A financial services holding company in Nigeria, overseeing various banking and financial institutions.
Kenya’s competition regulator clears Zenith Bank’s Paramount acquisition
The Competition Authority of Kenya approved Zenith Bank's acquisition of Paramount Bank, clearing a regulatory hurdle. Zenith Bank must retain all 78 employees of Paramount Bank for at least 12 months post-acquisition.
HabariPay’s cost efficiency powers GTBank’s ₦6.54bn fintech profit
HabariPay reported a profit of ₦6.54 billion, accounting for 82% of total earnings among bank-backed fintechs. Hydrogen's profit decreased by 42.63% year-on-year, posting ₦833 million in profit.
Hydrogen surpasses HabariPay in Q1 profit growth among bank-owned fintechs
Hydrogen recorded a 466% increase in after-tax profit, reaching ₦283 million in Q1 2025. HabariPay's profit growth was 52%, increasing to ₦1.66 billion in the same quarter.
₦76.5 trillion and counting: Inside the payment surge at GTCO and Access Holdings
Nigerians processed a record ₦79.6 trillion ($49.6 billion) through mobile phones in 2024. GTCO's HabariPay and Access' Hydrogen processed a combined ₦76.5 trillion ($47.7 billion) in transactions in 2024, a 217% increase from ₦24.1 trillion in 2023.
Stanbic IBTC will seek shareholders’ approval to raise ₦550bn
Stanbic IBTC Holdings plans to raise ₦550 billion through the sale of bonds and a rights issue. The banking subsidiary of Stanbic IBTC Holdings, a Tier 2 bank with a capital requirement of ₦200 billion, aims to issue debt securities worth ₦400 billion and an additional ₦150 billion through a rights
