The lowering of the rand/dollar exchange rate and an increase in assets keeps the country at the top of the pile.

News that South Africa’s financial sector has agreed to an ambitious black empowerment charter has pushed financial stocks upwards. The government-endorsed charter sets down detailed empowerment targets for companies, paving the way for as much as 25% of the sector’s value to be in black ownership by 2010.

While Gulf banks enjoy strong results, banks in non-oil countries have seen a drop in their profits. Stephen Timewell reports.

It is a wonder that Zambia’s banks survive, let alone make money, in a country where running costs are high, reports Gill Baker.