Rural Banks in Ghana Embrace GhanaPay to Stay Competitive
Rural banks in Ghana are increasingly adopting the GhanaPay platform developed by the Ghana Interbank Payment and Settlement Systems (GhIPSS)…
Category: Finance
Bond Investors Urged to Rethink Strategies as Interest Rate Cuts Loom
Bond investors are being urged to reconsider their strategies as projections grow regarding a potential interest rate cut by the…
Nigeria’s Cyber Threat Risk Rises as Attacks Surge, Now Ranked 11th in Africa
Nigeria’s cyber threat risk has significantly increased, with the country now ranked 11th on the Cyber Threat Index for African…
Banks and Fintechs in Nigeria Embrace Blockchain to Boost Financial Services
In early January 2025, PalmPay, a fintech platform, announced its integration of blockchain technology to improve transaction reliability, setting a…
Nigeria’s Personal Loans Surge to N3.32tn Amid Rising Inflation, CBN Reports
In November 2024, Nigeria’s personal loan portfolio saw a dramatic increase of 37.76%, rising to N3.32 trillion, according to the…
Equity Market Soars by N779bn as Nigerian Exchange Hits N67.3tn
On Wednesday, February 13, 2025, the Nigerian equity market experienced a significant surge, with investors gaining N779 billion. The market…
Nigeria Becomes Afreximbank’s Largest Beneficiary with $52 Billion Disbursement
Nigeria has emerged as the largest beneficiary of the African Export-Import Bank (Afreximbank) with a cumulative disbursement of approximately $52…
Nigerian Banks Progressing Towards Meeting 2026 Recapitalisation Deadline – Fitch Ratings
Fitch Ratings has reported that Nigerian banks are on track to meet the Central Bank of Nigeria’s (CBN) recapitalization deadline…
CBN Scraps Free ATM Withdrawals, Introduces New Charges: Bank Customers Express Concerns
In a recent move by the Central Bank of Nigeria (CBN), the institution has announced the scrapping of free ATM…
Nigerian Equity Market Maintains Bullish Momentum with N426bn Gain
The Nigerian equity market continued its positive trajectory on February 12, 2025, with investors gaining N426 billion as the market…
Stabilizing Naira and Slower Price Increases Ease Business Costs in January
In January 2025, the Nigerian business environment saw a reduction in operating costs, primarily due to the stability of the…
CBN Reschedules February 2025 MPC Meeting Amid CPI Release Delays
The Central Bank of Nigeria (CBN) has officially announced a new date for its 299th Monetary Policy Committee (MPC) meeting,…
Uganda’s Economic Outlook Remains Positive Amid Challenges and Global Uncertainty
Uganda’s economy has shown consistent growth in recent years, with 2023 marking a 5.0% increase in GDP. After a dip…
VP Shettima Launches Committee to Drive Nigeria’s Trillion-Dollar Economic Vision by 2030
Vice President Kashim Shettima recently inaugurated the Presidential Committee on Economic and Financial Inclusion (PreCEFI) as part of the Nigerian…
MOFI Launches N100bn Series 2 Offering to Tackle Nigeria’s Housing Deficit
The Ministry of Finance Incorporated (MOFI) has launched a N100 billion Series 2 offering under the MOFI Real Estate Investment…
African Startups Raise $289M in January 2025, Marking a Strong Funding Rebound
In January 2025, African startups raised an impressive $289 million, representing a 240% increase compared to the same period in…
FBN Holdings Reports 154% Surge in Net Interest Income Due to Rate Hike
FBN Holdings experienced a significant 154.5% rise in its net interest income for the year 2024, largely due to the…
Nigerian Manufacturers Face N666bn Cost Surge Amid Inflation and Economic Challenges”
In 2024, the cost of sales for 10 major manufacturing and consumer goods companies in Nigeria surged to N665.95bn, marking…
Ghana National Gas Company Faces Growing Debt Crisis Amid VRA Payment Struggles
The Ghana National Gas Company Limited (GNGLC) is grappling with a deepening financial crisis, largely stemming from the inability of…
Six companies record N255bn FX loss
Six companies listed on the Nigerian Exchange Limited reported a combined foreign exchange (FX) loss of N255.72 billion for the…
CBN Sets $25,000 Weekly Limit on BDC Forex Purchases to Stabilize Naira
The Central Bank of Nigeria (CBN) has announced new forex restrictions, limiting Bureau de Change (BDC) operators to purchasing a…
PTAD Pledges Implementation Of N32,000 Pension Increment
The Pension Transitional Arrangement Directorate (PTAD) has reaffirmed its commitment to implementing the N32,000 pension increment for retirees under the…
Ghana Faces Revenue Dilemma Amid Proposed Tax Cuts
The Ghanaian government is considering removing key taxes, including the e-levy, betting tax, and emission levy, in response to concerns…
CBN extends $25,000 weekly forex sales to BDCs
The Central Bank of Nigeria (CBN) has announced an extension of the temporary arrangement that allows Bureau de Change (BDC)…
Naira appreciates to N1,605/$1 in parallel market on Monday
The Nigerian naira showed a significant recovery in the parallel market on Monday, appreciating by N5 against the US dollar.…
Stock Market Gains N83bn on Demand for MTN, 20 Others
The Nigerian Exchange Limited (NGX) opened the new week with a positive market performance, recording an N83 billion increase in…
Nigeria Launches FX Code to Transform Foreign Exchange Market with Integrity and Transparency
Nigeria has officially launched the Nigeria Foreign Exchange (FX) Code on January 28, 2025, marking a major milestone in its…
FCMB Group Lists 19.8 Billion Shares on NGX Following Oversubscribed Public Offer
FCMB Group Plc has successfully listed 19.8 billion shares on the Nigerian Exchange Group (NGX) after a highly subscribed public…
Mahama nominates Dr. Johnson Asiamah as BoG Governor-GHANA
President John Dramani Mahama has nominated Dr. Johnson Asiamah as the new Governor of the Bank of Ghana, pending approval…
PTAD Clears N1.18bn in Pension Arrears Amid Ongoing Retiree Concerns
The Pension Transitional Arrangement Directorate (PTAD) has disbursed N1.18bn in pension arrears over the past five years, benefiting thousands of…