MTN Nigeria became the most valuable firm on the Nigerian stock market on Tuesday, reaching a market capitalisation of ₦9.48trn ($6.18bn), overtaking Airtel Africa.
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Two days after acquiring CHI Limited, UAC of Nigeria’s share price has surged, making it the 36th most valuable company on the NGX—despite a profit dip in H1 2025.
MTN Nigeria Communications has emerged as the second listed company to hit the ₦10 trillion market capitalisation as its share price rose by 2% on Friday.
Business activity in Nigeria climbed to a three-month high in July 2025, with employment growth reaching its strongest level in 21 months, according to the latest PMI from Stanbic IBTC Bank.
The signing ends a protracted standoff between policymakers—one not only jeopardised a critical fiscal support package but opened a $734 million hole in the 2024/25 budget.
The policy change, agreed with bankers on July 20, replaces the CBK’s earlier plans to anchor lending rates to its own Central Bank Rate, currently at 9.75%.
Zambian authorities say the extension will help entrench macroeconomic stability and support the continuation of economic reforms into 2026.
The telco giant’s performance, its highest half-year profit in at least eight years, comes just a day after it became the most valuable company on the Nigerian stock market, with its market value crossing the ₦9 trillion mark and surpassing Airtel Africa.
The bank’s decision comes as inflation declined for the sixth consecutive month in June, falling to 13.7%, supported by improved food supply, a stronger currency, and tighter fiscal control.
The capital raise is aimed at ensuring compliance with CBN’s minimum capital requirements for banks and aligns with its long-term strategic objectives.
Since its inception in 2008, the lender has extended a total of $22.2bn to Egypt, making the country one its top beneficiaries.
MTN Nigeria Communications Plc on Tuesday became the most valuable company on the Nigerian stock market, after its market capitalisation crossed the ₦9 trillion mark for the first time, overtaking Airtel Africa.
Although slightly the delayed, the shift remains a critical step in widening Kenya’s financial inclusion as it eliminates the long-standing rule requiring investors to buy shares in lots of 100.
The copper-producer’s external debt obligations to the World Bank and other lenders has locked it out of global capital markets since 2000, when it first defaulted.
The fall in revenue comes as Ghana continues to face external risks shaped by fluctuating crude prices, geopolitical tensions, and global trade uncertainties.
The deal, which was first proposed last November, was executed through the bank’s subsidiary, Access Bank UK Limited, and has received full regulatory approvals in Mauritius.
This comes as the West African nation repays a $700 million Eurobound debt as part of a sweeping debt restructuring programme that has helped cut the country’s public debt ratio to Gross Domestic Product to 43.8%
The capital injection is part of a broader recapitalisation plan launched by the government in early 2025 to strengthen the bank’s liquidity and restore its solvency.
The improved performance builds on gains made from the bank’s ongoing strategic transformation plan, which had already lifted profits in Q1 2025 to roughly $95,900, compared to a $2.86 million loss in Q1 2024.
As Kenya shifts financing needs to domestic markets, Moody’s warns that its debt servicing cost, which is already among the highest, will remain elevated.
The drop comes as the oil-rich southern African nation moves to scale back its reliance on asset-backed loans amid volatile commodity prices, rising borrowing costs and weaker investor appetite.