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Before issuing any ruling, the court says it will hear MTN Nigeria’s side of the story. It has given the telecom service provider five days to appear and show cause why its accounts should not be frozen.
The Attorney General’s clarification comes after media reports suggested that the law office removed the Managing Director’s name from the trial without offering any explanation.
The National Bank of Ethiopia (NBE) held its seventh foreign exchange auction of the year, selling $50 million at 134.95 birr per dollar, in a bid to stabilise its foreign exchange
Kenya’s top lenders, Equity Group and KCB Group, are grappling with Instruction 18, a new rule from the Democratic Republic of Congo, aimed to drive local investors market dominance
Despite concerns that open banking could be detrimental to Nigeria’s commercial banks, Adedeji Olowe, CEO of Lendsqr, argues that they could be the biggest winners when it goes live.
Since the internal purge began earlier this month, more than 1,500 employees have been fired over suspicious activity linked to their personal bank and M-Pesa accounts.
In pursuit of achieving Tinubu’s 8-point agenda, this new appointment signals a strategic push towards innovations in Nigeria’s housing sector.
Dr Sidi Ould Tah, Mauritanian economist and ex-BADEA chief, has been elected AfDB President. He aims to boost inclusion, climate resilience, and youth employment in Africa.
The $63 million raise is expected to give the lender the boost it needs to meet the central bank’s new capital requirement for regional banks.
Nigeria’s state-owned mortgage lender has approved $45.22 million in housing loans so far in 2024, an 80% jump from the previous year.
Even as most lenders remain well-capitalised and liquid, the outlook for the rest of the year will depend on how effectively they adapt to ongoing shifts in fiscal policy and global economic conditions.
With its latest $100 million capital injection to EBID, Nigeria is quietly leveraging West Africa’s funding vehicle
In the fourth quarter of 2024, liquidity in Nigeria’s banking sector fell below $100 billion for the first time in years. At the same, emergency borrowing by banks rose sharply, fuelling fears of a liquidity squeeze. Despite the signs of distress, Nigerian lenders remain broadly resilient —this piece explores why.
A Nigerian court has barred a privacy lawyers’ group from joining a lawsuit over control of the BVN, a national biometric ID system linked to bank accounts, raising concerns about data governance and civil society exclusion.
New data from the finance ministry shows that Kenya’s total debt stock rose to a record $88 billion in the 12 months leading to March 2025 driven by increased domestic borrowing.
The bank, while denying insolvency claims, clarified that its actual exposure ranges between $9 million and $19 million—a sum it would share with G. Cappa, another party to the suit.
Ethiopia’s central bank has announced it will phase out a controversial rule that requires commercial banks to buy government bonds.
The lender’s robust earnings were buoyed by stronger interest income, which rose to $66.8 million from $55 million in Q1 2024.
GTCO, Capitec, and CIB lead the pack on Return on Asset, showing that in African banking, the real winners aren’t always the biggest—but the ones that do more with less.
Absa Group has announced Rene Van Wyk as its new board chair, succeeding Sello Moloko amid the broader leadership overhaul