The International Finance Corporation (IFC) is set to lend Kikuyu-based pharmaceutical manufacturer Universal Corporation Limited $10m to help increase its output and introduce new products. Universal manufactures over 100 formulations including tablets, capsules, syrups, suspensions, ointments and creams. “The proposed IFC investment is a loan of up to $10 million (Sh1 billion) which is to […]
East African Community (EAC) Partner States and stakeholders met in Kigali last week to make final recommendations for the region’s harmonised pesticide management guidelines. They say existing systems of handling pest products at individual country levels are weak. EAC member countries currently have different policies regarding handling of farm inputs like fertilisers, agrochemicals and pesticides. […]
Rwanda turns to mediation to reduce backlog in commercial court.
Egyptian investors have expressed interest in exploring business opportunities in Rwanda’s construction, agro-business, renewable energy and textile sectors. The business operators, under the Federation of Egyptian Industries, also want to invest in pharmaceuticals and making of packaging materials. The Egyptians were yesterday meeting Rwandan private sector players in Kigali, where they also agreed to form […]
The Kenyan no frills airline Jambojet to make the most of inflight advertising as a way to generate revenue and reverse losses
Kenya’s food imports jumped 58.33 per cent in January compared to a year earlier, reflecting last year’s deficit in production as a result of poor rainfall. The country’s food import bill shot to Sh20.9 billion from Sh13.2 billion in January 2017, fresh data by the Kenya national Bureau of Statistics shows. “Imports of food and […]
Financial technology (fintech) investors are calling for policies that promote development and adoption of innovations to help the continent achieve the World Bank target of universal financial access by 2020. Financial experts, industry leaders and policy developers who attended the Africa Payments Innovation Summit in Nairobi last week said digital disruption could increase the continent’s […]
Bank of Tanzania (BoT) has pushed back the adoption of interest rate based monetary policy to May from this month. The BoT Deputy Governor, Financial Stability and Deepening, Dr Bernard Kibesse said they failed to adopt the policy as it waits approval from Monetary Committee Board that normally meets after every two months. “Everything is […]
The retailer had in December postponed its AGM from December 20, 2017, to a later date ostensibly to allow negotiations with a potential investor who was to pump Sh3.5 billion in Uchumi as part of a turnaround plan/FILE The retailer had in December postponed its AGM from December 20, 2017, to a later date ostensibly […]
Stanbic Bank’s Purchase Managers Index (PMI) posted 51.1% growth in February down from 52% in the previous year, signaling a moderate improvement in business conditions in the private sector. Commenting on February’s survey finding, Jibran Qureshi, Regional Economist East Africa at Stanbic said, “business conditions in Uganda’s private sector continued to improve, albeit at a […]
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