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- Afreximbank first quarter 2025 net profit surges by 21% to $215 million
- As US tariffs sting, AfDB’s Adesina calls for bold realignment of African trade
- Africa’s leapfrogging from oil and gas is not the quick energy fix the world seems to think it will be
- Dry weather spell sours Kenya’s first quarter tea exports
- Tanzania’s X blockade signals deepening purge on opposition chiefs ahead of elections
- Fresh reforms to unlock Burkina-Ghana trade opportunities
- Integration vital in unlocking Africa’s $180Bn digital trade economy
- Tanzanian Prof Janabi nominated to steer WHO Africa Region office
Banking
- Afreximbank posts strong net earnings of $215 million, a 21% increase year-on-year from $178 million in the prior period.
- Net interest income increased by 4.53% to $411.2 million compared to Q1 2024, attributable to growth in interest earning assets.
- Fee income from guarantees and letters of credit growth by 47% and 36% respectively during the quarter.
The African Export-Import Bank, widely referred as Afreximbank has reported a 21 per cent increase in its net earnings to $215 million for the first three months of 2025. According to an update on May 22, the lender said its performance for the period ended March 31, 2025, met expectations with solid profitability, strengthened liquidity and a resilient capital base.
“Our Q1 2025 results, which were in line with expectations, reflected a strong and resilient financial performance, notwithstanding continued macroeconomic challenges. With solid profitability growth, a strengthened liquidity position, and a well-capitalised balance sheet, …
- The Board has proposed a final dividend of $0.012 per share, bringing the total payout for the year to $0.023 per share—amounting to $74 million.
- Lender’s balance sheet closed the year at $15.13 billion (KSh1.96 trillion), powered by a strong deposit growth and stable loan portfolio.
- Operating costs grew by 11.8% to $717 million (KSh92.9 billion), driven by staff costs, and tech investments.
KCB Group profit after tax for the full year 2024 grew by 64.8 per cent to $477 million (KSh61.8 billion), attributable to strong expansion across all its businesses subsidiaries in the East African market.
This performance was an increase from the $289.5 million (KSh37.5 billion) which the bank that has presence in Kenya, Uganda, Tanzania, Rwanda, Burundi, the Democratic Republic of Congo (DRC) and South Sudan reported during a similar period in 2023.
“The strong performance illustrates our resolve over the past 3 years to build an …
- An alliance of two UK institutions—the Ghana International Bank and the British International Investment (BII)—is tailored to address trade finance needs in key African markets.
- The two institutions have committed $50 million in trade finance facilitation targeting industry stakeholders in Rwanda, Tanzania, Sierra Leone, Liberia, The Gambia, Benin, the DRC.
- The financing plan seeks to plug banking industry gaps that continue to perpetuate general lack of credit appetite for frontier markets in Africa.
A UK-based African financial institution, the Ghana International Bank has entered into a $50 million trade finance agreement with British International Investment (BII) to fund organisations in eight countries across the continent.
In a statement on Monday, the UK’s development finance institution (BII) said the trade finance facility will target investments in Tanzania, Rwanda, Sierra Leone, Liberia, The Gambia, Benin, and in the Democratic Republic of Congo.
“I’m delighted to see two UK institutions coming together to …
- A staggering $16.2 million from the Bank of Uganda (BoU) was wired into suspect accounts in Japan, audit shows.
- Uganda’s Auditor-General fingers systemic flaws and possible criminal intent in the November 2024 cyber heist.
- Parliament has now forwarded the file for further investigantion by Uganda’s Directorate of Criminal Investigations (CID).
In a high-stakes digital heist, hackers infiltrated Uganda’s treasury systems, siphoning off a staggering $16.2 million (approximately USh60 billion) from the Bank of Uganda (BoU). The theft, first reported in November 2024, sent shockwaves across the country, prompting a forensic audit by the Auditor-General.
The findings of this audit have since ignited intense investigations by the Directorate of Criminal Investigations (CID), laying bare the vulnerability of Uganda’s financial systems.
Auditor-General report on $16.2 million cyber theft
The explosive revelations landed in Parliament on January 9, 2025, where Government Chief Whip Denis Hamison Obua presented the Auditor-General’s report. The report painted …
- Development of the Misurata Free Zone, road to Chad and Niger, and support for the Sahel-Saharan Bank for Investment and Trade are some of the key projects targeted in new era of cooperation.
- The partnership is poised to facilitate the development of vital infrastructure, bolster trade, and support Libya’s efforts in economic diversification and reconstruction.
- With a GDP of $50.49Bn in 2023, Libya is ranked as Africa’s 12th largest economy. However, less than 10% of its trade occurs with other African nations.
Libya has formally acceded to the Afreximbank Establishment Agreement, becoming the 53rd member nation of the pan-African financial institution. The entry of oil-rich Libya marks a crucial step in advancing continental integration through trade and investment.
Signed by Libya’s Minister of Finance, Dr. Khaled Al-Mabrouk Abdullah, the accession document sets the foundation for a new era of cooperation between Libya and African Export-Import Bank (Afreximbank). The partnership is …
- Unlike conventional bonds that generate returns through fixed interest payments, Sukuk generates returns through the ownership of underlying assets, thereby avoiding the prohibitions of Riba (interest) and excess Gharar (uncertainty).
- Global Sukuk market has witnessed significant growth over the last two decades, diversifying its presence across regions such as the Middle East, Southeast Asia, Europe, and Africa.
- The outlook for the sukuk market indicates a continued upward trend, with projections suggesting it will reach $2,160.55 billion by 2028.
Sukuk, commonly known as Islamic bonds, represent a unique financial instrument in the context of Islamic finance, distinguished by their adherence to Shariah compliance. Unlike conventional bonds that generate returns through fixed interest payments, Sukuk generates returns through the ownership of underlying assets, thereby avoiding the prohibitions of Riba (interest) and excess Gharar (uncertainty).
This Shariah-compliant structure renders Sukuk an appealing option for both Muslim and non-Muslim investors seeking ethical and socially …
- Sudan has stepped forward, increasing its pledge to $3 million in the African Development Fund.
- Sudan’s pledge aligns it with other African nations, which have each committed to raise at least $1 million to the fund by 2025.
- With backing from The Gambia, Liberia, Sierra Leone, and Ghana, Africa’s commitment to funding its key projects is strengthening.
African nations are coming together to secure a $25 billion replenishment for the African Development Fund (ADF), an ambitious target that signals a continent-wide push toward self-driven financing for projects.
In the latest update, Sudan has stepped forward, increasing its pledge to $3 million in this collective movement. With backing from countries including The Gambia, Liberia, Sierra Leone, and Ghana, Africa’s commitment to funding its development projects is strengthening.
As governments, led by the African Development Bank (AfDB), advocate for this replenishment, they set a critical precedent for financial autonomy in achieving Africa’s …
- Less than 40% of adult population in Tanzania has bank accounts.
- Central Bank aims to increase integrated financial services access to 80% by 2028.
- Lack of collateral affecting disadvantaged populations from accessing bank credit.
Financial inclusion in Tanzania has increased considerably but with less than 40 per cent of the adult population having an account at financial institution, a pointer that policymakers in the country have a lot of work to do. To this end, the government, through the Bank of Tanzania (BoT), has announced plans to increase integrated financial services access to 80 per cent of the population by 2028.
BoT Deputy Governor, Ms. Sauda Kassim Msemo recently told media that financial services inclusion is crucial for sustainable economic growth of the East African nation. “The government continues to create a conducive investment environment, but we need to grow financial inclusion, especially access to banking,” she said.
She pointed …
