Kenya has forfeited African Development Bank (AfDB) shares worth approximately $92 million after failing to make its annual subscription payment. This development comes at a time when Kenya’s borrowing from the bank has risen significantly, raising concerns that the loss will severely weaken its clout and influence in the bank’s governance and decision-making processes.

According to the bank’s official disclosures, the Kenyan National Treasury failed to complete an annual subscription of roughly $10 million. As a result, the country’s ownership stake fell to 1.034% at the end of 2025, down from 1.16% a year earlier. Consequently, Kenya lost 6,715 shares, which other member states can now absorb.

 Because member states are only required to pay a small fraction of a holding’s value upfront—with the remainder held as a callable commitment—missing this relatively small payment cost Kenya a disproportionately large block of shares.

Experts, policymakers, and financial practitioners from across African Island States will gather in Mombasa on 12–13 June 2026 for a high-level workshop to enhance sovereign credit ratings and unlock access to sustainable climate and blue economy financing.

Jointly organized by the Economic Commission for Africa (ECA) and the African Island States Coordination Committee (AISCC) under the theme “Unlocking pathways to resilience: reframing risk and enhancing credit ratings for sustainable financing in African Island States”, the workshop will provide a platform to strengthen capacities in credit rating analysis, resource mobilization, and climate finance integration. It will be organised as a side event to Our Ocean Conference, scheduled for 16-18 June.

African Island States face a unique combination of structural constraints, including small domestic markets, geographic isolation, and heightened exposure to external shocks and climate risks. These factors significantly influence sovereign credit ratings. These, in turn, determine the cost of borrowing and access to global capital markets and innovative financing instruments such as climate and blue bonds.

The International Air Transport Association (IATA) and the International Civil Aviation Organization (ICAO) announced enhanced cooperation at ICAO Aviation Climate Week today to advance transparency and integrity in tracking progress and accelerating the development and deployment of Sustainable Aviation Fuels (SAF).

Close collaboration between industry and states, underpinned by robust systems and high-quality data, will aim to enable transparent and credible tracking of aviation cleaner energies and their contribution towards net zero carbon emissions by 2050, in alignment with the respective IATA and ICAO ambitions and commitments. 

Both organizations agreed to explore how SAF registries and the data they collect can support the implementation of the ICAO Long-Term Aspirational Goal (LTAG) Monitoring and Reporting (LMR) methodology, as well as the consideration of fuel accounting systems for international aviation. 

“Credible tracking is necessary to know the emissions reductions delivered by SAF. The data collected by the CADO SAF Registry, among others, has the potential to meet this need. By working with ICAO to strengthen how progress on SAF use is measured and reported, we can accelerate deployment, build trust across stakeholders, and put aviation on track for net zero by 2050. This will set a great example for individual states to work with industry to make the most of the SAF data that is being accumulated,” said Willie Walsh, IATA’s Director General. 

 (Nairobi/Geneva) – The International Trade Centre (ITC) and Equity Group Holdings PLC signed a memorandum of understanding to drive inclusive, commercially viable economic development across East Africa, starting with Kenya. The agreement targets three high-potential sectors: coffee, leather and creative industries, with an explicit mandate to scale.

The deal pairs ITC’s global trade development expertise with Equity Group’s pan-African financial infrastructure and its Africa Recovery and Resilience Plan (ARRP), a six-pillar regional growth strategy spanning food and agriculture, manufacturing, micro, small and medium-sized enterprises (MSMEs), technology and social impact investments.

Equity Group operates banking subsidiaries in the Democratic Republic of Congo, Kenya, Rwanda, South Sudan, Uganda and the United Republic of Tanzania.

ITC Executive Director Pamela Coke-Hamilton said: “We know that access to finance is critical for small businesses – but it has to be matched with the right skills to use it effectively. That’s why we’re partnering with Equity Bank – to ensure small businesses across East Africa can tap both financing and trade expertise to move up the value chain and compete in global markets, from leather to the creative industries.”