Financial markets, banking, economic policy, and business news.
Nigeria's currency weakened N3.25 at the official foreign exchange window while strengthening N25 in the parallel market to N1,340/$, as crude oil prices extended gains amid escalating US-Iran tensions.
Lagos State has begun implementing a 5% withholding tax on gaming winnings in line with federal tax regulations, as Nigerian authorities intensify revenue mobilization efforts ahead of stricter compliance requirements for 2026 business filings.
Diageo South Africa has appealed to Finance Minister Enoch Godongwana to halt planned alcohol tax increases, warning that excise duty on spirits could exceed R100 per 750ml bottle if annual adjustments proceed in the upcoming budget.
The Capital Markets Authority has granted Kenya Pipeline Company an extension to Tuesday for its public offering, signalling sustained investor interest in East African infrastructure assets despite regional market volatility.
Digital investment platforms are reshaping Nigeria's capital markets as fintech applications expand access to equity trading, drawing hundreds of thousands of first-time investors into the Nigerian Exchange.
Nigeria's National Assembly has proposed ₦1.5 trillion in take-off funding for the creative economy ministry, as academic leaders emphasize innovative research as critical to the country's industrial development ambitions.
Kenya reverses port privatisation while Ethiopia loosens foreign exchange restrictions and South Africa adjusts toll rates, revealing competing philosophies on state control versus market liberalisation across the continent.
Gold prices remained range-bound in thin trading volumes as markets awaited critical US PCE inflation data, while Kenyan authorities charged a Nairobi forex trader in a Sh32 million fraud scheme involving claims of processing 495kg of gold for export.
Consumer spending activity decelerated sharply in December, with retail sales growing at their slowest pace since August, signaling potential headwinds for Zimbabwe's economic recovery despite a robust November performance.
Nigeria's foreign exchange reserves reached $48.5 billion, the highest level since 2013, while Sterling HoldCo completed its oversubscribed public offer and FMBN posted a 68.4% year-on-year surplus increase, signaling robust recovery across the financial sector.
The Capital Market Academics of Nigeria has endorsed President Tinubu's Executive Order requiring direct remittance of oil and gas revenues to the Federation Account, calling it a significant fiscal transparency measure while recommending its extension to joint venture assets.
Business executives at the European Business Chamber Nigeria conference have identified weak investor protections and policy inconsistency as critical barriers to attracting foreign capital, calling for urgent institutional reforms.
Business chambers LCCI and CPPE identify transition from acceleration to disinflation in Nigeria's January inflation figures, though both organizations emphasize price stability remains elusive amid ongoing monetary policy challenges.
Central Bank of Nigeria Governor Olayemi Cardoso calls for integrated approach linking climate adaptation with industrialization and employment generation across the continent.
The proposed merger between Unity Bank Plc and Providus Bank Limited moves closer to completion with shareholder approval and regulatory support, signaling a new phase of consolidation in Nigeria's banking sector.