East African Business Notifier

  BY PAUL TENTENA How can the Congo Basin, the world ’ s second-largest tropical rainforest, be transformed into a powerful driver of industrialization, value addition and regional economic integration? This is the challenge that needs to be addressed by all stakeholders on the sustainable industrialization of Central Africa's timber value chain . Central Africa is home to one of the world ’ s most significant forest ecosystems. According to the OECD, the Congo Basin accounts for 70 per cent of Africa's tropical rainforest cover and nearly 800,000 square kilometres of protected areas. Yet this exceptional natural capital remains largely underutilized from an industrial perspective. While the subregion supplies 20 per cent of global tropical log exports, it contributes only 1 per cent of global sawn timber production, highlighting limited domestic processing, insufficient value addition and significant untapped potential for industrial employment and competitiveness. T...

Representatives of the COP30 and COP31 Presidencies joined ministers and senior officials from forest and donor countries to accelerate action on forests through 2030, alongside new initiatives on forest finance and commitments on land tenure.   Peru  formally announced its endorsement of the Intergovernmental Land Tenure Commitment (ILTC) and   Brazil  unveiled new measures to strengthen land tenure rights. The gathering underscored the growing importance of forests across the international climate agenda, bringing together representatives from multiple COP cycles to discuss how political leadership, finance, and implementation can help deliver the goal of halting and reversing forest loss by 2030.  The event, From Glasgow to Addis Ababa: FCLP and COP Presidencies Building Momentum on Forests from COP30 to COP31, focused on maintaining forests as a prio...

Merck Foundation , the philanthropic arm of Merck KGaA Germany, has conducted the   13 th  Edition of Merck Foundation Africa Asia Luminary 2026   through an online videoconference.   The annual conference was inaugurated by   Prof. Dr. Frank Stangenberg-Haverkamp, Chairman of Merck Foundation Board of Trustees , and   Dr. Rasha Kelej, CEO of Merck Foundation and Chairperson of Merck Foundation Africa Asia Luminary  along with   The First Ladies of 12 African and Asian countries , who joined as the   Guests of Honor   and   Keynote Speakers. Senator Dr. Rasha Kelej (Ret.), CEO of Merck Foundation, President of “More Than a Mother”  and Chairperson of Merck Foundation Africa Asia Luminary said that it was a great privilege to welcome distinguished Guests of Honor and Keynote Speakers, The First Ladies of Africa and Asia, who are the Ambassadors of our ‘More Than a Mother’ campaign to the 13 th ...

  The African Union has said that following consultations with the Government of Egypt, the African Union Commission and other key stakeholders, a decision has been taken to  postpone the African Union Mid-Year Coordination Meeting and the inaugural Alamein Africa Forum , which were scheduled to take place in Alamein, Egypt, between the 25–27 June 2026. This decision the body said was made in light of the evolving public health situation in the continent especially Ebola outbreak in DR Congo and Ugand, and reflects the collective commitment of the organisers and participating institutions to host an inclusive, continent-wide event, whilst also safeguarding the health, safety and wellbeing of delegates, government officials, business leaders and partners from across Africa and around the world. "New dates will be announced in due course following further consultations with participating governments and partner institutions. "We would like to express our sincere appreciation fo...

Standard Chartered Bank Uganda and Absa Bank Uganda Limited have received regulatory approval from the Bank of Uganda for Standard Chartered Bank Uganda Limited to sale its Wealth and Retail Banking (WRB) business to Absa Bank Uganda Limited.  The approval marks an important milestone for Uganda’s banking sector and reflects continued confidence in the strength, stability, and regulatory oversight of the country’s financial system. It also reinforces Absa’s position as a well-capitalised financial institution with a strong governance framework and a long-term commitment to the Ugandan market. Sanjay Rughani, CEO & Managing Director, Standard Chartered Uganda, added: “This approval is a testament to the strength and vital contribution of both banking institutions to the banking industry.   This decision reflects our continued commitment to align our operations with the Standard Chartered’s  global strategy, focusing on our core strengths in Corporate & Investment B...

Şebnem Kalemli-Özcan TOKYO—As G7 finance ministers were meeting in Paris this month, the bond market was telling us what their official communiqués would not. The  30-year US Treasury yield  touched 5.2% on May 19—the highest rate since 2007—while  Germany’s 10-year Bund  hit a 15-year high and the  30-year Japanese government bond  set a fresh record of its own. These movements came after the US Federal Reserve decided, in April, to hold rates at 3.5–3.75%, with the Federal Open Market Committee  more divided  than it has been in three decades.  Across the Atlantic, markets put the odds of a European Central Bank rate hike by December at  85% . After five years of being told that inflation was transitory, then conquered, then transitory again, investors have concluded otherwise. Monetary policy is operating in a new environment, under conditions that are fundamentally different from those in which modern inflation targeting was designed...