A rally at the Uganda Clays Ltd (UCL) counter since October has worn off as speculation eases over anticipated compensation for lost deposits affected by a road project and conclusion of a debt-to-equity deal by the National Social Security Fund (NSSF). The company’s share price gained 60 per cent in two weeks last month on […]
For long, commercial bank lending rates have averaged at 21.37 percent, going as high as 23.13 percent in February 2017 and as low as 18.97 percent recorded in October 2017. The Central Bank Rate (CBR) fell drastically by over 20 percent to 9.5 percent from 12 percent recorded at the start of 2017 in a […]
Without breaking a sweat, the customs department at Uganda Revenue Authority (URA) is guaranteed of slightly more than a trillion shillings ($280m) in revenue from companies it has enrolled in the Authorised Economic Operator (AEO) programme. The AEO is generally a trade facilitation initiative which the tax body uses to ease trade by simplifying and […]
When a woman rises to the top rung of the traditionally all-male corporate ladder in Africa, it’s front-page news because women’s progress in business leadership on the continent continues to be achingly slow. According to a groundbreaking 2015 study by the African Development Bank (AfDB) titled Where Are the Women? Inclusive Boardrooms in Africa’s Top-Listed […]
WASHINGTON, Nov 24, CMC – A new study has shown that Latin America and the Caribbean boasts higher clean energy penetration than any other region assessed. “As of year-end 2014, 11 per cent of the 352 GW (gigawatts) installed there is from biomass, wind, small hydro, solar, and geothermal projects. When large hydro plants are […]
Lagos — Oando Plc has listed N48.7 billion worth of shares on the daily official list of the Nigerian Stock Exchange (NSE). In an issuer’s announcement with the NSE, Oando said: “A total of 2,949,933,156 ordinary shares of 50 kobo each at N16.50 per share belonging to Oando Plc were admitted to trading on 4th […]
Australian based online employment marketplace, Seek announced its USD 10 million (Sh900 million) investment into One African Media (OAM). This investment is part of USD 20 million that OAM shared with Babajob.com, its first investment in the Indian market, which Seek diluted 38 per cent of the equity interest. OAM owns BrighterMonday, Cheki.com, BuyRent and […]
East Africa’s first utility-scale solar photovoltaic power plant came online this week in Rwanda. The 8.5 MW Rwanda Field plant was constructed in the shape of the African continent and sits on land owned by the Agahozo-Shalom Youth Village charity, which houses Rwanda’s orphaned children. It is expected to produce enough power for 15,000 households. […]
Reuters/Mohammed Nureldin Abdallah – Young men work at a collection point for used oil in the capital Khartoum, October 29, 2014. Luck has struck the region of East Africa: for a couple of years now, new announcements of natural resource discoveries are being made every few months. Mozambique has found some of the largest natural […]
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