At one percent, insurance penetration in Uganda remains low, but products like bancassurance, are steadily improving public perception about the advantages of being insured and Stanbic Bank continues to hold a leading position in the market. Bancassurance is a partnership that allows commercial banks to offer insurance products to their customers, making it more convenient […]
New research* from Dragon Capital reveals that one in three (34%) retail investors plan to invest in emerging markets in the next 12 months as they increasingly diversify their holdings. · One in three UK retail investors plan to invest in emerging markets in the next 12 months on hopes of faster economic growth Of […]
Plans for the reopening of the Kenya-Somalia border in Mandera are nearing conclusion, with the renovation of the Customs Border Control Point set to begin soon. This follows a series of high-level consultations between the two countries with the intent to advance new spheres of shared interests, particularly cross-border trade and regional security. Interior Cabinet […]
The East African Community (EAC) this week officially launched the verification mission to assess Somalia’s readiness to join the regional bloc. A team of experts from the partner states will be in Somalia from January 25 to February 3, 2023. The team will, among other roles, seek to establish the country’s level of conformity with […]
Kampala, Monday, 23rd January 2023: Standard Chartered Bank Uganda has today launched an offshore Mutual Funds product for their clients during a press conference held at Kampala Serena Hotel and presided over by the Bank’s CEO, Sanjay Rughani and Keith Kalyegira, the CEO, Capital Markets Authority among other executives. With this proposition, the Bank’s clients will enjoy access […]
Nairobi, Kenya, Monday, 23rd January 2023. Kenya’s economy is expected to remain subdued in 2023, growing at a projected 5%, pulled down by a persistent rise in commodity prices, global events and a high risk of debt distress. However, there is an opportunity for the economy to register a remarkable upward trend if the government focuses […]
Addis Ababa, 19 January 2023 (ECA) – The Economic Commission for Africa (ECA) is supporting regional trade integration through the African Trade Exchange Platform (ATEX), a platform enabling bulk procurement of commodities. Speaking at a session on integrating regional trade during the regional consultation on LDC5 for Least Developed Countries (LDCs) in Africa and Haiti, […]
Addis Ababa, 18 January 2023 (ECA) – The implementation of the African Continental Free Trade Area (AfCFTA) should be expedited as the free trade zone will boost intra-African trade and accelerate industrialization, the Economic Commission for Africa (ECA) Acting Executive Secretary, Mr. Antonio Pedro, has urged. “While the AfCFTA’s promise is high, that promise can […]
Kampala – Uganda, January 4, 2023: The Ugandan private sector ended 2022 on a positive note, with ongoing expansions in output, new orders and employment recorded, according to the latest Stanbic Purchasing Managers’ Index released today. Growth of demand fuels rise in activity Businesses confident heading into 2023 Employment increases for third month running At […]
The World Bank is committed to assist Madagascar to jumpstart its economic recovery and put the country back on the path to development. According to the Regional Vice President for Eastern and Southern Africa at the World Bank Victoria Kwakwa, the parallel shocks of the pandemic, the war in Ukraine resulting in economic challenges, and […]
Abidjan, December 7, 2022 – The Board of Directors of the African Development Fund, the concessional lending arm of the African Development Bank Group, has approved a $12 million grant to the Democratic Republic of Congo (DRC) to implement the Financial Sector Development and Inclusion Support Project in the country. The funding will support financial […]
Kampala – Uganda, December 5, 2022: Conditions in Uganda’s private sector continue to improve as the latest data for the monthly Stanbic Purchasing Managers Index (Stanbic Bank PMI) showed output, new orders and employment all increasing over the month. The headline PMI rose to 50.9 in November from 50.0 in October, indicating an improvement in business […]
Samuel Nabwiiso, The East African Business Council (EABC) and the International Trade Centre (ITC) have launched an online platform designed to boost the competitive edge of East African small businesses. The platform code named myeasoko will provides small businesses in the region with an avenue to support their recovery, build resilience and drive growth using […]