East Africa in August 2026: the most important developments in economy
In August 2026, East African nations were offered a 30 percent share of Dangote's mega-refinery in Kenya, the most covered economic story in East Africa. On August 22, Egypt's prime minister, Mostafa Madbouly, and Tanzania's president, Samia Suluhu Hassan, inaugurated the Julius Nyerere Hydropower Station and Dam in Tanzania. Tanzania also eased foreign exchange rules to allow all foreigners to buy government debt.
In Kenya, Safaricom halved its M-Pesa merchant fees in a move led by the central bank on August 2. Reports pointed to a costly maintenance problem after the country's infrastructure expansion, and on August 27 to a shortfall in the maize harvest. The government presented Kenya's economic recovery through the example of soda prices. In Uganda, Stack Carbon signed a major carbon credits deal on August 3, and on August 10 the country's oil project was reported to pose a threat to the shared wetlands of Lake Victoria. Nedbank considered rolling out iKhokha in southern and East Africa.
by WorldBrief & Maksim Micheliov | AI-generated summary
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