Banking

First HoldCo shares dipped 4.1% on Friday after Oba Otudeko sold his $128m stake, ending a boardroom battle with Femi Otedola, who now leads the group. Investors await the companyโ€™s next chapter.


Ecobank Nigeria has redeemed half of its $300m Eurobond due February 2026, nearly seven months ahead of schedule, supported by an aggressive loan recovery drive and improved liquidity.


Equity Group Holdings Plc, Kenyaโ€™s largest bank by assets, plans to open its first office in the UAE before December 2025, as it eyes growing capital flows and trade links between Africa and the Middle East.


GTCO becomes the first Nigerian bank to cross the โ‚ฆ100 share price mark, joining BUA Cement and Lafarge Africa in the high-value league.


Zenith Bank saw its market capitalisation cross the โ‚ฆ3 trillion mark on Wednesday, becoming the second lender to achieve the milestone after GTCO.


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.


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)


GTCO has announced plans to raise $100 million through equity offering, alongside replacing its Global Depositary Receipts with a direct ordinary share listing on the London Stock Exchange.


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.


Ghana’s central bank has launched corporate governance guidelines for licensed payment service providers, demanding stronger board oversight and clearer management structures.


Kenyaโ€™s central bank has revoked the licence of Pakistanโ€™s Bank Al-Habib following its planned exit, marking another step in the wider retreat of foreign banks from African marketss.


Absa Group, South Africaโ€™s top lender, aims to more than triple its green loan book in Mauritius to $664m by 2030, as part of efforts to curb investment risks linked to climate change


Kenyaโ€™s Equity Group appoints six new directors and secures approval to open its first office outside Africa in the UAE, targeting diaspora and cross-borderย growth.


Ethiopia has taken the final step in opening up its banking sector to international players with a new licensing directive that allows foreign banks to enter the market and sets a minimum capital threshold of $37 million.


Fidelity Bank has promoted 376 employees, 12% of its workforce, after a strong financial year, also implementing a 20% pay rise, its second salary increase in eight months.


Access Bank – Nigeriaโ€™s largest lender by assets- has acquired Standard Charteredโ€™s retail operations in Tanzania, expanding its footprint in East Africa amid ongoing regulatory scrutiny at home.



The Competitive Authority of Kenya has ratified the acquisition of the countryโ€™s leading Islamic bank, Gulf African Bank by the Dubai-based Soren Investment Company.


Nigeria’s FirstHoldCo shares drop 4.1% after Otudeko $128m stock exit

Shares of FirstHoldCo Plc, the parent company of Nigeriaโ€™s oldest bank, FirstBank, fell by 4.1% on Friday after former major shareholder Oba Otudeko offloaded his stake in a landmark transaction valued at โ‚ฆ195.7 billion ($127.9 million).

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Ecobank Nigeria redeems half of $300m Eurobond amid loan recovery push

The bond, issued in February 2021 and listed on the London Stock Exchange, had been trading near par at $99.00 as of July 11โ€”an indicator of investor confidence in the bankโ€™s ability to meet its financial obligations.

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Kenyaโ€™s largest Bank to open Dubai office before December

Equityโ€™s push into the Middle East mirrors a broader trend among major African banks seeking expansion into the region. Since the beginning of 2024, at least four major lenders from the continent have either begun operations there or announced plans to expand.

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Nigeriaโ€™s GTCO joins Lafarge, BUA Cement as share price crosses โ‚ฆ100

Guaranty Trust Holding Company (GTCO) has crossed the โ‚ฆ100 share price mark โ€” a first for any Nigerian banking stock โ€” placing it alongside industrial giants like BUA Cement and Lafarge Africa.

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Zenith becomes Nigeriaโ€™s second Bank to hit โ‚ฆ3trn market valuation

Zenith Bank, one of Nigeriaโ€™s largest financial institutions, saw its market capitalisation cross the โ‚ฆ3 trillion ($2.04 billion) mark on Wednesday, a week after GTCO achieved the same feat.

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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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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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Nigeria’s GTCO eyes $100m from London listing to boost capitalย 

Guaranty Trust Holding Company Plc, one of Nigeria’s Tier 1 banks, is set to launch raise about $100 million dollars, ahead of Bank’s minimum capital requirement amid delisting from the ADR on the London Securities Exchange.

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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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Ghana tightens corporate governance for fintechs amid digital finance boom

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.

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Kenya revokes Bank Al-Habibโ€™s licence amid foreign banks’ exit from Africa

While BAHLโ€™s exit is relatively minorโ€”it had no retail operations in Kenyaโ€”it adds to growing concerns about reduced access to trade finance and foreign capital as more global lenders cut back their presence.

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South Africaโ€™s top bank to triple green loans in Mauritius by 2030

By increasing green financing, the bank is looking to reduce its exposure to climate risks while positioning itself as a key player in Mauritiusโ€™ low-carbon transition.

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Kenyaโ€™s Equity Group appoints six new directors, eyes first Middle East office

Kenyaโ€™s Equity Group appoints six new directors and secures approval to open its first office outside Africa in the UAE, targeting diaspora and cross-borderย growth.

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Ethiopia opens banking sector to foreign investors, sets $37m capital threshold

The NBEโ€™s latest directive reinforces Ethiopiaโ€™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.

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Fidelity Bank promotes 376 employees, implements second salary raise in eight months

Fidelity Bank Plc, one of Nigeriaโ€™s major commercial banks, has promoted 376 employees โ€” representing 12% of its workforce โ€” following a strong financial year that saw it deliver the highest profit growth in the countryโ€™s banking sector. In a statement on Thursday, the bank also announced a 20% salary increase across the board, marking…

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Nigeriaโ€™s Access Bank widens East Africa footprint with StanChart Tanzania retail buyout

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 โ€” including Access Bank โ€” from investing in foreign subsidiaries.

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Access Bank is going where few Nigerian banks have gone before

Nigeriaโ€™s biggest bank by asset base has established a reputation for inorganic growth through aggressive mergers and acquisitions. It’s not the only bank expanding, but it’s doing this in markets few dare to go.

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Dubai-based firm gets green light to acquire Kenyaโ€™s top Islamic bank

The Gulf African Bank deal is the latest in a string of mergers and acquisitions in Kenyaโ€™s banking sector.

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First HoldCo shares dipped 4.1% on Friday after Oba Otudeko sold his $128m stake, ending a boardroom battle with Femi Otedola, who now leads the group. Investors await the companyโ€™s next chapter.


Ecobank Nigeria has redeemed half of its $300m Eurobond due February 2026, nearly seven months ahead of schedule, supported by an aggressive loan recovery drive and improved liquidity.


Equity Group Holdings Plc, Kenyaโ€™s largest bank by assets, plans to open its first office in the UAE before December 2025, as it eyes growing capital flows and trade links between Africa and the Middle East.


GTCO becomes the first Nigerian bank to cross the โ‚ฆ100 share price mark, joining BUA Cement and Lafarge Africa in the high-value league.


Zenith Bank saw its market capitalisation cross the โ‚ฆ3 trillion mark on Wednesday, becoming the second lender to achieve the milestone after GTCO.


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.


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)


GTCO has announced plans to raise $100 million through equity offering, alongside replacing its Global Depositary Receipts with a direct ordinary share listing on the London Stock Exchange.


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.


Ghana’s central bank has launched corporate governance guidelines for licensed payment service providers, demanding stronger board oversight and clearer management structures.


Kenyaโ€™s central bank has revoked the licence of Pakistanโ€™s Bank Al-Habib following its planned exit, marking another step in the wider retreat of foreign banks from African marketss.


Absa Group, South Africaโ€™s top lender, aims to more than triple its green loan book in Mauritius to $664m by 2030, as part of efforts to curb investment risks linked to climate change


Kenyaโ€™s Equity Group appoints six new directors and secures approval to open its first office outside Africa in the UAE, targeting diaspora and cross-borderย growth.


Ethiopia has taken the final step in opening up its banking sector to international players with a new licensing directive that allows foreign banks to enter the market and sets a minimum capital threshold of $37 million.


Fidelity Bank has promoted 376 employees, 12% of its workforce, after a strong financial year, also implementing a 20% pay rise, its second salary increase in eight months.


Access Bank – Nigeriaโ€™s largest lender by assets- has acquired Standard Charteredโ€™s retail operations in Tanzania, expanding its footprint in East Africa amid ongoing regulatory scrutiny at home.



The Competitive Authority of Kenya has ratified the acquisition of the countryโ€™s leading Islamic bank, Gulf African Bank by the Dubai-based Soren Investment Company.