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Nigeria’s open rails turned cashless payments into a trillion-naira success. Card exclusivity now risks undoing the gains, raising costs and stifling competition.
NGX slipped 0.94% as value rose 5.7% on selective big-ticket trades. Breadth stayed weak, but Thursday’s broad rally and financials’ heavy volumes set the tone for a tactical week ahead.
Rand-driven cost relief gave firms much-needed breathing space, but tepid demand and renewed job losses show that momentum remains uneven.
Although the rise in local currency suggested growth, the shilling’s sharp depreciation—averaging KSh 139.9 per dollar in 2023 versus KSh 117.9 in 2022—led to an 8.77% ($972.8m) drop in dollar terms, reversing the 11.9% ($1.3bn) gain recorded in 2021.
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There are growing expectations that the US Federal Reserve could cut interest rates in September 2025—a move that may pave the way for cheaper external borrowing for Nigeria before year-end.
NGX closed −0.50% as turnover cooled (3.20bn shares, ₦85.40bn) and breadth narrowed (32 gainers vs 57 losers). Dividend plays led. New week: watch 141,000 on ASI and flows in banks/consumer names now.
The Islamic lender also assured that it is on track to meet the October 31, 2025, deadline for migration to ISO 20022, saying its core payment infrastructure is already enabled for the new standard.
Tracking the ups and downs of Egypt’s biggest companies just became easier. On August 17, 2025, the Egyptian Exchange (EGX) unveiled its first-ever mobile app, giving investors real-time access to market data directly from their phones—anywhere in the world.
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