Nigeria's banks lose momentum as African banking profits rise overall
African banking sector profits rose regionally, but Nigerian banks posted weaker earnings after two years of strong gains driven by naira devaluation and high interest rates, according to BusinessDay.
Stanbic Bank weighs greenfield entry into Ethiopia amid ownership limit hurdles
Stanbic Bank considered a greenfield entry into Ethiopia as an alternative to acquiring local lenders, signalling a path around Ethiopia's 49% cap on foreign ownership of existing banks.
Roqqu CEO says tokenization is the future of finance
Benjamin Onomor, CEO of Roqqu, said tokenization was the future of global finance, arguing it could democratize investment access and reshape capital markets, as Roqqu announced a partnership with Ondo Finance.
MTN finalising Nigeria and Uganda fintech spinoffs, partners Ant International
MTN is completing the separation of its mobile-money businesses in Nigeria and Uganda and has signed a technology partnership with Ant International to turn MoMo into a super app, starting in Nigeria.
Araxi shows it is on good footing in South Africa for FY 2027
CEO Bradley Sacks said Araxi's Halo Dot offering, which, as an Apple gateway service provider, enabled the May 2026 launch of Tap to Pay on iPhone in South Africa, left the firm on a really good footing going into FY 2027.
Nigeria Army chief urges banks to strengthen tracking of terror financing
Lieutenant General Waidi Shaibu, Nigeria's Chief of Army Staff, called on the country's banking industry to strengthen efforts to disrupt terrorism financing and other illicit financial flows.
South Africa attorney Trudie Broekmann criticises banks over treatment of fraud victims
Trudie Broekmann, a consumer attorney at Trudie Broekmann Attorneys, published an open letter to South African government and regulators criticizing how banks treated customers after account fraud.
Lawyer urges South Africa's finance minister to make banks reimburse scam victims
Attorney Trudie Broekmann's open letter calls for a mandatory reimbursement regime for fraud victims modelled on the UK's authorised push payment scam rules.
United Capital Group secures investment banking license to operate in Ethiopia
Nigeria’s United Capital Group secured regulatory approval from the Ethiopian Capital Market Authority to operate investment banking in Ethiopia, becoming the first foreign investment bank licensed in the country.
Central Bank of Nigeria sets N100 million penalty for FX deals without proper documents
Nigeria’s revised Foreign Exchange Manual, effective 1 June 2026, sets a N100 million fine for authorised dealers that process FX transactions without adequate documentation.
Maplerad CEO says fragmentation slows Africa’s cross-border payments and commerce
Maplerad founder and CEO Obinna Chukwujioke said in a Nairametrics interview that fragmented cross-border payments slowed Africa’s digital economy and that interoperability would determine regional e-commerce success.
Standard Bank details how Africa's wealthy have built significant fortunes over time
Jacques Els, head of wealth and investment at Standard Bank, discussed the bank's report on how Africa's wealthy had built their fortunes, including the rise of first-generation wealth and three archetypes of wealth creators.