Business

London, United Kingdom | AFP | Several British banks processed nearly $740 million in a multi-billion dollar Russian money-laundering scam, The Guardian newspaper said on Monday. According to documents obtained by the Organized Crime and Corruption Reporting Project, at least $20 billion was moved out of Russia between 2010 and 2014 …

The Rwandan Patriotic Front’s business empire RWANDA has a reputation for enterprise. Its government has largely stamped out small-scale corruption and trimmed regulations, making the country the second-best place in Africa to do business, according to the World Bank’s widely-followed ranking. But the dominant political party, the Rwandan Patriotic Front …

20% decline in supply at Mombasa auction in first 10 weeks of 2017 pushes prices up Prices of tea at the Mombasa Auction, the world’s second largest selling centre have been high this selling season – at US$3 per kg in the first 10 weeks of 2017 compared to US$2 …

Wilson Kutegeka is the CEO of ClinicMaster International, the developers of a healthcare information management and medical billing software that automates patients’ transactions in health centres across East Africa.  He spoke to The Independent’s Agnes E Nantaba about automation of patient’s health records. What are the key elements in your …

Insights from Vietnam’s coffee market success By: Astrid R.N. Haas Until recently Vietnam and Uganda shared a similar trajectory in the development of their coffee sectors. Today, Vietnam has emerged as the second largest coffee producer in the world. In Uganda, poor agricultural inputs and a failing institutional environment have …

Expensive hotels: Top operators offer solutions to trend threatening tourism sector Build more high-end hotels and attract more international hotel chains to create competition and lower rates. Those are some of the views of experts in Uganda’s hotel sector about the high costs of hotel accommodation in Uganda which they …

Washington, United States | AFP | The World Bank on Sunday announced $57 billion in financing for sub-Saharan Africa over the next three fiscal years. Of that total, $45 billion will come from the International Development Association, the World Bank fund that provides grants and interest-free loans for the world’s poorest …

Baden-Baden, Germany | AFP | Ministers from the world’s top economies heralded plans to boost development in Africa on Saturday, at an otherwise fractious G20 gathering in Germany. Berlin, which holds the presidency of the powerful nations’ club this year, has made a hoped-for “Compact with Africa” a top priority for …

Lagos, Nigeria | AFP | Nigeria’s second largest airline Aero Contractors has laid off two-thirds of its workforce to save costs and prevent it from going under, a government agency official confirmed on Friday. The company said in a letter to employees on Thursday that it was “constrained to place (them) …

Freetown, Sierra Leone | AFP | A pastor working in the mines of eastern Sierra Leone has unearthed a 706-carat diamond, the government said Thursday, as experts said the stone could rank as the 10th largest ever found. The huge diamond was discovered by Emmanuel Momoh, one of thousands of …