Kenya’s High Court on December 11 issued temporary orders halting the implementation of the $1.6 billion Kenya–US Health Cooperation Framework. The ruling came after the Consumers Federation of Kenya filed a petition warning that the agreement could permit the transfer of confidential medical and epidemiological data belonging to citizens. The orders suspend any steps to operationalise the pact “insofar as it provides for or facilitates the transfer, sharing or dissemination of medical, epidemiological or sensitive personal health data.” The legal challenge, filed under HCCHRPET/E809/2025, marks the first major attempt to scrutinise the deal signed on December 4. 

AfDB and KCB sign $150m green financing package

The African Development Bank Group and KCB Bank Kenya have entered a $150 million partnership to expand climate-smart investments and green lending in Kenya. The deal includes a $100 million subordinated debt facility to strengthen KCB’s Tier II capital and a $50 million transaction guarantee to cover non-payment risks on letters of credit. The collaboration supports KCB’s commitment to allocate 25% of its portfolio to green initiatives by 2031, targeting renewable energy, infrastructure and agriculture. AfDB East Africa Director General Alex Mubiru praised the partnership as a boost for Africa’s green transition. KCB Managing Director Annastacia Kimtai said the bank aims to deepen its role in financing energy transition, e-mobility and climate adaptation. Last year, KCB issued $402 million in green loans, increasing its green portfolio to 21.32%.

Danish Queen begins three-day state visit to Kenya

Denmark’s Queen Mary arrived in Nairobi on the night of December 9 for a three-day official visit, her second trip to Africa in two months. She was received at Jomo Kenyatta International Airport by Prime Cabinet Secretary and Foreign Affairs Minister Musalia Mudavadi, alongside Tourism and Wildlife Cabinet Secretary Rebecca Miano. During her visit, the Queen will tour conservation projects for endangered species at the coast, inspect waste-management and circular-economy initiatives, and attend meetings at the United Nations Office in Nairobi. The trip aims to strengthen cooperation between Kenya and Denmark in renewable energy, climate action and environmental protection.

Study reveals most homicide victims in Kenya killed by people they knew

A National Crime Research Centre study has found that Kenya recorded more than 1,000 homicides over the past year, with most victims killed by people they knew. Of the 1,011 cases analysed, eight in ten victims had a prior relationship with their attackers. Men were often killed in disputes involving land, cattle rustling, mob justice and alcohol, while women were mostly victims of domestic conflicts and intimate-partner violence. Nairobi recorded the highest number at 80 cases, concentrated in informal settlements such as Starehe, Mathare, Kayole, Embakasi and Kariobangi. Rural counties, including Kilifi, Homa Bay, Narok and Trans-Nzoia, also reported high levels of fatal violence linked to land and inter-communal disputes. The report warns that economic pressures, substance abuse and weakened community support systems are fuelling preventable confrontations.

Kenya launches National Plastics Action Partnership

Kenya has formally joined the Global Plastic Action Partnership (GPAP), establishing the Kenya National Plastics Action Partnership (NPAP Kenya) in a deal presided over by Principal Secretary for Foreign Affairs Korir Sing’Oei on December 10. The collaboration positions Kenya within a 25-country network advancing solutions to plastic pollution affecting more than 1.5 billion people. The partnership aims to accelerate Kenya’s transition to a circular plastics economy, building on the country’s environmental milestones, including the 2017 ban on plastic bags—which eliminated an estimated 6.2 billion bags—and the 2020 prohibition on single-use plastics in protected areas. Kenya has also championed the EAC Single-Use Plastics Bill, which seeks to harmonise environmental regulations across the region to curb cross-border plastic leakage.

Under the plan, denominations such as Rp1,000 would become Rp1, and similar changes would apply to other notes, including Rp2,000, Rp5,000, and up to Rp100,000.

This initiative is part of the Finance Ministry’s 2025–2029 strategic programs. The bill is being developed under Finance Minister Regulation No. 70 of 2025 and is expected to be finalised by 2027. "A bill on Rupiah Rate Change (redenomination) is a carried-over bill planned for completion in 2027," the regulation stated.

The rupiah, which currently trades at around 16,717 per U.S. dollar (as of November 19), has high nominal figures that have led to inefficiencies in budgeting and financial transactions, according to reports .

Redenomination has been under discussion for more than a decade. A 2013 bill was delayed due to economic instability. In 2016 and again in 2023, Bank Indonesia expressed its readiness but indicated the need for an appropriate timing, with BI Governor Perry Warjiyo stating that “its execution must be cautious and consider economic and political stability.”

The transition process would be gradual. According to Bank Indonesia’s 2016 estimates, preparing new notes could take two years, and full implementation could extend up to seven more years. During this period, both old and new banknotes would be in circulation.

Economists have also noted potential inflation risks during the transition, particularly if businesses increase prices through rounding. In 2023, Teuku Rifky, an economist at the Institute for Economic and Social Research at the University of Indonesia, commented that while there were upsides to the redenomination, it was not an urgent issue for the Southeast Asian nation.

 “I don’t think there is a significant advantage in this redenomination, while the need or cost for execution is actually quite large,” he said .

Workers clearing archives for a future Supreme Court Museum in Argentina recently discovered boxes in the basement of the Supreme Court containing Nazi-era materials. The boxes, stored for over 80 years, include swastika-stamped notebooks, propaganda, and documents believed to support the spread of Adolf Hitler’s ideology in Argentina during World War II. According to an official court statement, the contents may provide new information about Nazi activities in the country during the early 1940s.

Fitch upgrades Argentina's credit rating amid economic recovery and IMF support

Fitch Ratings has upgraded Argentina’s long-term foreign currency debt rating from CCC to CCC+, citing rapid economic recovery under President Javier Milei. The decision reflects a new $20 billion agreement with the IMF, including an initial $12 billion disbursement that raised reserves to $38 billion and the implementation of a liberalised exchange rate band between AR$1,000 and AR$1,400 per US dollar. The agency highlighted stronger-than-expected disinflation and credit reactivation. However, it also noted ongoing challenges, such as uncertainty in sustained reserve accumulation and limited access to external financing.

Argentina’s peso trades near official rate as markets respond to fiscal policy

On May 13, Argentina’s blue dollar exchange rate stood at 1,170 ARS/USD, just 1.3% above the official rate of 1,155, reflecting increased investor confidence. The previous day, the official rate closed at 1,150 while the blue dollar declined 0.43% to 1,170. The S&P Merval rose 5.49%, and Argentine equities listed on the NYSE gained 4.79%. Government bonds also advanced slightly. However, market optimism was tempered by corporate debt concerns, notably a $20 million bond default by a utility company. The peso’s relative stability is supported by President Javier Milei’s fiscal measures, including spending controls and export tax reductions. Nevertheless, high—albeit decelerating—inflation and approximately $275 billion in offshore wealth continue to pose risks of capital flight.

Telefonica posts €1.3 billion Q1 loss due to asset write-downs in Peru and Argentina

Spanish telecom company Telefonica (TEF.MC) reported a first-quarter net loss of €1.3 billion ($1.45 billion) on Wednesday, May 14, in line with analyst estimates, following asset write-downs in Peru and Argentina. Analysts had projected a loss of €1.32 billion, according to a company-provided consensus. Revenue declined 2.9% year-on-year to €9.22 billion, slightly exceeding expectations of €9.1 billion. Shares fell 0.4% in early trading.

Argentina’s central bank expects inflation slowdown to continue into May

Argentina’s central bank vice president, Vladimir Werning, stated on Tuesday, May 13, that the deceleration in inflation observed in April is expected to persist through May. The national statistics agency will release official April inflation figures on Wednesday, which will confirm whether this trend aligns with the central bank’s outlook.

A new visualisation from World Visualized reveals the top 10 gold-producing countries, and the data underscores global shifts in mining dominance and strategic reserves.

Top gold producers (in metric tonnes)

“The Hage Geingob commemorative banknote has been thoughtfully crafted to honour Geingob’s unwavering leadership and lifelong dedication to peace, inclusivity, and resilience,” !Gawaxab told reporters.

According to the governor, the banknote recognises the late president’s significant contributions to Namibia and marks the country’s progress under his leadership. “It serves as a symbol of national pride, an educational tool for future generations, and a lasting reminder of the values he so passionately upheld,” he added.

Geingob, who passed away at 82 after a prolonged battle with cancer, held pivotal roles in Namibia’s governance. He served as the nation’s first prime minister from 1990 to 2002, returned to the position from 2012 to 2015, and became president from 2015 until his death on February 4, 2024.

Recent research by  the World Gold Council  reveals significant increases in gold holdings by several countries, reflecting their proactive approach to economic stability. China has emerged as a leading buyer, maintaining a 15-month streak of gold purchases. This move aligns with Beijing's broader efforts to diversify its foreign exchange reserves and reduce reliance on the U.S. dollar. With global trade dynamics shifting and geopolitical risks on the rise, China's aggressive accumulation of gold underscores its commitment to securing its economy against external shocks.

Russia's focus on gold reflects its strategy to shield national wealth from the effects of dollar dependency and international sanctions. The country has prioritized building gold reserves as a way to counterbalance financial risks tied to geopolitical instability. Similarly, Turkey has significantly bolstered its gold reserves in response to domestic currency volatility and high inflation. Turkey is committed to fortifying its economic resilience in an increasingly unpredictable global environment by strengthening its holdings.

India has also made notable strides, adding 264.3 tonnes of gold to its reserves since 2015. As one of the world's fastest-growing economies, India views gold as a stabilizing force, supporting fiscal security while accommodating the demands of its expanding economic landscape. This steady accumulation highlights the Reserve Bank of India's long-term focus on preserving monetary stability.

Gold remains a cornerstone of central banks’ strategies for good reason. As inflation rises and global crises become more frequent, the precious metal offers unparalleled stability. According to the 2024 Central Bank Gold Reserves Survey, 29% of central banks plan to increase their gold holdings in the coming year, marking the highest level of intent recorded since 2018. This growing demand underscores the enduring appeal of gold as a hedge against economic uncertainty.

The surge in gold reserves signals a broader rethinking of how nations manage financial risk. Gold provides a universal safeguard in an era of debt crises, currency devaluations, and political instability. Its intrinsic value, independent of the complexities of fiat currencies, makes it an indispensable asset for central banks aiming to instil confidence in their economies and navigate turbulent times.

As global financial markets remain volatile, central banks are doubling their commitment to gold. The actions of nations like China, Russia, Turkey, and India reflect a growing consensus: in a world of increasing uncertainty, gold stands as a timeless symbol of stability and strength. The global gold rush is more than just a trend—it’s a testament to the enduring importance of tangible assets in preserving economic security.

Ethiopia has discovered 21.3 billion cubic metres of natural gas reserves in the Ogaden region, the eastern portion of Ethiopia and borders Somalia. according to Ethiopian State Minister of Mines, Milion Matheos. The reserves are located in six locations, including Ogaden, Mekele, Metema, South Omo, and Gambella. The country has a $4 billion natural gas production deal with Djibouti and China, but the reserves remain undeveloped, APA News reports.

Foreign banks allowed to set up subsidiaries

Ethiopia has approved a move to liberalise its economy, allowing foreign banks to establish local subsidiaries and foreigners to acquire shares in domestic lenders. The move is part of a broader government plan to open up Ethiopia to foreign investment across various sectors, including banking, telecoms, transportation, and aviation. The draft law requires lawmakers to pass, and foreign bank subsidiaries must include local resident non-shareholder Ethiopians on their boards of directors. The central bank declared in May of last year that it would grant foreign investors five banking licenses in a span of five years, Reuters reports.

Summer voluntarism

Ethiopian government officials are launching a Summer Voluntarism Service to benefit over 50 million Ethiopians.  The campaign, titled "Benevolence and Unity for Ethiopia's Ascendance," aims to promote unity and progress through community service. According to the Ethiopian News Agency , 39 million volunteers are expected to partake in the services which will cover essential businesses like food delivery, education, health support, and tree planting.  "People will engage in these services not through coercion but by their own volition, a testament to the Ethiopian spirit of compassion," Ethiopia’s Women and Social Affairs State Minister Muna Ahmed said.

Coffee farmers cultivate high-yielding varieties

West Guji Zone farmers in Oromia, the largest regional state in Ethiopia are focusing on higher-yielding coffee varieties, according to Oromia Region Administrator Adula Hirbaye. The new coffee varieties, which can yield 12 quintals per hectare, are being replaced by older ones after rigorous training. The region contributes 28% of national coffee supplies and has prepared 2.6 billion coffee nurseries for this year, according to the Ethiopian News Agency . The Oromia region is also preparing 350,000 hectares of land for coffee plantations.

Candidacy to host the Africa Cup of Nations

Ethiopia developed a comprehensive roadmap for its candidacy to host the Africa Cup of Nations (AFCON) football tournament, according to Ethiopia's Minister of Culture and Sports, Kejela Merdasa, who announced the finalisation of the football stadium and other construction sites in line with Confederation of African Football (CAF) standards. The Merdasa revealed that the country plans to build a cultural centre to showcase Ethiopia's diverse stories and cultures and incorporate knowledge from other countries to create a unique facility.

The Turkish government is considering a law that could lead to jail sentences for individuals accused of working under foreign influence. Critics fear that the law could silence NGOs and journalists who are critical of the government. The Hans India reports that the draft legislation is not final and would still need to be approved by parliament. German-Turkish lawmaker Mustafa Yeneroglu described the law as dangerous and susceptible to abuse. There have been protests in neighbouring Georgia against a similar law aimed at limiting foreign influence on non-governmental organisations.

Gas field operations

Trillion Energy has launched an operations programme at the South Akcakoca Sub-Basin (SASB) gas field in the Black Sea, offshore Turkey. This two-month programme will consist of multiple phases. According to Offshore Technology , it will target seven or eight wells, including six drilled last year and others with historical water loading issues. Service contractors have been hired for various tasks, and marine vessels will transport the equipment offshore. In June 2024, the operations will begin with the perforation of 49 meters of gas pay across four wells, followed by the installation of a velocity string in the AKK-3 well.

$226 million Turkish Airlines profit

Turkish Airlines reported a profit of $226 million in the first quarter of 2024, with total revenues reaching $4.77 billion. Total revenues increased by 9.6 percent in January-March, reaching $4.77 billion, with passenger revenue rising 4.8 percent to $3.82 billion. Cargo revenues amounted to $750 million in the first quarter, up 27 percent from the previous year. The net income margin stood at 4.7 percent. According to Daily News , fuel expenses, which made up 32 percent of the carrier's total costs, increased by 4.1 percent to $1.5 billion. Personnel expenses surged by 41.3 percent from the first quarter of last year to $1.03 billion. The company spent $325 million on sales and marketing, a 3.2 percent annual increase.

Interest rate maintained

Turkey's central bank maintained its key interest rate for the second consecutive month on Thursday, despite the country's ongoing struggle with soaring inflation. The bank's monetary policy committee decided to keep the policy rate steady at 50 percent, while remaining highly attentive to inflation risks, according to New Arab . Before the March 31 local elections, the central bank raised its rate from 45 percent to 50 percent as inflation became a persistent issue for President Recep Tayyip Erdogan's government. In April, inflation reached 69.8 percent year-on-year, up from 68.5 percent in March, according to official data released in early May.

Turkey's longest-range radar

Turkey's longest-range radar, the ALP 300-G, has been delivered to the Turkish Armed Forces by ASELSAN. The radar, developed domestically, is a highly strategic product for battlefield and border security. Azer News maintains that the radar is capable of processing a large amount of data and has superior capabilities compared to other radars. ASELSAN aims to become one of the world's largest defence industry companies by 2030, focusing on developing game-changing technologies and export-oriented growth.

According to the Sudan Tribune , in 2015, South Sudan entered into another agreement with QNB outlining a repayment plan for the outstanding loan. The loan was restructured in 2016 and further supplemented in 2018 at South Sudan's request for additional funds, with a repayment period of 15 years commencing in 2019.

Despite these arrangements, South Sudan failed to meet its repayment obligations, leading to QNB initiating legal proceedings against the landlocked nation.

The backdrop of South Sudan's challenges includes a protracted civil war spanning from 2013 to 2020. President Salva Kiir's accusations against former Vice President Riek Machar of an attempted coup triggered the conflict, resulting in approximately 50,000 casualties and displacing 1.6 million people.

Garang noted that the grace period of 45 days provided for all informal currency traders to obtain licenses for their operations had ended, however, he indicated that the bank remained open to receiving clients willing to comply with registration requirements.

"Informal forex trading without proper authorisation is now deemed illegal in South Sudan. We have taken all necessary regulatory steps, and henceforth, any sale of foreign currency without a license will be unlawful," Garang told reporters .

The crackdown on illegal forex trading marks the final efforts initiated by the Bank of South Sudan earlier this year.

In February, the bank issued a notice urging unauthorised forex dealers to register formally as currency exchange agents and adhere to relevant laws.

"We have done everything in our power as the regulator. From today onwards, unauthorised selling of foreign currency is prohibited. We expect transactions to take place within licensed premises, similar to other legitimate businesses," Garang added.

The practice of open street forex trading has been prevalent in South Sudan since gaining independence from Sudan in 2011. However, the central bank has been proactive in enforcing regulations to formalise the sector and ensure compliance with legal requirements.

In November 2023, the central bank mandated all informal currency traders to obtain licenses, requiring a $50 registration fee and a $1,000 capita l deposit to maintain operations.

Meanwhile, the exchange rate between the South Sudanese Pound (SSP) and the US Dollar (USD) stood at 130.26 SSP per 1 USD as of April 5, 2024.

Nigeria defeated Ghana 2-1 in a friendly match , showcasing resilience and determination on both sides. Despite being down to 10 men, Ghana put up a strong fight, but ultimately Nigeria secured the win with a penalty and a late goal. Nigeria's upcoming match against Mali and Ghana's upcoming match against Uganda are highly anticipated, promising further competitive football action.

Power outages

The Independent Power Generators, Ghana (IPGG) has accused the Volta River Authority (VRA), the main generator and supplier of electricity in Ghana of excessively exporting electricity to neighbouring countries, causing power outages. The IPGG's CEO, Dr Elikplim Kwabla Apetorgbor, argues that the VRA is not meeting its domestic obligations and is exporting the most affordable hydro generation to neighbouring countries. “It is a great disservice to mother Ghana and Ghanaians for VRA to be exporting the most affordable hydro generation to neighbouring countries – Burkina Faso, Togo and Benin whilst the Ministry of Energy, PURC [Public Utilities Regulator Commission] and ECG [Electricity Company of Ghana] remain unconcerned and force the Ghanaian taxpayers pay for the expensive thermal generation and also sleep in the dark”, Apetorgbor is quoted by local media Adom Online .

Medal haul at African Games

Ghana won 68 medals at the African Games, the largest haul in the West African nation's history after hosting the sports event in its capital city, Accra. Ghana's President Nana Akufo-Addo praised Ghanaians for their confidence in hosting the 13th African Games. “Let the success of these games serve as a catalyst to invest further in sports development and empower the youth to reach greater heights on the international stage. Our nation won a total of 68 medals - 19 gold, 29 silver, and 20 bronze - by far the largest haul in our nation’s history at this prestigious event,” said the president in a congratulatory message on March 23, local media Joy Online reported.

Public debt soars

Ghana's public debt reached GH₵610 billion (approximately $49.952 billion) as of December 2023, a 26.85% increase from the previous year’s GH₵446.3 billion (approximately $34.352 billion), indicating a significant debt burden. This represents 72.5% of the country's GDP. Despite the nation’s domestic debt exchange program, Ghana's year-to-date public debt level soared by GH₵163.7 billion (approximately $12.6 billion), according to the Bank of Ghana (BoG). Positively, there was an increase in Ghana's Nominal GDP from GH₵614.3 billion (approximately $ 47.283 billion) to GH₵841.6 billion (approximately $ 64.779 billion) indicating a rise in the nation's total economic production, local media Daily Guide Network reports.

Calls to host World Rugby tournaments

Rugby Africa President Herbert Mensah believes Ghana should host future World Rugby competitions due to its potential to become a destination for prominent international sporting events. He emphasized Ghana's state-of-the-art rugby stadium at the University of Ghana Rugby Stadium in Accra. "As President of Rugby Africa, I’m going to my board, I’m also on the Council for World Rugby, that Ghana should be considered as a place where we should be staging world competitions if we can keep the maintenance up. If we can bring World Rugby competitions here, at least 2 or perhaps 3," Mensah is quoted by local media Peace Online .

The document withheld additional information on its implementation and other specifics. “This document is set to be offered for public discussion soon before receiving official approval to enter into force,” the government document read.

Between 2016 and 2022, 42.3 million out of the 65.4 million Egyptians aged 16 and over were financially included and owned transactional accounts in bank accounts, Egypt Post accounts, mobile wallets, and prepaid cards. This reflected an increase of 147% with prepaid cards and mobile e-wallets driving the increase, the CBE reported

According to the 2023 McKinsey Global Payment , in 2022 there was a nearly four percentage point global fall in the use of cash. The growth rate of electronic transactions over the last five years has been almost three times higher than the growth rate of payments revenue overall. It is anticipated that developing countries that rely heavily on cash will undergo further substantial changes towards instant payments by 2027.

The Central Bank of Egypt has instructed banks to apply a minimum interest rate of 24% on loans to protect bank deposits from the negative impact of high-yield certificate of deposits (CDs) issued by the National Bank of Egypt (NBE) and leading banking institution Banque Misr, local media Ahram Online reports. The new CDs have annual yields exceeding Egypt’s current borrowing interest rates, prompting asset-liability committees to consider re-pricing their offerings based on market rates.

Free surgeries initiative

The Egyptian government has announced that since the presidential initiative to remove waiting lists in the North African country, 67,028 free surgeries have been carried out. The effort was started to reduce the burden on citizens and enhance their general health across all age groups. According to local media Akhbar El Yom , 25,457 free procedures in a range of specialisations, including eye, brain, and nerve surgeries, were completed in the last year. The undersecretary of the Ministry of Health in Minya, a city located south of Cairo has said that 21 hospitals in Minya carried out the programme.

Documentation of refugees

Mostafa Madbouly, the prime minister of Egypt, has stressed the importance of recording the 8–9 million refugees and immigrants from 133 different countries that reside in the country. The average age of the population of refugees, according to the Egyptian Minister of Health and Population Khaled Abdel-Ghaffar, is 35 years old, with 50.4% of them being men and 49.6% being women. According to Ahram Online , 60% of refugees have lived in Egypt for ten years, and 6% have assimilated into Egyptian society in the last fifteen years.

Export of trained Egyptian workers

Egypt's prime minister, Mostafa Madbouly, has established a working committee to create an integrated action plan for exporting cadres and trained Egyptian workers, local media Al-Masry Al-Youm reports. According to Al-Masry Al-Youm, the prime minister at a ministerial meeting on January 9 spoke about the necessity of technical credentials and specialised training programmes to hone abilities and grant required permits for their employment overseas.

Improving conditions of citizens

President Abdel Fattah El Sisi has ordered a rise in spending on sustainable employment and bettering the living conditions of the citizens, according to Mohamed Maeet, the minister of finance in Egypt. “The state is keen on continuing the implementation of decent Life initiative to improve the living conditions of 60% of the Egyptians living in the countryside,” Maeet is quoted by the State Information Service . The guidelines also sought to lessen the financial constraints on the citizens by increasing pensions and public employee compensation in the new fiscal year 2024–2025 budget, the State Information Service reports.