Ethiopia’s Ministry of Industry announced that three Integrated Agro Industrial Parks (IAIPs), Bure, Bulbula, and Yirgalem, will be open to investors. Bure IAIP, which is situated in Amhara Regional State and built at a cost of USDollars 148 million (8 billion Birr), has already attracted the interest of 103 investors. An investment forum was organized […]
Leading regional telecommunication company Safaricom has onboarded more than million customers since its entry into the Ethiopian market since its launch last May. The last three months have seen a marked rise in the numbers of customers onboarding Safaricom with the numbers going up by 300,000 in the last one month. By September 30, Safaricom […]
Ethiopia’s Awash International Bank (AIB) plans to raise US Dollars 796 million in equity, as they get ready for foreign competition following the liberalization of the banking industry in less than a year, The bank is proposing a decision to increase the bank’s paid-up capital to USD One billion. It is almost a fivefold increase […]
Africa should question the past on the identification of the factors that have weighed down Africa in its march towards industrialization, Africa Union chairman Moussa Faki has said. Speaking during the Extraordinary session of the AU Assembly in Niamey, Niger, devoted to Industrialisation and Economic Diversification and the African Continental Free Trade Area (AfCFTA), Faki […]
Airtel Mobile Commerce Uganda Limited (AMCUL) in partnership with KCB Bank Uganda has announced their joint partnership to grow the savings culture in Uganda with the Airtel-KCB Super Saver Fixed Deposit product. With the Airtel-KCB Super Saver Fixed deposit product, customers can now deposit up to Ushs. 5 million on their Airtel-KCB Super Saver account […]
Tanzania is facing a serious shortage of power that has forced the country to start rationing electricity because of a drop in hydropower generation brought on by drought. Tanzania Electric Supply Company Limited (Tanesco) said some areas in the country suffer nine-hour outages. The country has the capacity to generate nearly 1,695 megawatts through hydropower, […]
KAMPALA Thursday, November 24, 2022: Mr. Humphrey Nzeyi is the new Chairman of the Private Sector Foundation Uganda (PSFU). He was voted in as the fifth Chairman on Thursday November 24th 2022 at PSFU’s 26th Annual General Meeting (AGM) at UMA Multipurpose Hall at Lugogo, in Kampala. He replaces Hon. Elly Karuhanga who has been […]
The UBA Group Managing Director / CEO Mr. Oliver Alawuba paid a courtesy visit to Uganda- one of the most dynamic and transformative market where UBA (United Bank of Africa) has a strong footprint and legacy outside Nigeria. Many companies are now laser-focused on transformation – embracing the changes initiated or accelerated by the pandemic. […]
Kampala, Uganda 21st November 2022 Equity Bank Uganda Limited has announced the appointment of Mr. Anthony Kituuka as the new Managing Director with immediate effect. Prior to his appointment Mr. Kituuka served as the Executive Director Equity Bank Uganda Limited from 2016. He previously served as the Executive Director for Regional Subsidiaries from 2014 to […]
Ethiopia has started exporting electricity to neighboring Kenya following a week of testing of a new transmission line, Ethiopian Electric Power said. The $500 million line has capacity to transmit 2,000 megawatts of electricity, potentially earning Ethiopia as much as $100 million annually. “Ethiopia has completed activities to ensure uninterrupted and reliable transmission of power and […]
Paul Tentena, Stanbic Uganda Holdings Limited were the biggest winners at the 2022 Financial Reporting Awards popularly referred to as the FiRe Awards organised by the Institute of Certified Public Accountants of Uganda (ICPAU). Stanbic Uganda Holdings Limited, which scooped the top Award of Excellence in Corporate Governance Reporting, also won two Awards of Excellence […]
Johannesburg, 17 November 2022: Standard Bank has shared the results of the second edition of its Africa Trade Barometer. Two quarters after the inaugural edition, the second edition of the Africa Trade Barometer tracks changes, both favourable and otherwise, in the opinions of businesses trading in and between 10 African economies. “The ability to report […]
Kampala – Uganda, November 17, 2022: With a promise to perform more transactions for less, Stanbic Bank Uganda is hoping to more than double its FlexiPay Wallet holders to at least a million subscribers in a new campaign dubbed “Kikole for less—do it for less.” Flagged off Thursday afternoon to thousands of excited revelers at […]