Resource not found.
Sorry the page you were looking for cannot be found. Try searching for the best match or browse the links below:Latest Articles
Ethiopia Slashes Current Account Deficit 95% to $289 Mn After FX Reform and Export Surge
Ethiopia’s shift to a market-based exchange rate in July 2024 triggered a major external adjustment. The current account deficit narrowed from $6.2 Bn to $289.3 Mn, while export earnings surged 119.2% and private remittances rose 13%. NBE foreign reserves jumped more than 209%, and the gap between official and parallel exchange rates narrowed to within 15%, shifting foreign exchange activity back into the formal banking system.
Ethiopia's Banking Sector Posts Strongest Year on Record With Double-Digit Capital Growth
Ethiopian commercial banking posted its best performance across every major indicator for the fiscal year ended June 2025, per the NBE Financial Stability Report. ▸ Net income: ETB 93.4 Bn (+61.3%), the largest profit in the sector's history ▸ NPL ratio: 3.1%, five-year low. Liquidity: 30.4%, five-year high ▸ Total assets: ETB 4.7 Tn (+44.5%), deposits: ETB 3.5 Tn (+40.7%) ▸ Banking Business Proclamation 1360/2025 opens the sector to foreign lenders
Old Mutual Holdings' 2025 Fee Income Surges as Insurance Weakens
Old Mutual Holdings Plc reported a 2.1% increase in net profit to KSh 856 Mn for FY2025, lifted by a 34.4% surge in fee and commission income from asset management growth. The insurance service result swung to a KSh 151 Mn loss as revenue fell 5.2% following the South Sudan exit and medical insurance pullback. Operating costs jumped 49.5% to KSh 3.09 Bn. The general insurance subsidiary posted a 7.2% rise in pretax profit. The group completed its Kenya life entities merger and launched the Thrive digital wellness platform. No dividend was declared.
Kenya’s Proposed AI Law Follows EU Risk Framework
At the center of the proposal is the new Commissioner, an independent office appointed through a process involving the Public Service Commission, the president and Parliament.
NCPB to Take Over Maize Seed Subsidy Program After Delays
Parliament has ordered the National Cereals and Produce Board (NCPB) to take over the country’s maize seed subsidy program, removing Kenya Seed Company from its role amid concerns over delayed delivery and financial losses
AfrexInsure Appoints Lesley Ndlovu as New CEO
CBK Raises KSh 18Bn in Bond Switch into 2034 Paper
The Central Bank accepted KSh 18.40Bn in a Treasury bond switch auction after receiving KSh 22.21Bn in bids against a KSh 15Bn offer. Investors exchanged holdings in the FXD1/2021/005 bond, which matures in November 2026, into the longer-dated FXD3/2019/015 bond due July 2034. The operation extends Kenya’s domestic debt maturity profile and eases refinancing pressure ahead of the 2026 redemption cycle.
Airtel Uganda Profit Surges 41%, Data Revenue Surpass Voice
Airtel Uganda reported a 41.1% increase in profit after tax to Ushs 446.9 Bn for the year ended 31 December 2025. Revenue grew 13.3% to Ushs 2,249.7 Bn as data revenue crossed Ushs 1.1 Tn, overtaking voice for the first time to contribute 49.3% of service revenues. EBITDA margins expanded 490 bps to 54.9%, reversing a two-year compression, driven by near-flat 2.0% operating cost growth. The board declared total dividends of Ushs 11.15 per share, up 41.6%, equivalent to 99.8% of earnings. Shares trade around Ushs 80, below the Ushs 100 IPO price, ahead of a November 2026 secondary offer deadline.
Madagascar Appoints New Prime Minister After Cabinet Dismissal
Madagascar has appointed Mamitiana Rajaonarison as prime minister following the dissolution of the previous government, as President Michael Randrianirina reshapes the cabinet during the country’s ongoing political transition.
Rubis Kenya Revenue Hits KSh 131.7Bn as Group Profit Rises 19%
Rubis reported stronger underlying earnings in 2025 as improved margins in Africa and lower financing costs offset currency volatility. The French energy distributor generated €870M (KSh 131.7Bn) in revenue from Kenya, down 9.8% from €964M (KSh 129.9Bn) in 2024, though margins improved after a fuel pricing adjustment. Kenya remained Rubis’ largest African market as the group posted €741M (KSh 112.2Bn) in EBITDA and €309M (KSh 46.8Bn) in net income.
MTN Fintech Platform Drives Surge in Digital Payments as Transactions Top US$ 500 Billion
MTN Group has reported a sharp expansion in its financial technology platform in 2025, with digital payments surging as more customers adopted advanced mobile money and fintech services