Circle Teams with Sasai Fintech to Boost USDC in Africa
Circle Internet Group has partnered with Sasai Fintech, part of Cassava Technologies, to integrate USDC into digital payments across Africa, slashing costs and settlement times for remittances and business transfers in 30+ countries. The move taps booming stablecoin demand amid currency volatility.
M-Pesa Ethiopia Strikes Amhara Tax Payment Deal
M-Pesa Ethiopia has inked an MoU with the Amhara Regional State Revenue Bureau, enabling over 450,000 taxpayers to pay via mobile money and bypass physical offices. The pact marks a milestone in Ethiopia's digital public services push amid surging M-Pesa adoption.
Kenyan Banks Surge Domestically and Regionally in 2025
Kenyan banks posted robust 2025 profits, with Equity Group up 55% to Sh75.5 billion and KCB at a record Sh68.35 billion, fueled by interest income growth and East African expansion. Equity and KCB rank among the world's top 10 strongest banking brands.
South Africa's Happy Pay Secures $5M Seed Led by Partech
Cape Town-based BNPL innovator Happy Pay raises $5 million in seed funding to scale its ad-subsidized, zero-interest payments network serving 600,000 users. Partech leads with local VCs backing merchant-funded model amid South Africa's costly credit landscape.
South African Banks' Profits Surge Bolsters Sector Stability
South African banks' combined headline earnings climbed 9.4% to R152.5 billion, outpacing regional growth and fortifying stability amid macro challenges. This resilience underscores tech adoption and diversification as key drivers.
Nigeria's EIB Global, BOI Bolster Private Sector, Agri Ties
EIB Global and Nigeria's Bank of Industry have deepened their partnership to drive private sector growth and sustainable agriculture, building on decades of collaboration amid economic diversification efforts. The move aligns with EU's Global Gateway strategy to foster resilient supply chains in ...
Kenya's National Bank Doubles Profit to KSh 2.39 Billion Post-Access Acquisition
National Bank of Kenya more than doubled its profit after tax to KSh 2.39 billion in 2025, fueled by Access Bank's takeover, sharp cost cuts, and better asset quality. The lender eyes growth in 2026 amid fierce East African banking rivalry.
Morocco's Bank of Africa Logs 4% Profit Drop on Drought Woes
Bank of Africa, Morocco's second-largest lender, reported a 4% quarterly net profit decline on March 23, 2026, hit by surging loan loss provisions from drought-stricken agriculture and non-performing loans climbing to 8.5%. Management vows tighter credit amid flat deposits and steady 180 billion ...
Sub-Saharan Central Banks Adopt Hawkish Holds Amid Inflation Surge
Central banks in South Africa, Nigeria, Kenya, and Ghana signal firm rate holds as oil shocks from the Hormuz crisis push inflation higher, with markets pricing in hikes across emerging Africa. Policymakers prioritize price stability over growth in a volatile energy landscape.
UBA, BII Ink Africa-Wide Trade Finance Pact
United Bank for Africa and British International Investment have signed a letter of intent to boost trade finance across 20 African countries, targeting the continent's $80 billion gap. The deal leverages AfCFTA to aid SMEs with working capital and letters of credit.
Equity Group Hits Record KSh75.5bn Profit on Uganda Boom
Equity Group Holdings reported a 55% profit surge to KSh75.5 billion, propelled by a stunning 500% turnaround at its Uganda unit. The results underscore the bank's shift to regional dominance amid East African expansion.
Standard Bank Funds Enko Education's $22m Africa Expansion
Standard Bank has provided a $22 million multi-currency facility to Enko Education, enabling acquisitions across African borders. The deal underscores growing financial support for the continent's education sector amid rising demand for quality schooling.