Business News from Africa and Beyond
Africa's business scene is moving fast — from banks opening in Paris to billionaires swapping places. This page gathers clear, short reports on deals, market signals, policy shifts and leadership moves so you can spot opportunities and risks quickly.
Banks are expanding across borders. Zenith Bank opened a Paris branch to strengthen Africa‑Europe trade and serve francophone markets. Access Bank is buying Bidvest Bank in South Africa for R2.8 billion, a move that extends its foreign exchange and corporate banking capabilities. If you follow capital flows or trade corridors, these stories show where finance and services are concentrating.
Leadership changes shift strategy overnight. Standard Chartered named a local CEO in Vietnam, and similar hires or board reshuffles in African firms often signal new priorities or partnerships. Watch promotions and exits — they often forecast where firms will invest or cut back.
Market signals to watch
Short-term market moves matter for decisions today. Falling Brent crude pressured petrol and diesel prices, easing costs for transport and manufacturers. Stock futures and currency strength give a quick read on investor mood before markets open. If you run a business or manage a portfolio, track oil, exchange rates and futures to anticipate cash flow and pricing changes.
Policy debates with real impact
Policy headlines aren’t just noise. Debates about minimum wage show tradeoffs between improving incomes and keeping jobs affordable for small firms. Credit ratings and political outcomes — like Moody’s warnings after a hung parliament in France — can influence lending costs and investor appetite here. Focus on likely regulatory steps, not just the headlines.
We also cover big wealth moves and what they mean for markets. Johann Rupert overtaking Aliko Dangote as Africa’s richest person reflects shifting asset values and sector strengths. Such changes can influence investor sentiment and media attention, which in turn affects stock prices and brand value.
How to use this page: scan headlines for deals affecting your sector, open stories that mention your markets or competitors, and note repeated themes like consolidation, foreign expansion, or currency pressure. When you open a story, look for four quick facts: deal size, geography, regulatory hurdles, and leadership changes. Those details usually explain the wider impact.
We update the Business section often with concise reports and practical angles for investors, entrepreneurs and business leaders. Want faster updates? Subscribe to alerts or follow our daily briefs to get short, usable takes that cut through the noise.
Zenith Bank Makes a Bold Move with Paris Branch Opening Amid Celebrations
Zenith Bank inaugurated a new branch in Paris, setting the stage for expanded financial ties between Africa and Europe. Attended by prominent Nigerian figures and business leaders, this move highlights Nigeria's strategic role in Africa-Europe trade. This branch will serve as a conduit for investment and trade, with plans to further expand into Francophone Africa.
Access Bank Expands Footprint in South Africa with R2.8 Billion Bidvest Acquisition
Nigerian financial giant Access Bank is making a bold entry into South Africa's banking landscape with its acquisition of Bidvest Bank Holdings for R2.8 billion. This strategic move not only solidifies Access Bank's ambition to enhance its African presence but also leverages Bidvest's specialization in foreign exchange and corporate banking. Regulation approvals will pave the way for Access Bank to operate its advanced financial solutions in South Africa.
Standard Chartered Bank Appoints First Local CEO, Nguyen Thuy Hanh, to Lead Vietnam Operations
Standard Chartered Bank Vietnam has appointed Nguyen Thuy Hanh as its CEO and head of banking and coverage, marking her as the first local executive in this role. This leadership change reflects the bank's dedication to nurturing homegrown talent and aims to accelerate its growth in the Vietnamese market.
South African Businessman Johann Rupert Takes the Crown as Africa's Richest Man, Dethroning Aliko Dangote
Johann Rupert from South Africa has overtaken Nigeria’s Aliko Dangote to become Africa’s richest man. Rupert's net worth has skyrocketed from $1.9 billion to $14.3 billion, making him the 147th wealthiest person globally. This significant surge places him well ahead of Dangote, who held the title for years.
Moody's Warns of Economic Challenges for France After Election Stalemate
Moody's has raised concerns about France's economic outlook following legislative elections that resulted in a hung parliament. The New Popular Front (NFP) won the highest number of seats, followed by President Macron's Ensemble party and the far-right National Rally. The lack of an absolute majority could lead to political gridlock and may complicate efforts to manage the nation's debt. France's budget deficit and public spending are other critical points highlighted by the credit rating agency.
Significant Drop in Petrol and Diesel Prices Expected as Brent Crude Oil Weakens
Expect a noticeable decrease in petrol and diesel prices on Wednesday as Brent crude oil prices falter. With a stronger rand and increased oil production, motorists can look forward to paying less at the pump. The change reflects broader market shifts, including a gradual transition to clean energy.
The Hidden Costs of Mandating Minimum Wage: A Comprehensive Analysis
Minimum wage laws, while intended to help workers, can have unintended negative consequences. Azu Ishiekwene argues that these laws can harm low-skilled workers, reduce job opportunities, and lead to higher prices. Alternative solutions like Earned Income Tax Credits and conditional cash transfers may offer better outcomes without the drawbacks of minimum wage mandates.
Market Caution Prevails as Stock Futures Show Little Movement Ahead of June's First Trading Day
Stock futures showed minimal movement before June's first trading day, reflecting market caution. Despite a strong May, with the Nasdaq Composite surging 6.9%, tech stocks like Nvidia faced setbacks. Investor anticipation and interest rate concerns loom large, with key economic updates expected, including manufacturing data and a crucial jobs report in the first week of June.