The East African Community (EAC) has officially resumed efforts to integrate regional capital markets, a crucial step towards establishing the East African Monetary Union.

• The EAC Capital Markets Sub-Committee held its first meeting since 2019, bringing together key stakeholders.
• CEOs and senior officials from securities exchanges, regulators, and central securities depositories across EAC Partner States participated.
• The integration process will focus on regulatory harmonisation, market development, new financial products, and linking financial market infrastructure across the region.

International Monetary Fund (IMF) Managing Director Kristalina Georgieva stated the global economy faces significant risks, including stubborn inflation and rising debt servicing costs, despite proving more resilient than anticipated.

• The world economy is expected to hover around 3 percent growth, which Georgieva described as a "massive achievement."
• Key risks identified include persistent inflation, increased debt service costs, and potential shocks from artificial intelligence (AI) investment, particularly concentrated in the United States.
• Georgieva cautioned that "uncertainty is the new normal" and urged careful navigation of the challenging economic landscape.

Kenya is defending its local oil marketers against accusations from Uganda that they inflated fuel costs through a Government-to-Government (G-to-G) deal.

• Uganda President Yoweri Museveni claimed Kenyan middlemen exploited the G-to-G deal, leading to higher fuel prices in Kampala.
• Energy and Petroleum Cabinet Secretary Opiyo Wandayi stated that the Gulf oil majors supplying Kenya selected the local firms, and Kenya's insistence on nominating companies would have jeopardized the deal.
• Uganda ceased its reliance on Kenya's G-to-G deal in 2024, opting for a similar agreement with Vitol Bahrain, while Kenya's deal involves Aramco Trading Fujairah FZE, ADNOC Global Trading Ltd, and ENOC.