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issue 635 | 29 Mar 2026

Africa

AfDB’s SEFA approves USD5.65-million to pioneer new climate finance instrument for off-grid renewable energy projects in Africa’s fragile states

The African Development Bank (AfDB) Group’s Board of Directors has approved a USD5.65-million reimbursable grant from the Sustainable Energy Fund for Africa (SEFA) to pilot the Peace Renewable Energy Certificate (P-REC) Aggregation Facility, a pioneering initiative that will, for the first time, deploy renewable energy certificates as a direct funding instrument for a portfolio of mini-grids across Africa’s most fragile and energy-poor countries. Cofinanced with the Nordic Development Fund, which committed an equivalent of USD5.65-million, the USD11.3-million facility will be managed by Camco Clean Energy, a climate and impact fund manager, and Energy Peace Partners, a United States-registered non-profit that developed the P-REC label. The certificates come exclusively from small-scale mini-grid projects in conflict-affected and energy-poor communities, and are voluntarily purchased by multinationals looking to put their corporate sustainability spending where it drives the greatest social and environmental impact. The facility will enter into long-term purchase agreements with qualifying mini-grid developers across 14 frontier countries – Burundi, Central African Republic, Chad, the Democratic Republic of the Congo, Ethiopia, Liberia, Mali, Niger, Nigeria, Sierra Leone, Somalia, South Sudan, Sudan and Uganda.

Source: AfDB

East Africa

East Africa sets 2026 deadline to scrap trade barriers, but past disputes raise doubts

Leaders of the East African Community (EAC) have set a 30 June 2026 deadline to eliminate remaining non-tariff barriers (NTBs), in a renewed push to deepen regional trade and integration. The decision, reached at the bloc’s 25th Ordinary Summit in Arusha on 7 March, underscores efforts to remove longstanding obstacles that continue to slow the movement of goods across member states. NTBs, ranging from bureaucratic delays and inconsistent standards to restrictive licensing regimes, have long raised the cost of doing business within the region. Studies by TradeMark Africa show such barriers create uncertainty, delay shipments and weaken the competitiveness of local firms, particularly small and medium-sized businesses. Recent data from the EAC Secretariat highlight both progress and gaps. Intra-regional trade rose to USD4.8-billion in the third quarter of 2025, marking a 15% increase from a year earlier. Yet, this still represents only about 15% of the bloc’s total trade, pointing to limited internal integration. By comparison, trade with the rest of Africa stood at USD10.1-billion, or 32.2%, suggesting businesses continue to look beyond the region for opportunities.

Source: Business Insider Africa

East Africa

Shipping lines invoke 19th-century rule to dock at ‘nearest’ ports

Global shipping majors MSC, Maersk, CMA CGM and Hapag-Lloyd are now invoking the Liberties Clause, a 19th-century rule, to reroute cargo and discharge containers at ports of their choosing, rather than the contracted destinations, passing on the cost to the shippers. The move results from the disruption caused by the United States-Israel and Iran war across the Gulf trade lanes, where security risks and operational constraints are preventing vessels from completing their voyages. This has not only caused the rerouting of ships, but has also quietly revived a legal provision that most cargo owners rarely consider. Rooted in 19th-century maritime law and formalised under the Hague Rules, the Liberties Clause allows operators to fulfil their contractual obligations at an alternative discharge point without breaching the terms. It enables carriers to alter routes, delay voyages or terminate carriage at an alternative port if the original passage becomes unsafe or impractical. Shippers Council of Eastern Africa CEO, Agayo Ogambi, said that invoking the rule results in delays and increased costs for shippers, raising the cost of freight.

Source: The EastAfrican

Botswana

Pension funds back economic shift

Botswana’s pension funds are being rallied to channel more of their assets into the domestic economy, as policymakers and industry leaders warn that the country’s next phase of growth will depend on how effectively retirement savings are mobilised for development. The country's pension funds, valued at over BWP166-billion, have been eyed by policymakers as a possible driver of economic growth if channelled to domestic assets to support the country's economic plans. Recently, during the Botswana Pensions Society Annual Congress, policymakers reiterated this notion, highlighting the imperative role pension funds can play in unlocking economic diversification. Delivering remarks on behalf of the Vice President and Minister of Finance, Permanent Secretary Gape Kaboyakgosi said Botswana’s economic model is at a turning point. While the diamond-led growth model has delivered stability for decades, he said diversification has slowed, with unemployment and inequality rising, making it urgent for the country's diversification drive to find alternative financing models.

Source: Mmegi

Botswana

Unsolicited bids rise amid regulatory uncertainty

Government accounting officers have revealed a ballooning increase in the number of unsolicited bids proposed by the private sector, amid what they describe as “grey regulation” areas about how these should be handled. Despite growing calls for the private sector to take a leading role in driving development, the rise in unsolicited proposals is exposing gaps in the procurement framework. Officials say that while the Public Procurement Act of 2021, administered by the Public Procurement Regulatory Authority (PPRA), promotes competition and transparency, it does not clearly define a structured process for assessing unsolicited bids. During the Procurement Pitso recently, Ministry of Transport and Infrastructure Permanent Secretary, Pius Seone, said government continues to experience a year-on-year increase in the number of unsolicited bids, with most of them being difficult to assess due to the stated preference for competitive and transparent bidding in the PPRA Act of 2021.

Source: Mmegi

Cameroon

Cameroon activates new investment law, introduces reporting obligation

Cameroon has activated its new investment incentives framework following the issuance of Ordinance No. 2025/002 of 18 July 2025, now fully in force after its ratification as Law No. 2025/015 on 17 December 2025. The Investment Promotion Agency formalised the implementation through a circular dated 18 March 2026, notifying public enterprises, approved companies and investors of the operationalisation of the revised regime. The measure is designed to improve the business climate, ensure project execution capacity, and support economic growth and employment creation. Under the new Law, both new and expansion projects are eligible for incentives across eight priority sectors: agriculture, livestock farming and fisheries; heavy industry, automotive and manufacturing; water and energy; health and education; air, rail and maritime transport; tourism and leisure; large-scale distribution infrastructure; and digital data storage and processing infrastructure. Access to incentives is not automatic. Under Article 6(2) of the Ordinance, investors must submit documentation covering four areas: a local skills development and technology transfer programme; a plan prioritising the recruitment of Cameroonian workers; a commitment to using local subcontractors and contractors; and proof of sufficient financial capacity to fund all estimated investment costs.

Source: Business in Cameroon

Cameroon

Douala Airport upgrade reopens bidding after failed first tender

Cameroon Airports (ADC) has restarted the process to modernise Douala International Airport, reopening the search for contractors to handle key parts of the passenger terminal project. In a notice issued on 23 March, ADC Director General Thomas Owona Assoumou invited companies to apply for prequalification to build several passenger terminal facilities. The move follows an earlier call for bids launched in December that was declared unsuccessful. The prequalification process is open to both local and international construction firms or consortia. Applicants may bid for one, two, or all three project lots. Submissions will be evaluated based on technical and financial capacity, as well as experience delivering similar infrastructure. Companies have until 23 April 2026 to submit applications. A formal tender is expected in the second quarter of 2026, with construction work scheduled to last 24 months. The project includes a 25 000-square-metre expansion of the terminal to accommodate a new baggage handling system, baggage claim area, check-in hall, passenger and cabin baggage screening zones, and a new central boarding area. It also covers upgrades to concourses A and B, arrival processing areas, baggage claim facilities, airside offices, and VIP lounges. ADC says the selected contractor will need to coordinate closely with other firms involved in equipment supply and aircraft parking development to ensure overall project consistency.

Source: Business in Cameroon

Ghana / Colombia

Ghana, Colombia strike direct shipping deal to open new Atlantic trade corridor

Ghana and Colombia have agreed to establish a direct maritime shipping link between the Port of Tema and the Port of Cartagena, as both countries seek to expand trade between Africa and Latin America and reduce reliance on traditional transatlantic routes. The agreement, reached in Bogotá and announced by Ghana’s Foreign Minister, Samuel Okudzeto Ablakwa, is expected to cut shipping times and costs while improving market access for exporters on both sides. It marks a rare direct logistics corridor between the two regions, where trade has long been constrained by indirect routes through Europe and North America, adding time and expense to shipments. Beyond the shipping link, the deal includes cooperation on port operations, customs systems and infrastructure modernisation, with officials aiming to improve efficiency and competitiveness. The move builds on recent diplomatic momentum. In December 2025, Colombia’s Vice-President Francia Elena Márquez Mina visited Ghana to explore port investments and deepen commercial ties, part of Bogotá’s wider effort to expand its footprint in Africa. For Colombia, the partnership offers a gateway into West Africa’s growing consumer markets. For Ghana, it provides more direct access to Latin America and supports its ambition to position Tema as a regional logistics hub.

Source: Business Insider Africa

Guinea-Bissau

IMF Executive Board completes the ninth and 10th reviews under the ECF arrangement for Guinea-Bissau

The Executive Board of the International Monetary Fund (IMF) has completed the ninth and 10th reviews under the Extended Credit Facility (ECF) arrangement for Guinea-Bissau. The three-year arrangement, approved on 30 January 2023, aims to secure debt sustainability, improve governance and reduce corruption, while creating fiscal space to foster inclusive growth. The Executive Board granted an augmentation of access on 29 November 2023. The completion of the reviews enables the disbursement of SDR2.37-million (about USD3.2-million) to help meet the country’s balance-of-payments and fiscal financing needs. This brings total disbursements under the arrangement to SDR37.41-million (about USD50.8-million). Programme performance since the eighth review in June 2025 has been weaker than expected. Three out of 10 end-June 2025 Quantitative Performance Criteria (QPCs) and five out of 10 end‑December 2025 QPCs were missed. Of the 15 Structural Benchmarks set for June–December 2025, five were met, while 10 were implemented with delays, and all three Continuous Structural Benchmarks were missed. In completing the reviews, the Executive Board granted waivers for the non-observance of QPCs, approved the authorities’ requests for modifications of Performance Criteria and Indicative Targets, and completed the financing assurances review. The Executive Board also approved the authorities’ request for a programme extension through 29 December 2026, along with a rephasing of access.

Source: IMF

Kenya / Rwanda

Payments without borders: Kenya and Rwanda pilot fintech licence passporting

Kenya and Rwanda have introduced a new cross-border payments initiative aimed at simplifying how financial technology firms operate between the two markets. Through a memorandum of understanding between the Central Bank of Kenya and the National Bank of Rwanda, the regulators have established a licence passporting framework that will allow licensed payment service providers to access both jurisdictions more efficiently. The framework creates a structured mechanism through which a payment institution authorised in one country may operate in the other without repeating a full licensing process. Although firms remain subject to the applicable regulatory requirements of each jurisdiction, the arrangement introduces a form of regulatory recognition that reduces duplication and lowers the administrative burden associated with entering a neighbouring market. This initiative forms part of broader efforts within the East African Community (EAC) to improve the efficiency of regional financial infrastructure.

Source: ENS

Lesotho

LHDA to hand over Senqu Bridge to Lesotho Government

The Lesotho Highlands Development Authority (LHDA) is set to officially open the Senqu Bridge during a ceremony scheduled for 22 April in Mokhotlong. This was revealed in an invitation letter read before Members of Parliament recently by the Speaker of the National Assembly, Mr Tlohang Sekhamane. According to the letter, the ceremony will be officiated by King Letsie III, accompanied by the President of South Africa, Cyril Ramaphosa, highlighting the strong partnership between Lesotho and South Africa under the Lesotho Highlands Water Project (LHWP). The letter further notes that the LHDA will formally hand over the bridge to the Government of Lesotho as part of the day’s proceedings. Completed in early 2026, the Senqu Bridge marks a significant milestone in Phase II of the LHWP, signalling substantial progress in the project’s advanced infrastructure works. The structure is described as a remarkable engineering achievement, constructed within the challenging high-altitude terrain of the Lesotho Highlands. Rising above the future Polihali Reservoir, the bridge restores a vital transport link that will be submerged by the reservoir, ensuring continued connectivity for communities and supporting economic activity in Mokhotlong and surrounding areas. The ceremony represents an important national milestone, celebrating infrastructure development, regional cooperation and the transformative socio-economic benefits of the LHWP.

Source: Government of Lesotho

Mali

IMF management approves the second review of the SMP with Mali

Management of the International Monetary Fund (IMF) approved on 18 March 2026 the second and final review of Mali’s Staff Monitored Program (SMP). The SMP, approved in March 2025, aims to ensure fiscal sustainability, strengthen governance, and protect the most vulnerable. Mali’s economy is rebounding from the setbacks experienced in late 2025, as security tensions have eased and gold production is recovering. Economic activity in 2025 was dampened by lower gold production and fuel supply disruption in the fourth quarter following terrorist attacks. Looking ahead, measures to restore fuel supply and improve security conditions, the repayment of domestic arrears, and the resolution of the mining dispute are expected to support recovery in 2026. Inflation remains below 3%, as in 2025. Programme implementation under the SMP has been robust. All quantitative and indicative targets in the second review – including priority social spending, net tax revenues, domestic and external arrears, and the primary fiscal deficit – were observed, and there was overperformance in some instances. All structural benchmarks were met, including digitalisation of tax receipts, interconnectivity of tax administration and the development of an action plan related to the census of public accounts.

Source: IMF

Mauritania

Mauritania secures USD1-billion ITFC deal to shield economy from energy shocks

Mauritania has signed a USD1-billion five-year framework agreement with the International Islamic Trade Finance Corporation (ITFC) for 2026–2030, giving the country a major new financing boost for trade, energy and private-sector development. The agreement also includes technical assistance for agriculture and trade facilitation. The deal comes at a critical time, as energy security climbs back up the policy agenda and volatile oil prices continue to pressure import-dependent economies like Mauritania. For Mauritania, where imported fuel still underpins power generation and industrial activity, the deal is a strategic buffer against external energy shocks and a tool to keep growth plans on track. The ITFC’s support for energy commodity imports, local bank trade finance and small and medium-sized enterprise access to liquidity could help ease pressure on supply chains and maintain economic momentum while larger domestic energy projects move toward delivery. Since 2008, the ITFC has already approved more than USD1.2-billion for Mauritania, making this latest package a significant scaling-up of a longstanding partnership. The ITFC plans to provide trade finance facilities and confirmation lines for letters of credit to Mauritanian banks, a move that can improve access to international oil suppliers and reduce transaction risk for Mauritania.

Source: Energy Capital & Power

Nigeria / Chad / Libya

Nigeria advances USD20-billion gas pipeline across Chad, Libya, linking gas fields to European markets

Nigeria is preparing to export 30-billion cubic metres of natural gas annually to Europe through a proposed USD20-billion pipeline corridor spanning Nigeria, Chad, Libya and Sicily, in a move designed to unlock long-dormant energy wealth and tackle Europe’s growing energy insecurity. The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, led a delegation of Nigerian officials and industry stakeholders to London recently to advance discussions on the initiative, which is being developed by the Netoil consortium. The pipeline is part of a strategic, investment-led effort to accelerate gas monetisation, mobilise large-scale upstream investment, and create durable economic value for Nigeria and transit countries. “Nigeria is set for investors to take advantage of its natural gas. With the Petroleum Industry Act and the executive orders by Mr President, the petroleum sector has a conducive environment to attract investments.” “We must be intentional in the utilisation of our resources… and better the lives of those in the region,” Ekpo said during the engagement, coinciding with President Bola Ahmed Tinubu’s state visit to the United Kingdom.

Source: Business Insider Africa

Rwanda

Global nuclear watchdog backs Rwanda’s USD6-billion bid to build first reactor by 2030s

The International Atomic Energy Agency (IAEA) has backed Rwanda’s progress toward developing a nuclear power programme, following an eight-day review mission that assessed the country’s readiness to introduce nuclear energy into its power mix. The Integrated Nuclear Infrastructure Review mission, conducted at Kigali’s request between 2 and 9 March, found that Rwanda is making steady advances in building the institutional, legal and technical foundations required for nuclear power. The IAEA noted strong government coordination, early-stage regulatory development, and proactive stakeholder engagement as key strengths in the country’s approach. According to the IAEA report, “the team identified good practices that would benefit other countries developing nuclear power in the areas of strong government commitment and coordination, proactive engagement with stakeholders, and early and comprehensive preparation for emergency preparedness and response.” Rwanda is targeting nuclear energy to supply between 60% and 70% of its electricity over the long term, with plans to deploy its first small modular reactor in the early 2030s. The programme is being driven by the Rwanda Atomic Energy Board, established under a 2020 presidential order, as part of broader efforts to reduce reliance on imported electricity and fossil fuels.

Source: Business Insider Africa

Seychelles

IMF staff reaches staff-level agreement on the fifth and sixth reviews of the EFF and the RSF and conducts discussion on the 2026 Article IV consultation with Seychelles

An International Monetary Fund (IMF) team led by Mr Todd Schneider, Mission Chief for Seychelles, visited Victoria from 4–19 March 2026, to conduct discussions for the two final reviews (fifth and sixth) under the Extended Fund Facility (EFF) and Resilience and Sustainability Facility (RSF) arrangements and the 2026 Article IV Consultation. Consideration by the IMF Executive Board is tentatively scheduled for May 2026. At the end of the mission, Mr Schneider issued the following statement, in part: “We are pleased to announce that IMF staff and Seychellois authorities have reached a staff-level agreement on policies to complete the final reviews of Seychelles’ 36-month EFF and RSF arrangements. Subject to reform implementation and approval by the IMF Executive Board, Seychelles will receive a disbursement of up to SDR32.9-million (about USD45-million), bringing total disbursements to SDR76.7-million (about USD105.1-million) since May 2023. The Seychelles economy saw robust performance in 2025. Real GDP growth is estimated at 5.1%, driven by record tourist arrivals, while consumer price inflation was just below zero. The government fiscal balance for 2025 is estimated as a primary surplus of 2.5% of GDP, which helped reduce the level of public and publicly guaranteed debt to 53.6% of GDP.”

Source: IMF

Tanzania

PDPC: CCTV use without registration illegal

The Tanzania Personal Data Protection Commission (PDPC) has warned that it is a legal offence for any individual or institution to install or operate CCTV cameras without registering with the Commission. The warning was issued recently by the Head of Public Relations and Communications at the PDPC, Innocent Mungy, during a presentation at the 110th Public Education Stakeholders Meeting held in Arusha and organised by the Tanzania Broadcasting Corporation. Mr Mungy explained that CCTV cameras are considered tools for collecting personal data and are widely used in homes, offices, business premises, recreational areas and other locations. He said the law requires all CCTV users to display clear notices informing the public that the area is under surveillance and that the Personal Data Protection Act is being observed. This helps ensure transparency and protects users from legal action related to invasion of privacy and violation of personal dignity. “The Personal Data Protection Act recognises CCTV cameras as tools that collect personal data. It is therefore important to display signs indicating that an area is under surveillance, just as people post warnings about the presence of a dangerous dog,” he said. Mr Mungy also stressed that CCTV cameras must be positioned to capture only the owner’s premises and not extend into neighbouring or public areas unnecessarily.

Source: Daily News

Togo

Progress in reforming public expenditure management in Togo

Since May 2023, at the request of the Togolese authorities, the Fiscal Affairs Department of the International Monetary Fund (IMF) has been implementing a technical assistance project on public financial management reform, financed by the European Union. This approach is fully in line with the directives adopted by the West African Economic and Monetary Union. This project is structured around three pillars, namely: (i) support the transition to programme-based budget management and the development of gender-responsive budgeting and climate-sensitive budgeting tools; (ii) improve the efficiency of public investment management; and (iii) strengthen fiscal risk management. It combines the support of a Resident Advisor (Mr Ephrem Ghonda Makiadi) together with short-term experts and missions from IMF headquarters. After almost three years, this project has made significant progress. In the area of budget management, the project has enabled the gradual adoption of the tools necessary to complete the transition to programme budgeting, which took effect on 1 January 2020. This reform allows for the first time in Togo to direct public expenditure towards measurable results, by clearly linking the resources allocated to the objectives of public policies.

Source: IMF Public Financial Management Blog