KENYA

Banks Partner with Metropol for Women’s Credit Data

Metropol Credit Reference Bureau has partnered with the Kenya Bankers Association (KBA) to enhance the collection, analysis, and application of gendered credit data in Kenya, aiming to increase access to credit for women and women-led businesses. The deal will involve providing gender-specific credit information in Kenya to local banks, thereby advancing the understanding of lending dynamics in the market. According to the two institutions, the lack of sufficient data on women’s creditworthiness in Kenya is among the key reasons they are financially excluded, and many can’t access credit from formal banking institutions.

(Business Daily)

TANZANIA

Bank of Tanzania Cuts Rate to 5.75% to Boost Lending for Farmers, Traders

The Bank of Tanzania (BoT) has reduced its Central Bank Rate (CBR) from 6% to 5.75%, in a move aimed at making borrowing cheaper, especially for farmers and traders, as the country enters its peak harvest season. The decision, announced following a meeting of the BoT’s Monetary Policy Committee (MPC) on July 2, is expected to ease access to credit, stimulate economic activity and support seasonal demand for financing. The CBR, which acts as a benchmark for the cost of borrowing between the BoT and commercial banks, is a key instrument for managing liquidity in the economy.

(The Citizen)

UGANDA

NMG, Equity Bank Seek to Drive Financial Inclusion

Equity Bank Uganda, currently serving 2.3 million customers, is deepening strategic partnerships to support its financial growth and impact. During a courtesy visit to Nation Media Group, the Bank highlighted its focus on key economic sectors, including agriculture, trade, SMEs, retail, manufacturing, and energy, while also extending affordable credit to youth, women, and farmers. Equity Bank’s ongoing financial commitments include a three-year sponsorship of the Top 100 initiative and support for socio-economic development programs, including social protection for refugees. The visit also explored media collaborations to amplify the Bank’s financial inclusion agenda across Uganda and the region.

(Monitor)

RWANDA

World Bank Approves Rwf144 Billion to Finance Kigali’s Public Transport

The World Bank’s Board of Executive Directors has approved a new $100 million (approximately Rwf144 billion) round of financing to Rwanda. The latest financing is aimed at bringing greener and safer mobility solutions to support Kigali’s transition toward an inclusive, accessible, and climate-resilient transport system. The package, which is under the auspices of the International Development Association (IDA), is expected to finance the Rwanda Urban Mobility Improvement (RUMI) Project.

(New Times)

ETHIOPIA

Ethiopia, World Bank Sign USD1 Billion Financing Agreement to Support Economic Reform & Inclusive Growth

The Government of Ethiopia and the World Bank have signed a financing agreement totalling USD 1 billion under the Second Sustainable and Inclusive Growth Development Policy Operation, comprising a grant and a concessional loan. This critical operation reflects the World Bank’s continued commitment to supporting Ethiopia’s bold and far-reaching reform agenda, the Ministry of Finance said in a press release today. The program aims to bolster recent government efforts to ensure financial sector stability, enhance trade competitiveness, strengthen domestic resource mobilisation, promote transparent and effective public sector governance, and provide the sustainability of social services, all of which are integral pillars of Ethiopia’s macroeconomic and structural transformation.

(ENA)

SUDAN

Sudan War Blows Up Half Its GDP

Sudan’s ongoing war has triggered one of the worst economic collapses in modern African history, wiping out nearly half of the country’s GDP. Between 2023 and 2024, the economy contracted by an estimated 43%, driven by widespread destruction, trade disruption, and the collapse of public services. Government revenue fell below 5% of GDP, inflation soared to 170%, and the Sudanese pound lost over half its value, while unemployment reached 47% and extreme poverty now affects 71% of the population. The agricultural sector, crucial for employment and GDP, saw major declines in output, while the banking system has effectively collapsed, with 70% of branches shut down. A thriving shadow economy—dominated by gold smuggling and black-market currency trade—is now fueling the conflict. Although the World Bank has proposed a recovery plan, experts warn that without an immediate ceasefire and systemic reform, economic revival remains out of reach.

(The East African)