Tag Archives: economy

Kampala, Uganda | JULIUS BUSINGE | Stanbic Bank Uganda in collaboration with the Industrial and Commercial Bank of China Limited (ICBC) have hinted that Uganda’s economy is set to reap big from oil and gas activities. Speaking at an economic forum organised by the two banks for the Chinese business …

Soc Trang , Vietnam | AFP | With a flashy gold watch and a chunky matching ring, Tang Van Cuol looks a far cry from the average Vietnamese farmer as he slings back a shot of rice wine and boasts about his projected earnings. After years scratching a living growing rice …

AGOA: Trade forum to showcase Trump’s Africa policy Lome, Togo | AFP |  US President Donald Trump barely mentioned Africa or trade with the continent during his whirlwind campaign and has been mostly silent about the region since taking office. But the annual African Growth and Opportunity Act (AGOA) forum …

Beijing, China | AFP | Fast food giant McDonald’s said Tuesday it would almost double the number of restaurants in China over the next five years as it refocuses on international markets amid slowing US sales. The Illinois-based burger chain will add 2,000 stores to its current 2,500 in China and …

Benghazi, Libya | AFP | When a cash crisis struck the war-torn North African country of Libya, many people were forced to queue for days to withdraw their savings. But electronic payments systems set up to tackle the dearth of cash have struggled to gain credibility amid accusations of abuse. Said …

BOU denies hiding cash on foreign account in Germany Kampala, Uganda | JULIUS BUSINGE |  Bank of Uganda (BOU) has dismissed as untrue reports that it has hidden Sh10.7 billion in a bank in Germany, an issue that has been widely spread on social media in the past week. In …

Warri, Nigeria | AFP | Months have passed since the Niger Delta Avengers have launched an attack on Nigeria’s oil pipelines, yet leaders in the region are warning trouble is brewing in the southern swamplands. A charm offensive led by Nigeria’s acting president Yemi Osinbajo has kept the uprising at bay, …

Hoedspruit, South Africa | AFP |  It was a hard-fought victory for South Africa’s black community seeking to reclaim land, and for the Moletele ethnic group it has become a surprising model of wider racial cooperation. After a 10-year legal battle, the Moletele have taken back the land from which …

Nairobi, Kenya | AFP |  The timing was perfect. Two months before Kenya’s August 8 vote, President Uhuru Kenyatta inaugurated the nation’s biggest infrastructure project: a railway connecting the capital Nairobi and the port of Mombasa. With pomp and ceremony Kenyatta touted the railway as proof of his campaign promises …

Johannesburg, South Africa | AFP | One of South Africa’s largest retailers Pick n Pay on Monday said it had cut around 3,500 jobs — 10 percent of its workforce — in a bid to curb costs in an economy battling a recession. “The voluntary severance programme is one of several …