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The independent

The business of 2009

By Patrick Kagenda & Joshua Masinde The year 2009 began with projections of declining economic growth especially in Sub- Saharan Africa as a result of the global financial meltdown. Growth was projected to decline from 7 percent in 2007 to 6 percent in the financial year 2008/09. The economy has …

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Commodity revival offers hope for Africa

By Agencies Resurgent mineral exports and foreign investor demand look set to support African currencies in 2010, but an array of local factors, ranging from bad weather to anti-gay legislation, could upset that trend. The region’s high-yielding debt and strong economic growth prospects are likely to lure foreigners into frontier …

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Royal guards terror

By John Njoroge Bunyoro kingdom ruling by old rules? In 1999, Fred Atugonza of Hoima town, left his home in the wee hours to pray at a church near the palace of the Bunyoro king Rukirabasaija Agutamba Solomon Gafabusa Iguru I. The good Christian he was and an ardent follower …

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Eni deal: Heritage share price stays low

By Independent team Experts say Uganda assets undervalued Government to state position on Tullow in January After an initial surge on speculation that its Ugandan assets may fetch a higher price than Eni had offered, Heritage Oil shares on the London Stock Exchange settled lower. Heritage, run by Tony Buckingham, …

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Rwanda braces for first IPO

By Kelvin Odoobo Rwanda’s fledging stock market is set for a major boost as government prepares to list 25% of its 30% stake in the national brewer BRALIRWA. According to the operations manager of Capital Markets Advisory Council (CMAC), Celestin Rwabukumba, the process of issuing an initial public offer (IPO) …

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