AGP Executive Report
Last update: an hour agoEnergy Finance: Afreximbank and APPO have formally launched the Africa Energy Bank in Abuja, with $5bn in authorised capital and Helmy Ghazi as its first president. The lender aims to help close an estimated $200bn energy investment gap as traditional financing retreats. Digital Finance: Airtel Africa’s mobile-money trust balances rose 28.9% to $1.49bn, while customers increased to 60.9 million. The growth underscores the expanding role of mobile wallets as cross-border payments emerge as a major opportunity for African fintechs. Development Funding: The African Development Bank raised 1bn dirhams in its first Moroccan dirham bond, widening its funding sources for development projects. Banking Oversight: Standard Bank faces a complaint alleging misleading climate claims in its public reports and advertising; the Advertising Regulatory Board will assess whether it is valid. Customer Protection: Nigeria’s Court of Appeal upheld UBA’s liability for a staff member’s fraudulent diversion of a customer’s ₦71.6m investment, reinforcing banks’ responsibility for misconduct carried out through their systems.
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