Kenya 

Kenyans Retreat From Credit Market On High Loan Costs

More than two-thirds of Kenyans have abandoned plans to take new loans this year, largely due to high borrowing costs, underscoring the slow response of commercial banks to Central Bank Rate (CBR) cuts.

Sixty-eight per cent of Kenyan adults say they have shelved plans to apply for new loans over the next 12 months, up from 66 per cent last year, according to a survey by Credit Reference Bureau TransUnion.

High borrowing costs remain the most frequently cited reason for abandoning loan applications, mentioned by 42 per cent of respondents, up from 41 per cent last year.

(Source: Business Daily) 

 

Uganda

Businesses Register an Increase In Selling Prices

The Purchasing Managers’ Index (PMI) shows that overall input costs rose again in July, driven by higher purchase prices and wage bills. However, despite the increase, private sector businesses continued to report an upturn in business conditions at the start of the third quarter, supported by further expansions in output and new orders. Subsequently, the Stanbic Bank Uganda survey noted that firms raised their output prices to pass on the higher costs to customers.

(Source: Daily Monitor)

Tanzania 

Tanzania’s Economy Shifts Rapidly Towards Cashless Transactions

Tanzania’s economy is rapidly transitioning towards a cashless system, with mobile money, merchant payments, and point-of-sale (POS) transactions recording double-digit growth. In contrast, traditional payment methods such as cheques and ATM cash withdrawals continue to decline. Data from the Bank of Tanzania (BoT) National Payment System Annual Report 2024 shows that the country’s digital payment infrastructure expanded at an unprecedented pace, driven by rising smartphone penetration, progressive regulation, and growing consumer demand for faster, cheaper transactions.

(Source: The Citizen)

Rwanda

Committee Set Up to Oversee BDF Transition

A national oversight committee has been established to supervise and guide the transition process for integrating the Business Development Fund (BDF) into the Development Bank of Rwanda (BRD), the Ministry of Finance and Economic Planning announced in a statement to The New Times. The committee comprises representatives from the National Bank of Rwanda (BNR), the Ministry of Finance and Economic Planning, the Ministry of Trade and Industry, the Business Development Fund, and the Development Bank of Rwanda, among other relevant institutions.

(Source: The New Times)

Ethiopia

Ethiopia Omits Advantageous Goods, Services from AfCTA Implementation Regulation

The Council of Ministers has ratified a regulation outlining the concession of duty tariff rates on goods for trade under the African Continental Free Trade Agreement (AfCFTA). The 419-page regulation, approved last month, appeared in the Negarit Gazette this week, almost six years after Ethiopia ratified the AfCFTA agreement and four years after the African Union operationalised the trade deal in January 2021.

The trade deal applies to nearly 6,000 goods and services, of which 90 per cent (category A) are subject to a zero tariff rate immediately upon implementation. Seven per cent (category B) will see tariffs drop to zero within 10 years, while the remaining three per cent (category C) are exempt from tariff reductions. Countries keep their most competitive goods and services under the three per cent threshold to maintain a market advantage.

(Source: The Reporter) 

 

Somalia

Somalia’s Financial War Against Al-Shabaab: Key Achievements and Strategic Milestones (2022–2025)

Somalia has intensified its fight against Al-Shabaab by making financial disruption a central component of its counterterrorism efforts under President Hassan Sheikh Mohamud. Key reforms include revising the AML/CFT Act, enacting new sanctions laws, and strengthening the Financial Reporting Centre. These measures enabled the first domestic sanctions, freezing of thousands of accounts, and the country’s first terrorist financing convictions in 2024, cutting Al-Shabaab’s revenues by about 30 per cent.

 

Somalia has also advanced its national risk assessment, mandated national IDs for bank accounts, and expanded cooperation with regional and global partners. While progress indicates growing institutional maturity, sustaining these gains will require stronger coordination, consistent enforcement of sanctions, and leveraging technology to address new financial risks.

(Source: Somali National News Agency)

 

Sudan

Sudan Hires U.S. Lobby Firm for $40,000 a Month

The Embassy of Sudan has hired the Washington-based lobbying firm The Vogel Group for $40,000 per month to press the U.S. Congress and the executive branch on humanitarian and foreign policy issues, according to a government filing. The agreement, which began on June 5, 2025, and runs through the end of the year, outlines that the firm will provide “federal executive and legislative branch lobbying and government affairs consulting services”. The contract was signed on July 14 and filed with the U.S. Department of Justice on August 1, under the Foreign Agents Registration Act (FARA). The firm’s work will include “direct engagement” with U.S. officials on “issues related to broader humanitarian and foreign relations policy concerns”.

(Source: Sudan Tribune)