SHENZHEN | Xinhua | China’s BYD became the world’s leading seller of pure electric vehicles in the fourth quarter of 2023, marking another landmark moment in China’s fast-growing new energy vehicle (NEV) sector. The Shenzhen-based auto company announced the sales of 526,409 all-electric cars between October and December, surpassing Tesla’s …
Read More »ICEA LION stresses transparency in dealing with insurance claim clients
ICEA LION say commited to client satisfaction despite recent concerns Kampala, Uganda | THE INDEPENDENT | Leading insurance company ICEA LION have reassured clients that their policies are consistent, and they are dedicated to ensuring a smooth and satisfactory resolution of all claims filed. ICEA LION released a statement January …
Read More »Airtel Africa boss to retire
Lagos, Nigeria | THE INDEPENDENT | Airtel Africa plc has today announced the retirement of the Chief Executive Officer, Olusegun “Segun” Ogunsanya, with effect from 1 July, 2024. Ogunsanya, who joined Airtel in 2012, ran the Nigeria Operations of the Telecommunications and mobile money company for nine years before his appointment …
Read More »China’s high-standard opening up offers promising prospects for foreign investors
BEIJING | Xinhua | Tesla has announced that its new mega factory project in Shanghai was officially launched and scheduled to begin production within the next year, following the establishment of its Shanghai Gigafactory in 2019, which is the first wholly foreign-owned vehicle manufacturing project in China and Tesla’s first …
Read More »Kenya gets into 2024 with government securities’ interest rates at historic high
NAIROBI, KENYA | Xinhua | Interest rates on Kenya’s government securities have closed 2023 at a historic high, putting the country in a tough position as it seeks to ramp up borrowing to fund a budget deficit. The Central Bank of Kenya (CBK) said in its data released Friday …
Read More »European economy struggles amid recession fears, geopolitical chaos
FRANKFURT, GERMANY | Xinhua | As German companies are getting increasingly dissatisfied with their status quo, their scepticism over business prospects for the first half of 2024 has grown. The Ifo Business Climate Index, which measures entrepreneurs’ sentiments about the current business situation and their expectations for the next six …
Read More »Egypt seals 29 oil, gas deals in 2023
CAIRO, EGYPT | Xinhua | The Egyptian Ministry of Petroleum and Mineral Resources announced on Thursday that 29 agreements with a total investment of about 1.2 billion U.S. dollars for oil and natural gas exploration in the country have been signed in 2023. The ministry said in a statement that …
Read More »Industrial Park: Kisoro land ready for construction
Kisoro, Uganda | THE INDEPENDENT | The government has completed the acquisition of the land allocated for the construction of Kisoro Industrial and Business Park in Kisoro District. This was after the Uganda Investment Authority obtained the land title, and marked the borders, paving the way for the construction works to …
Read More »Kenya Airways expands codeshare deal with South African Airways
NAIROBI | Xinhua | Kenya Airways (KQ), the country’s national carrier, said Thursday it has expanded its codeshare partnership with South African Airways (SAA), the flag carrier airline of South Africa, to include direct flights from South Africa to South America. Kenya Airways said customers will now experience a seamless …
Read More »Uganda Investment Authority reveals plans for Kisoro Industrial Park
Kampala, Uganda | THE INDEPENDENT | The Director General of the Uganda Investment Authority (UIA), Robert Mukiza, has affirmed that the progress of establishing the Industrial Park in Kisoro district remains on track. The Kisoro district authorities allocated 620 acres of Kibaya land in Bunagana and Rukundo Town councils to …
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