The Hustler Fund in Kenya has reached a significant milestone, disbursing Sh90 billion to over 28 million borrowers since its inception.

• Sh90 billion disbursed to 28 million borrowers.
• Cooperatives and MSME Development Cabinet Secretary Wycliffe Oparanya briefed President William Ruto on the fund's performance.
• The fund has seen strong repeat borrowing, with 10 million borrowers returning for additional loans and 4.5 million achieving improved credit scores, alongside Sh7 billion in savings.

China has approved Standard Bank Group and the Industrial and Commercial Bank of China (ICBC) to operate Africa’s first Renminbi (RMB) clearing hub, aiming to streamline trade and payments between China and African nations.

• The hub will facilitate direct transactions in Chinese yuan, bypassing the US dollar for international trade.
• Key figures involved include Standard Bank Group and the Industrial and Commercial Bank of China (ICBC).
• This initiative is expected to significantly lower transaction costs for businesses, particularly impacting countries like Kenya, which imports heavily from China.

KCB Bank Kenya has secured a significant financing facility of Sh12.9 billion from the European Bank for Reconstruction and Development (EBRD).