naira, with the gap between the official exchange rate and that of bureau de change narrowing to less than 2%. The central bank also reported that annual inflation stood at 15.91% in June, down from 15.93% in…

Capitec, the largest bank in South Africa in terms of number of clients, has officially changed its legal name from Capitec Bank Holdings to Capitec Limited, after approval of this resolution by shareholders at the annual general meeting on July 31, 2026. The change has been registered by the Companies and Intellectual Property Commission, making...

ArcelorMittal South Africa recorded a total loss of 1.489 billion rand (89.3 million USD) in the first half of 2026, compared to 1.014 billion rand (60.8 million USD) a year earlier, representing a 47% increase, reflecting the deterioration of the steel market conditions. The steelmaker attributes this development to the persistent weakness in demand in...

Emirates NBD has reached a definitive agreement to acquire the retail banking business of HSBC Bank Egypt, further strengthening its presence in the Egyptian market. The transaction is subject to regulatory approvals and customary closing conditions. As part of this transaction, Emirates NBD Egypt will take over HSBC Egypt’s retail customer portfolio, its branch and...

First HoldCo Plc has adopted a distribution policy that provides for the payment of at least 60% of its annual net profit to shareholders, subject to audited results and regulatory approvals. Approved on July 28 by the board of directors, this measure could increase the dividend to nearly 15 nairas per share for the 2026...

Foreign exchange inflows in Nigeria reached a record level of USD 109.86 billion in 2025, up 13.8% from 2024, according to the annual report of the Central Bank of Nigeria (CBN). This increase was mainly driven by flows from non-oil exports, capital imports, and over-the-counter (OTC) transactions. Currency outflows also increased by 27.8% to USD...

Telecom Namibia has extended the mandate of its acting CEO, Armando Perny, by six months. He will remain in office from August 1, 2026, to January 31, 2027, to ensure continuity of leadership during the transition at the helm of the company. Armando Perny was appointed to this position after the departure of Stanley Shanapinda,...

The Tanzanian bank NMB has secured financing of 262.5 billion Tanzanian shillings (100 million USD) through a five-year bond denominated in local currency and listed on the London Stock Exchange (LSE). The transaction is presented as a first for a financial institution in East Africa. Issued by the International Finance Corporation (IFC), the bond offers...

The Nigerian financial services group United Capital plans to increase the assets it manages to 3 trillion nairas ($2.2 billion), after reaching its previous target of 1 trillion nairas ($733 million) before the originally set deadline. Its CEO, Peter Ashade, stated that the group would continue its expansion in Africa and planned to launch new activities in the second half of 2026. United Capital operates in 12 African countries, including Rwanda and Ethiopia. Since 2018, the group has expanded its activities to several segments, including investment banking, asset management, securities custody, wealth management, microfinance, digital banking, and consumer credit. In…

Visa has appointed Anne Kinuthia-Otieno as Vice President and Head of its operations in East Africa, with her start date scheduled for August 4, 2026. In this role, she will oversee the group’s operations in seven East African markets and be responsible for developing Visa’s activities in the region. Anne Kinuthia-Otieno joins Visa after leading Airtel Money Kenya from September 2021 to March 2026. Prior to this, she held various senior roles at Absa and Barclays Bank, including in retail banking, SME services, product development, and risk management. According to data from the Communications Authority of Kenya, Airtel Money’s share…

The Saudi Export-Import Bank (Saudi EXIM) has entered into a reinsurance agreement with the African Trade and Investment Development Insurance (ATIDI) to further cover risks related to Saudi exports to African markets. The agreement covers export credit operations and is intended to allow Saudi EXIM to transfer some of the risks associated with transactions carried out on the continent. The financial terms and amount of coverage have not been disclosed. This operation is part of a series of reinsurance agreements concluded by Saudi EXIM with export credit agencies and international insurers. The bank notably signed an agreement with Euler Hermes,…

Standard Chartered raised its annual revenue growth forecast on Wednesday, July 29, after reporting better-than-expected half-year results. Pre-tax profit stood at $4.78 billion in the first half, up 9% year-on-year, compared to the analysts’ expected $4.52 billion. The bank now aims for revenue growth close to the middle of its 5% to 7% range, as...

The Central Bank of Nigeria (CBN) imposed 21 sanctions totaling 430 million nairas (315,000 USD) on financial institutions in 2025 for failures in handling customer complaints and non-compliance with its directives. According to its annual report, the CBN received 23,129 complaints from financial services customers in 2025, a 10.53% increase from the previous year when...

The average maximum rate applied by Nigerian banks to loans decreased to 33.16% in June, down from 34.78% a month earlier, according to the latest data from the Central Bank of Nigeria (CBN). This decline comes as the CBN has kept its benchmark rate at 26.5%. The Monetary Policy Committee has maintained this level since...

Moody’s Ratings confirmed on July 23 the Baa1 rating of the West African Development Bank (BOAD), as well as its senior unsecured foreign currency obligations. The junior subordinated debt rating remains at Baa3. The outlook remains stable. The agency highlights the strengthening of the regional bank’s financial structure, supported by the increase in equity and the improvement in asset quality. The risk-adjusted capital ratio reached 23.8% in 2025, up from 21.5% in 2024. Usable equity has increased by 73% since 2021, following the capital increase in 2022. The financial institution has also increased its use of hybrid instruments and risk…

Misr Life Insurance, a subsidiary of the state-owned Banque Misr group, is preparing for its introduction to the Egyptian Stock Exchange (EGX), with a target for listing before the end of 2026, said Mohamed Farid, Minister of Investment and Foreign Trade. Discussions with investors, company valuation, and technical work related to the operation are ongoing....

The South African Reserve Bank (SARB) maintained its repo rate at 7% on Thursday, July 23, leaving the prime rate at 10.5%. However, the split vote within the Monetary Policy Committee leaves the door open for a potential further monetary tightening. Four members voted for the status quo, while two were in favor of a...

Airtel Africa plans to introduce its financial services branch Airtel Money on the London Stock Exchange by the end of 2026, subject to market developments and obtaining necessary regulatory approvals. The African subsidiary of Bharti Airtel indicated that the listing should allow for a separate valuation of this activity, which is now growing faster than...

Dangote Petroleum Refinery and Petrochemicals has raised approximately $2.5 billion through a private placement of shares to strengthen its financial capabilities and finance its development, the company announced. The operation marks the first opening of the refinery’s capital to external investors beyond its historical shareholders. According to the company, it also represents the largest publicly...

BANK OF AFRICA has arranged an international syndicated financing of 300 million USD for the construction of a 160-kilometer road linking Labé to the Bafing River valley, via Banti and Tougué, according to a statement from the banking group. The operation was structured by BANK OF AFRICA United Kingdom PLC, which acts as the global coordinator and mandated arranger. The financing is intended to support the construction of this infrastructure, which is a priority for Guinea in terms of transportation. According to the group, this is Guinea’s first operation in the international syndicated loan market. The structure also includes an…

SBM Bank Kenya recorded a pre-tax profit of 548 million Kenyan shillings (4.2 million USD) in the first half of 2026, up 171% year-on-year, according to its financial results. Customer deposits reached 94 billion shillings (726 million USD). Net loans and advances grew by 18% to 54.1 billion shillings (418 million USD). Net interest income stood at 2.2 billion shillings (17.0 million USD), while non-interest income increased by 54% to 1.39 billion shillings (10.7 million USD). Total operating income increased by 35%, compared to a 12% increase in operating expenses. The gross non-performing loan ratio decreased to 17.3%, from 32.4%…

Absa Group is in discussions with Tanzanian authorities to consolidate its banking activities in the country, an operation that could bring the assets of the combined entity to around USD 3 billion, Bloomberg reported. The project involves the National Bank of Commerce (NBC), 55% owned by Absa and 30% by the Tanzanian government, absorbing the...

Léna Tall Faye was elected president of the National Union of Building and Public Works (SNBTP), following a meeting of the Board of Directors held on July 21, 2026 in Dakar, the organization announced in a statement. CEO of Delta SA, a Senegalese family business founded in 2002 and specialized in sanitation and construction, she...

Nedbank Group plans to acquire approximately 66% of the Kenyan NCBA Group for around 13.9 billion rand (USD 794 million), a move that will strengthen the South African bank’s presence in East Africa. The partial offer will be settled by issuing around 43.6 million new Nedbank shares and paying 23.24 billion Kenyan shillings (USD 180...

The World Bank approved a $1.5 billion loan, approximately 24.8 billion rand, for South Africa on July 21, 2026. This is the fourth development policy financing granted to the country since 2022. The program mainly covers the electricity, transportation, and water sectors. According to the World Bank, reforms in energy and transportation could contribute to the creation of nearly 600,000 jobs by 2032, including around 280,000 in the next year. The financing comes as power outages have significantly decreased over the past 18 months. Private investments in renewable energy have tripled, and rail and port freight volumes have increased by…

Nigerian Access Holdings has reduced its stake in Access Bank Ghana Plc to 85.96%, down from 93.40% previously, after selling 12.09 million ordinary shares, representing 7.44% of the capital, on the Ghana Stock Exchange. The transaction was carried out by Access Bank Plc, the Nigerian group’s banking subsidiary, after obtaining approval from the Bank of Ghana. Since the shares sold were existing securities, the proceeds of the transaction go to the selling shareholder and not to Access Bank Ghana. Despite the reduction in its stake, Access Holdings still holds a significant majority of the capital of its Ghanaian subsidiary and…

Africa50 has appointed Djalal Khimdjee as the Chief Executive Officer (CEO) of the Africa50 Principal Investment Fund, formerly known as Africa50 Project Finance, with his appointment scheduled to begin on August 1, 2026. He joins the pan-African investment platform after serving as the Deputy CEO of Proparco, the subsidiary of the French Development Agency (AFD)...

The Egyptian Micro, Small and Medium Enterprise Development Agency (MSMEDA) has made available a financing line of 550 million Egyptian pounds (EGP), approximately USD 10.7 million, to Fawry MSME Finance, a subsidiary fully owned by Fawry for Banking Technology and Electronic Payments. This funding includes 300 million EGP for microenterprises and 250 million EGP for small and medium enterprises. It aims to expand access to credit for MSMEs in the country. Fawry plans to deploy these funds through its digital credit platform, which relies on data-driven risk assessment tools. According to the company, the funding is intended to meet working…