African banking sector shows varied growth and profitability

The African banking sector is showing varied performance across different regions. In Ghana, the 2026 PwC Banking Survey reports that the industry's pre-tax profit rose by nearly 40% to GH¢23 billion in 2025. This growth was driven by higher investment income and improved trading income. Total customer deposits in the country also grew by 25% to GH¢334.3 billion, with GCB Bank, Ecobank Ghana, and Stanbic Bank holding the largest market shares.

In Kenya, Absa Bank Kenya reported a half-year profit after tax of KSh 10.5 billion for the period ending June 30, 2026. The bank saw an 8% growth in customer assets and a 20% increase in income from its subsidiaries.

Other regional highlights include:

• ABHI Bank in Pakistan reported a record half-year profit after tax of PKR 1.502 billion, surpassing its total 2025 profit in just six months.

• Letshego Holdings in Namibia saw a 2% increase in profit after tax to N$253.5 million for the first half of 2026.

• Nkrankwanta Area Community Bank in Ghana reported that its profit after tax increased by 133% to GH¢3.46 million in 2025.

Additionally, Standard Bank Group and UnionPay International have expanded e-commerce payment acceptance across nine African markets, including Botswana, Ghana, and Kenya, to facilitate cross-border trade.