Kenya  

Kenya Freezes Binance Accounts in Money Laundering Purge  

Kenyan Binance account users have become the first casualties of a broader regulatory crackdown on the cryptocurrency sector, driven by concerns around fraud, money laundering, and terrorism financing, with the Government of Kenya now calling for the freezing of certain accounts. Binance has acknowledged the move, noting that such actions may arise in the course of regulatory compliance. This marks the first major enforcement action since the passage of the Virtual Assets Act in Kenya. However, it is not without precedent; similar measures have been taken in jurisdictions such as France and the United States, where Binance accounts have previously been flagged or frozen over suspected links to financing groups such as Hezbollah and Hamas. Some observers argue that this move could strengthen Kenya’s case for removal from international grey lists, signalling a more assertive posture in addressing terrorism financing risks within the cryptocurrency ecosystem.   

(Source: Business Daily)  

Tanzania  

Euromoney Decorates CRDB Bank as the Best Private Banking Services  

Tanzania continues to record steady progress in its financial services sector, supported by strong regulatory oversight from the Bank of Tanzania and the Ministry of Finance. This has been reinforced by CRDB Bank winning the Best Private Banking Services award from Euromoney, a milestone its CEO, Abdul Majid Nsekela, says strengthens investor confidence and Tanzania’s position as a trusted investment destination. He attributed the achievement to supportive government policy and advancements in financial technology that have improved access, efficiency, and security in banking services, further signalling Tanzania’s growing profile as an emerging financial hub in the region.  

(Source: Daily News) 

Uganda  

Museveni Backs Dangote Oil Refinery in Tanzania  

At the Africa Infrastructure Summit, President Museveni signalled support for Aliko Dangote’s pledge to construct a 650,000-barrel-per-day refinery in Tanga, Tanzania, modelled on his Nigerian facility, as part of a broader push to leverage Uganda’s crude oil and strengthen East Africa’s refining capacity while reducing dependence on imported petroleum products. He also reaffirmed Uganda’s separate plan to develop a 60,000-barrel-per-day refinery in Hoima in partnership with UAE-based Alpha MBM Investments. The discussions reflected a wider consensus among leaders at the summit on Africa’s paradox of producing significant volumes of crude oil while remaining heavily reliant on imported refined products, with renewed calls to retain value within the continent through domestic refining and expanded downstream industrialisation, including in fertilisers and plastics.  

(Source: The Independent)  

Rwanda  

Kagame Meets Chinese Investor Eyeing EV Assembly Plant in Rwanda  

President Paul Kagame met with Xu Hui, Chairman of Rich Resource International Investments and Vice President of Chery Holding Group, to explore potential investment opportunities in Rwanda, including the establishment of an electric-vehicle assembly plant. The discussions focused on advancing Rwanda’s industrialisation agenda and accelerating its transition to e-mobility, building on earlier cooperation agreements with the Rwanda Development Board covering sectors such as green energy, agriculture, and mining. The engagement comes as Rwanda steps up efforts to promote electric mobility, including a directive requiring public institutions to procure at least 30 per cent electric vehicles. The talks also reflect China’s continued position as Rwanda’s largest source of foreign direct investment.  

(Source: The New Times)  

Ethiopia  

Reforms Play Decisive Role in Creating Conducive Investment Climate: UNIDO Investment, Responsible Business Head  

A UNIDO official, Stefan Kratzsch, has said Ethiopia’s ongoing economic reforms are helping to create a more predictable and attractive investment climate for both foreign and domestic investors. He noted that the reforms support key development goals, including job creation, value chain development, and export growth, while also leveraging Ethiopia’s large domestic market and regional opportunities within the African Continental Free Trade Area. Kratzsch emphasised the importance of balancing foreign investment with domestic industrial growth through joint ventures and public-private partnerships, alongside stronger governance and inclusive participation of youth and women. He also commended the government’s engagement with investors, saying sustained dialogue will be key to maintaining confidence and positioning Ethiopia as a model for inclusive industrialisation in Africa.  

(Source: ENA)  

Somalia  

President Mohamud Inaugurates New Ministry of Ports Headquarters to Accelerate Maritime Economic Strategy  

President Hassan Sheikh Mohamud has inaugurated the new headquarters of the Ministry of Ports and Marine Transport in Mogadishu, describing it as a practical step in strengthening Somalia’s maritime capacity and expanding its role in regional and global trade. He said the government is prioritising port modernisation and improved connectivity to support economic growth along the coastline. He also highlighted the importance of securing territorial waters and ensuring the sustainable use of marine resources as part of the country’s blue economy agenda.  

(Source: SONNA)