A gauge of Uganda private sector activity rose to its highest level in eight months, a sign that the economy is regaining momentum following the relaxation of Covid-19 restrictions. IHS Markit, the international research firm, on Thursday said the Stanbic Bank Uganda purchasing managers’ index rose to 54.9 in January from 51.5 in December. A […]
Tag: XUGA
Uganda Securities Exchange (XUGA)
Standard Bank named Africa’s most valuable banking brand
Standard Bank has been named Africa’s most valuable banking brand following a 26 percent increase in brand value to US$1.583 billion, according to the latest report by Brand Finance published in The Banker magazine. Picture: Nhlanhla Phillips Standard Bank has been named Africa’s most valuable banking brand following a 26 percent increase in brand value […]
Kenya Airways and South African Airways to form new airline to launch in 2023
A potential partnership between Kenya Airways and South African Airways appears to be a done deal. Kenyan President Uhuru Kenyatta announced during an address to the nation on New Year’s Eve that the airlines will combine operations to form a new carrier, Pan-African Airline, with operations expected to begin in 2023. The partnership came about […]
Kenya Airways To Receive $176 Million Of Government Aid
Kenya Airways is set for a $176 million cash injection from the Kenyan government as the carrier struggles to stay afloat amid years of financial losses. The airline’s total debt amounted to $846 million at the end of 2020. The move comes after the Kenyan government abandoned plans to nationalize the flailing airline. Kenya Airways […]
Equity bank’s USSD *247# now works across all networks
Equity Centre1 Large Equity has announced that its USSD service (*247#) – which offers its customers a seamless banking experience – can now be accessed across Safaricom, Airtel, Telkom and Equitel. The service, the bank explains, has been enhanced to offer simpler customer journeys. Here are some of the new features on the *247# platform: […]
Food producers, KQ in Gulf cargo transport deal
Horticulture producers have negotiated a cargo transport deal with Kenya Airways to export chilli, peas and passion fruits to the United Arab Emirates, with the first batch of export expected next month. Kenya Airways is set to start bi-monthly horticulture cargo flights from Kisumu International Airport to the Gulf nation, according to the Fresh Produce […]
Kenya: Tourism and Travel Stakeholders Partner to Recover Sector
Nairobi — Stakeholders in the tourism and travel industries have agreed to partner in order to significantly resuscitate the sectors which have been adversely affected by the restrictions occasioned by the Covid-19 pandemic. During a consultative forum hosted by the African Travel & Tourism Association, (ATTA), the stakeholders who included the Kenya Tourism Board (KTB), […]
KCB sets up Sh800m Nakuru SMEs fund – VIDEO
Kenya Commercial Bank branch in Gikomba Market in Nairobi on Thursday, November 12, 2020. PHOTO | DENNIS ONSONGO | NMG KCB Bank has set up a Sh800 million fund to finance revival of small businesses and cooperatives in Nakuru County hit by the Covid-19 pandemic. The kitty set up in partnership with the Nakuru County […]
How Kenya’s ESG rules are unlocking green project funds
While Africa is responsible for less than five percent of carbon emissions, it is most vulnerable to climate instability. It is laudable that the Kenyan regulators have taken the lead and issued guidance on ESG and climate risk management. Equity Bank, via its Foundation, is helping learning institutions switch away from traditional wood fuel to […]
East Africa: Turbulence for Kenya Airways with regional rivalries and SAA tie-up?
Kenyan Airways planes are parked at the Jomo Kenyatta International Airport in Nairobi, Kenya, 24 March 2020. REUTERS/Baz Ratner The East African aviation industry, like its counterparts globally, is having a tumultuous pandemic period. Revenue losses and reduced passenger numbers due to Covid-19 travel restrictions as well as uncertainty have hit the aviation sector hard, […]