Trade and Financial Service Round Up: Issue No. 29 of 2026 

  • 31 Jul 2026
  • 3 Mins Read
  • 〜 by Alfas Mulunda

Kenya 

Government Halts Tata Chemicals Magadi Mining Operations Over Regulatory Breaches 

The Kenyan government has ordered Tata Chemicals Magadi Limited to immediately suspend all mining activities after determining that the company had failed to comply fully with several mining regulations. Mining, Blue Economy and Maritime Affairs Cabinet Secretary Hassan Ali Joho said the government had engaged with the company for several years to help it meet its legal obligations, but several issues remained unresolved. These include unpaid mining royalties, incomplete export reporting, environmental compliance concerns, weak implementation of Community Development Agreements, and inadequate plans to increase local employment and skills transfer. The suspension will remain in force until the company fully complies with all legal requirements. 

(Source: Daily Nation) 

Uganda 

Court Suspends IRA Chief Executive Recruitment Pending Contract Dispute 

A Ugandan court has temporarily halted the Insurance Regulatory Authority’s (IRA) recruitment of a new Chief Executive Officer, allowing former CEO Alhaj Kaddunabbi Ibrahim Lubega to challenge the board’s decision not to renew his contract. The court order pauses the recruitment process until the case is heard and determined. Kaddunabbi argues that the board acted unlawfully, while the proceedings will examine whether the decision complied with the required legal and administrative procedures. The recruitment process will remain on hold until the court delivers its ruling. 

(Source: Monitor) 

Tanzania 

BoT Finalises Framework for Cryptocurrency Regulation 

The Bank of Tanzania (BoT) has completed a regulatory framework that will guide the country’s approach to cryptocurrencies and other virtual assets. The framework is intended to provide the basis for future legislation that balances innovation with financial stability, consumer protection and measures to combat financial crimes such as money laundering and terrorist financing. Although cryptocurrencies are not yet fully regulated in Tanzania, the completion of the framework marks an important step towards establishing a formal legal and regulatory environment for digital assets as their use continues to expand. 

(Source: The Citizen) 

Rwanda 

Trinity Metals Launches Drilling Programme to Expand Nyakabingo Tungsten Resources 

Trinity Metals has launched a new drilling programme at its Nyakabingo mine in Rwanda as part of efforts to expand the site’s known tungsten resources. The programme aims to gather additional geological data, identify new mineral deposits and support future mine planning. Expanding the resource base could extend the mine’s operational life and strengthen production capacity to meet growing global demand for tungsten, a critical mineral used in manufacturing, electronics and other industrial applications. The initiative forms part of the company’s broader strategy to improve resource confidence and support long-term mining operations. 

(Source: The New Times) 

Ethiopia 

Industrial Parks Corporation Generates Nearly Six Billion Birr in Revenue 

The Ethiopian Industrial Parks Development Corporation (IPDC) generated more than 5.8 billion Birr in revenue from services provided to companies operating in the country’s industrial parks. The earnings reflect sustained activity across Ethiopia’s industrial park network, which supports manufacturing, exports and investment. Revenue was generated through services offered to businesses operating within the parks, as the corporation continued to manage and develop industrial zones aimed at promoting industrialisation, job creation and economic growth. The results highlight the growing contribution of industrial parks to Ethiopia’s manufacturing and investment agenda. 

(Source: The Reporter) 

Sudan 

Sudan and South Sudan Hold Talks on Oil Transit and Regional Stability 

Officials from Sudan and South Sudan met in Khartoum to discuss oil transit cooperation and broader regional security issues. The talks focused on maintaining the flow of South Sudan’s oil through Sudan’s pipeline and export infrastructure, which is vital to both countries’ economies. The two sides also explored ways to strengthen bilateral cooperation and address regional stability amid ongoing political and security challenges. The meeting underscores the continued importance of oil transit agreements and dialogue between the neighbouring countries in supporting economic interests and promoting regional peace and stability. 

(Source: Sudan Tribune) 

Somalia 

Somali Ministers Call for Greater Investment in Fisheries 

Somali government ministers have urged local investors to increase investment in the country’s fisheries sector during a forum in Mogadishu. They highlighted the industry’s potential to drive economic growth, create jobs, and strengthen food security, while encouraging greater private-sector participation in fishing, processing, and export activities. The ministers said increased domestic investment would help unlock the sector’s economic potential and support the sustainable use of Somalia’s extensive marine resources as the government works to expand the blue economy. 

(Source: SONNA)