Standard Bank

Ghana is experiencing external challenges from rising oil prices and increased shipping costs due to Middle East geopolitical tensions. Standard Bank has reduced its 2026 current account surplus projection by $1 billion, mainly due to higher petroleum import costs, highlighting Ghana's vulnerability to global energy market fluctuations.

Xenophobic unrest in South Africa has disrupted businesses, prompting companies to prepare for ongoing instability. Executives warn of economic harm from foreign worker exoduses and labor shortages, with specific impacts on logistics and manufacturing sectors.

Standard Bank states that South Africa's economy is nearing 'escape velocity.' Highway construction is highlighted as part of the country's economic activities.

China's central bank designated Standard Bank and ICBC as Africa's first Renminbi Clearing Bank, enabling 19 countries to settle trade in yuan instead of dollars.

Ghana's economy is projected to grow between 5.9% and 6.1% in 2026, driven by gold mining, infrastructure investments, and stronger foreign exchange buffers, according to Standard Bank's Africa Research Head Jibran Qureishi.

Standard Bank aims to expand by $15.4 billion in Nigeria and African SME markets. The bank reported doubled earnings and return on capital since 2020 while maintaining growth in African markets.

South Africa's Standard Bank aims to become Kenya's largest lender by 2030, leveraging regional trade, infrastructure projects, and digital partnerships. It faces competition from established Kenyan banks like KCB, Equity, and Co-op, while the IMF warns of East Africa's fragile economic conditions.

Dangote Refinery is preparing for Africa’s largest-ever IPO, aiming to raise $5 billion with a $50 billion valuation by listing on multiple African stock exchanges. The refinery, which began operations in 2024, has expanded its capacity and is supported by financial institutions like Standard Bank and the Public Investment Corporation.

ExxonMobil’s gas project is projected to boost Mozambique’s economy by over 4% annually once production begins in four years, with Standard Bank estimating $150 billion in tax revenue over 30 years. The project, alongside TotalEnergies’ $20 billion initiative, aims to position Mozambique as a liquefied natural gas supplier amid global supply disruptions. However, progress depends on stability in northern Mozambique, where an armed insurgency has caused delays.

Africa's millionaire population is growing faster than the Gulf due to rising commodity prices and resilient private enterprise, but wealthy individuals often move capital abroad due to weak financial systems. Morocco led with 16.8% growth in millionaires, while reports highlight African high-net-worth individuals' focus on wealth protection through diversification and offshore investments.

Ultra-Rich Africans are increasing property investments to preserve wealth, according to Standard Bank. South Africa's budget shows improved public finances per Moody’s Ratings, though stronger economic growth is needed for significant debt reduction.