Kenya

As Defaulters Vanish, State Seeks Another Sh5 bn for Hustler Fund

The government is seeking an additional Sh5 billion for the Hustler Fund, even as nearly Sh6 billion in disbursed loans remain unpaid, with millions of borrowers defaulting and disappearing. President William Ruto’s flagship initiative, launched in November 2022, aims to provide affordable credit to low-income earners. So far, Sh65.7 billion has been disbursed, with Sh53.2 billion repaid. Despite the fund’s reach, lawmakers are wary of further allocations. The 2025/26 Budget allocates Sh5.59 billion to the State Department for MSMEs, but just Sh1 billion is set aside for the Hustler Fund, prompting the latest appeal for more funding.

(Daily Nation)

 

Tanzania

Tanzania, Oman in Talks to Enhance Bilateral Ties in Financial Sector

Tanzania is engaged with Oman in talks that aim to strengthen bilateral cooperation in economic development, focusing on the financial sector. The Governor of the Bank of Tanzania talked with the Oman delegation, including the CEO of Nakheel Development Company, about the benefits of both countries’ financial sectors. The delegation from Oman also engaged with the Director General of the National Housing Corporation to discuss joint strategies to boost the housing sector through international partnerships.

(Daily News)

 

Uganda

Uganda Holds Annual Tourism Expo to Boost Arrivals

Uganda’s annual Pearl of Africa Tourism Expo kicked off on 21st May 2025. The Expo influences the region, drawing in worldwide tourism stakeholders, businesses, media and investors. According to the Ministry of Tourism, Wildlife and Antiquities, the event aims to raise about 1.9 billion dollars and inbound tourism revenue per visitor from 1,052 dollars to 1,500 dollars. According to data from the Ministry of Finance, Planning and Economic Development, tourism is one of Uganda’s major foreign exchange earners, contributing about 5% to the country’s gross domestic product.

(The Independent)

Rwanda

Rwanda Company in Talks to Supply Tungsten to US Smelters

Rwandan mining company Trinity Metals is discussing with U.S. smelters to supply tungsten to the American market, potentially. Trinity Metals is the largest tungsten producer in Africa. Rwanda exports significant amounts of tungsten, particularly to Austria, where it is processed for various industrial applications. Rwanda’s mineral export revenues reached $1.7 billion (Rwf2.38 trillion) in 2024, with gold raking in $1.5 billion, according to information shared by Prime Minister Edouard Ngirente. Under the National Strategy for Transformation (NST2), the government targets  $2.2 billion in annual mineral exports by 2029.

(The New Times)

 

Ethiopia

ILO Praises Ethiopia’s Leadership in Advancing Sustainable Employment in Africa

The ILO’s Department of Employment, Development, and Investment Chief praised Ethiopia for successfully hosting the 20th ILO Regional Conference for Labour-Based Practitioners, held under the theme “Resilient Communities and Healthy Environment: The Employment-Intensive Investment Programme (EIIP) Approach.” In a joint statement, participating ministers emphasised the crucial role of employment-intensive investment programs. They reaffirmed their commitment to enhancing skills through technology and building strong partnerships for effective implementation. The ILO official commended Ethiopia’s excellent organisation of the conference, noting that it served as a vital platform for policymakers to shape inclusive employment strategies. She also reiterated the ILO’s continued support for sustainable job creation across Africa.

(Ethiopia News Agency)