Africa’s Billionaires Add Over US$ 20Bn as Combined Wealth Crosses US$ 126.7Bn
Africa’s 23 billionaires increased their combined wealth to US$ 126.7 billion in 2026, adding more than US$ 20 billion as equity markets rallied. Nigeria’s Aliko Dangote remains the richest person on the continent, while Abdulsamad Rabiu recorded the largest wealth gain.
Over 50% Of Kenya’s Ride-Hailing Drivers Now Rely on It as Primary Source of Income - Bolt/IPSOS Study
A study by ride-hailing app Bolt, in collaboration with Ipsos, shows that 53% of ride-hailing drivers in Kenya now rely on the platforms as their main source of income.State Struggles to Deploy Billions Through Digital Procurement - Controller of Budget
Kenya’s digital procurement overhaul is slowing development spending, leaving billions unspent as ministries and suppliers navigate the Electronic Government Procurement System (E-GPS)Recovery Gap Widens as Kenyans Take Months to Rebuild After Shocks- Tala Report
New data in a report titled Money March 2026: Financial Resilience, by Tala, Pezesha, CIS and TransUnion shows that recovery from a serious financial setback can take anywhere from less than a month to more than six monthsZenith Bank Targets London Listing to Drive Global Expansion
Zenith Bank Plc is planning a 2027 listing on the London Stock Exchange to expand access to international capital and support its growing cross-border operations. The move follows regulatory recapitalization in Nigeria and aligns with a broader strategy to scale global business, particularly in trade and investment flows.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 lendersOld 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.Kenya Topped East African Private Capital Activity in 2025 - Stears Report
Kenya emerged as one of Africa’s most active private capital markets in 2025, ranking third on the continent, according to the 2025 Private Capital in Africa Activity Report by Stears Information Ltd.Africa’s Global Trade Integration is Improving Despite Geopolitical Tensions- DHL Report
Several Sub-Saharan African economies are strengthening their links to global trade and investment networks, even as globalization remains at record levels despite rising geopolitical tensions, according to the DHL Global Connectedness Report 2026.Kenya’s Economy Looks Great, on Paper.
the real question is whether this stabilisation is a genuine recovery runway capable of sustaining 5.5%+ growth, or a fragile equilibrium on a narrowing fiscal base, broken monetary transmission, and a labour market decoupled from GDP.
