Africa’s three largest and most influential economies delivered a rare moment of policy alignment this week. Nigeria, Ghana and South Africa all left interest rates unchanged, signalling that central banks are prioritising stability over further easing or tightening as they navigate fragile growth, stubborn inflation risks and global uncertainty.
Beyond monetary policy, the week also highlighted a new phase in African finance—from a global banking giant betting on South Africa despite an exodus of foreign lenders, to Absa expanding deeper into East Africa, Tanzania testing international debt markets and Zambia’s bond rally hinging on election certainty.
Why a global banking giant is defying South Africa’s foreign bank exit
South Africa’s banking landscape is undergoing an unusual transformation.
As European lenders continue to retreat from Africa after more than a decade of shrinking their footprint, one of the world’s largest banks is preparing to move in.
First Abu Dhabi Bank (FAB),
