Author: Amadjiguéne Ndoye

Proparco has appointed Gonzague Monreal as director of its Financing department and member of its Executive Committee. He succeeds Emmanuelle Riedel-Drouin, who was appointed deputy general manager of the institution. In his new role, Gonzague Monreal will oversee all of Proparco’s lending and guarantee activities. The Financing department covers financial institutions, businesses, energy and infrastructure...

Coronation Merchant Bank has appointed Obeahon Ohiwerei as Chief Executive Officer (CEO), after obtaining the non-objection approval from the Central Bank of Nigeria, the institution announced. He succeeds Paul Abiagam, who led the bank during a period marked by the recapitalization of the institution, strengthening of governance, and digitization of several operational processes. With over...

The New Development Bank (NDB), known as the BRICS bank, has appointed South African economist Monale Ratsoma as Vice President and Chief Risk Officer, with effect from July 8th. The appointment was publicly announced on July 15, 2026 by the South African National Treasury and the NDB, following a decision by the institution’s Board of...

Absa Group’s market capitalization has decreased by around 22 to 23 billion rand (between $1.3 to $1.4 billion USD) since the beginning of 2026, based on its valuation at the end of 2025. This decline represents more than 10% of its share price over the period, according to market data from the Johannesburg Stock Exchange...

Nigeria plans to mobilize $500 million to finance agricultural investments in the Niger Delta, Vice President Kashim Shettima announced on Wednesday. The fund, presented at a summit dedicated to agriculture and investment in the region, is intended to cover several sectors, including rice, cassava, cocoa, palm oil, aquaculture, horticulture, fishing, and livestock. Its financing is expected to involve both public and private capital as well as resources from multilateral institutions, including the World Bank, the African Development Bank, and the Islamic Development Bank. The project comes as food prices remain high in Nigeria. Overall inflation stood at 15.91% in June…

The African Development Bank (AfDB) has approved $878.09 million in financing for Algeria for the second phase of the Laghouat-Ghardaïa-El Meniaa railway line, the institution announced. The operation will finance the construction of the Ghardaïa-El Meniaa section, which is 230 kilometers long and part of a 495-kilometer railway project connecting southern Algeria to the trans-Saharan...

Equity Bank Kenya has appointed Carole Kariuki, CEO of the Kenya Private Sector Alliance (KEPSA), as a non-executive independent director, strengthening its board of directors with an experienced leader from the private sector. This appointment was announced by the Nairobi Securities Exchange (NSE), where Carole Kariuki also serves on the board of directors. Leading KEPSA...

Nigerian President Bola Tinubu announced on July 14, 2026 that Nigeria intends to put an end to the export of raw cocoa beans in order to develop local processing and increase the value added of the sector. Speaking through the Minister of Agriculture and Food Security, Abubakar Kyari, at the Cocoa Value Addition Summit in...

Standard Bank has granted Helios Towers a 479 million rand, or $29 million, social documentary credit facility to finance the importation of telecommunications equipment and support the group’s working capital needs. The bank specifies that this is its first structured documentary credit facility as part of a financing in line with the Social Loan Principles...

The Central Bank of Kenya (CBK) has granted licenses to 25 new digital credit providers (DCPs), bringing the total number of licensed operators in the country to 252, according to an announcement published on July 14, 2026. These authorizations are issued under legislation adopted in March 2022, which opened the process of regulating the sector....

The National Bank of Ethiopia (NBE) raised its main interest rate to 16% on Monday, July 13, up from 15% previously, in a context of accelerating inflation and rising international oil prices. This is the first revision of this rate since 2024. Annual inflation stood at 13.4% in May, up from 11.7% in April. The...

The International Finance Corporation (IFC), a member of the World Bank Group, has launched a program in partnership with the Nigerian Exchange Group (NGX Group) and the Lagos Chamber of Commerce and Industry (LCCI) aimed at strengthening economic inclusion of women in Nigeria, with the support of public and private actors. Dubbed the Nigeria Gender Country Programme (NGCP), the initiative aims to support companies in adopting policies that promote greater participation of women in leadership positions, better access to skilled jobs, as well as financing, technology, and markets for women-led businesses. According to the program’s promoters, increased participation of women…

Allianz Partners has appointed Carsten Staat as Regional CEO for Asia-Pacific, Middle East, and Africa (APAC & MEA), with his start date set for August 1, 2026. He will oversee the group’s insurance and assistance activities in this region and will succeed Vinay Surana, who has been in the role for six years and will take on a senior advisor role to the CEO of Allianz Partners. Carsten Staat has been with the Allianz Group since 2001. He has been leading Allianz Partners Germany since 2022, after holding various leadership positions in insurance, distribution, and business development. In the APAC…

First Abu Dhabi Bank (FAB), the largest bank in the United Arab Emirates, is planning to apply for a banking license in South Africa, after establishing a first presence in West Africa with the opening of a representative office in Nigeria in February 2026. The South African Supreme Court of Appeal ruled in favor of...

The Central Bank of Nigeria (CBN) withdrew 1.06 trillion naira ($772 million) from the financial system in a Treasury bill auction, after injecting 2.21 trillion naira ($1.61 billion) through the repayment of maturing Open Market Operations (OMO) securities. The operation comes in a context of abundant bank liquidity, as banks had extra funds after the...

The President of the European Bank for Reconstruction and Development (EBRD), Odile Renaud-Basso, is making her first official visit to Senegal this week, where she will inaugurate the institution’s first office in Dakar and sign its first investment agreements in the private sector. This visit marks a new stage in the relationship between the multilateral...

The Bank of Tanzania has purchased approximately 28 tons of gold over the past 18 months to strengthen its international reserves, according to a statement from the Tanzanian Ministry of Finance published on Wednesday, July 8. These purchases, valued at around USD 3.68 billion at current gold prices, have brought the country’s international reserves to...

Kenyan President William Ruto signed into law on Monday, July 6, the reform of the Central Bank of Kenya (CBK) Act, which more strictly regulates the conditions for banks to access emergency funding from the regulator. The Central Bank of Kenya (Amendment) Act, 2026 establishes a legal framework for Emergency Liquidity Assistance (ELA), distinguishing between...

Adnoc Distribution, a subsidiary of the Emirati state-owned oil group Abu Dhabi National Oil Company (Adnoc), announced on Tuesday, July 7, the signing of a definitive agreement to acquire Shell’s fuel distribution activities in South Africa for an enterprise value of approximately 1 billion USD. The deal includes Shell’s 580 service stations in the country...

Standard Chartered has launched a new multi-asset fund dedicated to the Asia-Pacific markets, which will be offered to its private banking clients in Kenya and Nigeria as part of a partnership with asset manager BlackRock. Named Signature Select APAC Allocation Plus, the fund is the eighth compartment of Standard Chartered’s Variable Capital Company (VCC) platform...

FCMB Group Plc shareholders have approved the payment of a total dividend of 23.08 billion naira ($15.1 million) for the 2025 financial year, at its annual general meeting held in Lagos. This decision comes after a year of strong improvement in the financial performance of the group, driven by growth across all its activities. For...

GCR Ratings has upgraded FCMB Asset Management Limited’s long and short-term national ratings from A-(NG) to A(NG) and from A2(NG) to A1(NG), while maintaining a stable outlook. This decision comes in the context of improved financial performance and strengthened financial strength of the Nigerian asset manager. In 2025, FCMB Asset Management saw a 30% increase...

Egypt is preparing to implement a new series of tax reforms after the Parliament adopted the corresponding texts, announced Finance Minister Ahmed Kouchouk. These measures aim to lighten the tax burden, support businesses, and enhance the country’s attractiveness to investors. The new provisions include an exemption from VAT on goods in transit and associated services,...

The World Bank Group has approved a new Country Partnership Framework (CPF) 2026-2032 for Nigeria, with an initial financing of $1.25 billion to support the country’s economic priorities. This six-year roadmap aims to support reforms initiated by the Nigerian authorities to promote private sector-led growth, accelerate job creation, and improve access to essential services. The program includes supporting reforms to develop capital markets, modernize the digital regulatory framework, expand access to electricity, facilitate regional trade, improve agricultural productivity, and strengthen public revenues. According to the World Bank, the goal is to remove key obstacles to private investment to support sustainable…

The board of directors of I&M Group PLC has appointed Abdi Mohamed as the CEO of I&M Bank Kenya, subject to approval from the Central Bank of Kenya (CBK). This appointment follows his departure from Absa Bank Kenya, where he served as the CEO. His resignation took effect on June 30, 2026. Abdi Mohamed has...

Climate activists have filed a lawsuit against TotalEnergies, demanding the disclosure of environmental documents related to the sale of its stake in an onshore oil asset in Nigeria, according to Reuters. The action, filed in a French civil court, is based on the duty of vigilance law, which requires large French companies to identify and prevent environmental and social risks associated with their activities, including those of their partners and buyers. The asset in question was operated as part of the Shell, Eni, and TotalEnergies consortium and is located in the Niger Delta. TotalEnergies plans to sell approximately 10% of…

The Nigeria Deposit Insurance Corporation (NDIC) has started the process of liquidating 46 microfinance banks whose operating licenses were revoked by the Central Bank of Nigeria (CBN). In a statement released on Wednesday, July 1st, the NDIC stated that it has taken control of the assets and operations of the affected institutions, in accordance with...

The Africa Finance Corporation (AFC) has appointed Fola Fagbule as the director of its regional office in Nairobi, covering East and Central Africa. Based in Nairobi, he will oversee AFC’s investment operations in the region, including identifying and structuring infrastructure projects and mobilizing financing from institutional investors, governments, and financial partners. A member of AFC...

BCP Group and Western Union have launched a solution allowing for international money transfers with immediate credit to bank accounts in Morocco, the two institutions announced on Monday, June 29. The system is based on an integration via Application Programming Interface (API) between BCP Group and Western Union systems. Funds sent from abroad are now credited in real time to beneficiaries’ accounts in Morocco, without manual intervention or intermediate bank processing delays. The two groups have not disclosed the expected transaction volumes or an extended deployment schedule. The operation is part of the generalization of real-time payment infrastructures and the…

The World Bank has approved $1.25 billion in financing for Kenya, combining budgetary support and sustainability-linked financing, the institution announced on Tuesday, June 30. The package includes a Development Policy Operation (DPO) of $750 million, with $340 million through the International Bank for Reconstruction and Development (IBRD) and $410 million through the International Development Association (IDA). This is the seventh DPO granted to Kenya since 2018. A $500 million sustainability-linked facility, in the form of a syndicated loan backed by a credit enhancement, completes the operation. This new support comes as Kenya faces high levels of debt and a significant…