Kenya

800,000 get ‘Hustler’ loans outside system

In a report by the Auditor-General, 809,351 Kenyans got access to the Hustler Fund loan despite not being registered, exposing flaws in the operations of the micro-credit scheme targeted at low-income groups.

(Business Daily)

Tanzania

TanTrade: AI to steal show at 48th DITF

Tanzania Trade Development Authority (Tantrade) has said that the latest technologies, such as Artificial Intelligence (AI), will be among the attractions showcased at the 48th edition of the Dar es Salaam International Trade Fair (DITF) exhibition, which will commence at the end of this month.

Tantrade Director-General Latifa Khamis said in Dar es Salaam yesterday that preparations for the trade fair have reached 81 percent and that they are currently finalising registration and allocation of spaces to exhibitors.

“This year’s exhibition will have unique attractions to be showcased, including new technologies like AI,” she said. Ms Khamis said that is an important initiative, as the trade fair also seeks to promote the transfer of technologies through exhibitions.

“The exhibitors from China will be showcasing the AI that will be used to guide and direct visitors to the pavilions, particularly those slated for foreign exhibitors,” she said, adding that AI will help visitors to visit the specific areas they need to get services quickly.

(Daily News)

Uganda

President warns moneylenders on excessive interest rates

President Museveni has warned moneylenders who are charging excessive interest rates despite the country’s inflation rate being at 3%. During the State of the Nation Address (SONA), the President revealed that he had directed the Attorney-General to guide the Minister of Finance on criminalising extortion.

(Monitor)

Rwanda

Inside Rwanda’s proposed multi-billion drone operations hub

Rwanda is looking to set up a drone operations center by 2026, as part of the country’s efforts to provide accessible and flexible workshop spaces to support the development of drone technologies and innovations.

The development, announced five years ago, has recently gained momentum following a Rwf13.4 billion funding commitment by the French Development Agency to the Rwandan government. It will be located in Huye District, Southern Province, in an area currently occupied by Huye Aerodrome.

The New Times understands that Rwanda Airports Company (RAC) has already handed over the area of over 280,000 square meters to the Ministry of ICT and Innovation, which is expected to spearhead the facility’s development.

(The New Times)

Ethiopia

Upon returning from his Asian official visits, Prime Minister Abiy Ahmed met with representatives of a high-level investment delegation from Saudi Arabia, concluding their three-day visit to Ethiopia.

According to the Office of the Prime Minister, discussions focused on investments in agriculture, housing, and tourism, with a special emphasis on local fertilizer production. The high-level delegation, comprising 79 investors, visited following bilateral talks between Prime Minister Abiy and Saudi Crown Prince Mohammed bin Salman in November 2023 during the Saudi-Africa Summit.

The visit is intended to foster trade and investment opportunities, diversify economic relationships and fortify bilateral relations between the two countries.

(ENA)