African banks see revenues surpass 100 billion dollars
African banking revenues hit 107 billion dollars in 2025 with returns on equity at 17 percent. Growth is led by South Africa and four other key markets.
African banking revenues have surpassed the $100 billion mark for the first time, reflecting the sector's increasing economic weight and high profitability compared to global standards. According to a report by McKinsey, revenues across the continent reached approximately $99 billion in 2024 and rose to an estimated $107 billion in 2025. The sector's return on equity stood at 19% in 2024, significantly outperforming the global banking average of roughly 10%.
While the growth is widespread, the revenue remains concentrated within a few major economies. Egypt, Kenya, Morocco, Nigeria, and South Africa collectively generate about 70% of the continent's total banking income. South Africa stands as the largest individual market, contributing $26.4 billion in customer-driven revenues in 2024.
