East Africa in January 2026: the most important developments in economy
East Africa's economy in January 2026 was dominated by Kenya's planned sale of the state's Safaricom stake. Parliament opened an inquiry into the sale on 12 January, and Safaricom chief executive Peter Ndegwa appeared before lawmakers on 19 January. The Institute of Certified Public Accountants of Kenya and telecom companies said the price of Sh34 was too low, the Auditor-General flagged a risk in the payout deal, and the Law Society of Kenya asked Parliament to reject the sale of the 15 percent stake. MP Ndindi Nyoro told a parliamentary committee the shares were undervalued by Sh150 billion. The sale to Vodacom is valued at between Sh204 billion and Sh244 billion; on 28 January a petition was filed to block it. Kenya also planned a share sale in its pipeline company.
Uganda imposed an internet shutdown during its election, which disrupted cargo movement at Mombasa port and slowed trade across the border. Uganda's debt crisis deepened ahead of the vote. Mozambique's large gas project resumed on 29 January after a five-year pause. Zambia's kwacha was the world's best-performing currency, and Malawi raised fuel prices by more than 40 percent on 20 January. South Africa's Nedbank agreed to buy a majority stake in Kenya's NCBA for $856 million.
China featured in a series of deals. Kenya concluded a trade agreement with China and expects export growth, and a Kenya-China agreement covers upgrades at five county hospitals. In Tanzania, China backed a plan to double exports by 2030, the two countries set out to revitalize a historic railway, and BYD opened its first brand centre. On Zanzibar, a flyover built by a Chinese company opened.
by WorldBrief & Maksim Micheliov | AI-generated summary
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