<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="386" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/05/3WXXDJX35JJSVKIYTF6JR4RELE.jpeg" alt="" class="wp-image-618701" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/05/3WXXDJX35JJSVKIYTF6JR4RELE.jpeg 640w, https://cms.cnbcafrica.com/wp-content/uploads/2025/05/3WXXDJX35JJSVKIYTF6JR4RELE-300x181.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/05/3WXXDJX35JJSVKIYTF6JR4RELE-149x90.jpeg 149w" sizes="auto, (max-width: 640px) 100vw, 640px" /><figcaption class="wp-element-caption">Residents walk at an open air grocery market in the outskirts Kigali, Rwanda, April 26, 2024. REUTERS/Jean Bizimana/File photo</figcaption></figure>



KIGALI, May 8 (Reuters)&nbsp;&#8211;&nbsp;Rwanda&#8217;s economy is forecast to grow at a slower pace this year than in 2024, while government spending for the 2025/26 fiscal year is expected to rise by about a fifth, Finance Minister Yusuf Murangwa said on Thursday.



Murangwa said the economy is projected to expand 7.1% this year and jump to 7.5% in 2026. The economy is expected to grow 7.4% in 2027 and 7.0% a year later, he told parliament. The economy grew 8.9% in 2024, according to the statistics office.



Murangwa, who is presenting a draft budget for 2025/26 (July-June), did not give a reason for the expected slowdown in growth.



Rwanda&#8217;s economy largely depends on agriculture, tourism and manufacturing.



The government plans to spend 7.03 trillion francs ($5.01 billion) in 2025/26 (July-June), up from 5.82 trillion francs in 2024/25, he said.



A total of 4.11 trillion francs would come from domestic revenues, 2.15 trillion francs from loans and another 585.2 billion francs from external grants, Murangwa said.



He did not give details about the nature of loans the government planned to take.



A final version of the 2025/26 budget will be presented in June.



($1 = 1,403.7600 Rwandan francs)



(Reporting by Philbert Girinema; writing by George Obulutsa, Editing by William Maclean)

3WXXDJX35JJSVKIYTF6JR4RELE

Rwanda economy to grow at slower pace in 2025, finance minister says

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="768" height="576" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/05/48085890627_1aed377e0b_k-820x615-1-768x576-1.jpg" alt="" class="wp-image-618639" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/05/48085890627_1aed377e0b_k-820x615-1-768x576-1.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/05/48085890627_1aed377e0b_k-820x615-1-768x576-1-300x225.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/05/48085890627_1aed377e0b_k-820x615-1-768x576-1-120x90.jpg 120w" sizes="auto, (max-width: 768px) 100vw, 768px" /><figcaption class="wp-element-caption">Photos: via Flickr</figcaption></figure>



BLANTYRE, May 8 (Reuters)&nbsp;&#8211;&nbsp;Malawi&#8217;s central bank kept its key lending rate at 26.0%&nbsp;MWCBIR=ECI, saying it felt its policy stance was tight enough despite fiscal risks and low agricultural output.



The Southern African country has struggled to rein in inflation, which is running at more than 30% in annual terms MWCPIY=ECI and caused protests in major cities this year.



Crippling dollar shortages have limited imports of goods like fuel and fertiliser and led to a thriving black market for foreign currency.



The Reserve Bank of Malawi said this year&#8217;s economic growth forecast had been lowered to 3.2% from 4.0%.



&#8220;This revision reflects weak agricultural performance due to delayed rainfall and prolonged dry spells in some parts of the country,&#8221; the central bank said in a statement.



&#8220;The MPC (Monetary Policy Committee) reaffirmed its earlier position that the current monetary policy stance is sufficiently tight to steer inflation downwards,&#8221; it added.



The bank&#8217;s policy rate has been at 26.0% since February 2024.



(Reporting by Frank Phiri; Writing by Sfundo Parakozov; Editing by Alexander Winning)

48085890627_1aed377e0b_k-820×615-1-768×576

Malawi central bank keeps key rate high to try to curb inflation

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="5000" height="3101" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/05/NQH6BZDNCZM6BNM3TWIGHHT4LE.avif" alt="" class="wp-image-618283"/><figcaption class="wp-element-caption">Kenya&#8217;s Finance Minister John Mbadi gestures during an interview with Reuters where he says Kenya has started talks with IMF for a new program, in Nairobi, Kenya, February 5, 2025. REUTERS/Monicah Mwangi/File Photo</figcaption></figure>



NAIROBI, May 7 (Reuters)&nbsp;&#8211;&nbsp;Kenya&#8217;s government will not impose new taxes or increase existing ones in this year&#8217;s budget proposals, the finance minister said, after deadly protests broke out last year against the government&#8217;s measures to raise revenue.



More than 50 people were killed when the youth-led marches broke out last June, forcing President William Ruto to abandon tax hikes worth 346 billion shillings ($2.68 billion), and causing a delay to funding from the International Monetary Fund.



&#8220;The finance bill doesn&#8217;t have to always adjust tax rates upwards,&#8221; John Mbadi, the finance minister, told a televised meeting late on Tuesday.



&#8220;The finance bill of this year is more on tax administration and trying to seal the loopholes and also make tax collection efficient.&#8221;



The government has sent a finance bill, which is usually the government&#8217;s vehicle for amending laws to maximise revenue collection, to parliament for passage, part of the process towards the 2025/26 (July-June) budget presentation next month.



It has also sent spending proposals that set the total expenditure at about 4 trillion shillings to parliament for debate and approval, including a budget deficit of 4.5% of GDP.



&#8220;There are no new major tax measures,&#8221; Mbadi said, adding that this year&#8217;s finance bill is targeting extra revenue of 25-30 billion shillings.



Critics have complained about a proposal in the tax bill that, if passed by parliament, will allow the tax authority to access financial information belonging to businesses and individuals, helping it to detect any tax evasion.



Mbadi defended the proposal, saying many wealthy people do not pay their fair share of taxes and hide behind the legal provision that bars authorities from accessing certain data.



&#8220;There are so many people out there operating big bank accounts and they cannot pay tax simply because they are protected by these kind of mischievous laws,&#8221; he said.



($1 = 128.9000 Kenyan shillings)



(Reporting by Duncan Miriri; Editing by George Obulutsa and Barbara Lewis)

NQH6BZDNCZM6BNM3TWIGHHT4LE

Kenya’s 2025/26 budget proposals avoid new taxes after last year’s riots

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="530" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/12/XRWAJLZOAVK3DL2J5JMRWBBQ6A-820x530.jpg" alt="" class="wp-image-433145" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/12/XRWAJLZOAVK3DL2J5JMRWBBQ6A-820x530.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/12/XRWAJLZOAVK3DL2J5JMRWBBQ6A-300x194.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/12/XRWAJLZOAVK3DL2J5JMRWBBQ6A-139x90.jpg 139w, https://cms.cnbcafrica.com/wp-content/uploads/2023/12/XRWAJLZOAVK3DL2J5JMRWBBQ6A-768x497.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/12/XRWAJLZOAVK3DL2J5JMRWBBQ6A-1536x994.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/12/XRWAJLZOAVK3DL2J5JMRWBBQ6A.jpg 1920w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A general view shows the Central Bank of Kenya headquarters building along Haile Selassie Avenue in Nairobi, Kenya November 28, 2018. REUTERS/Njeri Mwangi/</figcaption></figure>



NAIROBI, May 6 (Reuters)&nbsp;&#8211;&nbsp;Kenya&#8217;s central bank will hold its next interest rate-setting meeting on June 10, the bank said on its website.



At its last meeting in April, the bank cut its benchmark lending rate by 75 basis points to 10.0%.



(Reporting by George Obulutsa; Editing by Alexander Winning)

XRWAJLZOAVK3DL2J5JMRWBBQ6A

Kenya’s central bank to hold next rate-setting meeting on June 10

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="4893" height="3123" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/05/G5RU4II5WFP75F4POZ2VUFIWME.avif" alt="" class="wp-image-617777"/><figcaption class="wp-element-caption">A general view shows the central business district in downtown Nairobi, Kenya February 18, 2022. REUTERS/Thomas Mukoya/File Photo</figcaption></figure>



NAIROBI, May 6 (Reuters)&nbsp;&#8211;&nbsp;Kenya&#8217;s private sector growth accelerated to a 27-month high in April, driven by robust sales volumes and solid business activity, according to the Stanbic Bank Kenya Purchasing Managers&#8217; Index (PMI) released on Tuesday.



The PMI rose to 52.0 in April, up from 51.7 in March, marking its highest level since January 2023. A reading above 50.0 indicates growth in business activity, while below 50.0 signals contraction.



Strengthening customer demand led to the fastest rise in new orders since February 2022, prompting businesses to expand output and increase purchasing activities.



&#8220;The Kenya PMIs for April reveal a private sector expanding robustly, and at the fastest pace in over two years,&#8221; said Christopher Legilisho, Economist at Stanbic Bank.



Job creation quickened as firms sought to ease workload pressures, with employment growth reaching its strongest level in nearly a year. However, hiring was primarily focused on temporary staff.



Cost pressures picked up amid rising demand, but inflation remained modest compared to historical trends. Input costs rose to a three-month high, driven by supply shortfalls and increased taxation, yet the rate of inflation was below the long-term average.



Despite the positive momentum, business expectations remained among the weakest in the survey&#8217;s history, with only 5% of firms anticipating output growth over the next 12 months.



Legilisho noted, &#8220;Overall, the April PMI implies a steady return to growth at the start of Q2:25. Further, inflationary pressures remained muted. Despite an improvement in future expectations, sentiment remains among the weakest in the survey history.&#8221;



The PMI survey highlighted robust gains in services, agriculture, and construction sectors, contrasting with lower sales in manufacturing and wholesale &amp; retail.



(Reporting by Reuters; Editing by Toby Chopra)

G5RU4II5WFP75F4POZ2VUFIWME

Kenya’s private sector growth hits 27-month high in April, PMI shows

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/42CTWLL6LJPYDHMYIWIJ6ISWHI-1-820x547.jpg" alt="" class="wp-image-510152" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/42CTWLL6LJPYDHMYIWIJ6ISWHI-1-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/42CTWLL6LJPYDHMYIWIJ6ISWHI-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/42CTWLL6LJPYDHMYIWIJ6ISWHI-1-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/42CTWLL6LJPYDHMYIWIJ6ISWHI-1-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/42CTWLL6LJPYDHMYIWIJ6ISWHI-1-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/42CTWLL6LJPYDHMYIWIJ6ISWHI-1.jpg 1920w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">President William Kipchirchir Ruto of Kenya speaks during a plenary session of the Summit on peace in Ukraine, in Stansstad near Lucerne, Switzerland, June 16, 2024. URS FLUEELER/Pool via REUTERS/File Photo</figcaption></figure>



NAIROBI, May 5 (Reuters) &#8211; Kenya&#8217;s President William Ruto fended off a shoe thrown at him during a speech about the cost of living which has been a source of public anger, videos shared on social media showed.



Ruto has been compelled to abandon tax hikes and invite opposition members into cabinet, but discontent remains high in the East African nation.



On Sunday at the rally in Migori county in western Kenya, Ruto blocked the flying footwear with his arm and did not appear to be injured, according to three videos.



&#8220;We have said we are reducing the price of fertilizer, true or false?&#8221; he said as the shoe bounced off him, kicking up a small cloud of dust.



Interior Minister Kipchumba Murkomen said police had arrested three people, The Star newspaper reported.



Then U.S. President George W. Bush famously had a shoe thrown at him by an Iraqi journalist in 2008 in protest at the chaos following the U.S.-led invasion.



(Reporting by Hereward Holland and Humphrey Malalo; Editing by Ammu Kannampilly and Andrew Cawthorne)

42CTWLL6LJPYDHMYIWIJ6ISWHI (1)

Shoe thrown at Kenya’s President Ruto during rally

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="720" height="480" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/05/QNXH2W24F5N4TBKD2Z4CF3FOSU.avif" alt="" class="wp-image-616628"/><figcaption class="wp-element-caption">SpaceX founder and Tesla CEO Elon Musk speaks on a screen during the Mobile World Congress (MWC) in Barcelona, Spain, June 29, 2021. REUTERS/Nacho Doce/ File Photo</figcaption></figure>



KINSHASA, May 2 (Reuters)&nbsp;&#8211;&nbsp;Democratic Republic of Congo said on Friday it had become the latest African country to grant a licence to tech billionaire Elon Musk&#8217;s Starlink and that the company would begin operations soon.



A unit of SpaceX, the satellite internet provider is rapidly expanding its services on the continent and is live in more than a dozen countries. It was granted licences by Somalia and Lesotho in April.



War-torn Congo has low connectivity, with just around 30% of the population using the internet as of 2023, according to the International Telecommunication Union.



The government had previously resisted allowing access to Starlink, with military officials warning it could be used by rebel groups including Rwandan-backed M23, which has seized more territory than ever before in the east of the country this year.



In March 2024, the Congolese Post and Telecommunications Regulatory Authority said use of Starlink was banned and violators would face sanctions.



The same entity announced on Friday that the company had been given a licence and &#8220;will proceed with the launch of its services in the coming days.&#8221;



An official at the authority did not immediately respond to a request for comment.



Starlink is also trying to establish a presence in neighbouring Uganda. Ugandan President Yoweri Museveni said on Tuesday that he had a productive meeting with Starlink representatives.



(Reporting by Congo newsroom; Writing by Robbie Corey-Boulet; Editing by Daniel Wallis)

QNXH2W24F5N4TBKD2Z4CF3FOSU

Congo grants licence to Starlink, reversing earlier ban

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="421" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/05/4OV4T4LXMJKKRFBV7SP6UEX2LE.avif" alt="" class="wp-image-616237"/><figcaption class="wp-element-caption">Members of the M23 rebel group mount their vehicles after the opening ceremony of Caisse Generale d&#8217;epargne du Congo in Goma, North Kivu province in the East of the Democratic Republic of Congo, April 7, 2025. REUTERS/Arlette Bashizi/File Photo</figcaption></figure>



DOHA, May 1 (Reuters)&nbsp;&#8211;&nbsp;The U.S. is pushing Congo and Rwanda to sign a peace accord at the White House in about two months, accompanied by bilateral mineral deals that would bring billions of dollars of Western investment to the region, President Donald Trump&#8217;s senior advisor for Africa told Reuters on Thursday.



&#8220;When we sign the peace agreement &#8230; the minerals deal with the DRC (Democratic Republic of Congo) will be signed on that day, and then a similar package, but of a different size, will be signed on that day with Rwanda,&#8221; Massad Boulos said in an interview in the Qatari capital, Doha.



A U.S.-backed peace accord would come amid an unprecedented advance by Rwandan-backed M23 rebels in Congo, the latest cycle of violence in a decades-long conflict, in a region rich in minerals including tantalum and gold. Rwanda denies backing the group.



Rwanda and Congo are expected to submit separate drafts of a peace agreement on Friday, according to a peace process agreed in Washington last week as part of diplomatic efforts to end violence in eastern Congo.



The Congolese government did not immediately respond to Reuters&#8217; request for comment.



In mid-May U.S. Secretary of State Marco Rubio will meet in Washington with the Rwandan and Congolese foreign ministers in an effort to agree on a final draft peace accord, Boulos said.



But before that accord can be signed, Boulos said, Rwanda and Congo must finalise bilateral economic agreements with Washington that will see U.S. and Western companies invest billions of dollars in Congolese mines and infrastructure projects to support mining in both countries including the processing of minerals in Rwanda.



&#8220;The (agreement) with the D.R.C. is at a much bigger scale, because it&#8217;s a much bigger country and it has much more resources, but Rwanda also has a lot of resources and capacities and potential in the area of mining as well &#8230; not just the upstream, but also midstream and downstream to processing and refining and trading,&#8221; Boulos said.



Boulos said U.S. and Western companies have told Washington they would make multi-billon dollar investments in the region once the bilateral minerals deals are signed.



Boulos also said before the White House signing ceremony can go ahead, Washington expects both countries to address a number of security concerns. For example, Rwanda must pull its troops out of Congo and end its support for M23 rebels. Congo must address Rwanda&#8217;s security concerns with militias such as the Democratic Forces for the Liberation of Rwanda (FDLR).



Boulos said that on Wednesday a follow-up committee was appointed to monitor both countries&#8217; progress towards the peace deal, which includes the U.S., Qatar, France and Togo, which is representing the African Union.



(Reporting by Andrew Mills; Editing by Robbie Corey-Boulet and Peter Graff and Sandra Maler)

4OV4T4LXMJKKRFBV7SP6UEX2LE

EXCLUSIVE-US pushes Congo, Rwanda for peace accord and billion-dollar mineral deals

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="427" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/05/ET33OHMM6JPKRFYNSMV634XUYQ.avif" alt="" class="wp-image-616231"/><figcaption class="wp-element-caption">Coffee beans are seen in this illustration taken December 17, 2024. REUTERS/Dado Ruvic/Illustration/File Photo</figcaption></figure>



KAMPALA, May 2 (Reuters)&nbsp;&#8211;&nbsp;Uganda&#8217;s coffee exports nearly doubled in March from the same month last year, according to a report by the agriculture ministry, boosted by a good harvest.



The East African country shipped a total of 642,981 60-kilogram bags of the beans in March, over 90% more than in the same month last year, the report showed.



Uganda, which primarily cultivates the robusta variety, is Africa&#8217;s largest exporter of coffee, followed by Ethiopia.



In value terms, the shipments in March earned $198.6 million, more than 200% higher than in March 2024.



The ministry attributed the steep surge in volumes exported and earnings to a good crop and favourable global prices.



Uganda&#8217;s exports of coffee have been rising sharply in recent months, mostly due to high global prices and newly-planted trees that are maturing.



The country earned $1.8 billion from the shipments in the 12 months to March, up from about $1 billion in the previous 12-month period.



(Reporting by Elias Biryabarema; Editing by Alexander Winning and Mark Potter)

ET33OHMM6JPKRFYNSMV634XUYQ

Ugandan coffee shipments nearly doubled in March, agriculture ministry says

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="419" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/N4FGFWTT7RIZRCJBSK4K5GA5P4.avif" alt="" class="wp-image-615454"/><figcaption class="wp-element-caption">Traffic flows under the surveillance closed-circuit television camera (CCTV) system along Hoima road in Kampala, Uganda August 14, 2019. REUTERS/James Akrena/File Photo</figcaption></figure>



KAMPALA, April 30 (Reuters)&nbsp;&#8211;&nbsp;Uganda&#8217;s proposed budget for the 2025/2026 financial year has grown 25% to 71.9 trillion shillings ($19.6 billion), compared to the previous projection of 57.4 trillion shillings given in September, the finance ministry said.



The ministry did not provide a reason for the raise in a statement posted on X on Tuesday. The government has previously said spending priorities in the financial year starting July would be in agro-industrialisation, tourism and minerals including petroleum.



Parliament is currently scrutinising the proposed budget and, once approved, final spending plans will be outlined in a budget speech in June.



The planned spending for the financial year is slightly lower than 72.1 trillion shillings for the current financial year which ends in June.



($1 = 3,660.0000 Ugandan shillings)



(Reporting by Elias Biryabarema; Editing by Hereward Holland and Christopher Cushing)

N4FGFWTT7RIZRCJBSK4K5GA5P4

Uganda’s 2025/26 budget up 25% from previous projection

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="427" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/JT5FON3TKNLAVIU755DNGWMJVE.avif" alt="" class="wp-image-615451"/><figcaption class="wp-element-caption">A fruit vendor stands in his shop at a market place in Nairobi, Kenya December 3, 2018. REUTERS/Ahmed Jadallah/File Photo</figcaption></figure>



NAIROBI, April 30 (Reuters)&nbsp;&#8211;&nbsp;Kenya&#8217;s inflation rate&nbsp;KECPI=ECI&nbsp;in April rose to 4.1% year-on-year, up from 3.6% a month before, the statistics office said on Wednesday.



On a monthly basis, inflation was at 0.3% in April, the Kenya National Bureau of Statistics said in a statement.



Kenya&#8217;s inflation rate has risen steadily since a low of 2.7% in October, but remains well within the central bank&#8217;s 2.5% to 7.5% target range.



Earlier this month Kenya&#8217;s central bank cut its policy interest rate for the fifth meeting in a row to KECBIR=ECI 10.0%, a surprise move aimed at further stimulating private sector lending.



(Reporting by Hereward Holland; Editing by Christian Schmollinger and Christopher Cushing)

JT5FON3TKNLAVIU755DNGWMJVE

Kenya inflation rate rises to 4.1% in April

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="615" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/7556639200_1b374f684f_b-820x615.jpg" alt="" class="wp-image-615118" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/7556639200_1b374f684f_b-820x615.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/7556639200_1b374f684f_b-300x225.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/7556639200_1b374f684f_b-120x90.jpg 120w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/7556639200_1b374f684f_b-768x576.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/7556639200_1b374f684f_b.jpg 1024w" sizes="auto, (max-width: 820px) 100vw, 820px" /></figure>



April 29 (Reuters)&nbsp;&#8211;&nbsp;The Uganda shilling&nbsp;UGX=&nbsp;strengthened slightly on Tuesday, bolstered by month-end inflows of hard currency from charities, according to traders.



As of 0801 GMT, commercial banks quoted the shilling at 3,660/3,670, an improvement from Monday&#8217;s close of 3,665/3,675.

7556639200_1b374f684f_b

Uganda shilling strengthens due to month-end charity inflows

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="461" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/kenya-kitale-september-9-2023-parked-motorcycles-along-road-and-groups-of-african-men-SBI-349544181-820x461.jpg" alt="" class="wp-image-615115" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/kenya-kitale-september-9-2023-parked-motorcycles-along-road-and-groups-of-african-men-SBI-349544181-820x461.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/kenya-kitale-september-9-2023-parked-motorcycles-along-road-and-groups-of-african-men-SBI-349544181-300x169.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/kenya-kitale-september-9-2023-parked-motorcycles-along-road-and-groups-of-african-men-SBI-349544181-160x90.jpg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/kenya-kitale-september-9-2023-parked-motorcycles-along-road-and-groups-of-african-men-SBI-349544181-768x432.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/kenya-kitale-september-9-2023-parked-motorcycles-along-road-and-groups-of-african-men-SBI-349544181-1536x864.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/kenya-kitale-september-9-2023-parked-motorcycles-along-road-and-groups-of-african-men-SBI-349544181-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /></figure>



April 29 (Reuters)&nbsp;&#8211;&nbsp;The Kenyan Shilling&nbsp;KES=&nbsp;was steady against the dollar in early trade on Tuesday with traders noting minimal activity on both the demand and supply sides.



As of 0745 GMT, commercial banks quoted the shilling at 129.00/129.50, unchanged from Monday&#8217;s closing rate.

kenya-kitale-september-9-2023-parked-motorcycles-along-road-and-groups-of-african-men–SBI-349544181

Kenyan shilling steady amid scant activity

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="720" height="474" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/INJ7YSACHNMCJGVADGR3LX4GQA.avif" alt="" class="wp-image-613563"/><figcaption class="wp-element-caption">Members of the M23 rebel group mount their vehicles after the opening ceremony of Caisse Generale d&#8217;epargne du Congo (CADECO) which will serve as the bank for the city of Goma where all banks have closed since the city was taken by the M23 rebels, in Goma, North Kivu province in the East of the Democratic Republic of Congo, April 7, 2025. REUTERS/Arlette Bashizi/File Photo</figcaption></figure>



April 25 (Reuters)&nbsp;&#8211;&nbsp;Congo and Rwanda plan to sign an agreement in Washington on Friday to promote peace and economic development, sources told Reuters, part of a diplomatic push to end violence after an advance by Rwandan-backed rebels in eastern Congo.



The agreement, expected to be signed by the two countries&#8217; foreign ministers at a ceremony with U.S. Secretary of State Marco Rubio, comes as Washington is in talks to invest billions of dollars in mineral-rich Congo. Rwanda said this week it was also speaking to Washington about a possible minerals deal.



Congo has seen a surge in violence after Rwandan-backed M23 rebels launched a major offensive in January that led to the capture of the two largest cities in the east.



The United Nations and Western governments say Rwanda has provided arms and troops to M23. Rwanda denies backing M23 and says its military has acted in self-defence against Congo&#8217;s army and a militia founded by perpetrators of the 1994 genocide.



Both Qatar and the U.S. have shown an interest in mediating a resolution. The Gulf state has long positioned itself as a peacemaker, while Washington is interested in accessing a greater share of Congo&#8217;s mineral wealth.



A diplomatic source said the agreement to be signed on Friday aims to foster a &#8220;pathway to peace, stability, and integrated economic development&#8221; in eastern Congo and &#8220;the resumption of normal bilateral relations&#8221;.



Another source briefed on the agreement said it was intended to build investor confidence.



The Trump administration has taken a special interest in Congo since a Congolese senator contacted U.S. officials to pitch a minerals-for-security deal this year.



Washington wants greater access to minerals like copper, cobalt and lithium, which are used in mobile phones and electric cars, and are currently exploited predominantly by China and its mining companies.



(Reporting by Sonia Rolley and Jessica Donati; Editing by Robbie Corey-Boulet, Alison Williams, Alexandra Hudson)

INJ7YSACHNMCJGVADGR3LX4GQA

Congo and Rwanda to sign agreement in US on peace, economic development, sources say

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="615" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/GettyImages-2191254056-820x615.jpg" alt="" class="wp-image-613204" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/GettyImages-2191254056-820x615.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/GettyImages-2191254056-300x225.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/GettyImages-2191254056-120x90.jpg 120w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/GettyImages-2191254056-768x576.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/GettyImages-2191254056-1536x1152.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/GettyImages-2191254056-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">ZANZIBAR, TANZANIA &#8211; DECEMBER 14: A view of the Rock Restaurant, located on famous Paje Beach in Zanzibar, Tanzania, stands out for its unique location and atmosphere on December 14, 2024. Built on a rock in the middle of the Indian Ocean, this iconic restaurant offers its visitors an unforgettable experience with a landscape that changes with the tides. Known for its seafood menu and natural beauty, the restaurant is not only a popular dining spot but also one of Zanzibar&#8217;s landmarks, attracting both local and international tourists. (Photo by Mehmet Aslan/Anadolu via Getty Images)</figcaption></figure>



DAR ES SALAAM, April 24 (Reuters)&nbsp;&#8211;&nbsp;Tanzania has banned the importation of agricultural products from Malawi and South Africa, saying it was retaliation for similar hostile trade measures from both countries.



The three countries all belong to a regional economic bloc, the Southern African Development Community, SADC.



Tanzania had demanded that both countries rescind bans on imports of agricultural goods from Tanzania by Wednesday, but they had not done so, agriculture minister Hussein Bashe said in a video posted on his X account late on Wednesday.



Malawi had recently banned imports of Tanzanian commodities like maize flour, rice, ginger, and bananas, among others, while South Africa has also proscribed the import of bananas shipped by Dar es Salaam.



&#8220;I would like to officially announce that from this night&#8230; we won&#8217;t allow any agricultural products from South Africa in our country,&#8221; Bashe said, adding a similar ban was being imposed on Malawi.



Talks to resolve the trade impasse, however, would continue with both countries, he said.



He said Tanzania will start prohibiting the transit of agricultural goods from other countries through its territory to land-locked Malawi, and will also ban the export of Tanzanian fertilizer to Malawi.



&#8220;We are taking this measure to protect our business. This is business, and we should all respect each other,&#8221; Bashe said.



(Reporting by Nuzulack Dausen; Writing by Elias Biryabarema; Editing by William Maclean)

The Rock Restaurant on Zanzibar’s Paje Beach

Tanzania bans agriculture imports from South Africa, Malawi

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1080" height="720" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/HZRODE5UBVK35L6PSBZDHSBEBI.avif" alt="" class="wp-image-613079"/><figcaption class="wp-element-caption">Chinese President Xi Jinping and Kenyan President William Ruto attend a welcome ceremony at The Great Hall of The People on April 24, 2025 in Beijing, China. IORI SAGISAWA/Pool via REUTERS</figcaption></figure>



BEIJING, April 24 (Reuters)&nbsp;&#8211;&nbsp;China and Kenya announced they had upgraded ties to a &#8220;new level&#8221; on Thursday during a meeting between President Xi Jinping and Kenyan President William Ruto in Beijing, as they both pledged to create an &#8220;all weather&#8221; China-Africa community.



In a joint China-Kenya statement, both leaders said they were &#8220;committed to injecting more stability into the world with the certainty of China-Africa solidarity and cooperation&#8221;.



This would provide a backbone to safeguard the &#8220;common interests of developing countries&#8221;, it said, and defend the multilateral system, via &#8220;inclusive economic globalisation&#8221;.



The decision to upgrade China-Kenya relations was made &#8220;in the face of a turbulent international situation&#8221;, the Chinese president was quoted as saying in a separate media pool report.



Africa is a key focus of Xi&#8217;s ambitious Belt and Road Initiative, launched in 2013 to extend China&#8217;s geopolitical and economic influence through global infrastructure development.



Kenya has been a key BRI recipient, and Nairobi has taken a slew of loans from China to finance infrastructure construction projects that have made China the east African nation&#8217;s biggest bilateral lender.



Among the projects, China is helping fund the development of a modern railway line from the port of Mombasa into the hinterland.



Xi and Ruto signed 20 documents together on Thursday, according to a media pool report. These included agreements on science and technology cooperation, vocational education, water resources, ecommerce, intelligent transport systems and the railway sector.



Kenyan officials have been engaging with their Chinese counterparts to secure funds for more projects, including the extension of a railway line to the border with Uganda.



The country has been struggling with a heavy debt load and the accompanying cost of servicing it.



Ruto, who took office in September 2022, has promised that his government will not default on its external debt, pledging to cut waste and boost revenue to tackle the challenge.



It is Ruto&#8217;s first state visit to China as president of Kenya.



<h2 class="wp-block-heading" id="h-increased-cooperation">INCREASED COOPERATION</h2>



Ruto and Xi&#8217;s joint statement said both countries would continue to uphold the World Trade Organisation&#8217;s values and basic principles and &#8220;resolutely oppose new hegemonic tactics such as illegal unilateral sanctions, &#8216;decoupling and chain breaking&#8217;, tariff barriers and technological blockades&#8221;.



The two sides said they would deepen peace and security exchanges by strengthening cooperation in personnel training, the military industry, counter-terrorism, joint exercises and training.



Chinese companies can cooperate with Kenya in building a local medical and health industry according to Kenya&#8217;s needs, the statement said.



Both sides are also willing to rely on major projects such as the Mombasa-Nairobi railway to enhance infrastructure construction and connectivity within Africa.



The opening of direct flights between Beijing and Nairobi was also being &#8220;actively explored&#8221; it said.



(Reporting by Farah Master in Hong Kong, Liz Lee and Beijing newsroom; Editing by Himani Sarkar, Kate Mayberry and Michael Perry)

HZRODE5UBVK35L6PSBZDHSBEBI

China, Kenya upgrade ties amid ‘turbulent international situation’

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="5000" height="3483" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/XFBSMRNLQVND3AANHME4FQBHPQ.avif" alt="" class="wp-image-612391"/><figcaption class="wp-element-caption">A severely malnourished child drinks from a bottle, at a camp for internally displaced people in Afdera town, Afar region, Ethiopia, February 23, 2022. REUTERS/Tiksa Negeri/File Photo</figcaption></figure>



GENEVA, April 22 (Reuters)&nbsp;&#8211;&nbsp;The World Food Programme suspended malnutrition treatment for 650,000 malnourished women and children in Ethiopia this week due to severe funding shortages, the U.N. agency said, with millions more at risk of losing access to aid.



WFP gets financing from 15-20 donors including the United States but many of them have cut funding this year, said Zlatan Milisic, WFP Country Director in Ethiopia. The agency has received exemptions from U.S. President Donald Trump&#8217;s aid freeze that has disrupted humanitarian work around the world, he added, but little for 2025 so far.



More than 10 million people in Ethiopia are gravely short of food, including 3 million displaced by conflict and extreme weather conditions as well as refugees from war-torn neighbouring Sudan, according to WFP.



Milisic said WFP had already reduced rations in recent months but that its operations were now at &#8220;breaking point&#8221; due to severe underfunding, forcing more drastic measures.



&#8220;We&#8217;ve been left no choice but to this week suspend treatment for 650,000 malnourished women and children — simply because we&#8217;ve run out of commodities and funding,&#8221; he told a Geneva press briefing by video from Addis Ababa.



A&nbsp;WFP&nbsp;spokesperson later added that those cut off were in various locations including the northern regions of Tigray and Afar, and that the U.N. agency is actively seeking funding to purchase more supplies to resume treatments.



Around 3.6 million people could lose access to assistance, including some being treated for malnutrition, if more funding is not received by June, Milisic added.



&#8220;I would hope that we will get the resources and put in place measures to really do our best to assist them. But if they don&#8217;t receive assistance, we will have serious consequences.&#8221;



Ethiopia&#8217;s food crisis has worsened in recent years as a result of a 2020-22 civil war in Tigray. The country also faced the Horn of Africa&#8217;s worst drought in decades in 2022.



WFP previously warned of a return of drought conditions to the region this year.



(Reporting by Emma Farge; editing by Mark Heinrich)

East Africa

Rwanda economy to grow at slower pace in 2025, finance minister says

Malawi central bank keeps key rate high to try to curb inflation

Kenya’s 2025/26 budget proposals avoid new taxes after last year’s riots

Kenya’s central bank to hold next rate-setting meeting on June 10

Kenya’s private sector growth hits 27-month high in April, PMI shows

Shoe thrown at Kenya’s President Ruto during rally

Congo grants licence to Starlink, reversing earlier ban

EXCLUSIVE-US pushes Congo, Rwanda for peace accord and billion-dollar mineral deals

Ugandan coffee shipments nearly doubled in March, agriculture ministry says

Uganda’s 2025/26 budget up 25% from previous projection

Kenya inflation rate rises to 4.1% in April

Uganda shilling strengthens due to month-end charity inflows

Kenyan shilling steady amid scant activity

Congo and Rwanda to sign agreement in US on peace, economic development, sources say

Tanzania bans agriculture imports from South Africa, Malawi

China, Kenya upgrade ties amid ‘turbulent international situation’

Malnutrition treatments halted in Ethiopia due to underfunding, WFP says

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East Africa

Rwanda economy to grow at slower pace in 2025, finance minister says

Malawi central bank keeps key rate high to try to curb inflation

Kenya’s 2025/26 budget proposals avoid new taxes after last year’s riots

Kenya’s central bank to hold next rate-setting meeting on June 10

Kenya’s private sector growth hits 27-month high in April, PMI shows

Shoe thrown at Kenya’s President Ruto during rally

Congo grants licence to Starlink, reversing earlier ban

EXCLUSIVE-US pushes Congo, Rwanda for peace accord and billion-dollar mineral deals

Ugandan coffee shipments nearly doubled in March, agriculture ministry says

Uganda’s 2025/26 budget up 25% from previous projection

Kenya inflation rate rises to 4.1% in April

Uganda shilling strengthens due to month-end charity inflows

Kenyan shilling steady amid scant activity

Congo and Rwanda to sign agreement in US on peace, economic development, sources say

Tanzania bans agriculture imports from South Africa, Malawi

China, Kenya upgrade ties amid ‘turbulent international situation’

Malnutrition treatments halted in Ethiopia due to underfunding, WFP says

News Tips

Advertise With Us

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