Tag Archives: economy

Luanda, Angola | AFP |  Angolan President Joao Lourenco on Wednesday fired his predecessor’s daughter from her influential post as head of the Sonangol state oil company, the presidency said in a statement. Her appointment to the oil giant last year was widely criticised as a symbol of the nepotism …

Deloitte, an international Audit firm operating in Uganda is working on a plan with the Ministry of Trade Industry and Cooperatives to aid small and medium enterprises (SMEs) grow their enterprises and boost economic growth. Its Managing Partner in Uganda, Norbert Kagoro, spoke to The Independent’s Julius Businge about their …

Paris, France | AFP |  Healthier lifestyles and higher incomes have helped increase life expectancy in the 35 OECD nations by 10 years in the past half century, according to a report published Friday. The OECD’s ‘Health at a Glance 2017’ report said the average life expectancy throughout the group …

Changes to how wealth is generated and distributed require new social contract for a digital age COMMENT| Manuel Muñiz | Macroeconomic data from the world’s advanced economies can be mystifying when viewed in isolation. But when analysed collectively, the data reveal a troubling truth: without changes to how wealth is …

Washington, United States | AFP | World Bank lending to countries like China that are rich enough to finance their own development hurts poor countries that need help, a senior US Treasury official said Wednesday. David Malpass, Treasury’s under secretary for International Affairs, cited China as a prime example of the …

Abuja, Nigeria | AFP | Nigerian President Muhammadu Buhari on Tuesday presented a record 8.6 trillion naira ($24 billion, 20.8 billion euros) budget to the National Assembly to support the country’s economic recovery. Buhari, addressing a joint session of lawmakers in Abuja, said the spending was a 16 percent increase over …

But experts wonder if economy can survive local and regional political turmoil Kampala, Uganda | JULIUS BUSINGE | There is some good news for Uganda’s economy finally. The Central Bank’s latest annual report shows a sharper GDP growth in 2016/17 than had earlier been estimated. The FY2016/2017 growth figures released on …

Libreville, Gabon | AFP | Six countries in central and western Africa have breathed life into long-running plans to allow visa-free movement of people among their nations. At a summit in the Chadian capital of N’Djamena, the countries formally declared late Tuesday that the scheme had now been ratified by all …

Riyadh, Saudi Arabia | AFP | Saudi Arabia plans to start issuing tourist visas “soon”, authorities said Tuesday, as the ultra-conservative kingdom seeks to attract international visitors in a radical overhaul of its oil-dependent economy. Tourism is seen as a major driver of growth as the kingdom attempts to wean itself …

After reversing the deplorable state of the economy, the government needs to support local businesses COMMENT | Martin F. Kyeyune | Manufacturing existed in Africa before the colonial rule. Africa made a wide range of essential goods it consumed, including food (this involved food preservation), shelter (involved the use of timber, …