Kenya

World Bank Freezes KSh 96.9Bn to Kenya on Reform Delays

 The World Bank has withheld the disbursement of a KSh 96.93 billion (USD 750 million) loan to Kenya over delays in implementing agreed-upon reforms, including the passage of the Conflict of Interest Bill, which involves politicians and public officials. The lending, which was expected this month after an initial delay, was to be issued through a Development Policy Operations (DPO) loan, which commits Kenya to instituting reforms aimed at creating fiscal space and improving governance. Besides the Conflict of Interest Bill, Kenya was expected to establish a single bank account for public finances and automate government tenders to eliminate collusion in awarding and fixing contracts.

(Source: Business Daily) 

 

Uganda

Google Nabbed by Uganda’s Data Protection Law

Four Ugandans – Frank Ssekamwa, Leni Sharon Pamela, Raymos Amumpaire, and Mercy Awino – filed a complaint against Google, accusing it of violating the Data Protection and Privacy Act. The complaint cites Sections 19 (consent) and 29 (access and correction) for allegedly harvesting data from Ugandans without following due legal process. The Personal Data Protection Office (PDPO) Director, Baker Birikujja, found that Google’s cross-border data transfers violated Uganda’s data laws and ordered the company to register in Uganda and disclose a data protection officer. Google must also submit proof of compliance for international data transfers.

(Source: Daily Monitor)

 

Tanzania

Forgery and Counterfeiting are the Leading Financial Crimes in Tanzania

Forgery has become the most prevalent financial crime in Tanzania, accounting for over 75 per cent of all recorded financial offences in 2023, according to the 2024 Crimes and Traffic Incidents Statistics Report released by the National Bureau of Statistics (NBS). Authorities recorded 693 cases of forgery out of 924 total financial crimes. This included a 32.4 per cent surge in counterfeiting of banknotes, with cases rising from 105 in 2023 to 139 in 2024. The trend is particularly high in areas with large volumes of economic and digital transactions. Kinondoni District in Dar es Salaam recorded the highest number of forgery cases (137), followed by Ilala (122), Temeke (61), and Arusha (49).

(Source: The Citizen) 

 

Rwanda

Govt to Expropriate Residents from Four Industrial Parks

The government is set to inject Rwf10 billion into four strategically prioritised industrial parks during the current fiscal year (2025-2026), to facilitate expropriation of affected residents and lay the foundation for essential infrastructure. The parks are located in Musanze, Rwamagana, Muhanga, and Bugesera districts.

Antoine-Marie Kajangwe, the Permanent Secretary at the Ministry of Trade and Industry (MINICOM), disclosed on July 15, while appearing before the Public Accounts Committee (PAC) to respond to concerns raised in the Auditor General’s report for the financial year ending June 30, 2024.

(Source: The New Times)

 

Ethiopia

AfDB Spotlights Startling Scale of Illicit Financial Flows in Ethiopia

Ethiopia is losing up to 2.2 per cent of its annual GDP growth and between 10 and 30 per cent of government revenue to illicit financial flows (IFF), according to data highlighted in the African Development Bank’s (AfDB) 2025 Country Focus Report on Ethiopia. The staggering figures pose a major obstacle to economic stability and resource mobilisation in a country already struggling with foreign exchange shortages, debt stress, tax collection, and conflict-induced development setbacks. The AfDB report identifies trade mis-invoicing, particularly import over-invoicing and export under-invoicing, as the dominant channels of IFF, accounting for 55 to 80 per cent of the total illicit outflows from Ethiopia.

(Source: The Reporter) 

 

Sudan

Sudan Currency Collapse Fuels Soaring Prices, Deepening Hunger

The Sudanese pound has collapsed to a record low against the U.S. dollar, traders said on Wednesday, fuelling soaring prices for basic goods and deepening a hunger crisis across the war-torn nation. The currency’s rapid depreciation adds a severe burden to millions of families whose livelihoods have been devastated by the ongoing conflict, pushing their ability to cope to the breaking point. On the parallel market, the dollar was trading at 3,345 pounds, up from 2,600 at the start of July, according to dealers. The UAE dirham fetched 930 pounds and the Saudi riyal 860 pounds. The official bank rate also fell, with the dollar listed at 2,400 pounds.

(Source: Sudan Tribune) 

 

Somalia

Central Bank Governor Eyes Growth, Inflation & Shilling Return

Somalia’s Central Bank Governor, Abdirahman Mohamed Abdullahi, stated in a CNBC Africa interview that the country is targeting 4 per cent economic growth while maintaining inflation at 5.6 per cent in a largely dollarized economy. Due to the absence of conventional monetary policy tools, the Central Bank relies on macroprudential measures to ensure financial stability. A reintroduction of the Somali shilling through a currency board system is underway, with support from the IMF. Ongoing reforms, including a revised AML/CFT law and mobile money initiatives, aim to restore correspondent banking relationships. An upcoming financial inclusion survey will guide the development of a national strategy, with a focus on youth, women, and SMEs.

(Source: CNBC Africa)