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 […]
Even as African governments improve their cut of mining royalties, FDI will continue to flow into the sector
Pic: Katanga copper mine in the Democratic Republic of Congo. (Photo: Glencore). Despite the fact that, through the enactment of new laws and regulations, local governments in Sub-Saharan Africa are starting to claim a larger share of their countries’ mineral resource wealth, BMI Research believes that investments in the region will continue to rise in […]
Demand for Africa’s baobab fruit increases in the UK
Pic: An elephant rests under a baobab tree in Tarangire National Park in Tanzania. Baobab fruit sales have increased by over 1,600 per cent in some areas of the United Kingdom (UK) as commodity experts suggest that it is set to become a new western super-food. The benefits of baobab have long been known in […]
Kenya’s top pineapple producer Kakuzi turns to more profitable avocados
Kakuzi, Kenya’s top pineapple producer to focus more on avocados which have higher margins.
23 Geothermal sites with over 10,000 MW potential discovered in Ethiopian rift valley
After 18 months of researches and exploration with partners, Ethiopian Geological Survey has identified 23 geothermal energy potential areas in the Ethiopian Rift Valley Zone, it dislosed. Tamiru Mersha, Communication Affairs Director at the Ethiopian Geological Survey, told The Ethiopian Herald that a potential of over 10,000 Mega Wats (MW) geothermal energy was discovered in […]
Zanzibar export earnings increase by 27% driven by cloves and seaweed sales
Zanzibar’s earnings from exports of goods and services have increased by 26.9 per cent in the year ending January 2018, thanks to an improvement in the major exports of cloves and seaweeds. The Bank of Tanzania (BoT) Monthly Economic Review (MER)of February 2018 indicates that earnings increased to $225.9 million during the year ending January […]
