Business

Luanda, Angola | AFP | Angola on Thursday passed a law scrapping rules that previously forced foreign investors to partner with local firms, as President Joao Lourenco tries to revive the oil-dependant economy. Lourenco has vowed to pull in foreign investment after he succeeded Jose Eduardo dos Santos, who had ruled …

  Nairobi, Kenya | THE INDEPENDENT | Cafejavas, a Kampala-based full-service, quick-casual, coffee-themed restaurant chain, has crossed the border from Uganda, taking their services to Nairobi, Kenya. It is a Mandela Group company. C.Js is the newest Coffee place / Gastronomy place in Nairobi – Koingage Street. Let these pictures …

Tripoli, Libya | AFP | Fuel smuggling is costing Libya more than $750 million each year and harming its economy and society, the head of the National Oil Company in the conflict-riddled country said. “The impact of fuel smuggling is destroying the fabric of the country,” NOC president Mustafa Sanalla …

    London, UK | THE INDEPENDENT | The Academic Union Oxford Council in the UK has awarded National Water and Sewerage Corporation MD Dr. Eng Silver Mugisha the title of the Honorary Professor of the Academic Union Oxford in the field of business and management. The honorary title is …

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 …

Kampala, Uganda | THE INDEPENDENT | The World Bank projects Sub-Saharan Africa to garner an economic growth of 3.1 percent in 2018, and increase of over one percent from 2017. Recent data in the Africa Economic Update released Wednesday afternoon point to a moderate strengthening of economic growth in early 2018. …

      Kampala, Uganda | JULIUS BUSINGE | Oil sector leaders are warming up to deliver new developments regarding oil and gas sector for Uganda next week. This will be at the 4th annual Oil and Gas Convention scheduled for April 25-26 at Kampala Serena Hotel, where hundreds of …

Johannesburg, South Africa | AFP | South Africa on Tuesday announced it has banned KPMG from auditing its government institutions following a series of scandals involving the international auditor in the country. The decision to terminate KPMG’s contracts is with “immediate effect”, auditor-general Kimi Makwetu’s office said in a statement. …

Centenary becomes third bank to unveil micro-loans to customers via mobile phones Kampala, Uganda | ISAAC KHISA | Despite talk that micro-loans may not create a big impact on the economy, the scramble for a share of the small loans business by Uganda’s banking industry continues to gain momentum. Centenary Bank …

Governor projects 6.5% economic growth in three years but private sector concerns remain Kampala, Uganda | JULIUS BUSINGE | On April 09, the Bank of Uganda Governor, Emmanuel Tumusiime-Mutebile, arrivedat the Bank’s conference room on the 7th Floor to announce the Monetary Policy Statement for Aprilpast the usual time, 12:00pm. The …