• Equity Group anticipates regulatory changes, currency fluctuations, and the broader economic repercussions of global events as obstacles in the future.
• However, the regional lender looks well-positioned to overcome these obstacles due to its robust capital base, diversified business model, and continuous digital transformation.
• Analysis shows that industry-specific factors, market sentiment, and macroeconomic conditions may be exerting an impact on the stock’s performance.

Amidst the ongoing repercussions of the pandemic and geopolitical unrest on a global scale, Equity Group Kenya, arguably the largest financial institution in East Africa, has exhibited exceptional fortitude and expansion during the three months ending September 30, 2023.

In spite of the tough economic climate characterized by inflationary forces and disruptions in the supply chain, Equity Group has disclosed a consistent upward trend in its fundamental financial indicators. An important growth driver has been the bank’s emphasis on digital innovation and customer-centric services, which have significantly …

• Egypt’s entry is a huge step forward for Cellulant, which now offers a full suite of payment services throughout 35 African regions and integrates over 370 different payment methods.
• Cellulant has raised a total of US$55 million to date, making it one of the most heavily backed fintech startups in Africa and allowing it to support its ambitious expansion plans.
• CEO Ahmed Marwan says with over 40% the adult population in Egypt using prepaid cards and mobile wallets, the acquisition of these licences positions Cellulant to further streamline payment options for businesses.

Kenyan Fintech giant Cellulant, has announced its initial registration as a Payment Service Provider and Payment Facilitator in Egypt, a major development for digital payments in the Middle East and North Africa (MENA). This is a huge step forward for Cellulant, which now offers a full suite of payment services throughout 35 African regions and integrates more than …

In the ever-evolving world of global finance, oil-rich Saudi Arabia is emerging as a pivotal thread, weaving a narrative of economic collaboration and strategic partnerships. As the Saudi Fund for Development (SFD) unfurls its wings, it has inked a historic $580 million loan agreement with 12 African countries, marking a significant stride in the kingdom’s expanding role on the world financial stage.

Against the backdrop of evolving dynamics, where traditional financiers, especially China, are reassessing their commitments, Saudi Arabia’s ascent becomes a compelling tale of financial diplomacy, poised to reshape the contours of international economic relations. Saudi Arabia is positioning itself not just as a regional powerhouse but as a global player influencing the trajectory of world finance.…

• TransUnion survey shows four in 10 (41%) of Kenyan consumers reported a decrease in income over the past three months.
• A similar number or 42% of Kenyan consumers anticipate being unable to pay their current bills and loans in full.
• About 55% of Kenyan consumers plan to make further cuts to their discretionary spending. What’s more, 47% expect a decrease in large purchases such as cars.

A new survey by TransUnion has revealed a mixed financial outlook for Kenyan consumers in the second quarter of 2023. The research, presented at its annual Financial Services summit in Nairobi, found that while eight in 10 (79 per cent) expect their household incomes to increase in the coming year, four in 10 (41 per cent) reported a decrease in income over the past three months. A similar number or 42 per cent anticipate being unable to pay their current bills and loans in …

• The AfDB and the African Guarantee Fund have unveiled a fresh plan to enhance the financial inclusion of women in Nigeria’s economy.
• The duo have opened the AFAWA Finance Series Nigeria, part of the AfDB’s Affirmative Finance Action for Women in Africa (AFAWA) initiative.
• AFAWA Finance Series Nigeria will explore ways of enhancing the regulatory frameworks that can boost access to finance for women entrepreneurs.

Africa has the highest number of female entrepreneurs across the globe. However, the biggest obstacle they encounter is limited access to finance. Although access to financing poses a challenge to all small and medium enterprises, women-owned businesses are notably at a disadvantage.

It is estimated that the financial gap facing women entrepreneurs may reach up to $50 billion. This can be attributed to several factors, including deep-rooted social and cultural norms. These norms have historically restricted women’s ownership rights of assets that could serve as …