AGP Executive Report
Last update: 38 minutes agoSovereign Credit Boost, FX Volatility: Fitch upgraded South Africa’s sovereign rating to BB from BB-, lifting the rand briefly to around R16.22/$ before Middle East tensions pushed risk aversion and pressured the currency again. JSE Ownership Scrutiny: A new Black Ownership on the JSE report says Standard Bank and Nedbank still have under 1% black ownership and have not completed BEE deals for a decade, pointing to policy design failures. Nigeria Fintech Credit Upgrade: Payaza Africa secured multiple “A” ratings, including upgrades by DataPro, Intelligence Africa, Agusto and GCR, strengthening its position in Nigeria’s payments and lending ecosystem. Payments Infrastructure Debate: EMBank’s Ekmel Çilingir argues global finance power will hinge more on who controls payment rails than on dollar dominance. SME Funding Push (South Africa): FNB Business Banking’s Vumela fund invested R20m in Breaze Delivery to scale its logistics tech and expand driver networks. Ethiopia Capital Markets Opener: Nigeria’s United Capital became the first foreign firm to win an Ethiopia investment banking licence, committing $1.5m to operate from Addis Ababa. Public Finance & Inclusion: SASSA set July 2026 grant payment dates for older persons, disability and children’s grants, supporting about 27m beneficiaries.
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