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What we know so far about Ethiopia’s plan to open its banking sector to international players
For a long time, the banking sector in Ethiopia now has been dominated by local players, but recent policy changes could bring in foreign juggernauts.
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South Africa’s inflation forecast for 2025 drops ahead key interest rate decision
The report however predicts slower GDP growth and a weaker rand, raising concerns about the economic trajectory of Africa’s second largest economy.
South Africa: Absa’s shares surge as Standard Bank’s Kenny Fihla is appointed new CEO
Fihla’s appointment comes as the bank focuses on rebuilding investor trust following a challenging period marked by leadership instability and financial underperformance.
FiA weekly round up: All about credit ratings and FDI
Hello, African economies have been at the mercy of global credit rating agencies, and any efforts to raise loans is usually met with stringent conditions. That’s why the recent move to create s credit rating agency is super important. What is more important though, is our celebration of African women in Finance. South Sudan’s economy…
Standard bank group reports $2.4 billion in headline earnings in 2024
The African region’s earnings in local currency increased to 22%, enabling them to contribute 41% to the group’s total headline earnings.
Nigerian lawmakers approve tax overhaul but reject key changes
Major winners in the approved reforms include consumers and smaller companies as lawmakers scrap the proposed VAT hike and raise minimum tax threshold for domestic businesses.
South Sudan’s economy to contract by 30% as oil revenue plummets
South Sudan’s economy faces sharpest decline in years as failing oil revenues slash government income by $7 million daily, worsening inflation, poverty, and fiscal instability according to the World Bank
South Africa risks losing $762.3m in VAT revenue as budget deadlock persists
This would be the second time in two months that the country’s parliamentary parties have rejected the proposed spending plan over tax hikes.
Nigeria’s commercial capital, Lagos, now a $259bn economy—but at what cost?
Unlike its economic counterparts, Lagos has a strikingly low tax-to-GDP ratio, exposing a major revenue gap that threatens the fiscal sustainability of Africa’s most populous city.
Kenya’s new bank licensing fees may pose a threat to credit access
The new licensing fee structure signals an increase in the cost of banking business as profits may reduce by 3.1% in the next three years.
How Egypt received half of Africa’s total $95 billion FDI in 2024
Despite economic turmoil and humanitarian pressures from regional conflicts, Egypt’s bold market reforms have positioned it as a magnet for global investment.
Nigeria’s e-invoicing rules to hit companies earning over $66K
Nigeria’s digital tax invoicing may increase compliance costs for businesses earning over $66k, with concerns over infrastructure and implementation.
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