One of South Africa's major banks, Absa, has reaffirmed its commitment to boosting financial performance, setting a target to raise its return on equity to 16% by 2026, as it continues to trail some of its peers. Group CEO Kenny Fihla says efforts are also underway to appoint permanent leaders for key divisions, including Personal and Private Banking, as well as Corporate and Investment Banking. Channel Africa's economics reporter, Innocent Semosa, has the details..."

One of South Africa's major banks, Absa, has reaffirmed its commitment to boosting financial performance, setting a target to raise its return on equity to 16% by 2026, as it continues to trail some of its peers. Group CEO Kenny Fihla says efforts are also underway to appoint permanent leaders for key divisions, including Personal and Private Banking, as well as Corporate and Investment Banking. Channel Africa's economics reporter, Innocent Semosa, has the details..."

In-depth financial issues, profiling of African businesses doing well internationally, stocks & market updates.

In-depth financial issues, profiling of African businesses doing well internationally, stocks &amp; market updates.

Business Africa

Africa in Business

ABSA's newly appointed Group CEO, Kenny Fihla, outlines his strategy for the bank

A high-level South African delegation, led by Finance Minister Enoch Godongwana, has arrived in the snow-covered Swiss town of Davos for the World Economic Forum Annual Meeting 2026.

The team is set to showcase South Africa's recent economic gains and court investment at a time of growing global uncertainty. Running from 19 to 23 January under the theme "A Spirit of Dialogue," the forum brings together global leaders from government, business and civil society, and South Africa intends to play an active and influential role.

Channel Africa's economics reporter Innocent Semosa has more.

A high-level South African delegation, led by Finance Minister Enoch Godongwana, has arrived in the snow-covered Swiss town of Davos for the World Economic Forum Annual Meeting 2026.
The team is set to showcase South Africa's recent economic gains and court investment at a time of growing global uncertainty. Running from 19 to 23 January under the theme "A Spirit of Dialogue," the forum brings together global leaders from government, business and civil society, and South Africa intends to play an active and influential role.
Channel Africa's economics reporter Innocent Semosa has more.

South African delegation in Davos  for the World Economic Forum Annual Meeting 2026

Libya's central bank has devalued the dinar by 14.7%, setting the official exchange rate to about 6.3 to the US Dollar, marking the currency's second adjustment in less than a year. In a statement, the bank says the move reflects the adverse impact of continued political divisions, declining oil revenues amid lower global oil prices, and ongoing economic pressures.

These challenges include the absence of a unified national budget and escalating public spending, which have strained the country's financial stability.

Thami Ngubeni spoke to Dr Tafadzwa Ruzive, a Post-doctoral researcher at the University of Free State Office of International Affairs

Libya's central bank has devalued the dinar by 14.7%, setting the official exchange rate to about 6.3 to the US Dollar, marking the currency's second adjustment in less than a year. In a statement, the bank says the move reflects the adverse impact of continued political divisions, declining oil revenues amid lower global oil prices, and ongoing economic pressures.
These challenges include the absence of a unified national budget and escalating public spending, which have strained the country's financial stability.
Thami Ngubeni spoke to Dr Tafadzwa Ruzive, a Post-doctoral researcher at the University of Free State Office of International Affairs

Libya's central bank devalues the Dinar by 14.7%, setting official exchange rate at about 6.3 to the U.S. Dollar

The Kenyan government has launched the sale of a 65% stake in its state-owned petroleum transporter, Kenya Pipeline Company, as part of a broader push to offload high-value assets to finance major infrastructure projects.

The proceeds are expected to support road construction, the modernisation of ports and airports, and the expansion of energy infrastructure. President William Ruto's administration aims to raise $825 million from an initial public offering of KPC, which would mark Kenya's first IPO since 2015.

Thami Ngubeni spoke to Ruth Kinyanjui, an economist and Governance expert based in Kenya.

The Kenyan government has launched the sale of a 65% stake in its state-owned petroleum transporter, Kenya Pipeline Company, as part of a broader push to offload high-value assets to finance major infrastructure projects.
The proceeds are expected to support road construction, the modernisation of ports and airports, and the expansion of energy infrastructure. President William Ruto's administration aims to raise $825 million from an initial public offering of KPC, which would mark Kenya's first IPO since 2015.
Thami Ngubeni spoke to Ruth Kinyanjui, an economist and Governance expert based in Kenya.

ABSA's newly appointed Group CEO, Kenny Fihla, outlines his strategy for the bank

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