President Yoweri Museveni this afternoon commissioned Umeme’s upgraded multibillion Mbale Substation near Bugema. Mr. Selestino Babungi, the Umeme Managing Director, explained that the $17m (about sh64b) modern substation will now make electricity supply in eastern region more reliable resulting from the integration of the new transmission 50MW substation at the Mbale Industrial Park. He said […]
“We promise to champion African excellence and deliver a befitting event. We will leave no stone unturned to ensure that this is a seminal event.” – Kenneth Ofori-Atta I would like to assure you of the Bank’s full commitment and availability to accompany the Government of Ghana on this journey – Vincent O. Nmehielle Accra, Ghana, 13 […]
Kampala, November 13, 2020: Today, Mr. Michael MUGABI, the Managing Director Housing Finance Bank Uganda and Mr. Hatem CHAKROUN, the Agence Française de Développement (AFD) country Director in Uganda have signed two financing agreements to the tune of euro 10.5 million (UGX 46.5 bn). The line of credit and technical assistance aim at supporting the […]
Abidjan, Cote d’Ivoire, 11 November 2020 – The African Development Bank and the Government of Uganda have signed a $500,000 grant agreement for financing of Micro, Small and Medium Enterprises (MSMEs) to boost business linkages on the East African Crude Oil Pipeline Technical Assistance project. The project’s overall objective is to help develop capacity of local Uganda […]
Abidjan, Côte d’Ivoire, 10 November 2020 – Uganda has for the third time in a row emerged as the top performer in this year’s Electricity Regulatory Index Report published by the African Development Bank. The East African country, along with Namibia, Tanzania, Zambia and Kenya, the other top performers, have regulators with the authority to exert […]
Kampala, Uganda, October 29, 2020 – President Yoweri Museveni has launched the Rwenzori Investment Profiles aimed at publicizing the vast investment opportunities in the Rwenzori Region in western Uganda to both domestic and foreign investors. The President, in a speech delivered by Vice President Edward Sekandi at the Rwenzori Investor’s Roundtable in Kampala, said […]
The Bank of Uganda, at the Monetary Policy Committee (MPC) meeting of October 2020 has maintained the Central Bank Rate (CBR) at 7 per cent. The high-frequency indicators for economic activity in the quarter to September 2020, point to a mild recovery of economic activity with estimated growth of 2 per cent from a sharp […]
In a bid to improve the reliability and the capacity of electricity supply in Northern Uganda, Umeme in collaboration with the Uganda Electricity Transmission Company Limited (UETCL) and Uganda Electricity Distribution Company Limited (UEDCL) together with several partners are executing several projects aimed at boosting quality and reliability of supply in the region. Umeme Head […]
Addis Ababa, 25 August 2020 – Ethiopian Airlines Group, the Largest Aviation Group in Africa is pleased to announce that it has successfully completed a new passenger terminal at its hub Addis Ababa Bole International Airport with emphasis on Bio Security and Bio Safety measures. The new terminal has check-in hall with sixty check-in counters, […]
Odindo Ayieko This was part of the discussions during a meeting between the President of the Republic of Somaliland, Muse Bihi Abdi and a delegation led by the Chinese Representative for Africa-China Cooperation (FOCAC), Ambassador. Zhou Yuxiao at the Presidential Palace. China had intended to use the meeting to forestall the growing diplomatic relations between […]
Leading East African planning, design, architecture and engineering team FBW Group has welcomed the launch of the USA’s Africa Investment Advisor Programme as a potential “game-changer” for the region. The aim of the programme is to increase trade and investment between the US and Africa, including attracting more private sector investment in key sectors, including […]
The World Bank’s Board of Executive Directors has approved $150 million to enable greater access to higher-quality secondary education among Ugandan children in safer and better-equipped learning environments that are also supportive of girls’ education. The project is financed by an International Development Association credit of $90 million, and a grant of $60 million from […]
The Uganda Investment Authority (UIA) has predicted a significant decline in both foreign direct investment (FDI) and domestic direct investment (DDI), particularly in tourism, transport and construction sectors, due to the economic crisis induced by the COVID-19 pandemic and shutdown. According to the “UIA Policy Paper on Boosting Investments during and post-COVID-19 Period” that was […]