Kampala, Uganda | JULIUS BUSINGE | As Uganda makes steps towards getting first oil in 2020, insurance companies are working on mechanisms of partnering to share risks and benefits that will manifest. Speaking to journalists on the sidelines of a press conference on the upcoming oil and gas convention to be held in Kampala next […]
Tag: Opinion
Zimbabwe: Agribank Returns to Profitability
STATE-owned Agribank has returned to profitability, posting a US$8 million profit in 2017 from US$4 million in 2016, two years after the United States of America lifted sanctions on the bank. Agribank was among other companies perceived to have been propping up the regime of former President Robert Mugabe. The Zimbabwe Independent business reporter Tinashe […]
Tobacco could hit 200m kg
Zimbabwe is the world’s sixth largest tobacco producer TOBACCO production could reach 200 million kilogrammes from the 186 million kilogrammes recorded last year, Ethical Leaf Tobacco managing director Doesmatter Muvimbi has said. Speaking at The Financial Gazette Executive Dialogue last Friday, Muvimbi said this year’s leaf tonnage could be higher than last year’s despite slow […]
Nairobi poor suffer as charcoal prices increase by third after logging ban
Pic: A charcoal trader at Makina market in Kibera, Nairobi. (NMG) Low-income households continue to bear the brunt of the temporary ban on logging that has pushed up charcoal prices by 27 per cent in the past month. Latest Kenya National Bureau of Statistics (KNBS) data shows the price of charcoal rose to an average […]
Kenyan drug maker gets $10m IFC growth loan
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 to harmonise agrochemical, pesticide use
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’s Judiciary pushes for mediation in commercial cases to reduce backlog
Rwanda turns to mediation to reduce backlog in commercial court.
Egyptian Investors Eye Rwanda’s Energy, Agriculture Sectors
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 […]
Stanbic Uganda industry survey points to consistent economic growth
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 […]
US warns African countries off Chinese loans
US Secretary of State Rex Tillerson said on Thursday that African countries should weigh Chinese loans carefully, while adding that Washington was not trying to keep Chinese investment away from the continent. Tillerson, a former Exxon chief executive, is seeking to bolster security alliances on a continent increasingly turning to Beijing for aid and trade. […]