Summary
- In 2025, African commercial banks saw an average brand value gain of 22%, generating a total of $15.2 billion in new value.
- The Net Interest Income in the African Banking sector is expected to reach US$205.53 billion.
- Kenya leads Africa with 38 registered commercial banks, closely followed by Egypt with 36.
In-Depth Look!
African banking brands are witnessing remarkable growth, reflecting a mix of economic expansion, regulatory changes, and efforts to enhance financial inclusion. At the beginning of the 2000s, various countries within Africa’s banking sectors expressed a commitment to regulatory reforms and boosting economic development. While challenges remain, ongoing initiatives and policy changes are helping to create a more resilient and inclusive financial system across the continent.
The African Banks Outlook 2025 indicates that, although commercial banks on the continent contend with risks from both local and global environments, they are demonstrating a good level of resilience. The report also highlights that lowered interest rates may encourage credit demand, and stable exchange rates could further support confidence and investments.
Currently, commercial banks in Africa are enjoying a 22% increase in average brand value with a new total of $15.2 billion generated. The projected Net Interest Income in the African Banking sector is anticipated to reach US$205.53 billion by year’s end, mainly driven by the activities of Traditional Banks.
This article delves into the top 10 African nations with the highest number of commercial banks, exploring their banking regulations, systems, and economic situations. Check it out!
Top 10 Countries with the Most Commercial Banks in Africa in 2025
10. Ghana – 23 Commercial Banks
The banking sector in Ghana, comprising 23 commercial banks, has undergone significant reforms aimed at improving stability and resilience. The Bank of Ghana (BoG) has enacted measures to enhance corporate governance, risk management, and capital adequacy, striving to cultivate a strong banking environment that fosters economic growth and financial inclusion.
9. Uganda – 24 Commercial Banks
Uganda’s banking landscape consists of 24 commercial banks supervised by the Bank of Uganda (BoU). Notable regulatory changes include updates to the Financial Institutions Act, enabling licensed financial entities to offer Islamic banking products without needing prior approval from the Central Shari’ah Advisory Council. A minimum paid-up capital of UGX 150 billion must be maintained by banks by June 2024 to strengthen the sector’s resilience.
8. Nigeria – 24 Commercial Banks
The 24 commercial banks in Nigeria are regulated by the Central Bank of Nigeria (CBN), which has initiated various reforms to enhance the sector. By 2025, the CBN will require banks to boost their capital by March 2026, with specific requirements based on operational scope. Additionally, the CBN has created a new compliance department and launched the Electronic Foreign Exchange Matching System (EFEMS) to promote transparency in the foreign exchange market.
7. Côte d’Ivoire – Over 30 Commercial Banks
Côte d’Ivoire’s banking system features over 30 commercial banks, making it a key player in the West African Economic and Monetary Union (WAEMU). The sector benefits from a stable macroeconomic landscape and ongoing reforms aiming to advance financial inclusion and digital banking services.
6. South Sudan – Over 30 Commercial Banks
With over 30 commercial banks under its regulation, South Sudan’s banking sector is managed by the Bank of South Sudan (BoSS). In 2023, BoSS unveiled a five-year strategic initiative focused on achieving price stability and creating a solid financial system. This plan prioritizes reducing dependence on imports, promoting digital transactions, and enhancing investor confidence.
5. Sudan – Over 30 Commercial Banks
Sudan’s banking industry, consisting of over 30 commercial banks, operates amid tough economic conditions like high inflation and currency instability. The Central Bank of Sudan supervises the sector, which is gradually implementing reforms aimed at stabilizing the economy and attracting foreign investment.
4. Ethiopia – Over 30 Commercial Banks
Ethiopia’s banking sector, once predominantly managed by the state-owned Commercial Bank of Ethiopia (CBE), is now undergoing significant reforms. In 2024, new legislation was introduced permitting foreign banks to establish local subsidiaries and acquire shares in national banks, with a cap of 40% on foreign ownership. Additionally, there are plans to raise the private sector credit cap by September 2025 to foster a more market-oriented financial system.
3. Tanzania – 34 Commercial Banks
Tanzania’s 34 commercial banks signify a liberalized banking environment that encourages competition and innovation. The Bank of Tanzania (BoT) has facilitated the entry of foreign bank participants, incorporating international best practices into the sector. The introduction of agency banking models has expanded access to financial services in remote areas, improving financial inclusion.
2. Egypt – 36 Commercial Banks
Egypt hosts 36 commercial banks, regulated by the Central Bank of Egypt (CBE). The sector functions under Law No. 194 of 2020, which broadened the CBE’s supervisory framework and established regulations for fintech and electronic payments. In April 2025, the CBE lowered interest rates by 225 basis points, indicating a move towards monetary easing in response to decreasing inflation. Furthermore, Egypt’s $8 billion IMF bailout encompasses reforms to boost private sector engagement and ensure financial stability.
1. Kenya – 38 Commercial Banks
Kenya tops the list with 38 commercial banks, emphasizing its vibrant and competitive banking sector. The Central Bank of Kenya (CBK) supervises a diverse array of local and international banks. The country’s dedication to financial inclusion is evident in initiatives like mobile banking platforms, such as M-Pesa, and agency banking models, which have significantly enhanced access to financial services. In 2025, Kenya secured $600 million in short-term financing from commercial banks to support road construction projects, demonstrating the banking sector’s critical role in infrastructure development.
