Author: Amadjiguéne Ndoye

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...

The Brazilian oil company Petrobras has finalized the acquisition of a 27.5% stake in block 4, located in São Tomé and Príncipe, joining a consortium including Shell (operator, 30%), Galp (27.5%) and ANP-STP (15%). The company has been active in the country since February 2024, after acquiring 45% of blocks 10 and 13 and 25%...

Financing costs in South Africa, Nigeria, and Kenya have significantly increased over the past five years, according to a report released on September 15 by credit rating agency Moody’s Ratings and cited by Reuters. This trend affects governments, banks, and businesses, making it difficult to raise the necessary capital to support growth. Moody’s blames political...

Old Mutual, the South African insurance giant, released its financial results for the first half of 2025 on September 10, 2025, highlighting a mixed performance. The data shows that operating profits increased by 16%, reaching 4.94 billion rand (260 million USD), supported by the strong performance of Old Mutual Insure and favorable market conditions. However,...

Greenus Capital Limited, a financing company based in Lagos, has raised $23 million for Johnvents Industries Limited to accelerate its activities in agricultural transformation. The announcement was made on September 7, 2025. Structured as a loan, the financing was arranged by Greenus Capital, acting as a financial advisor, initiator, and arranger, with the participation of...

The deep-water port project in Ndayane has just reached a key milestone with the signing of an amendment between Dubai Port World (DP World), a global logistics and port terminal giant, and the State of Senegal. The objective is to strengthen the financing and development of this strategic infrastructure. The signing ceremony took place on...

The Central Bank of Nigeria (CBN) has launched the Nigeria Payments System Vision 2028 (PSV 2028), a strategic framework for the country’s digital payment ecosystem for the next three years. This new framework succeeds the PSV 2025, which is soon to expire, and will serve as a guiding model for digital payments in Nigeria. According...

Afreximbank and the Shelter Afrique Development Bank (ShafDB) have signed a framework agreement under the Joint Project Preparation Mechanism (JPPF) on the sidelines of the Intra-African Trade Fair (IATF 2025). The aim is to mobilize at least $1 billion to accelerate the development of housing, infrastructure, and special economic zones in Africa. The partnership targets...

Barrick Mining (ABX.V) announced on Wednesday, September 10, the sale of its last operating gold mine in Canada, Hemlo, to Carcetti Capital (CARTh.V) for an amount that could reach 1.09 billion USD. This transaction marks the end of its historical mining presence in Canada, while reaffirming its strategy of refocusing on Africa, where the company...

The Central Bank of Kenya (CBK) has officially obtained the ISO/IEC 20000-1:2018 certification, an international standard for IT service management (ITSM). This certification ensures that its IT services are reliable, efficient, and secure, and serves as a guarantee of excellence and compliance with global standards. “This certification marks an important step in our journey towards...

Standard Bank South Africa has appointed David Hodnett as the new CEO, following the recent departure of Sim Tshabalala, a key figure at the bank since 2013. The newly promoted executive was previously the group’s Chief Risk Officer. Under Sim Tshabalala’s leadership, the bank solidified its position as a continental leader with a net profit...

Three major financial institutions will play a central role in achieving the Central Bank’s ambition to increase reserves from diaspora remittances to 1.5 trillion naira (1 billion USD) by 2026. These institutions include Zenith Bank, Access Bank, and Fidelity Bank, as mentioned by Governor Olayemi Cardoso, who stated that these banks are key players in...