Nigeria has revitalised its banks following their crisis two years ago. They are now far healthier and are once again making strong profits. But the shake up of the industry will continue for a while yet, as the affects of recent consolidation – including the creation of two new top tier banks – begin to be felt.
Africa
Latest articles from Africa
Best prospects for Islamic finance outside core markets
November 1, 2011Several emerging markets with large Muslim populations combine low bank penetration and a high return on assets with a relatively small market share for Islamic banking, and thus provide further opportunities for growth in the Islamic finance sector.
Gabon president looks to a diversified future
November 1, 2011Gabon’s president, Ali Bongo Ondimba, tells The Banker that his reforms will help his country overcome its reliance on oil. But this is no easy task, with the country's growth set to slow this year and its economy hampered by bureaucracy and a lack of good infrastructure. Barbara Njau reports.
African currencies gain favour
October 3, 2011Most African currencies are in demand thanks to high rates of economic growth across the continent. Analysts foresee this trend continuing over the next decade, with foreign inflows pushing up foreign exchange trading volumes in many African countries.
Libya seeks outside help to modernise banking sector
October 3, 2011Libya's former central bank governor tells how the country's uprising will lead to many opportunities for investors in the oil, tourism, mining and banking sectors, as long as there is a return to stability.
Nigeria's Okonjo-Iweala vows to reform country's economy
October 3, 2011Ngozi Okonjo-Iweala’s recent appointment as Nigeria’s economic tsar has led to high expectations that the country can finally start to fulfil its vast potential. But, despite her intellect, boundless energy and standing among investors, the task is a daunting one.
Can Nigeria's new government lead it to prosperity?
October 3, 2011Nobody knows how many billions of dollars have been squandered by Nigerian officials since the country’s independence in 1960. By even the most conservative estimates, however, the scale of graft and bad governance has been staggering, meaning that Nigeria is still far from fulfilling its great economic potential.
New leadership prompts high hopes for change in Nigeria
October 3, 2011Mismanagement and corruption have stifled Nigeria's economy for decades. But this year’s elections have given hope that its leaders will finally embark on the deep reforms needed to modernise the resource-rich country and enable it to finally fulfil its vast potential.
Amcon bears the burden of Nigeria's troubled banks
October 3, 2011By taking on their non-performing loans, Nigeria’s state-owned bank, Amcon, has played a pivotal role in ensuring that the country’s banks are up and running again just two years after their crisis. However, its chief executive is keen to stress that its work is far from over.
Zimbabwe's finance minister knuckles down to an unenviable task
September 1, 2011Finance minister Tendai Biti has helped turn around Zimbabwe’s economy since taking office in 2009. But he faces a tough task trying to lure foreign investors to a country whose politics are still so messy.