Revolut has appointed banking veteran Gaby Magomola and applied for a South African banking licence, signalling a shift from payments to regulated digital banking.
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The funding will allow the lender to issue more letters of credit, guarantees, and collections, helping clients navigate Ethiopia’s foreign-currency-constrained market.
Nigeria’s pause echoes the Bank of Uganda’s decision earlier this month to keep its key lending rate unchanged at 9.75% for the fifth consecutive policy meeting, despite inflation falling to a seven-month low in October.
The long-awaited upgrade reflects marked progress in restructuring Zambia’s external debt, and a strengthening economic backdrop, driven largely by a rebound in copper production.
Africa’s most industrialised economy is among several across the continent easing monetary policy this year. Zambia cut its key lending rate for the first time in more than five years, while Nigeria, Ghana, Egypt, and Kenya have also lowered rates.
Revolut has appointed banking veteran Gaby Magomola and applied for a South African banking licence, signalling a shift from payments to regulated digital banking.
Nigeria’s headline inflation rate fell for the seventh consecutive month in October 2025, dropping to 16.05%, according to the Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS).
The surge comes amid mounting economic pressures and social instability, challenging the country’s long-standing reputation as one of Africa’s most peaceful and stable economies.
he move makes JPMorgan the first US bank to re-enter the Angolan market since major international lenders withdrew in the mid-2010s over compliance concerns.
The Bank of Zambia has reduced its key lending rate for the first time in over five years, citing slowing inflation in Africa’s second-largest copper and cobalt producer.
Data released Monday by the country’s statistics agency, CAPMAS, showed that inflation climbed to 12.5% in October 2025 from 11.7% in September — marking the first acceleration since May.
While the IMF acknowledges that currency swaps can ease short-term fiscal pressure, it warned that such arrangements can expose countries to new forms of volatility.
The decision comes three days after S&P Global Ratings upgraded the country’s sovereign rating outlook to “positive” from “stable,” citing stronger growth prospects and rising per capita income.
The upgrade reflects Uganda’s stronger growth momentum relative to peers and expectations that major oil developments will begin to come onstream by late 2026.
The survey, which reflects the views of 130 CEOs across Southern, East, and West Africa, shows that 26% intend to allocate more than 20% of their annual budgets to AI adoption. This is nearly double the global average of 14%.
Nigeria’s latest Eurobond issuance could keep the country’s external debt-to-total debt ratio slightly above the Debt Management Office (DMO) threshold of 45% by year-end, according to analysts at CSL Research.
This marks an increase of 192% from the same period in 2024, driven primarily by a narrower loss in its Ethiopian operations and sustained growth in mobile money and data services.
Revolut has named ex-Mastercard executive Yacine Faqir as CEO for Morocco, deepening its North Africa push and signalling a shift toward locally led digital banking expansion.
New data from Africa: The Big Deal shows that start-ups on the continent raised $2.65bn between January and October 2025, up 56% from $1.7bn in the same period last year.
The exemptions and reliefs—announced by Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, on Monday—represent one of Nigeria’s most comprehensive efforts to simplify taxation, promote equity, and encourage compliance.
The 160-basis-point increase from 1.9% in August marks a shift in the Bank of Botswana’s monetary stance after more than two years of steady easing.