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Backed by the Central Bank of Nigeria (CBN), the country has unveiled its first Bank Neutral Cash Hub (BNCH), a move to curb theft, risk, and high cost of moving cash across locations.
Banque pour le Commerce et l’Industrie Mer Rouge (BCIMR), which controls nearly half of Djibouti’s banking market, is preparing an entry into Ethiopia’s recent liberalised financial sector.
In July, the CBN announced that eight banks had met their revised capital requirements, well ahead of the March 2026 deadline.
The softer financial results coincided with a quarterly increase in fraud, with 35 incidents reported during the three-month period from 29 cases in Q4 last year.
The outturn also marked an acceleration from the 5.3% growth recorded in Q1, making it the fastest pace since Q3 2024, when growth reached 7.2%.
Dangote Cement Plc, Africa’s biggest cement producer, is expanding into Botswana with a new plant that will lift its operations on the continent to 12 countries.
With 5,150 megawatts of capacity, Africa’s largest hydro project positions Ethiopia among the world’s top power producers.
Analysts warn the upswing may be short-lived, with the outlook for the rest of the year overshadowed by punitive US tariffs
The move, if implemented, would mark a break from the apex bank’s long tightening cycle and the first cut since September 2020.
Consumer prices dropped for the eighth consecutive month to 11.5% in August 2025 from 12.1% in the previous month, marking the lowest level since October 2021.
The stalemate comes at a delicate moment for Africa’s most industrialised economy, already grappling with the devastating fallout of a 30% US tariff hike — the highest rate across the continent.
The Bank of Ghana has barred five international remittance operators from handling transfers for a month, citing unauthorised dealings with local payment firms, a move to enforce regulatory compliance.
Mamo Mihretu has stepped down as governor of Ethiopia’s central bank, a post he has held since January 2023 amid sweeping economic and monetary reforms.
The recovery in the sector comes even as inflation climbed for a second month, hitting 4.5% in August, the highest since July 2024.
The talks come amid mounting pressure to secure fresh concessional loans to ease the burden of rising debt in the East African nation.
Nigeria’s Securities Exchange suspended three insurers for missing filing deadlines, with two now compliant and awaiting suspension lifts.
The Federal High Court has ordered Unity Bank’s shareholders to vote on a merger with Providus Bank, a move that would see the century-old lender dissolve without winding up.
This marks the third rate reduction in 2025, reflecting cooling inflation alongside faster growth. Preliminary data showed Egypt’s economy expanded 5.4% in the second quarter, up from 4.8% in the first.
Kenya’s statistics agency attributed the uptick in inflationary pressures during the period to rising food, transport and utility costs, which together account for 57% of the consumer basket.
Nigeria’s headline PMI has surged, reaching a 19-month high, buoyed by rising new orders, increased output, and stable inflation, with inflation projected to keep rising in the near term.