Zambia remains in default to Afreximbank, TDB as $583m debt talks stall - Finance in Africa
Zambia’s debt talks with regional lenders Afreximbank and TDB have stalled, keeping the country in partial default.| Finance in Africa
Zambia’s debt talks with regional lenders Afreximbank and TDB have stalled, keeping the country in partial default.| Finance in Africa
The European Bank for Reconstruction and Development (EBRD) has formally approved Nigeria, Côte d’Ivoire, and Benin as recipient countries.| Finance in Africa
Nigeria’s debt office has refuted claims that the federal government paid $401.1 million to service its domestic U.S dollar-denominated bond.| Finance in Africa
Currency in circulation in Namibia rose to $305.9 million in 2024, a 6.9% increase from the $284 million in the previous year.| Finance in Africa
Angola has become a sovereign shareholder in Africa Finance Corporation following an equity investment of $184.8 million.| Finance in Africa
South Africa’s central bank has cut its benchmark interest rate by 25 basis points to 7.25%, its lowest level in more than two years.| Finance in Africa
Namibia’s foreign reserves rose to $3.3 billion by the end of December 2024, reflecting an 18.4 % increase compared to the previous year.| Finance in Africa
Liquid assets in Namibia's banking sector rose by 20.2 % to $1.9 billion, up from $1.4 billion in the previous year.| Finance in Africa
Nigeria returns to Eurobond market with $2.3bn offer| Finance in Africa
Nigeria is preparing to return to the Eurobond market before the end of 2025, seeking to raise up to $2.3 billion as global funding conditions improve| Finance in Africa
The Washington-based lender noted that despite recent fiscal slippages, bold corrective steps by the new administration have kept programme goals within reach, buoyed by strong export earnings, rising reserves and renewed commitments to fiscal discipline.| Finance in Africa
The country’s new gold regulator has also suspended the trading licences of all foreign traders, effective immediately, as it moves to centralise control of artisanal gold exports.| Finance in Africa
Nigeria’s central bank has held its benchmark interest rate at 27.5%, as it weighed slowing inflation against lingering economic pressures.| Finance in Africa
Nigeria is set to receive a $500 million loan from the African Development Bank (AfDB) to support its ongoing economic reforms.| Finance in Africa
Kenya is set to launch a sovereign wealth fund and an infrastructure fund, as the government looks to finance key sectors through asset sales.| Finance in Africa
Malawi’s newly elected president, Peter Mutharika, has reappointed Joseph Mwanamvekha as finance minister, according to an official statement.| Finance in Africa
Kenya cuts rates again despite mounting price pressures | Finance in Africa
The central bank has indicated it could lower its benchmark rate if inflationary pressures persist in easing.| Finance in Africa
Ghana’s former Minister of Finance, Ken Ofori-Atta, has once again been declared wanted after failing to appear for questioning on Monday.| Finance in Africa
Egypt’s annual inflation slowed for the fourth straight month in September, falling to 11.7% from 12% in August, according to CAPMAS .| Finance in Africa
Kenya’s inflation accelerated in August to 4.5% from 4.1% in July, hitting a 14-month high after the CBK delivered its seventh consecutive rate cut.| Finance in Africa
Among African countries hit by Trump’s tariff overhaul, Kenya fared relatively well, receiving the baseline 10% rate—offering it some breathing space amid broader trade disruptions.| Finance in Africa
Kenya’s private sector activity rebounded in September, with business conditions improving for the first time since April as rising demand rose.| Finance in Africa
Ghana’s annual consumer inflation slowed for the ninth consecutive month in September, easing to 9.4% from 11.5% in August.| Finance in Africa
The directive comes as banks prepare to meet a new total core capital requirement of $77.7 million by 2029.| Finance in Africa
South Africa’s mining and infrastructure reforms are drawing growing interest from Indian investors seeking opportunities in the region.| Finance in Africa
HSBC Holdings Plc has officially exited South Africa, ending a three-decade run which will see its assets and operations transferred to FirstRand.| Finance in Africa
The CBN has introduced three new non-interest liquidity tools to strengthen the Islamic finance sector and align with global standards.| Finance in Africa
Fidelity Bank Plc has denied claims that Nigeria’s apex court ordered it to pay $139 million in damages over a disputed legacy loan.| Finance in Africa
JPMorgan has upgraded its outlook on Afreximbank’s Eurobonds to overweight, citing more attractive pricing following a recent Fitch downgrade.| Finance in Africa
Nigeria is weighing its first interest rate cut in five years as inflation cools and foreign capital begins to return.| Finance in Africa
The South African Reserve Bank (SARB) kept its benchmark repo rate steady at 7% on Thursday, citing inflationary concerns.| Finance in Africa
Standard Chartered Kenya has warned that its net profit for 2025 could fall by at least 25%, following a costly pension settlement .| Finance in Africa
Zenith Bank, one of Nigeria’s largest lenders, is set to expand into Francophone Africa this year with a greenfield unit in Côte d’Ivoire.| Finance in Africa
The World Bank has announced that it will resume funding to Uganda after a two-year halt triggered by the enactment of an anti-LGBT law.| Finance in Africa
Ghana’s central bank lowered its benchmark lending rate by 350 basis points to 21.5% from 25% as inflationary pressures ease further.| Finance in Africa
Ghana’s banking sector faces heightened pressure as regulators move to enforce stricter prudential rules aimed at curbing non-performing loans.| Finance in Africa
Malawi has secured a $350 million grant from the World Bank to support the development of a landmark hydropower storage project.| Finance in Africa
Egypt’s strong performance in the last fiscal year suggests growing investor confidence and capacity to meet its hefty debt obligations.| Finance in Africa
Ghana will begin refining gold locally from October 2025 as part of efforts to lift export revenue and strengthen its position in the bullion trade| Finance in Africa
Botswana has established a new sovereign wealth fund to stabilise its ailing economy, amid falling diamond revenues.| Finance in Africa
Despite gaining four points in March, the PMI remains below the 50-point threshold, indicating ongoing contraction in the sector.| Finance in Africa
The reversal follows weeks of tension between the African National Congress (ANC) and its main coalition partner, the Democratic Alliance (DA), which opposed the VAT hike both in parliament and in court.| Finance in Africa
Egypt has secured $1.8bn in financing from the International Islamic Trade Finance Corporation (ITFC) since the start of 2025.| Finance in Africa
Kenya’s insurance profit slumps 42% on weaker investment income| Finance in Africa
South Africa’s gross domestic product expanded by 0.8% compared to a marginal 0.1% in the first quarter, according to the latest official data.| Finance in Africa
Kenya’s insurance industry saw net earnings fall 42% in Q1 2025 to $38 million, from $66 million a year earlier, according to the IRA.| Finance in Africa
Ghana’s economy expanded by 6.3% in Q2 2025, compared with a revised 5.7% a year earlier, according to the latest GDP report.| Finance in Africa
The headline PMI rose to 50.8 from 50.2 in July, staying above the 50.0 no-change mark for the seventh straight month according to S&P Global.| Finance in Africa
Namibia plans to borrow $122m locally and tap its $628m sinking fund to refinance a $750m Eurobond maturing in October.| Finance in Africa
Ghana’s 2035 Eurobond rose slightly on Monday, trading at 71.43 cents to the dollar, data from Borshë Frankfurt shows.| Finance in Africa
Nigeria’s inflation rate slowed for the second month in a row in May, falling to 22.97% from 23.71% in April.| Finance in Africa
Ghana’s annual inflation slowed sharply to 18.4% in May, marking its lowest level since February 2022.| Finance in Africa
The Commercial Bank of Ethiopia (CBE) is set to receive more than half of a $650 million financial package from the World Bank next week.| Finance in Africa
In an effort to stabilise the foreign exchange market and improve liquidity, Nigeria’s central bank launched an aggressive dollar injection drive in the first quarter of the year. But despite the scale of intervention, the naira continued to lose ground.| Finance in Africa
