Kenya

Diaspora Remittances Increase by KSh15bn in Nine Months

Diaspora remittances into Kenya rose by about KSh 15 billion over the first nine months of 2025, reaching approximately US $3.774 billion (KSh 488.5 billion), up from US $3.658 billion (KSh 472.4 billion) the same period in 2024, reflecting a 3.2 per cent increase. In September alone, Kenyans abroad remitted US $419.6 million (KSh 54.3 billion), adding to the cumulative total for the first eight months of the year. Though remittances remain a key source of foreign exchange and help support Kenya’s balance of payments, the growth rate this year is significantly slower compared with a 17.2 per cent jump during the same period last year. 

(Source: Daily Nation) 

Tanzania

NMB Named Among Africa’s Top 40 Banks

In a landmark recognition of excellence, NMB Bank Plc has been named among Africa’s Top 40 banks in the 2025 African Business Magazine rankings, highlighting its financial strength, operational excellence, and sustainable growth. In a statement on October 23, 2025, the bank said that the achievement solidifies its position as Tanzania’s number one lender and the only local financial institution ranked among the top five in East Africa, underscoring its regional leadership and commitment to innovation and customer-focused banking. The recognition highlights NMB’s robust financial strength, with the ranking based on total capital, total assets, and net profits. According to the bank’s statement, the accolade reflects not only its strong profitability but also its sustained commitment to long-term growth, digital innovation, and inclusive banking practices across Tanzania and the region.

(Source: The Citizen)

Uganda

Absa Bank Uganda Takes Over Standard Chartered Retail

Standard Chartered and Absa Bank Uganda, a wholly owned subsidiary of the Absa Group, have entered into an agreement for the sale of Standard Chartered Uganda’s Wealth and Retail Banking (WRB) business portfolio in Uganda. This follows Standard Chartered’s November 27, 2024, announcement of its intention to explore a potential sale, in line with the bank’s global strategy to concentrate resources where it offers the most distinctive client proposition. Standard Chartered’s Corporate and Investment Banking (CIB) business within Uganda is unaffected. Under the agreement, all Standard Chartered WRB clients and employees will transfer to Absa. The two banks will work closely in the coming months to ensure a seamless transition for all stakeholders.

(Source: The Independent)

Ethiopia

World Bank Operations Chief Commends Ethiopia’s Reform Progress

World Bank Managing Director for Operations Anna Bjerde has praised Ethiopia’s significant achievements under its comprehensive reform agenda, highlighting substantial progress across multiple economic indicators. Ethiopian Finance Minister, Ahmed Shide, met with Bjerde in Washington to discuss deepening strategic partnerships on priority development initiatives, ongoing structural reforms, and innovative financing solutions. During the meeting, Minister Ahmed acknowledged the World Bank’s crucial technical and financial contributions to Ethiopia’s transformation agenda.

(Source: ENA)