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Russian President Vladimir Putin plans to remove Sergei Shoigu as defence minister as part of a cabinet reshuffle, making him secretary of the Security Council instead. The Kremlin says Andrei Belousov, a former deputy prime minister who specialises in economics, will become the new defence minister. Kremlin spokesman Dmitry Peskov says that Putin had decided to give the defence portfolio to a civilian because the ministry should be “open to innovation and cutting-edge ideas” and Belousov was the right fit for the job.

Plans to introduce new taxes and increase existing ones have triggered widespread criticism in Kenya. The price of bread is set to climb after the national treasury proposed removing the staple product from a value-added tax exemption list. The costs of mobile money transfers, airtime and data are also set to go up as the government seeks to raise an additional $2.4bn in taxes, in the financial year that starts in July. The government also proposed a new motor vehicle tax that will see drivers pay up to $750 annually to keep their vehicles on the road. The tax hikes are part of a series of financial measures introduced by President William Ruto's government to fund its extensive infrastructure and social programmes.

Egypt says it will formally join the case filed by South Africa against Israel at the International Court of Justice (ICJ), which accuses Israel of violating its obligations under the Genocide Convention in its war on the Gaza Strip. The Egyptian Ministry of Foreign Affairs says that Cairo intended to join the case due to escalating Israeli aggression against Palestinian civilians. South Africa brought its case against Israel in January, accusing the country of committing genocide against Palestinians in Gaza. The death toll from Israel’s war on Gaza, which began in October, has surpassed 35,000, and most of the dead are women and children, according to Palestinian authorities.

Rwanda's government has denied accusations that it armed a rebel group alleged to have carried out a grenade attack in Burundi's economic hub, Bujumbura. Pierre Nkurikiye, the spokesperson for Burundi's interior ministry says at least 38 people were injured in Friday's attack. Rwanda's government dismissed the allegations saying it has absolutely no connection" with the attack and had no reason to be involved in it. Red Tabara, the group accused of executing the grenade attack, has also denied responsibility, saying it does not attack innocent civilians. Rwanda's relationships with neighbouring nations Burundi and the Democratic Republic of Congo have become strained in recent years.

The Head of the Directorate of Valuation Standards, Financial Reporting Council of Nigeria, Ugochukwu Nwora, says that the council has assembled relevant professionals to produce valuation regulations for the country. He says this regulation will be the first of its kind in Nigeria and the council will showcase the exposure draft to the public before launching it in July and the valuation regulations will guide all professional valuers and firms in Nigeria. Nwora noted that the FRC would standardise and regulate submissions, ensuring consistency and adherence to asset valuation standards.

The International Monetary Fund has warned the Nigerian government to remove what it called implicit fuel and electricity subsidies. The organisation told Nigeria that the subsidies would guzzle three per cent of the nation’s Gross Domestic Product in 2024 as against one per cent in the year before. The IMF commended the Federal Government for, among other things, phasing out costly and regressive energy subsidies”, saying this was critical to creating fiscal space for development spending and strengthening social protection while maintaining debt sustainability. IMF noted, however, that “adequate compensatory measures for the poor were not scaled up promptly and subsequently paused over corruption concerns.