The first week of August highlighted the contrasting forces shaping Africa’s financial landscape. While Egypt’s pound extended its decade-long decline and Ghana’s inflation cooled, investor confidence gathered pace as Angola’s record IPO, Zimbabwe’s lithium boom and stronger trading on the Johannesburg Stock Exchange highlighted renewed momentum in the continent’s capital markets.
Here are the stories
Egypt’s pound leads decade-long currency slide among Africa’s largest economies
The Egyptian pound has suffered the steepest depreciation against the US dollar among Africa’s five largest economies over the past decade, highlighting how repeated devaluations and sweeping economic reforms have reshaped the country’s financial landscape.
Exchange rate data from African Markets shows the pound lost 82.7 percent of its value between August 2016 and July 2026, ahead of Nigeria’s naira (77.7 percent) and Ghana’s cedi (66.9 percent). Kenya’s shilling and South Africa’s rand proved significantly more resilient.
Why it matters: The decade-long depreciation underscores the difficult trade-offs many African governments face between exchange rate reforms, debt sustainability and economic competitiveness.
Ghana’s inflation falls to 4.6% in July, ending three-month climb
Ghana’s inflation eased to 4.6 percent in July from 5.3 percent in June, marking its first monthly decline since March and reinforcing signs that one of Africa’s fastest-growing economies is consolidating its recovery after its worst financial crisis in decades.
Annual inflation has now fallen sharply from 12.1 percent recorded a year earlier, supported by a stronger cedi and improving macroeconomic stability.
Why it matters: Lower inflation gives the Bank of Ghana greater room to continue easing monetary policy, reducing borrowing costs and supporting economic growth.
Outdated fraud systems could cost South African banks $160,000 annually
South African banks risk losing an estimated $160,000 in interchange revenue each year because outdated fraud detection systems incorrectly reject legitimate card transactions, according to a report by payment technology firm BPC.
The study found South Africa recorded the highest projected annual revenue losses among the markets analysed, ahead of Morocco, Malaysia and several European markets.
Why it matters: As digital payments expand across Africa, banks face growing pressure to modernise fraud detection systems without compromising customer experience or revenue.
How Angola’s biggest IPO could transform one of Africa’s youngest stock markets
Angola’s biggest-ever initial public offering has injected fresh momentum into one of Africa’s youngest stock exchanges after telecom giant Unitel raised $329 million in an offer that was more than 20 percent oversubscribed.
The landmark transaction is expected to deepen liquidity on the Bolsa de Dívida e Valores de Angola (BODIVA) and strengthen the country’s broader privatisation programme.
Why it matters: The successful IPO could pave the way for more listings, helping Angola diversify its economy beyond oil while offering a blueprint for other frontier exchanges seeking to attract investors.
Africa’s largest lithium producer triples export earnings on processing push
Zimbabwe generated $782 million from lithium exports during the first half of 2026, more than tripling earnings from a year earlier as the country strengthens its position in the global battery metals supply chain.
The export surge comes as Harare accelerates efforts to process more lithium domestically ahead of tighter restrictions on concentrate exports, while Chinese-backed investments continue to expand mining and processing capacity.
Why it matters: Zimbabwe’s strategy reflects a broader push across Africa to capture more value from critical minerals instead of exporting raw commodities, a key objective as global demand for battery metals grows.
Africa’s largest bourse posts double-digit earnings growth as trading activity rebounds
The Johannesburg Stock Exchange (JSE) reported an 18.1 percent increase in first-half EBITDA to R856 million, supported by stronger equity trading, post-trade services and disciplined cost management.
The results suggest investor participation is recovering in Africa’s largest equity market, with higher trading activity helping lift profits despite a challenging global environment.
Why it matters: Stronger earnings at the JSE add to growing evidence that investor activity is returning to African capital markets, complementing recent gains across exchanges in Zimbabwe, Nigeria and Ghana.
Bunmi Bailey
Bunmi holds a degree in Economics from the University of Lagos and has over eight years of experience in content writing and journalism.
Her career spans roles as a financial and business journalist at BusinessDay Media and TechCabal, and as Head of Research at SBM Intelligence, an Africa-focused market intelligence and strategic consulting firm.
She also served as Editor at Finance in Africa, a subsidiary of Businessfront and is currently Assistant Editor, Finance (Africa), at BusinessDay.
