Trade and Financial Service Round-Up: Issue No. 08 of 2026

  • 13 Mar 2026
  • 3 Mins Read
  • 〜 by Maria. Goretti

Kenya

KRA Lines Up New AI System in Race to Catch Tax Cheats

KRA is set to install new technology that is set to analyse information to identify various sources of information in a bid to crack down on tax cheats. The KRA said the system would also provide advanced visualisation features, including social network analysis, geospatial mapping, timeline charts, and automated dashboards to help investigators interpret complex datasets and identify suspicious patterns. As part of KRA’s broader digital transformation strategy, leveraging artificial intelligence, machine learning, and advanced analytics, the platform will help build detailed taxpayer profiles, identify potential fraud early, and pre-populate tax records to ease compliance. At the same time, Commissioner-General Humphrey Wattanga emphasised that only essential data will be collected, in line with data protection and governance standards.

(Source: Business Daily)

Uganda

Uganda’s Digital Payments Test

Uganda’s financial ecosystem has increasingly shifted toward digital transactions, driven by mobile money platforms such as MTN Uganda and Airtel Uganda, alongside the expansion of agent banking, which has extended formal financial services into rural and informal markets. Despite these gains, cash remains widely used due to network concerns, transaction costs and entrenched habits, particularly among small businesses and informal traders. Efforts to accelerate the transition are guided by the Uganda National e-Payment Strategy 2021–2026 and the National Payment Systems Act 2020 under the oversight of the Bank of Uganda. Still, challenges such as high transaction fees, limited merchant payment penetration and a large informal economy continue to slow the move toward a fully cashless system.

(Source: The Independent)

Tanzania

Why Gov’t Retains Minority Stakes in Strategic Companies

Tanzania retains minority stakes in strategic companies to safeguard national interests, influence key decisions, and benefit from private sector expertise, while promoting growth, jobs, and local economic development. As of June 2025, the government held stakes in 56 firms across key sectors, generating rising dividends and enhancing local skills and leadership. This public-private strategy, overseen through board representation, will be discussed at the Minority Interest Forum (MIF 2026), which aims to strengthen governance, align corporate strategies with Dira 2050, and expand opportunities for citizens, especially youth, to participate in strategic enterprises.

(Source: Daily News)

Rwanda

New Digital Platform to Connect Startups to Investors

The Ministry of ICT & Innovation has launched a national digital platform, Innovate Rwanda, to strengthen the country’s innovation ecosystem by connecting startups with investors and support organisations. Unveiled by the Minister at the Inclusive FinTech Forum 2026, the platform centralises information on funding opportunities, incubators, accelerators, and development partners, helping entrepreneurs navigate the ecosystem from ideation to scaling. It also enables organisations to reduce service duplication and design programmes to address gaps, while allowing investors to identify startups aligned with their sector focus. By improving access to information and fostering collaboration, the platform aims to accelerate startup growth and position Rwanda as a hub for African innovation.

(Source: The New Times)

Ethiopia

Made in Ethiopia Movement Boosts Local Manufacturing, Drives Import Substitution

The Made in Ethiopia movement is boosting domestic manufacturing, reducing reliance on imports, and strengthening the country’s industrial base. The initiative, implemented by the Ministry of Industry, provides policy incentives, technical support, and market access to local manufacturers, improving productivity, output, and competitiveness particularly in textiles, leather, agro-processing, pharmaceuticals, chemicals, and construction materials. Export performance has grown 40 percent over eight months, while manufacturing capacity utilization rose from 46 to 66.3 percent, generating jobs and saving foreign currency. Ahead of the 2018 Ethiopian Calendar Made in Ethiopia expo (May 2–8, 2026), a new website will facilitate registration and information sharing, complemented by a 10-kilometre public run at Meskel Square to promote local products and economic self-reliance.

(Source: ENA)

Sudan

Fuel Reserves Stable Despite Middle East Conflict, Energy Minister Ibrahim

Sudan’s Energy Minister Mutasim Ibrahim said the country has sufficient fuel reserves, 16 days of gasoline, 21 days of diesel, and 17 days of aviation fuel, and recent imports further secure supply. He noted that the Middle East conflict affects fuel prices but not availability, with most imports arriving via the Red, Mediterranean, and Black Seas. Panic buying and long queues in Khartoum and other states, he explained, are driven by anticipated price hikes, not shortages, and assured that supplies are secured through April, with more shipments expected through October.

(Source: Sudan Tribune)

Somalia

Ministry of Petroleum Issues Strategic Directive to Fuel Merchants to Protect Consumers and Stabilise Markets

The Somali Ministry of Petroleum and Mineral Resources, led by Director General Mohamed Hashi Arabey, issued a directive urging fuel distributors and transport operators to consider the economic realities facing the public. The move aims to stabilise the market, protect consumers from price volatility, and ensure equitable access to fuel, while allowing legitimate business operations. The Ministry emphasised that commercial success must not come at the expense of citizens and will closely monitor compliance to maintain fair, transparent pricing and support national economic resilience and recovery.

(Source: SONNA)