Revolut has appointed banking veteran Gaby Magomola and applied for a South African banking licence, signalling a shift from payments to regulated digital banking.
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The funding will allow the lender to issue more letters of credit, guarantees, and collections, helping clients navigate Ethiopia’s foreign-currency-constrained market.
Revolut has appointed banking veteran Gaby Magomola and applied for a South African banking licence, signalling a shift from payments to regulated digital banking.
Prateek Suri, Chairman of Maser Group and the Richest Indian in Africa, has seen his wealth leap to $1.9 billion following the clearance of ownership rights to an island in West Africa
he move makes JPMorgan the first US bank to re-enter the Angolan market since major international lenders withdrew in the mid-2010s over compliance concerns.
The new representative office in Cairo underscores Standard Bank’s long-term view of Egypt as a key node for intra-African commerce and Gulf–Africa connectivity.
The Bank of Zambia has reduced its key lending rate for the first time in over five years, citing slowing inflation in Africa’s second-largest copper and cobalt producer.
The decision comes three days after S&P Global Ratings upgraded the country’s sovereign rating outlook to “positive” from “stable,” citing stronger growth prospects and rising per capita income.
Nigeria’s latest Eurobond issuance could keep the country’s external debt-to-total debt ratio slightly above the Debt Management Office (DMO) threshold of 45% by year-end, according to analysts at CSL Research.
Revolut has named ex-Mastercard executive Yacine Faqir as CEO for Morocco, deepening its North Africa push and signalling a shift toward locally led digital banking expansion.
Access Holdings Plc, Nigeria’s biggest banking group by assets, will pay $109.6m (₦179.1bn) to complete the acquisition of National Bank of Kenya (NBK) from KCB Group Plc, according to its latest financial report.
The National Pension Commission (PenCom) in September announced that the new regulation applies to Nigerians living and working abroad, as well as employees of foreign companies and international organisations in Nigeria not covered by the Pension Reform Act (PRA) of 2014.
The move comes four months after Ethiopia officially opened its banking industry to foreign investors for the first time in nearly five decades, signaling a cautious but strategic liberalisation of the sector.
The reinstatement brings relief to UBA Ghana, which is among the country’s major commercial banks with a strong presence in corporate and retail banking.
Despite its vast oil wealth, Libya has faced years of cash shortages that have forced citizens to queue outside banks to withdraw limited funds.
The German multinational logistics and supply chain management company is doubling down on Africa’s trade future with a $349.6m investment targeting logistics expansion across its express, global forwarding, and supply chain division.
Consumer prices have eased sharply from last year’s highs, however, erratic movements and a slight uptick in September 2025 point to persistent price pressures.
Data from the Nairobi Securities Exchange show NCBA’s share price surged to KSh 75.25 ($0.56) at Tuesday’s close — its highest on record. The group, currently the most expensive banking stock on the NSE, maintained strong momentum in Wednesday’s intraday trading.
The central bank said the upcoming auction, which marks the tenth since the East African nation launched its new foreign exchange trading system in August 2024, follows months of robust inflows and rising reserves.
Wegagen’s management attributed the capital surge to strategic balance-sheet strengthening, business diversification, and an accelerated digital rollout.
This marks VFD’s second major capital raise in two years. At its eighth AGM in 2024, shareholders had approved a ₦30bn ($20.3m) capital raise, of which ₦12.5 billion ($8.45m) was successfully secured.