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issue 657 | 30 Aug 2026

Africa

African Union to launch African credit rating agency in October, adviser says

The African Peer Review Mechanism (APRM) – an African Union (AU)-backed initiative – will launch a continent-wide credit ratings agency in October, a senior adviser at the AU said recently, as it seeks ‌to tackle high borrowing costs. Paul Sikazwe, Technical Adviser on Debt to the AU Commission, said the ratings agency created for Africa will be launched in Mauritius on 5 October. “This is a sign of progress in our ambition to provide momentum for the reform of ⁠the international financial architecture,” said Sikazwe, speaking during a conference on debt and development in the Kenyan capital hosted by campaign group AfroDad. The APRM has been working for years on the launch of an agency that assesses the creditworthiness of African sovereigns as governments seek an alternative to ratings from the dominant global ratings firms such as Fitch, Moody's and S&P Global. The AU is also forging ahead with a push to take common action on debt by its 54 member states, Sikazwe ⁠said, including the inauguration of an African Monetary Institute in Abuja in late October, which is designed to serve as a precursor to a regional central bank.

Source: Reuters

Africa

ECA calls for a new fiscal compact between finance and health ministries to transform Africa’s health financing

Speaking at a ministerial dialogue held on the margins of the 76th WHO Regional Committee for Africa recently, Aboubakri Diaw, Chief of Staff of the United Nations Economic Commission for Africa (ECA) and Project Lead for ECA’s Sustainable Financing Initiative launched in March 2026, called for a fundamental reset in how African governments and their finance ministries fund health systems, warning that the continent’s challenge is not a shortage of reforms but a shortage of financed reforms. “We have a fundamental fiscal problem that is tied to the health-sector problem,” Diaw told ministers and senior officials gathered for the dialogue. “Many countries on this continent now spend more on servicing debt than on public health.” As indicated by Mr Diaw, health is a central pillar of Africa’s socioeconomic transformation. Strategic investment in health systems contributes directly to human capital development, productivity, and inclusive growth. Yet Africa’s health financing model remains structurally fragile: governments finance less than 41% of total health expenditure on average, and unpredictable donor funding pushes households towards out-of-pocket payments that drive more than 150 million people into poverty every year. He argued that the way forward is a multi-year fiscal compact between ministries of finance and ministries of health, replacing the “annual, adversarial budget negotiation” with an arrangement in which finance commits to predictable, protected allocations and health commits to measurable efficiency and results.

Source: ECA

Central Africa

AfDB Group, ECCAS strengthen partnership to accelerate regional integration

The African Development Bank (AfDB) Group and the Commission of the Economic Community of Central African States (ECCAS) held a technical dialogue mission in Libreville, Gabon, from 20 to 22 July 2026, dedicated to strengthening their partnership and drafting the Regional Integration Strategy Document for Central Africa for the next five years. The mission, which brought together officials and experts from both institutions, aimed to consolidate areas of cooperation and ensure that the strategy, known as the DSIR-AC 2026–2031, aligns with the Central States Commission’s Medium-Term Indicative Strategic Plan for 2026–2030. It also provided an opportunity to examine challenges facing regional integration, the outcomes of the 2019–2025 regional strategy, the priorities of the new 2026–2031 regional strategy, and the performance of the regional portfolio. “The [AfDB’s] new regional strategy for Central Africa, aligned with the Bank’s Strategic Vision and with ECCAS’s 2026–2030 Medium-Term Strategic Investment Plan, will aim to support the accelerated implementation of the African Continental Free Trade Area in Central Africa, by strengthening inclusive and resilient regional infrastructure,” said Nouridine Kane Dia, the Bank Group’s country representative in Gabon.

Source: AfDB

East Africa

EAC inaugurates three technical working groups to drive implementation of regional Cross-Border Payment System Masterplan

The East African Community (EAC) has inaugurated three Technical Working Groups (TWGs) to provide technical guidance and support the implementation of the EAC Cross-Border Payment System Masterplan. The inauguration took place during the first Joint Meeting of the TWGs held in Mombasa, Kenya from 18 to 22 August 2026. The meeting brought together representatives from the central banks of all EAC partner states, the EAC Secretariat and development partners, including the World Bank, GIZ, FSD Network and TradeMark Africa. The meeting, chaired by the Bank of Uganda and with the National Bank of Rwanda serving as rapporteur, marked a significant transition from the planning phase to implementation of the Masterplan, which provides a coordinated roadmap towards an integrated, secure, efficient, affordable and inclusive regional cross-border payments ecosystem. The Masterplan is anchored on four key pillars, namely governance, legal, regulatory and oversight; infrastructure; inclusivity; and capacity building, comprising 20 strategic initiatives aimed at strengthening cross-border payment systems across the EAC region.

Source: EAC

East Africa

EAC Medical Bill to curb counterfeit drugs, address shortages

The proposed East African Community Medical Products Bill, 2024, will go a long way in enhancing the implementation of the East African Community (EAC) Customs Union and the Community’s Industrialisation Policy and Strategy. According to Dr Abdullah Makame, the Chairperson of the East African Legislative Assembly (EALA) General-Purpose Committee, the region had the capacity to manufacture some of the products it needed but lacked adequately coordinated systems and policies to ensure that those products could be produced and moved efficiently across partner states. “We were caught off guard when the COVID-19 pandemic struck,” Dr Makame noted, adding that the crisis exposed East Africa to be fully dependent on imported medical products that could potentially be manufactured locally. Speaking during a Public Hearing on the proposed Bill, Dr Makame said the Bill was both essential and timely, clarifying that the EAC is seeking to establish a harmonised regional framework for the regulation, production, movement and access to medical products under the proposed legislation. Introduced in EALA in October 2024, the Bill seeks to improve cooperation and access to safe, quality, and affordable medicines across the region. Members of Parliament said the legislation was intended to harmonise the management, production, and distribution of medical products, while supporting regional industrialisation and reducing overdependence on supplies from outside Africa.

Source: Kenya News Agency

East Africa

Textile, leather firms eye bigger AfCFTA market

East African businesses should identify products with the greatest export potential and target promising markets under the African Continental Free Trade Area (AfCFTA), an East African Business Council (EABC) trade expert has said. Adrian Raphael Njau, Trade and Policy Advisor at the EABC, said greater value addition to raw materials in sectors such as leather, textiles and edible oil could help businesses capture a larger share of the African and global markets. “There is a need for increased value addition to the region’s raw materials to unlock greater value from the growing global leather market,” he said. Njau noted that EAC partner states exported raw hides and skins worth USD33-million in 2023, while imports stood at USD6-million. Globally, trade in finished leather increased from USD57-billion in 2005 to USD99-billion in 2024. However, the EAC accounts for less than 1% of global leather exports, while the region imported USD49-million worth of leather goods. Njau said East African countries need to invest more in processing and manufacturing to move beyond exporting raw materials and capture more value from the leather industry. The EABC, with support from the African Development Bank through the Fund for African Private Sector Assistance, is empowering enterprises in the textile, edible oil and leather sectors with practical knowledge and skills to access AfCFTA markets through the Rwanda Business Clinic.

Source: The New Times

Angola

Angola advances first gold refinery towards end-2026 launch

Angola is advancing the development of its first gold refinery, with the facility now in the commissioning and technical capacity-building phase ahead of its planned launch by the end of 2026. Current activities include equipment testing and the training of national personnel in gold testing, casting, tuning and certification, with this phase expected to conclude in September 2026. Located at the Viana Industrial Park in Luanda, the 3 789.95 square metre facility will process up to 25 kg of gold per day and include a refinery, laboratory and public assay office. The assay facility will certify the purity of gold, silver and platinum and issue official guarantee marks. The refinery is expected to strengthen local beneficiation by adding value to output from Angola’s 49 ongoing gold exploration projects and four projects already in production, representing more than USD120-million in investment. Following the start of operations, the refinery plans to pursue international certifications including ISO 9001, ISO 14001, ISO 45001, ISO 11426 and ISO 17025, as well as accreditation from international bodies such as the London Bullion Market Association.

Source: Prospect

Botswana

BOBS moves to fast-track standards for local manufacturers

The Botswana Bureau of Standards (BOBS) has developed 80 standards for the leather industry, as the parastatal steps up efforts to align national standards with the needs of emerging local manufacturers and government industrialisation priorities. It has been revealed that the standards cover blue and processed hides and skins from bovine animals, sheep, goats and buffalo, as well as finished leather products such as belts and bags. Answering a question in Parliament recently, Minister of Trade and Entrepreneurship, Tiroeaone Ntsima, said BOBS was also developing a wood sawdust standard specification following a request from a local timber manufacturing and processing company. It intends to use the sawdust, primarily for poultry bedding, and requires the product to be certified against a recognised standard. “The company indicated that it intends to supply customers who require the product to be certified against a recognised standard. The development of this standard will follow the fast-tracked method and will take approximately three months,” Ntsima said. The development of industry-specific standards comes as Botswana seeks to expand local manufacturing and extract greater value from its agricultural and natural resources.

Source: Mmegi

Botswana

BURS, BERA collaborate to combat illegal trade

Botswana is losing close to BWP4-billion in revenue annually due to illicit trade of petroleum products – a staggering loss that has prompted two key state agencies to join forces in a bid to plug the leaks. Botswana Energy Regulatory Authority (BERA) Chief Executive Officer, Dr Never Tshabang, made the revelation at a signing ceremony of a memorandum of understanding (MoU) with Botswana Unified Revenue Service (BURS) recently. The MoU signed by the two entities seeks to strengthen cooperation in tackling illicit fuel trade and revenue leakages in Botswana’s petroleum sector. The agreement establishes a framework for closer collaboration on enforcement, monitoring and oversight across the petroleum supply chain. Under the MoU, BERA and BURS will coordinate enforcement activities, conduct joint risk management and strengthen intelligence-led monitoring of petroleum products. The cooperation will also cover Botswana’s entry points, where the movement of petroleum products will be monitored as part of efforts to address illicit activities. The two institutions said the partnership is intended to support a more coordinated approach to enforcement, replacing isolated interventions with joint efforts informed by information and risk assessments.

Source: The Voice

Central African Republic

Central African Republic inaugurates 50 MW Sakaï solar-storage plant

The Central African Republic has inaugurated a 50 MW solar photovoltaic plant in Sakaï, southwest of Bangui, as the country moves to expand generation and improve grid reliability. Developed by Abu Dhabi-based Global South Utilities, the project includes 15 MWh of battery storage and is expected to increase national electricity generation capacity by more than 60%. The facility uses more than 80 000 solar panels and 156 inverters and is expected to supply electricity to more than 300 000 households through the national grid. The 15 MWh battery system is designed to support grid stability and help manage the variability of solar generation. Electricity supply from the completed plant will be rolled out in phases, beginning with 15 MW supplied to Bangui’s third and ninth districts before extending to other areas. The facility was completed approximately 10 months after construction began in August 2025.

Source: Prospect

Ghana

Technology Transfer Agreements under Ghana’s new Investment Promotion Authority Act, 2026: A guide for investors

Ghana’s investment landscape has undergone significant reform with the enactment of the Ghana Investment Promotion Authority Act, 2026 (Act 1173) (the Act), which repeals and replaces the Ghana Investment Promotion Centre Act, 2013 (Act 865). The Act establishes the Ghana Investment Promotion Authority as the successor body to the Ghana Investment Promotion Centre, with a broadened mandate to promote and regulate investments in Ghana. A central feature of the new legislative framework is the regime governing technology transfer agreements (TTAs). TTAs are a critical mechanism through which foreign technology, know-how, and expertise are introduced into the Ghanaian economy. They facilitate the licensing of intellectual property, the provision of technical and managerial services, and the transfer of operational knowledge to local entities. For foreign investors, technology providers, and local entities alike, understanding the TTA framework is essential to structuring compliant and enforceable cross-border technology arrangements in Ghana. This article provides a comprehensive overview of the TTA regime under the Act, including the regulatory framework for registration, enforceability, fee caps, and practical considerations for investors.

Source: ENS – click here to read the full ENSight

Mauritius

FSC issues Guidance Notes on Stablecoins – Key developments for industry participants

The Financial Services Commission (FSC) has issued its Guidance Notes on Stablecoins (the Guidance Notes), three years after the publication of Draft Guidance Notes for public consultation in July 2023. The Guidance Notes represent a significant strengthening of the regulatory regime for stablecoins in Mauritius, reflecting the jurisdiction’s ambition to meet international benchmarks. Stablecoins are virtual assets that aim to maintain a stable value relative to a specified asset, or a pool or basket of assets. The Guidance Notes distinguish two categories of stablecoins: asset-linked stablecoins – these purport to link the stablecoin to physical or financial assets to maintain a stable value relative to the referenced asset(s). Some arrangements may also provide, directly or indirectly, yield, interest, or other remuneration to holders; and algorithmic stablecoins – these are generally unbacked virtual assets that attempt to maintain a stable value through protocols that increase or decrease supply in response to changes in demand.

Source: ENS – click here to read the full newsflash

Mauritius

New regulations to combat illegal, unreported and unregulated fishing

Government has agreed to the promulgation of the Fisheries (Electronic Reporting Systems) (Amendment) Regulations 2026, which will improve the operational effectiveness of the Electronic Reporting System in place and the quality of fisheries data and catch reporting. The Regulations will strengthen compliance of licensed fishing vessels with regard to fishing and fishing-related activities, and thus support the sustainable management of the fisheries resources of Mauritius. The Regulations will also deter and eliminate illegal, unreported and unregulated fishing in our national waters and the Indian Ocean region. Amendments being brought to the existing Regulations will, among other things: require the operator of a licensed fishing vessel to have the Electronic Reporting System unit repaired, at a port to be approved by the Ministry of Agro-Industry, Food Security, Blue Economy and Fisheries, within a period of 30 days as from the date that any irregularity or malfunctioning is detected. Furthermore, the operator will not be allowed to start or pursue any fishing trip until the unit is replaced or repaired, and thereafter verified by the ministry. This will help to reduce the risks of operators tampering with or misusing the unit, and improve data integrity and recording.

Source: Government of Mauritius

Mauritius / South Africa

Mauritius’ 2026 Family Office regime: A comparative perspective with South Africa

As private wealth expands across Africa, both South Africa and Mauritius have emerged as key jurisdictions for family wealth structuring. South Africa serves as a leading hub for high-net-worth individuals and private wealth advisory services, while Mauritius has positioned itself as an international financial centre offering cross-border wealth planning solutions. Although both jurisdictions play a significant role in the private wealth landscape, they adopt markedly different approaches to the regulation of what is known as family offices. This distinction is particularly relevant following the introduction of the Financial Services (Family Office) Rules 2026 (the 2026 Rules) in Mauritius on 1 June 2026, replacing the Financial Services (Family Office) Rules 2020 (the 2020 Rules). The single family office and multiple family office licence categories are not themselves new, as they already existed under the 2020 Rules, however, the 2026 Rules substantially revise the regulatory framework: they apply immediately to new applications, with existing licensees given until 31 December 2026 to transition. Mauritius offers a dedicated licensing regime that formally recognises and regulates family office activities, while South Africa accommodates family offices within its broader financial services and corporate law framework. This article examines the key features of the new Mauritian framework alongside South Africa’s approach, as families increasingly hold assets across multiple African jurisdictions.

Source: ENS – click here to read the full ENSight

Namibia

Bank Windhoek makes capital market history with first paperless corporate bond

Bank Windhoek has made capital market history by becoming the first financial institution and corporate bond issuer in Namibia to successfully dematerialise a Namibia Securities Exchange (NSX)-listed corporate bond into the Central Securities Depository (CSD). The historic transaction involved the bank’s NAD250.5-million BWJh28L Sustainability-Linked Bond, originally issued in August 2025, converting the physical paper-based security into a secure electronic record within the CSD infrastructure. The move follows the launch of Namibia’s CSD in December 2025 by the NSX, developed in partnership with the Bank of Namibia and regulated by the Namibia Financial Institutions Supervisory Authority. The Bank, in an announcement recently, said the milestone is about more than converting a physical certificate into an electronic record. It reflects the Bank’s commitment to partnering in and piloting national priorities that contribute to the development of Namibia’s financial ecosystem. Under the dematerialised system, ownership of the bond is recorded electronically rather than through physical certificates. Interest payments and changes in ownership will be managed electronically through the CSD by Bank Windhoek’s appointed CSD participant, NSX Financial Market Services. According to the Bank, registered bondholders were notified on 8 August of the planned dematerialisation and were requested to submit their bond certificates for verification and conversion on 21 August.

Source: Namibia Economist

Namibia

Cattle marketing surges over 30% in July, fuelled by export demand

The livestock sector recorded a sharp uptick in activity during July, with total cattle marketing surging by 31.85% month-on-month to reach 30 653 head, according to the latest figures released by the Livestock and Livestock Products Board of Namibia. The growth was particularly driven by a 73.14% month-on-month increase in live exports to 13 008 head and an 18.51% month-on-month rise in A-class export abattoir slaughter to 15 585 head. However, BCC class abattoir throughput declined by 20.31% month-on-month to 2 060 head. South Africa remained the dominant destination for the country’s live cattle exports, accounting for 95.94%, which translates to 12 480 head. These exports consisted entirely of feeder cattle destined for South African feedlots. Angola accounted for 4.05% of total live exports, comprising 75 breeding cattle and 452 cattle, while Botswana accounted for the remaining 0.01%, comprising breeding cattle. Overall, feedlot cattle accounted for 95.94% of total live cattle exports, followed by the ‘other’ category at 3.47% and breeding cattle at 0.58%. Despite higher marketing levels, the producer prices strengthened during the reporting period. The B2 producer price rose marginally by 0.08% month-on-month to NAD77.88/kg, while all-grade carcass price increased by 0.57% month-on-month to NAD74.48/kg.

Source: The Namibian

Namibia

Government targets 1 000-km rail upgrade

The government is targeting the upgrading of 1 000 km of Namibia’s railway infrastructure in the 2026/27 financial year as it directs NAD952.1-million towards modernising the national rail network. The railway programme has received the largest allocation under the Ministry of Works and Transport’s transport infrastructure programmes, exceeding the NAD771.4-million allocated to road infrastructure. The ministry’s Director for Administration, Moses Matatias says railway development remains a flagship programme as the government seeks to upgrade and maintain the network through TransNamib and implement the Railway Master Plan. “The second programme under the department of transport is the provision and upgrading of the railway network. This is the ministry’s flagship programme and receives the largest allocation. The programme has been allocated NAD952-million for the current financial year,” Matatias says. Of the NAD952.1-million allocation, NAD946-million has been earmarked for development activities, while NAD6.1-million will cover operational expenditure. According to a presentation delivered by Matatias to members of the National Council, the government aims to have upgraded 1 000 km of railway infrastructure by 2026/27, with the target increasing to 1 360 km by 2028/29. The programme also targets the maintenance of 1 600 km of railway lines annually as the government seeks to improve the condition and reliability of the network.

Source: The Namibian

Namibia

Namibia fires up Africa’s first green hydrogen hub

Namibia has commissioned Africa’s first integrated green hydrogen facility at Walvis Bay, combining solar power, hydrogen production and battery storage for industrial and transport use. The CMB Tech Namibia facility uses a 5 MWp solar park, a 5 MW proton exchange membrane electrolyser and a 5.9 MWh battery storage system to produce green hydrogen off-grid. The project is being positioned as Africa’s first fully-integrated green hydrogen facility, with its initial output earmarked for industrial and transport applications, including dual-fuel trucks, generators and a hydrogen-powered freight locomotive. In a statement issued recently, Siemens sub-Saharan Africa Chief Executive Sabine Dall’Omo says the facility demonstrates that large-scale clean energy production can already be achieved on the continent. “Africa’s first fully-integrated green hydrogen facility demonstrates that large-scale clean energy production is not a future ambition, but a present-day reality,” Dall’Omo says. The facility is located at Walvis Bay, where solar power is used to generate electricity for an electrolyser that separates water into hydrogen and oxygen. The hydrogen can subsequently be combined with nitrogen to produce ammonia, which could eventually be used as a marine fuel. CMB Tech Chief Technology Officer Roy Campe describes the facility as a “living lab” for an integrated hydrogen economy.

Source: The Namibian

Nigeria

Dangote refinery flips Nigeria’s fuel trade as exports surge seven-fold and imports fall below 130 000 bpd

Nigeria’s fuel trade has undergone a dramatic reversal since the arrival of the Dangote refinery, with petroleum product exports surging more than sevenfold while seaborne imports have fallen to less than a third of their 2023 level. Nigeria exported an average of 350 000 barrels of petroleum products per day in the second quarter of 2026, up from an annual average of just 46 000 barrels per day (bpd) in 2023, according to new data published by the United States Energy Information Administration. At the same time, Nigeria’s seaborne petroleum product imports fell below 130 000 bpd, compared with nearly 400 000 bpd three years earlier. The figures provide one of the clearest indications yet of how the Dangote Petroleum Refinery is changing a long-standing contradiction in Africa’s oil industry, where one of the continent’s major crude producers depended heavily on imported refined fuel. Exports to Europe reached an average of 130 000 bpd in the second quarter, nearly nine times the 15 000 bpd shipped to the continent in 2023. Nigeria also exported nearly 120 000 bpd to other African countries during the quarter, up from 89 000 bpd in 2025.

Source: Business Insider Africa

Somalia

Somalia moves closer to restoring own currency after 35 years

Somalia is moving closer to reintroducing the Somali shilling after more than three decades of dollar reliance, as the government seeks to restore monetary sovereignty, rebuild confidence in the local currency and strengthen the conduct of monetary policy. The Central Bank of Somalia (CBS) says preparations for the reintroduction of the Somali currency are at an advanced stage, with key work including reforms underpinning the proposed Currency Board Arrangement, amendments to the Central Bank of Somalia Act currently before Parliament and the Board’s approval of reserve management regulations. These measures, the Bank says, are essential to ensuring that the ongoing currency reform is credible, carefully sequenced and supported by strong institutional safeguards. “A major priority during 2025 was the continued advancement of the reintroduction of the Somali shilling through the implementation of a Currency Board Arrangement,”. The CBS has not issued new domestic currency notes since 1991, contributing to a largely dollarised economy.

Source: The EastAfrican

Tanzania

Tanzania inaugurates USD3.35-billion Julius Nyerere Hydropower Project

Tanzania has officially inaugurated the 2 115 MW Julius Nyerere Hydropower Project, bringing the country’s largest power generation facility fully into its electricity system. President Samia Suluhu Hassan inaugurated the USD3.35-billion project on 22 August following construction that began in June 2019 and was completed in March 2025. The project was fully financed by the Tanzanian Government and built by an Egyptian consortium comprising Arab Contractors and Elsewedy Electric. The facility features nine generating units with capacity of 235 MW each, giving it total installed capacity of 2 115 MW. The facility has lifted Tanzania’s installed generation capacity to approximately 4 646 MW, according to Energy Minister Deogratius Ndejembi. Peak national demand stands at about 2 271 MW, leaving a potential surplus of around 2 375 MW. The government plans to use the additional capacity to expand electricity exports, with an agreement already in place to supply power to Zambia and a trading agreement established with Kenya.

Source: Prospect

Zimbabwe

Zimbabwe's annual ZiG inflation drops to 2.9% in August

Zimbabwe's annual inflation rate of the local Zimbabwe Gold (ZiG) currency fell further to 2.9% in August from 3.2% in July, according to official data released recently by the Zimbabwe National Statistics Agency (ZIMSTAT). The month-on-month ZiG inflation rate remained stable at 0.1% in August, unchanged from the previous month. In United States (US) dollar terms, the monthly inflation rate dropped to 0.0% in August, down from July's 0.3%. The annual US dollar inflation rate held steady at 3.1%, ZIMSTAT reported. The agency credited ongoing exchange rate stability for keeping both ZiG and US dollar inflation low during the month. The Reserve Bank of Zimbabwe, the country's central bank, said that it expects annual ZiG inflation to average around 5% by the end of 2026, with monthly inflation staying under 1% due to a tight monetary and fiscal policy stance. Zimbabwe recorded a single-digit annual ZiG inflation rate of 4.1% in January for the first time in over three decades, with monetary authorities reiterating their commitment to maintaining price stability to anchor long-term macroeconomic growth.

Source: Xinhua