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Jamaica becomes 13th CARICOM member of Afreximbank, gains $1.5bn in financing

Jamaica has officially joined Afreximbank, becoming the 13th Caribbean Community (CARICOM) nation to sign the bankโ€™s Establishment Agreement. The milestone unlocks $1.5 billion in new financing for the country.

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Kenya cuts corporate tax for startups, large firms by 15% to drive investments

The tax reforms also provide a dividend withholding tax exemption for NIFC-certified firms that reinvest at least $1.9 million (KES 250 million) of their annual earnings into the Kenyan economy.

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Egypt’s investment inflows from AU countries plunge 93% in 2024

The slump in intra-African investments contrasts sharply with Egyptโ€™s rising global profile as a top destination for foreign capital on the continent based on recent data from the UN.

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Nigeriaโ€™s debt office denies $401m US bond servicing claim for March

In a statement issued on Thursday, the debt office clarified that the actual amount used for servicing the bond was $44.6 million, not the $401.1 million being cited in some media reports.

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Egypt holds rates for first time in 5 months amid inflation concerns

Another key factor behind the CBEโ€™s decision to hold rates is the governmentโ€™s recent VAT reform package, announced on June 29. The amendments seek to broaden the tax base without raising the general 14% VAT rate.

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Kenya’s central bank raises $514m in July bond auction, exceeds $386m target

Kenyaโ€™s domestic debt market kicked off the 2025/26 fiscal year on a bullish note, as investors continued their pivot toward long-term government bonds in search of higher yields and stability.

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AfDB approves $50m trade facility to accelerate SME growth in Ethiopia

AfDB has approved a $50 million Trade Finance Transaction Guarantee Facility for Awash Bank, one of Ethiopiaโ€™s largest private lenders, as part of its ongoing efforts to expand access to trade finance for SMEs and local corporates.

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Ecobank eyes $250m capital boost to support pan-African growth

Ecobank Transnational Incorporated (ETI), a pan-African banking group, has announced the launch of a $250 million Additional Tier 1 (AT1) capital raise via a private placement of contingent convertible notes.

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Nigeriaโ€™s GTCO hits โ‚ฆ3trn market cap on London Stock Exchange debut

GTCO saw its valuation rise to the N3trn mark as it listed on the London Stock Exchange on Wednesday, cementing its position as the biggest lender by market capitalisation on the Nigerian Exchange Limited

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Ethiopia moves to ease tax burden on workers amid high inflation

Ethiopiaโ€™s new income tax proposal promises relief for workers through higher thresholds, but raises key questions about its ripple effects on business taxes and government revenue

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Ethiopia gets $1 billion World Bank support to boost reforms

Ethopia signs $1 billion agreement with the World Bank, in the deal is included a $650 million grant and a $350 million concessional loan, aimed at stabilising the financial sector, boosting economic competitiveness, and strengthen the revenue system

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Nigeria gains wider UK trade access amid $1bn export dip

The UK is the second major economy, after China, to move to deepen trade ties with African nations amid a global trade war sparked by U.S. President Donald Trumpโ€™s sweeping tariffs announced on April 1.

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Kenyaโ€™s business activity hits 11-month low on weaker demand, protests

Kenyaโ€™s private sector activity fell to an 11-month low in June 2025, as weak consumer demand, economic headwinds, and renewed protests dragged performance.

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Ethiopiaโ€™s capital market gets $400,000 lift from African Development Bank

The African Development Bank (AfDB) has approved a $400,000 grant to bolster Ethiopiaโ€™s nascent capital market ecosystem.

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Namibiaโ€™s central bank orders 25bps cut in lending rates by December

With its latest move, the central bank aims to lower Namibiaโ€™s interest rate margin from 3.7% to align with other Common Monetary Area (CMA) countries such as South Africa and Lesotho, where margins stand at 3.5%.

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South Africa’s inflation rate to drop 3.9% in 2025

This marks the first time in over four years that current-year inflation projections have dipped below 4%, strengthening the central bankโ€™s case for a lower inflation target.

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Nigeriaโ€™s Zenith Bank joins West African lendersโ€™ race for Kenya

The lenderโ€™s latest move comes weeks after Access Bankโ€™s – Nigeriaโ€™s biggest bank โ€” received regulatory approvals from both counties to acquire National Bank of Kenya Limited (NBK) from KCB Group.

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Moodyโ€™s downgrades Afreximbank on rising sovereign exposure risk

Moodyโ€™s has downgraded Afreximbankโ€™s credit rating to Baa2, citing rising risks from its exposure to debt-distressed African sovereigns, particularly Ghana and Zambia

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IMF commends Tinubuโ€™s tax reform, projects Nigeriaโ€™s GDP to grow by 3.4% in 2025

The International Monetary Fund (IMF) has commended President Bola Tinubuโ€™s tax reform bills, describing them as a significant step towards boosting revenue mobilisation and creating fiscal space for development spending while maintaining debt sustainability.

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Ghanaโ€™s inflation slows for the sixth straight month in June to 13.7%

According to Government Statistician Alhassan Iddrisu, the continuous decline signals that the underlying causes of the inflation โ€” high food costs, currency depreciation and global supply chain bottlenecks โ€” were easing.

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Jamaica has officially joined Afreximbank, becoming the 13th member from the Caribbean Community, unlocking access to $1.5bn in new financing as part of a growing African-Caribbean economic alliance.


Kenya has introduced new tax incentives for both startups and large firms operating under the Nairobi International Financial Centre (NIFC), cutting corporate income tax rates by up to 15% to boost foreign investments.


Egypt recorded a steep decline in regional investments in 2024 as capital inflows from AU countries dropped by 93% to $831.2 million in 2024, according to data from CAPMAS.


Nigeriaโ€™s Debt Management Office has refuted media reports claiming that the federal government spent $401.1m in March 2025 to service its first-ever US dollar-denominated bond issued in the domestic market.


Egyptโ€™s central bank has held its key interest rate at 25% for the first time in five months, pausing its easing cycle to curb inflation and assess recent fiscal reforms.


Kenyaโ€™s CBK raised KSh 66.7bn ($514.5m) in its July bond auction, surpassing the KSh 50bn ($385.8m) target as investors flocked to long-term bonds.


The African Development Bank (AfDB) has approved a $50m trade finance guarantee for Ethiopiaโ€™s Awash Bank to boost support for SMEs and local corporates. The facility aims to boost intra-African trade under the AfCFTA framework.


Ecobank Transnational Inc. (ETI) has launched a $250m Additional Tier 1 capital raise via private placement of contingent convertible notes to boost its balance sheet and support long-term growth across more than 30 African markets.


Guaranty Trust Holding Company Plc (GTCO) has hit a major milestone on Wednesday, crossing the โ‚ฆ3 trillion ($1.96 billion) market capitalisation mark following its debut on the London Stock Exchange (LSE)


Ethiopiaโ€™s formal sector employees may soon enjoy a lighter tax burden, as the government moves to raise the tax-free threshold and adjust the top tax bracket to reflect inflation, and exchange pressures.


Ethiopia lands $1 billion from the World Bank, in a bid to fuel economic reforms and stabilise its financial system following the IMF’s latest approval of $262 million in funding.


The United Kingdom (UK) has expanded Nigeriaโ€™s preferential trade access, offering duty-free entry and reduced tariffs on over 3,000 products, following a $1 billion drop in UK imports from the West African nation in 2024.


Kenyaโ€™s private sector activity fell to an 11-month low in June 2025, as weak consumer demand, economic headwinds, and renewed protests dragged performance, according to the Stanbic Bank Kenya Purchasing Managersโ€™ Index (PMI).


The African Development Bank (AfDB) has approved a $400,000 grant to strengthen Ethiopiaโ€™s emerging capital market, marking a significant boost to the countryโ€™s financial sector reform agenda.


In a bid to narrow the gap between policy and market rates, Namibiaโ€™s central bank has ordered all commercial banks to reduce their lending rates by 25 basis points in two phases before the end of 2025.


South African analysts, business leaders, and trade unions have revised the country’s 2025 inflation expectations down to 3.9% from 4.4% in 2024, paving the way for further interest rate cuts by the SARB.


Zenith Bank, Nigeriaโ€™s second-largest lender, is in advanced talks to acquire a tier-two Kenyan bank, in a move that signals the growing push by Nigerian banks to expand into East Africaโ€™s largest economy.


Moodyโ€™s has cut the Afreximbankโ€™s credit rating to Baa2, just two notches above junk, citing weak asset performance and growing exposure to distressed sovereign borrowers like Ghana and Zambia.


The International Monetary Fund (IMF) has commended President Bola Tinubuโ€™s tax reforms, describing them as a crucial step toward strengthening Nigeriaโ€™s fiscal position and boosting economic growth


Ghanaโ€™s annual inflation dropped for the sixth consecutive month in June to 13.7%, marking the lowest level recorded since December 2021, according to official data released Wednesday.