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Tag: Africa

Banking featured

Six Nigerian banks rank among Africa’s 20 biggest lenders

Six Nigerian banks have made the list of Africa’s 20 largest lenders by total assets, underscoring the growing scale of the country’s banking industry following a major recapitalisation drive. Access Bank leads the Nigerian lenders with assets of $36 billion, ranking 12th on the continent. United Bank for Africa follows with $33.27 billion, Zenith Bank […]

Policy and Regulations

AU to launch African credit rating agency October 7

The African Union has announced that the African Credit Rating Agency will be officially launched on October 7, 2026, in Port Louis, Mauritius, where the agency is headquartered. The launch marks a major step in Africa’s efforts to strengthen its financial independence and address concerns over how the continent’s economies are assessed by global credit […]

Economy

West Africa remains most stable region despite terrorism — ECOWAS

The Economic Community of West African States says West Africa remains the most stable of Africa’s regional economic blocs despite the growing threat posed by terrorism and violent extremism. ECOWAS Commissioner for Political Affairs, Peace and Security, Amb. Abdel-Fatau Musah, made this known in an interview with the News Agency of Nigeria, on Monday. He […]

Oil and Gas

Dangote offers East Africa 30% stake in refinery

Aliko Dangote has offered East African countries a combined 30 per cent equity stake in his proposed oil refinery in Kenya, potentially giving regional investors access to about $1.5 billion worth of the planned project. Kenyan President William Ruto’s economic adviser, David Ndii, disclosed this on Thursday at a capital markets forum in Nairobi, where […]

Finance

60% of Africa’s trade costs stem from within — W’Bank

Africa’s biggest trade obstacles are occurring within countries rather than at the border, with about 60 per cent of total trade costs coming from behind-the-border barriers, according to a World Bank report. The finding is contained in the World Bank’s Integrating Africa: From Threads to Hubs, which identifies customs clearance inefficiencies, regulatory misalignment, weak logistics […]

Energy

ITUC-Africa demands just energy transition for African workers

For three days, the heart of Africa’s trade union movement was in Nairobi, Kenya, as workers’ representatives from across the continent, alongside international partners and other stakeholders, gathered to confront one of the defining questions of Africa’s future: how can the continent achieve a green energy transition without leaving workers and communities behind. The Second […]

Oil and Gas

Dangote Refinery alone not enough for Africa, says FG

The Federal Government has said the Dangote Refinery alone cannot meet Africa’s growing refined petroleum products needs, urging local and international investors to pour more capital into Nigeria’s refining, midstream and downstream sectors. The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, said Nigeria must build on the success of the Dangote Refinery and […]

Finance

How to apply for ECOWAS $65,000 startup awards to Nigerian entrepreneurs

The Economic Community of West African States has opened applications for the second edition of its Startup Awards, offering cash prizes totaling $65,000 to startups from across the region, including Nigeria. ECOWAS Commission announced the award on its X handle on Monday, saying it aims to identify, celebrate and scale innovative startups while advancing digital […]

Business

WTO ranks Africa second in global export growth for Q1

Africa’s merchandise exports increased by 14 per cent year-on-year in the first quarter of 2026, recording the second-highest regional growth after Asia, according to the World Trade Organization. The WTO disclosed this in its latest trade outlook titled “Global goods trade resilient in the first quarter of 2026 despite war in Middle East,” released on […]

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