Trade and Financial Services Round-Up

  • 17 Nov 2023
  • 2 Mins Read
  • 〜 by Anne Ndungu


IMF rescues Kenya from $2bn Eurobond scare

The International Monetary Fund (IMF) has moved to rescue Kenya from plunging into a financial crisis after the global lender confirmed that it was mobilising funds to help the country repay its $2 billion Eurobond maturing in June next year.

(The East African)



Ugandan MPs approve Bill giving government oil import monopoly

The Ugandan Parliament on Tuesday passed the Petroleum Supply (Amendment) Act, 2023 granting the Ugandan National Oil Company (UNOC) a monopoly on supplying petroleum products. 

(Daily Monitor)



Economists propose key areas to spur Tanzania’s economic growth

Economists have proposed some critical areas to spur economic growth in the country.  The target areas include human capital development, changing the organisation of production, formalising the currently large informal sector, as well as augmenting labour with innovation and technology to reach larger markets. 

(The Citizen)



Rwanda hosts 4th Africa Cyber Defense Forum

The Africa Cyber Defense Forum (ACDF) 2023 officially kicked off in Kigali on November 15, bringing together the world’s leading security experts, front-line heroes, government leaders, and executives from various industries to address the challenges facing today’s cyber threat landscape.

Taking place at the Kigali Marriott Hotel until November 17, the annual conference also aims to deliver a programme of content that unites the ICT, cyber, and data protection professions across the globe.

(New Times)



Ethiopia: Preparations underway to implement a national payment gateway system

Ethiopia’s National Switch (EthSwitch) is finalising preparations for the nationwide implementation of a payment gateway system across banks and financial institutions.

The payment gateway, a modern digital payment strategy, aims to encourage digital adoption among merchants and financial institutions. EthSwitch, serving as an online interoperable payment system, collaborates with financial institutions to establish a digital domestic payment system, enhancing transactions and enabling secure online payments.




China and Somalia unite to boost science and technology partnership

China has taken a step towards advancing science and technology in Somalia through a collaborative effort under the UNESCO International Institute for Stem Education (IISTEM) initiative. This significant collaboration was announced following the establishment of the IISTEM in Shanghai, China, during the 42nd Session of the UNESCO General Conference in Paris.

(Radio Dalsan)