Naija currency don see another round of pressure as e fall reach N1,389 to one dollar on Tuesday. This one happen as our external reserves drop by about $850 million within just three weeks, according to data wey come from Central Bank of Nigeria. Trading activity show say naira dey fluctuate between N1,381 and N1,390 during the session, with average rate of N1,386.3. This one point to mild but persistent strain for foreign exchange market.
Interbank activity remain steady, with 71 deals wey dem record and turnover pass $48 million. The recent dip for reserves, wey fall to $49.18 billion between March 11 and April 2, signal reversal from earlier gains wey don lift Nigeria buffer to 13-year high. Market watchers say this decline dey begin test confidence, especially as demand for foreign exchange remain firm.
Global developments also shape sentiment, with easing tensions between United States and Iran wey weaken dollar and lift major currencies like euro, pound, and yen. The shift follow ceasefire announcement by Donald Trump, wey help calm earlier fears around supply chain disruptions. Despite global dollar softness, analysts say Nigeria position remain vulnerable. Recent moves by OPEC+ to adjust output levels and shift oil market dynamics continue to influence inflows, adding another layer of uncertainty for naira.
But as Naija dey manage currency wahala, Ghana Stock Exchange (GSE) don officially become Africa best-performing securities market. The initial round of 1st quarter bourse reports show say GSE rally top 43% as Tanzania, Nigeria and Zimbabwe gain more than 30% – all in dollar terms. The value of dollar dey weaken while African currencies dey stabilise or rally, considerable turnaround after years of FX losses, boosting returns for local and foreign investors.
According to Bloomberg, Nigeria Naira na world second best performing currency this year, having gain over 7% against dollar this quarter. Yields on fixed-income investments, especially bonds dey fall as central banks lower interest rates, prompted in part by falling inflation, bolstering investor confidence for security markets.
Ghana world-leading 20% stock index gain, top 92 indexes wey Bloomberg track. Only 11 other indexes make gains for March, with South Africa FTSE/JSE All Share Index, wey lose 20%, being weakest performer in dollar terms. Ghana fixed income market post sharp surge in activity for February 2026, with total trading volume climb 88.29 percent compared to same month last year, according to official monthly report wey GSE release.
The Ghana Fixed Income Market (GFIM) record total trading volume of GH₵41.64 billion for February 2026, up from GH₵22.11 billion for February 2025. Value of securities traded over same period rise 113.88 percent to GH₵38.26 billion from GH₵17.89 billion year earlier. For first two months of 2026 combined, cumulative volume reach GH₵78.55 billion, more than double GH₵39.01 billion traded for same period of 2025, year-on-year increase of 101.36 percent.
Analysts tout Ghana revamped fiscal policies, wey don help reduce inflation, with interest-rate cuts enhancing country economic outlook. The improved fundamentals don solidify Ghana brand as frontier market with enabling business environment even though underlying liquidity risks remain.
For Nigeria side, telecommunications giant Airtel Africa spearhead strong rebound on Nigerian stock market, rally by 10% to lead gains on Nigerian Exchange (NGX) and lift investor confidence after heavy selloffs. Nigerian bourse go further boosted by Dangote refinery intended IPO later this year. The much-awaited listing on NGX expected to position refinery to unlock significant domestic and foreign investor interest while reshaping depth and valuation dynamics of NGX.
President of Dangote Group, Alhaji Aliko Dangote, disclose say shares of Dangote Refinery go list on NGX within next four to five months. Analysts predict say e go also strengthen Naira further. On related note, Nigeria Zenith Bank dey eye London listing for global growth strategy.
Lithium Africa Corp announce say e don begin trading on Frankfurt Stock Exchange under symbol “6MQ”. Nairobi Stock Exchange (NSE) dey generate significant momentum because of recent listing of Kenya Pipeline Company. Company IPO close oversubscribed, with results show say Kenyan institutional investors, rumored to be mostly National Social Security Fund, and East African buyers absorb most of KSh106.3Bn share sale.
E anticipated say East African bourse activities go further heightened by recent Safaricom MPESA Ziidi trading app launch, especially since MPESA just cross 40 million active users. Trading at NSE enter new phase after rollout of Safaricom Ziidi Trader pushing daily equity deals above 20,000 for three consecutive sessions, breaking long-standing records.
According to Bloomberg, JSE don see dwindling for listings from 2017 to 2024 but listing pick up for 2025 and go hopefully continue for 2026. Dipula Properties set to enter new phase of growth and visibility following inclusion in key FTSE/JSE property indices, development wey underscore rising profile within South Africa listed real estate sector.
JSE also list Ivy EasyETFs AI Innovation Actively Managed Exchange Traded Fund (AMETF), offering investors exposure to global artificial intelligence opportunities through single locally traded instrument. Fund, trading under code IVYAI, provide access to companies developing and applying AI technologies across sectors.
Meanwhile, Optasia, wey go public as Africa local Fintech IPO last year on JSE, acquire Finergi for $29.2M in energy-credit convergence play. South Africa anti-trust regulator dey hold private talks with telecoms industry about relaxing competition rules, signaling say regulators for Africa biggest economy fit willing make changes wey go unleash wave of M&As for sector.
Discussions na direct response to calls for looser rules from industry led by MTN Group, Africa biggest mobile operator, wey argue say existing rules, written for cheap voice calls, risk leave country behind as operators worldwide consolidate to finance 5G and AI. Ralph Mupita, CEO of MTN Group, wey currently chair GSMA, global mobile industry body, draw examples from China, India and US, where handful of dominant players don marshal scale to roll out nationwide 5G and fiber, and South Africa should consider similar consolidation to attract investment needed for 5G, 6G and AI.
Shoprite Group announce plans to acquire majority stake in R&A Cellular, point-of-sale service provider focused on informal market, pending regulatory approval. Shoprite say acquisition na deliberate step towards extending financial services ecosystem into South Africa informal economy.
Aga Khan Fund for Economic Development sell majority stake in Nation Media Group to Tanzanian Businessman, Azizi Taarifa Group, ending Aga Khan IV family 66 year stewardship and marking Kenya most significant media ownership change in decades. Nation Media Group own major newspapers across East Africa, including Daily Nation, Business Daily, and East African. For Uganda e own Monitor. For Tanzania e publish Mwanaspoti and Mwananchi ni Swahili and The Citizen while for Rwanda e get Rwanda Today. E also own numerous TV and radio stations and news websites. Shares in Nation Media Group gain nearly 30% on NSE since transaction announce.
Centum Investment Company complete sale of entire remaining interest in Sidian Bank, closing 22-year investment wey begin as speculative 1.66% stake in microfinance institution and end with total cash recovery wey appear exceed original entry cost. NSE listed investment firm announce on 12 March 2026 say e don sell 50% stake in Bakki Holdco Limited, holding vehicle through which e own 13.6% in Sidian Bank.
First exit attempt come for June 2022, when Centum sign binding agreement to sell full 83.43% stake to Nigeria Access Bank for KSH4.3B, against total entry cost of approximately KSH4.7B. Equity Group dey restructure to spin off technology and data division into independent entity by late 2026, aiming to decouple high-growth fintech operations from core banking business.
Nigerian digital payments provider Moniepoint acquire 78% stake in Sumac, Kenyan microfinance bank, to build on expansive trajectory wey make am one of Africa fastest-growing financial services companies. Moniepoint evolve over last five years from provider of technology solutions for banks to itself becoming digital bank, notable among merchants for speedy transactions. Last year e launch international remittance service to target payments by Africans living overseas.
In related development, Moniepoint also acquire Orda Africa, end-to-end business management platform for restaurants and food businesses. Orda join Moniepoint, expanding solutions for food service businesses. These na strategic acquisitions to expand footprint on continent as well as foray into sectors where payment process platform fit build niche. Moniepoint dey make these acquisitions with $200M series C e recently raise to expand financial inclusion in Africa.
Converted, company specialising in AI-powered advertising technology for emerging markets, announce acquisition of Mitcha, one of Egypt leading e-commerce platforms dedicated to supporting local designers. Acquisition mark strategic step toward expanding data-driven digital commerce ecosystem focused on measurable outcomes and real conversions.
By integrating Mitcha network of designers and customers, Converted aim to strengthen ability to build advertising products wey translate marketing spending into verified sales. UK-based software provider Klipboard acquire South African sales operations platform Skynamo. Skynamo found for 2012 by Sam Clarke. Company provide mobile-first, cloud-based platform for manufacturers, wholesalers, and distributors.
Klipboard na global provider of vertically focused business management software serving over 55,000 enterprise and SMB customers worldwide. Between 2016 and 2025, fifty African ventures raise $100 million from Ghana, Senegal, Algeria, Tunisia, Egypt, Nigeria, Kenya, Rwanda and South Africa. These companies na class of next generation M&As and candidates for IPO – these go exponentially grow momentum wey exchanges currently experience.
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