The Zimbabwean Dollar dropped 40% against the US Dollar in March 2024

Over the years, the value of the Zimbabwean Dollar (ZWL) has been on a massive downward trend compared to the US Dollar (USD). This has led to the latter accounting for most of the domestic transactions in the Southern African country. The ZWL went from 10,152.5 to USD 1 as of January 1, 2024, to 30,674.3 on April 1, 2024. The Reserve Bank of Zimbabwe is introducing a gold-backed digital currency as a legal tender to stabilise its currency.

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Apr 2023 - Mar 2024
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Internationally authorised Nigerian banks have raised over ₦3.3tn since March 2024
  • Internationally authorised Nigerian banks have raised and injected over ₦3.3 trillion in new capital since March 2024.
  • The recapitalisation exercise is being driven by the Central Bank of Nigeria’s requirements, with the deadline expected in March 2026.
  • Zenith Bank currently has the highest capital among the banks shown, reaching about ₦614 billion.
  • Access Holdings has about ₦602.8 billion in total capital.
  • Fidelity Bank raised the largest single capital injection in the group, about ₦437.85 billion, pushing its total capital to ₦564.5 billion.
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Nigeria's insurance sector crossed ₦1.98tn in H1 2025 as every segment grew by at least 25%
  • Life Business was the single largest segment, and its 70.3% jump signals that more Nigerians are thinking seriously about financial protection for their families.
  • Miscellaneous, the smallest segment, posted the biggest growth at 86.7%, suggesting new and unconventional insurance products are gaining serious traction.
  • Aviation & Marine nearly doubled, with 79.9% growth in a sector tied to trade and logistics, reflecting Nigeria's expanding import/export activity and the rising cost of cargo and aircraft risk coverage.
  • Motor (52.5%), Fire (53.3%), and General Accident (49.6%) grew by roughly half, indicating broad-based sector expansion rather than isolated pockets of growth.
Nigeria had about 135 bank accounts per 100 people in 2025, up from 32 bank accounts in 2017
  • Active bank accounts grew from 65 million in 2016 to over 320 million in 2025 — almost a fivefold increase.
  • Bank accounts per 100 people rose from about 32 in 2017 to nearly 135 in 2025.
  • Nigeria now averages more than one bank account per person.
  • The fastest growth phase occurred between 2019 and 2024.
  • Digital banking and fintech adoption played a major role in the surge.
  • The jump after 2020 suggests technology-driven access, not just population growth.
  • Multiple account ownership is now common among users.
Nigeria saw an increase of 2.9 million deployed POS in 2024, following the naira redesign in 2023
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  • Growth accelerated sharply after 2020, marking a major shift toward cashless transactions.
  • The highest year-on-year growth (116.8%) occurred in 2024, following the naira redesign.
  • About three million terminals were added in 2024 alone.
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  • POS terminals now function as mini-banks in many communities.
  • Financial inclusion has expanded through agent-based banking and POS networks.
Zero Losses: Every Access Holdings’ subsidiary made a profit in H1 2025
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  • Nigeria’s profit eased, but stronger performance across other African markets helped support overall group results.
  • Zambia, Sierra Leone, the DRC, Cameroon, and Kenya showed notable turnarounds from previous low or negative earnings.
  • The UK operation remained a major contributor, reinforcing the benefits of Access Holdings’ diversified regional presence.
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  • FUGAZ posted a combined ₦2.91 trillion in profit from Q1 to Q3 of 2025.
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  • FUGAZ recorded an average year-on-year percentage change of -11.2% for the period
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