Tag Archives: Business

Kampala, Uganda | THE INDEPENDENT | Business seem to be worsening at the retail chain, Uchumi Supermarkets. Latest data shows that the retail chain recorded a 63.5% growth in net losses to US$8.95million for the half year ended Dec 2017 citing reduced sales. The listed company recorded a net loss …

Kampala, Uganda | THE INDEPENDENT |  On Feb 22, Kenya’s Treasury said it raised US$ 2 billion in a new sovereign bond issue listed at the London Stock Exchange (LSE). The Treasury said the Bond attracted a significant level of interest leading to over subscription. “This issue was seven times …

Douala, Cameroon | AFP | Talking fast and dreaming big, William Elong shows off the first “made in Cameroon” drone at his sixth-floor workshop in downtown Douala, minutes from the economic capital’s Atlantic seafront. The 25-year-old, known as a high-flyer after being named one of Forbes’ most promising young Africans …

Kampala, Uganda | THE INDEPENDENT | Kenya’s Treasury Secretary, Henry Rotich, has indicated plans to repeal the rate cap law as part of the contentious reforms demanded by the International Monetary Fund to extend a frozen Kshs 153bn emergency standby facility that expires this month. The facility, which is designed …

Kolwezi, DR Congo | AFP | In early 2014, according to local folklore, a man digging a septic tank or a well in his garden in Kasulo came across rocks with a distinctive grey-green sheen: cobalt. From then on — rather like the find at Sutter’s Mill in 1848 that …

Dubai, United Arab Emirates | AFP | Ethiopia on Thursday acquired a stake in a port in the breakaway state of Somaliland, its operator DP World said, as a legal dispute rages over another major Horn of Africa shipping hub. Dubai-based DP World last week accused Djibouti of illegally seizing …

Kampala, Uganda | THE INDEPENDENT | Jambojet, a low-cost subsidiary of Kenya Airways, plans to buy four aircrafts in the next 18 months to support its local and regional expansions. The airline’s CEO Willem Hondius said during the carrier’s maiden international flight to Entebbe on Feb 15 that they expect …

Kampala conference discusses ways of increasing output but many wonder who would buy it Kampala, Uganda | JULIUS BUSINGE | Uganda is currently implementing an ambitious plan  the coffee road map to increase coffee output from the current 4.5 million bags to 20 million bags by 2025. This new target is …

Kampala, Uganda | THE INDEPENDENT | Ugandan Small and medium enterprises banking with the Togo-based Ecobank Transnational Incorporated (ETI), have a chance to borrow part of $200 million, FMO, the Dutch development bank, has made available for SME growth across the continent. Ecobank Group CEO, Ade Ayeyemi, said new transaction …

Ugandan traders battle Chinese, Indians, over lucrative business Kampala, Uganda | ANDREW S. KAGGWA | A row has developed between the Ministry of Agriculture, Animal Industry and Fisheries (MAAIF) and fish exporters on one side and fish traders on the other over the sale of fish maws. Siraje Walusimbi, an executive …