Tag Archives: economy

Business captains punch holes in Bank of Uganda projections Uganda’s economy is expected to pick up steam this year, boosted by public infrastructure spending and easing of the monetary policy to stimulate economic growth. At least that is the view of Bank of Uganda Governor Emmanuel Mutebile. Mutebile spewed his …

Las Vegas, United States | AFP |  Global spending on consumer technology is expected to slip this year due to factors including a strong US dollar and political uncertainty prompted by Brexit and President-elect Donald Trump. Consumer Technology Association senior director of market research Steve Koenig revealed the US trade …

Mumbai, India | AFP | Indians rushed to change their bank notes Friday before a deadline to deposit invalid rupee notes closed, as Prime Minister Modi defended his controversial move to reduce cash in use. His shock November 8 announcement rendered 86 percent of India’s currency void, giving customers until …

Luanda, Angola | AFP |  Angolan President Jose Eduardo dos Santos’s daughter, reportedly Africa’s richest woman, has been cleared to head the national oil company Sonangol, after a court rejected a legal challenge. Isabel dos Santos was put in charge of Sonangol in June in a move some analysts said …

Libreville, Gabon | AFP | Its lower cost has made it popular in commercial food production, but after being blamed for deforestation in Asia, palm oil plantations are now getting a similar rap in Africa. The sheer scale of land required is having an impact in Gabon, Cameroon and the …

Istanbul, Turkey | AFP |  It had seemed impossible to find insults more scathing. Russian President Vladimir Putin accused Turkish counterpart Recep Tayyip Erdogan of trading oil with Islamic State jihadists and making modern Turkey’s founder Ataturk “roll in his grave”. In a loud slanging match between two masters of …

Abuja, Nigeria | AFP | Nigeria’s President Muhammadu Buhari proposed Wednesday a multi-billion dollar jump in spending designed to lift the nation out of the “most challenging economic situation” in its history. He pitched his NGN 7.3 trillion budget ($23 billion) proposal for 2017 — a 20 percent boost over …

South Africa’s Steinhoff and Shoprite to form retail giant Johannesburg, South Africa | AFP |  South African retail giants Steinhoff International and supermarket group Shoprite Holding Wednesday said they were in talks to merge their African operations to form a single company worth over $14 billion. The companies said in …

Banjul, Gambia | AFP | The cocktails keep flowing by the pool on the tourist strip, but in The Gambia’s markets many African migrant traders are packing up their businesses and heading home. The international community is piling pressure on President Yahya Jammeh to leave power after 22 years and …

Members of Parliament (MPs) have shown eagerness to adopt the Songhai Model in Uganda’s programmes aimed at fighting unemployment, enhancing labour productivity and food security. “It is very important Members of Parliament experience the Songhai Model. I am saying that because I am a fan of the Songhai model,” Uganda Parliament …