Author: Amadjiguéne Ndoye

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…

South African banking group FirstRand has announced its withdrawal from the UK market after a 17.7 billion rand (1.1 billion USD) accounting impact related to its auto financing activities. FirstRand will divest from its UK subsidiary, Aldermore Bank, after new regulatory requirements and a redress scheme imposed by the Financial Conduct Authority (FCA) made consumer financing operations unviable. The group increased its provisions for poorly sold auto loans from 510 million pounds (740 million USD) to 750 million pounds (1.1 billion USD), surpassing the 275 million pounds (405 million USD) in cumulative profits generated by the auto division over the…

Endeavor South Africa has closed its venture capital fund Harvest III, which raised 230 million rands ($12.65 million USD) to support the growth of high-growth technology companies in the country. The co-investment fund, structured to invest alongside experienced lead investors, primarily focuses on companies at the Series B and advanced development stages. Harvest III follows the success of Harvest Fund II and reflects the growing optimism towards the South African technology ecosystem. After an initial closing of 190 million rands ($10.45 million USD) in October 2024, the fund has already invested in several high-growth companies, including GoTyme Bank, Onafriq, Entersekt,…

AXIAN Energy, a renewable energy producer, has finalized the financing of a major solar project in southern Senegal, strengthening the momentum of private investments in the country’s energy sector. The company announced on Thursday the financial closing of the NEA Kolda photovoltaic plant in the south of the country, a 90 million euro project located in Casamance, with a capacity of 60 MWc coupled with a 72 MWh battery storage system (BESS). The financing, amounting to 72 million euros, was structured by the Emerging Africa and Asia Infrastructure Fund and FMO, with the participation of DEG, illustrating the appetite of…

The Central Bank of Nigeria has announced the completion of its banking sector recapitalization program, launched in March 2024, stating that institutions have raised a total of 4,650 billion nairas ($3.1 billion) over a period of two years. According to the regulator, 33 banks have met the new minimum capital requirements, while a limited number of institutions remain subject to regulatory and judicial monitoring. The central bank clarified that the entire system remained operational during the process. The recapitalization aimed to strengthen the banking sector’s capacity to absorb shocks and support economic financing in a context of macroeconomic volatility and…

Standard Bank processed over 164,000 billion rand (USD 8.692 trillion) in payments in 2025 for its 20 million customers, approximately 300 million rand (USD 16 million) per minute. Individual payments totaled 2.3 billion, up 9% from 2024, while cross-border flows increased by 12%. In a report published on Monday, March 30, the banking group claims a market share of 31% in South Africa and 17% across all its African markets, consolidating its position as the largest transactional franchise on the continent. “Behind these figures lies an integrated and deliberate payment strategy, covering traditional infrastructures such as national electronic payments, card…

In a press conference in Dakar on Thursday, March 26 in Dakar, the Minister of Finance and Budget of Senegal, Cheikh Diba, strongly denied recent information from the Financial Times mentioning an undisclosed debt of 650 million euros. He insists that these information do not reflect reality. The minister explained that the Total Return Swaps (TRS) are part of the financing plan for 2025, approved by the National Assembly through the budget law and its amending budget. These operations have enabled the mobilization of 721 billion CFA francs (1.10 billion euros) on the regional market at an average rate of…

The 7th edition of the BRVM Awards 2026 opened on Thursday, March 26 in Dakar, for the second time in its history. Under the theme “BRVM at the crossroads of technology and sustainability for better financing of UEMOA economies”, the ceremony honors the best market performances, technological innovations, and sustainable finance initiatives. Edoh Kossi Amenounvé presented an ambitious vision for the regional market. Artificial intelligence, big data, and blockchain are already transforming risk management, market surveillance, and customer relations. “The question is no longer whether these technologies will have an impact, but at what speed we will be able to…

The Central Bank of Nigeria (CBN) has been named “Central Bank of the Year” at the 2026 Central Banking Awards, a recognition that comes after a marked change in the country’s economic policy. This distinction follows a series of reforms initiated since late 2023 by the governor of the apex bank, Olayemi Cardoso, including the abandonment of several unconventional interventions, opting for monetary tightening and greater transparency in the management of the foreign exchange market. Nigeria was previously facing high inflation, a shortage of foreign currency, and a significant distortion in the exchange rate. The exchange market reform, marked by…

Old Mutual plans to launch its bank, OM Bank, to the general public later in 2026, marking its entry into the South African banking market. The group, primarily active in insurance, aims to expand its operations and strengthen its relationship with customers through an integrated offering of financial services. The insurance giant will thus join a South African banking sector dominated by Absa, Standard Bank, Nedbank, and FirstRand, which recorded combined profits of 152 billion rand (approximately USD 9 billion) in 2025. CEO Jurie Strydom stated that the bank is not only aiming for diversification but also for strengthening customer…

Senegal has raised 650 million euros through undisclosed loans, as the country faces increasing pressure on its finances and tries to renegotiate a $1.8 billion aid program with the International Monetary Fund (IMF), according to the Financial Times. In its publication on Monday, March 23, the newspaper notes that the funds were obtained last year...

The Bank of Ghana (BoG) has lowered its key rate by 150 basis points, bringing it down from 15.5% to 14%. This reduction is larger than expected by the markets, made possible by the decline in inflation. This decision, announced at the end of the 129th meeting of the Monetary Policy Committee (MPC) held from March 16 to 18, 2026, marks the continuation of the monetary easing cycle initiated after the debt crisis that had severely destabilized the Ghanaian economy, leading the country to seek support from the International Monetary Fund (IMF). Annual inflation has significantly slowed to 3.3% in…

Adenia Partners announced on Thursday, March 19, 2026, that it has reached the hard cap of $180 million at the first close of its new fund dedicated to small and medium-sized enterprises in Africa. The vehicle, named Adenia Entrepreneurial Fund I (AEF), exceeds its initial target of $150 million and brings the total capital raised by the company to over one billion dollars. The fundraising was completed in less than a year. “Achieving our hard cap at the first close and in less than a year reflects strong conviction in both our strategy and the African entrepreneurial ecosystem. Adenia and…

Kenyan banking group Equity Group Holdings recorded a net profit of 580 million USD in 2025, up 55% from the previous year, supported by the growth of its activities in East and Central Africa. With this result, described as a “record”, the board of directors proposed a total dividend of 167 million USD, an increase of more than a third compared to 2024. During the 2025 financial year, revenues reached nearly 1.67 billion USD, up 12%, while the cost-to-income ratio improved to 51%, reflecting cost control in a context of regional expansion. The total balance sheet stood at 15.2 billion…