This week’s Mwango Weekly highlighted improving macro-financial stability in Kenya following Moody’s upgrade of the sovereign rating to B3, driven by stronger external liquidity, smoother refinancing profiles, and greater exchange-rate stability, even as debt affordability remains a key structural constraint. On the corporate front, EABL delivered strong H1 FY2025/26 earnings supported by volume growth, lower finance costs, and improved cash generation, while legal challenges continue to cloud Diageo’s proposed stake sale. Safaricom Ethiopia reported robust revenue and ARPU growth, underpinned by rising voice usage and expanding infrastructure, as regulatory changes reshaped network-sharing economics. Financial markets recorded modest equity gains, heavy demand for government securities, and easing Eurobond yields, while regional banking results, regulatory actions, and policy developments reinforced themes of stabilization, selective growth, and ongoing balance-sheet discipline across East Africa