Author: Muindi

MoneyGram has introduced MGUSD, a dollar-backed stablecoin designed to power its global payments network and eventually serve its 60 million active customers. The stablecoin launches first in the United States, where it will handle treasury management, settlement and currency trading. A global rollout follows later this year. Built for people, not crypto traders MGUSD targets a different user than most stablecoins. Rather than serving crypto traders or institutional desks, MoneyGram built it for families sending money across borders and the estimated billions of people with limited access to formal financial services. In markets where local currencies lose value or banking…

One theme runs through every market this week: the cost of being connected to a disrupted world. Here is what every East African decision-maker needs before the market opens. THE MACRO FRAME    The Strait of Hormuz crisis is hitting fertiliser, fuel, and food prices from Bujumbura to Addis Ababa. Against that, the region’s own story — digital finance acceleration, banking consolidation, mineral wealth, and trade integration — is arguably the strongest counter-narrative in global emerging markets right now. Kenya  KEY NUMBERS INDICATOR VALUE NOTE Exchange Rate KES 129.55 / USD Stable vs historic 2023–24 depreciations Inflation (Apr) 5.59% EPRA…

Domestic workers in Kenya will take home more money each month after the Ministry of Labour gazetted new minimum wage rates, raising pay across all categories by 12 per cent with immediate effect. Labour Cabinet Secretary Alfred Mutua issued the revised rates through a legal notice, acting on President William Ruto’s directive at this year’s Labour Day celebrations in Vihiga County on 1 May 2026. What the new rates mean Workers employed in Nairobi, Mombasa, Kisumu, Nakuru and Eldoret now earn a minimum monthly salary of Ksh18,047, up from Ksh16,113 under the 2024 wage order. Those working in former municipalities…

Pan-African lender Ecobank Transnational has listed the world’s first ICMA-designated commercial bank Nature Bond on the London Stock Exchange, raising $450 million to channel international capital into African biodiversity protection for the first time at scale. A bond built on four years of groundwork Priced on 14 May and settled on 19 May 2026, the 10.25-year Tier 2 instrument carries a call option after 5.25 years. Investor appetite proved far stronger than anticipated. The final orderbook reached $1.36 billion — nearly four times the original $350 million target — allowing Ecobank to increase the offering by $100 million and tighten…

The International Trade Centre and Equity Group Holdings have signed a memorandum of understanding to build commercially viable trade ecosystems across East Africa, starting in Kenya with three sectors that punch below their weight: coffee, leather and the creative industries. The partnership pairs ITC’s global trade development expertise with Equity Group’s pan-African financial reach across Kenya, the Democratic Republic of Congo, Rwanda, South Sudan, Uganda and Tanzania. It runs through a Kenya pilot until December 2026, with a broader East African rollout planned from 2027. Why These Three Sectors Each sector carries unrealised export potential that better financing, skills and…

Fifteen years after Kenya shut its border with Somalia, it remains closed. President William Ruto says two forces stand in the way: a shortage of international funding and a deepening political fracture inside Somalia that no one has yet managed to close. Speaking in Wajir County after Madaraka Day celebrations on June 1, Ruto acknowledged that he had expected to move faster. “I really thought I would have opened those borders by now. But unfortunately, there is always a delicate balance between security and commerce,” he said. The Cost Kenya Has Absorbed Alone Kenya’s deployment of the Kenya Defence Forces…