Customers at a mobile money transfer services outlet. PHOTO | FILE Findings from FinScope Tanzania indicate that one of the main drivers of access to financial services in Tanzania has been the take-up of digital financial services which require mobile phone ownership, a registered mobile money wallet or access through a third-party. Dar es Salaam. […]
Kampala — Bank of Uganda (BoU) has reduced the duration of clearing cheques from four to two days. In text messages sent out to Barclays customers last week, the bank informed its clients that "from April 20 [last Friday] local cheques clearing will take two days," a shift from the old system where an in-house […]
Somalia’s finance minister said the country is winning in its effort to get the trust of international financial institutions and could receive debt relief as early as next year. Abdirahman Duale Beileh, who participated in the spring meeting of the International Monetary Fund (IMF) and World Bank last week in Washington, said Somalia has “passed […]
Uganda is set to host the Inter-Governmental Authority on Development (Igad) meeting to discuss the free movement of South Sudanese, including refugees, in the eight-nation regional bloc. The two-day consultative meeting on the Protocol on Free Movement of Persons is scheduled for Tuesday, April 24 through April 26 at Sheraton Kampala Hotel. It will be […]
Chinese firm Tibet Hima lost a court battle to keep its 25-year mining lease in Kilembe Mines. FILE PHOTO | NATION Chinese firm Tibet Hima has lost a battle to keep its 25-year mining lease for copper and cobalt deposits in Kilembe mines in Kasese, western Uganda. This is the second Chinese company to lose […]
Workers offload bags of fertilisers at the National Cereals and Produce Board, Eldoret. Tanzania plans to put up a fertiliser factory. PHOTO | JARED NYATAYA | NATION Tanzania Petroleum Development Corporation (TPDC) plans to build a multibillion-dollar fertiliser factory, banking on the large natural gas resource in the southern regions of Lindi and Mtwara. Natural […]
A housing estate in Kigali. Both middle and low-income earners in urban areas are stretching their shrinking budgets to cover housing needs. PHOTO | FILE Household budgets are still under pressure as high utility, housing and transport related costs remain high, despite easing food prices. The National Institute of Statistics of Rwanda (NISR) reported 0.9 […]
Cimerwa cement factory in Rwanda. The cement maker has resumed production after a two-month break for maintenance and upgrade. FILE PHOTO | NATION Rwanda’s largest cement maker, Cimerwa, has resumed production after a two-month break for maintenance and upgrade. Uganda’s Hima and Tororo cement manufacturers have announced plans to temporarily shut down their plants this […]
Farmers have complained that their produce are not fetching desired prices in the market. PHOTO | CYRIL NDEGEYA | NATION Cassava farmers are struggling to find market for excess produce which has forced them to sell below input cost. While cassava production has increased in Southern Province this season, long after recovering from cassava mosaic […]
International Monetary Fund Kenya representative Jan Mikkelsen. PHOTO | DIANA NGILA | NMG IMF reckons banks could lend each other regardless of the location of the borrower in the region The multilateral lender notes that in Uganda, for example, the repo market is not vibrant and does not match the international standards. The International Monetary […]
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