African banks are still pouring money into artificial intelligence. What has changed is that their boards now want to see the receipts.
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Phil Mnisi, governor of the Central Bank of the Kingdom of Eswatini, and Hassan Abdullah, governor of the Central Bank of Egypt (Image
Kenyan banks continue to dominate East Africa, but the latest global rankings tell a deeper story than regional bragging rights. Measured by Tier 1 capital, the core buffer that determines a bank’s ability to absorb losses, fund large projects and support future growth, three Kenyan lenders ranked among Africa’s 25 strongest. The results also highlight…
Kenya has reinforced its status as East Africa’s financial hub after three of its banks ranked among Africa’s 25 strongest by capital in the latest The Banker Top 1,000 World Banks survey.
It’s a complicated question, and in banking and financial services, the answer is beginning to determine real competitive advantage.
The latest move comes from South Africa’s Absa Group, which plans to spend about $238 million to increase its stake in Absa Bank Kenya from 68.5% to as much as 85%, deepening its commitment to one of East Africa’s most profitable banking markets
The benchmark index on the Nigerian Exchange rose 0.61% to close at 219,586.20, lifting year-to-date returns to 41.11%
It signals how Africa’s fintech industry is changing as investors demand sustainability, regulators tighten oversight, and larger players race to build financial ecosystems that extend beyond payments into banking, lending, treasury management and business finance