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MTN appoints new CEO

Johannesburg, South Africa | AFP | South Africa-based Telecoms giant MTN on Monday named a new chief executive after resolving a dispute with Nigeria over a huge fine for failing to disconnect millions of unregistered mobile phone lines. MTN announced that Rob Shuter, a South African who is currently the …

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Mission accomplished?

Brian Gouldie, the outgoing MTN Uganda CEO, says he is not being replaced in Uganda because of non-performance. Reacting to The Independent’s lead story titled, ‘Why MTN boss is leaving’ (June 03-09), Gouldie defended his two-year tenure saying the company’s objectives of bringing him to Uganda have been achieved. Without …

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All set for Total to take over GAPCO

With only minor regulatory glitches remaining, the deal valued at $400 million, will see Total acquire all the GAPCO operations in Uganda, Kenya and Tanzania. The company’s assets include logistic terminals, 108 fuel stations, and 260,000 kilolitres of storage capacity. Final touches are being made on a deal in which …

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TMEA launches second phase

Regional trade facilitation organisation to pump between Shs 2.66 – Shs 2.83 trillion in region On May 31, executives at Trademark East Africa, a not-for- profit organization that supports the East African Community integration process in trade policy reforms and trade-related infrastructure, gathered in Kampala. The meeting was intended to …

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Ugandan takes charge at top brewery UBL

  Mark Ocitti Ongom was on Thursday unveiled in Kampala as the new Managing Director (MD) of Uganda Breweries Limited (UBL), taking over from Nyimpini Mabunda. Ongom is only the second Ugandan to lead the beverage manufacturer since UK multinational Diageo Plc, acquired majority shareholding in East African Breweries Limited …

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Nigeria to stop defending naira

Abuja, Nigeria | AFP | Nigeria signalled Wednesday it will ease currency controls, opening the door to a plunge in the value of the naira, after the restrictions were blamed for stifling the economy. Central Bank of Nigeria (CBN) governor Godwin Emefiele said in a televised speech from Abuja that …

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IMF offers oil-dependent Angola $4.5 bn loan

Luanda, Angola | AFP | The International Monetary Fund said Tuesday it had offered Angola $4.5 billion in loans as the country, which was wracked by civil war until 2002, has been badly impacted by falling oil prices. “Angola can receive a maximum $4.5 billion (4.0 billion euros)… the loan …

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LIVE: URA Budget analysis engangment

The Uganda Revenue Authority together with the Ministry of Finance, Planning and Economic Development on Monday held a seminar to help tax payers understand what they are up against in the budget that was read last week. “We are here to help the ordinary person understand how the budget affects …

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