Kenya

Digital lenders reduce shaming after controls

Harassment by digital lenders has been reduced by almost 75% courtesy of joint efforts by the Central Bank of Kenya (CBK) and the Digital Financial Services Association of Kenya (DFSAK). The DFSAK Chair reiterated that they are continually engaging the ODPC to ensure their members abide by the ODPC guidelines.

(Business Daily)

Tanzania

TADB, Exim bank partner to boost agri loan

Tanzania Agricultural Development Bank (TADB) has sealed a five-year agreement with Exim Bank to provide guarantees for loans in the agricultural sector worth Tsh30 billion.

The agreement for a five-year guarantee signed in Dar es Salaam yesterday will be provided through TADB’s Smallholder Farmers Credit Guarantee Scheme (SCGS). The pact, valued at Tsh30 billion will enable the Agri-bank to catalyse access to capital for farmers and other value chain actors through Exim Bank, where Exim Bank will extend credit across the agricultural value chain, including livestock and fisheries.

TADB will provide a credit guarantee of up to 70 percent of the loans, especially for youths, women, and climate-smart agriculture projects. Micro, Small, and medium-sized processors (MSMEs), crop-small farmers, livestock, and fisheries will continue to benefit from this partnership with loans from Exim Bank throughout the country.

(Daily News)

Uganda

Uganda breweries gives 8th Pearl of Africa Tourism Expo UgSh100 million boost

Uganda Breweries Limited has announced a partnership with the Uganda Tourism Board (UTB). Through this partnership, a UgSh100 million sponsorship has been committed to the 8th edition of The Pearl of Africa Tourism Expo, which will be held on May 23rd-25th at Speke Resort Conventional Bureau, Munyonyo, under the theme “Responsible Tourism.”

The partnership through the Pilsner Lager and Uganda Waragi Lemon and Ginger was signed during the national organising board meeting which was also held at Speke resort Thursday.

“Our support towards this edition of POATE highlights the pivotal role of collaboration between the private sector and government to promote Uganda’s tourism and hospitality industry. Under this partnership, we will sponsor the Expo with Pilsner Lager and Uganda Waragi Lemon and Ginger, brands that are deeply rooted in Ugandan culture and represent the bold and vibrant spirit of Uganda,” said Andrew Kilonzo, Managing Director, Uganda Breweries Limited.

(Independent)

Rwanda

Time is ripe for Africa’s economic independence – experts

African government leaders should convert their commitments into concrete actions and put their countries on the path to economic development, experts have said. The call was made on Thursday, May 16, as business and political leaders discussed the conditions necessary for reducing Africa’s dependency on the rest of the world at the official opening of the 2024 Africa CEO Forum underway in Kigali.

Hosted under the theme; At the table or on the menu: A critical moment to shape a new future for Africa, the forum, in its 11th edition, attracted over 2,000 participants, including Heads of State, leaders of international organisations, captains of industry, and investors, among others.

(New Times)

Ethiopia

Ethiopia’s minister, Turkish ambassador discuss deepening trade relations

Trade and Regional Integration Minister Gebremeskel Chala and Turkish Ambassador to Ethiopia Berk Baran discussed ways to strengthen trade relations between the two countries.

Trade and Regional Integration Minister Gebremeskel Chala emphasised narrowing the trade gap and the need to increase Ethiopian agricultural exports to Turkey. The Minister also stressed the importance of fostering stronger business-to-business ties between the private sectors of both countries.

As Ethiopia opens its doors wider to foreign investment, the minister extended an invitation to Turkish companies to explore opportunities within the Ethiopian market. He further requested that Turkey share its expertise in trade, economic development, technology, and capacity-building initiatives. Turkish Ambassador to Ethiopia Berk Baran, on his part, acknowledged the longstanding commercial and cultural ties between Ethiopia and Turkey.

(Ena)