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Under the new rules, Dedicated Electronic Money Issuers (DEMIs) and Enhanced Payment Service Providers (EPSPs) must reserve at least one-third of board seats for independent directors with no financial ties to the company. These directors cannot hold more than 5% equity stakes or maintain business relationships that could compromise their judgment.
The facility will also support South Africa’s transition to a green economy under its Just Energy Transition (JET) programme. The IMF estimates that the development initiative could lift annual GDP growth by 0.2 to 0.4 percentage points between 2025 and 2030.
As a fallback plan, Pretoria is willing to accept a maximum tariff of 10% if exemptions are not granted, its trade ministry revealed.
According to the World Bank, the AfCFTA has the potential of becoming the world’s largest trade area, connecting 1.3 billion people across 54 countries into a single market valued at $3.4 trillion. But progress remains slow due to uneven implementation.
Business activity in Nigeria fell to a seven-month low in June 2025, despite continued declines in inflation, according to the latest Purchasing Managers’ Index (PMI) from Stanbic IBTC Bank.
While BAHL’s exit is relatively minor—it had no retail operations in Kenya—it adds to growing concerns about reduced access to trade finance and foreign capital as more global lenders cut back their presence.
By increasing green financing, the bank is looking to reduce its exposure to climate risks while positioning itself as a key player in Mauritius’ low-carbon transition.
Kenya’s Equity Group appoints six new directors and secures approval to open its first office outside Africa in the UAE, targeting diaspora and cross-border growth.
President Bola Tinubu has signed into law four tax reform bills that are set to transform Nigeria’s fiscal and revenue framework. The four bills, the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill, were passed on Thursday after extensive consultations with various…
The signing comes a day after Kenyans returned to the streets to commemorate victims of last year’s nationwide protests, which were sparked by the highly controversial tax reforms proposed in the Finance Act 2024.
The NBE’s latest directive reinforces Ethiopia’s commitment to liberalise its tightly controlled financial sector and sends a strong signal to global investors that the country is now serious about attracting long-term capital, technology, and expertise into its banking industry.
Fidelity Bank Plc, one of Nigeria’s major commercial banks, has promoted 376 employees — representing 12% of its workforce — following a strong financial year that saw it deliver the highest profit growth in the country’s banking sector. In a statement on Thursday, the bank also announced a 20% salary increase across the board, marking…
The Lusophone African nation’s latest equity injection brings its total investment in the regional financier to over $200 million, including the $25 million contribution made earlier this year by the Fundo Soberano de Angola, the country’s sovereign wealth fund.
While the deal marks a major step towards stabilising the economy, the West African country still faces a tough road ahead as it seeks to persuade private lenders to rework their share of the debt.
The directive is part of the government’s broader financial sector reform campaign aimed at deepening financial inclusion, expanding the tax base through improved payment traceability, and enabling long-term economic growth.
The sharp rise in debt costs coincides with a 71.5% drop in external grant in Q1 2025, reflecting growing difficulties in attracting budget support from international partners.
According to the Treasury, the loan comes with favourable interest rates and flexible repayment terms, which will help to contain rising debt service costs, projected to hit $24 billion by the end of 2026.
The latest acquisition has raised questions about its timing, as it comes shortly after the Central Bank of Nigeria (CBN) barred banks under regulatory forbearance — including Access Bank — from investing in foreign subsidiaries.
The Gulf African Bank deal is the latest in a string of mergers and acquisitions in Kenya’s banking sector.
With the exchange still in its infancy, each new listing plays a critical role in testing the market’s infrastructure and building investor confidence—steps that Ethiopia’s economic reform agenda increasingly depends on.