Ecobank Transnational Inc. (ETI)’s board must reconsider the speed at which the pan-African lender expands after allegations of management fraud and poor governance, South Africa’s Public Investment Corp. said. “One of the key lessons coming out of Ecobank is that the pace at which you grow is very important,” Elias […]

Nigeria’s currency advanced to the strongest level in six weeks as oil companies in Africa’s biggest crude producer sold dollars to the market. The naira is the continent’s best performer today after the Zambian kwacha and Guinea’s franc. Oil producers, including state-owned Nigerian National Petroleum Corp., are the biggest source […]

Ghana’s central bank kept its benchmark interest rate unchanged, while raising the cash reserve requirement for lenders to help curb inflation and bolster the worst-performing African currency this year. The Monetary Policy Committee left the rate at 18 percent, Governor Kofi Wampah told reporters today in the capital, Accra. That […]