The Banker’s latest rankings show African banks are outperforming global peers in profit and capital growth, despite holding less than 1% of global banking capital. Four Nigerian banks have been named among the continent’s ten fastest-growing by Tier 1 capital, driven by ongoing recapitalization and regional expansion. Meanwhile, central banks across the continent are pivoting back to interest rate hikes to combat rising inflation. In corporate developments, Access Holdings has reduced its stake in its Ghanaian subsidiary by 7.44%, while the Central African banking bloc (BEAC) has joined the Pan-African Payment and Settlement System (PAPSS) to facilitate cheaper cross-border trade.