East Africa in May 2026: the most important developments in economy
In East Africa in May 2026, fuel prices and energy dominated economic news. A transport strike in Kenya over fuel price increases was called off around 19 May. Kenya's foreign-exchange reserves slid, and the country faced the prospect of grey-listing. In Malawi an oil shortage deepened as fuel shortages spread, and an expert said East Africa's uneven fuel pricing exposes the region to global shocks. A Microsoft AI data centre in Kenya was reported to be consuming half of the country's electricity.
Investment announcements centred on Kenya. At a summit there on 11 May, French President Emmanuel Macron announced a 23 billion euro investment package for Africa, covering infrastructure, energy and digital projects with an emphasis on clean energy. France was reported to have become Kenya's fourth-largest investor. Nigerian billionaire Aliko Dangote was reported to favour Kenya's Mombasa port over Tanzania's Tanga for a refinery project worth 2 trillion shillings.
Elsewhere, Zambia pushed back on a US health deal amid a dispute over minerals, while a US envoy said US aid to Zambia is not tied to critical minerals. Zambia also revived a textile factory with help from China and formed a gold venture to formalize mining and build processing capacity. In Tanzania, Air Tanzania received approval for flights to Moscow, and the World Bank Group described how digitalization is changing public procurement.
by WorldBrief & Maksim Micheliov | AI-generated summary
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