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Advisor Tony Blair returns to Rwanda

By Magnus Mazimpaka On May 10, former British Prime Minister Tony Blair and his team had a luncheon with President Paul Kagame at state house in Kigali. Later, at a joint press briefing on Blair’s third visit to Rwanda, President Kagame told journalists that he was happy to have ”ur …

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Rwanda budget offers stimulus package

By Magnus Mazimpaka Rwanda increased its spending by 24%, the raise mainly acting as a stimulus package to protect the economy against the current global financial crisis. Expenditure increased to Frw838 billion this financial year 2009/10 from Frw674 billion last year. There was a slight increase of Frw26 billion from …

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Mobile money reshapes Uganda’s financial sector

By Patrick Kagenda As Zain (U) last week launched its Zap Mobile Commerce, a mobile phone based money transfer servicein Uganda in partnership with Standard Chartered Bank, in neighbouring Kenya Safaricom was launchinga similar service, Hello Money in partnership with Barclays Bank (K) Ltd. In Uganda, Standard Chartered Bank becomes …

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Turmoil in oil sector

By Joseph Were Libyan companies pressure Shell, Total This month, the Kenya Petroleum Refinery Ltd in Mombasa is set to close for routine maintenance. As a result, Uganda could suffer disruptions in supply. The Mombasa refinery shutdown also comes at a time of significant developments in the fuel sector. Top …

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Tamoil is only for the oil pipeline

By Patrick Kagenda The along awaited oil pipeline could be complete by the end of the year if everything goes according to plan. The Independents Patrick Kagenda talked to the State minister for Energy, Simon D`ujanga on the progress made. There are many types of Tamoil i.e. Tamoil Libya, Tamoil …

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Heritage suspends trading on LSE

By Agencies It appears that Heritage Oil Ltd. is the subject of a takeover once again. According to a recent release issued by the company it is in preliminary discussions with a third party regarding a possible merger which would be treated as a reverse takeover under the Listing Rules …

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2009/10 budget we expect from Bbumba

By Patrick Kagenda Finance Minister Syda Bumba will read her maiden budget speech to the nation on June 11, 2009. With an economy hit hard by the global financial meltdown, a depreciating shilling, low exports, spiraling unemployment and biting poverty, the minister will need to pull off a delicate balance …

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Rebuilding Uganda’s marine power

By Patrick Kagenda New ferry raises Uganda’s hope of sailing big on Lake Victoria Since the defunct Uganda Railways Corporation’s marine vessel MV Kabalega, which sunk on Lake Victoria after a collision with its sister ship MV Kawa on May 8, 2005 and the grounding of both MV Pamba and …

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Brewers plan cheap beer for Africa

By Independent Team and Agencies But Nigerian competitors say cassava, sorghum beers will fail SABMiller (SAB.L), the parent company of Uganda’s Nile Breweries in Jinja is embarking on a strategy to make beer more affordable. According to a report in the Business Week in the UK, the strategy targets low-income …

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