Somalia joins the East African trade bloc
Although Somalia submitted its application in 2012, it took 11 years to grant its request due to lingering security concerns.
Kenya
IMF expands Kenya’s financing package to $938 million
The additional funding will strengthen the country’s reserves before its $2 billion Eurobond payment in June.
Kenya to host PAPSS, an African cross-border payment infrastructure
PAPSS allows African traders to settle deals using their respective national currencies.
Exclusive: Kenyan lawmakers task lobby group to draft crypto bill
The National Assembly’s Departmental Committee on Finance and National Planning has directed the Blockchain Association of Kenya to prepare the first draft of what could become a virtual asset service provider’s bill.
Kenya government to launch digital identification by December
It is unknown what technology the digital ID project is built on. The previous project, Huduma Namba, was built on blockchain.
Kenyan shilling slumps to a record low of 150 to dollar
According to the CBK Governor, Kamau Thugge, the shilling has been overvalued for several years.
Worldcoin starts paying its orb operators in WLD instead of USDC
The company expects all of its operators to be paid exclusively in WLD in November.