Kenya

How ministries spent KSh 27 billion on lavish travel

A new report by the Controller of Budget (COB) has exposed how ministries spent KSh 27 billion on foreign travel despite State House directives on austerity. Examples include KSh 50.6 million for a 63-member delegation from the Ministry of Trade to a Burundi trade fair, KSh 630 million for a State Law Office trip to Zambia, and KSh 1.4 million for a Parliamentary Affairs trip to Turkey.

(Business Daily)

Tanzania 

United States enlists Tanzania in Lobito Corridor Project to tap into nickel mining

The United States is involving Tanzania in the proposed Lobito Corridor Project, aiming to tap into the nickel reserves at Kabanga while countering China’s influence in the region. Washington emphasises Tanzania’s strategic importance in linking the corridor from the Atlantic Ocean to the Indian Ocean, facilitating investment in mineral resources across Angola, the Democratic Republic of Congo (DRC), Zambia, and Tanzania.

(The East African)

Uganda

Ugandan to launch multi-million dollar  road project in greater Kampala metropolitan area

The Ugandan government is set to begin a $594 million US dollars road project in the Greater Kampala Metropolitan Area (GKMA). The five-year program will develop over 140 kilometres of road network aimed at supporting sustainable economic development and improving the quality of life in the region. The project is financed through a World Bank credit facility of $518 million, a $48 million grant, and co-financing of €40 million from Agence Française de Développement (AFD) and the Government of Uganda.

(Daily Monitor)

Rwanda

Kigali: 10 key projects to address housing demands

The government aims to deliver 150,000 new homes annually to meet the projected demand of 5.5 million homes by 2050. With the rising population, Kigali is in particular need of new urban residential apartments. The city alone requires 18,000 affordable housing units annually to meet the housing needs of its residents.

(The New Times)

Ethiopia

Industrial parks generate only USD 1.2 billion in nine years despite heavy Investment

Despite investing heavily in industrial park development, Ethiopia has yet to fully realise its economic potential from these facilities. A high-level consultation between the Industrial Parks Development Corporation (IPDC) and the Ethiopian Investment Commission (EIC) revealed that while over 1.6 billion USD has been poured into 13 industrial parks over the past nine years, their combined revenue has only reached USD 1.2 billion USD.

(2merkato)

Somalia

Somalia and Egypt strengthen bilateral ties in Cairo meeting

Somali Prime Minister Hamza Abdi Barre and Egyptian Prime Minister Mostafa Madbouly met in Cairo to enhance bilateral relations and cooperation. Prime Minister Madbouly reaffirmed Egypt’s commitment to supporting Somalia, highlighting plans to encourage Egyptian investments and export essential goods. Both leaders praised recent efforts to strengthen cooperation, including new direct flights and the reopening of Egypt’s embassy in Mogadishu. 

(Daily News)

DRC

DRC to benefit from $150 million finance deal for copper production

The Democratic Republic of Congo (DRC) is set to gain from a $150 million pre-export finance agreement between Eurasian Resources Group (ERG), the Bank of China, London branch, and Glencore International. The deal supports ERG’s Metalkol project, which reprocesses copper and cobalt tailings in the DRC. The funding will enhance investment in the Kolwezi region, contributing to economic growth and responsible mining practices.

(China Daily)