Private sector optimism picked up during February due to the reopening of schools boosting confidence of private entities, ending a two-month sequence of job cuts and leading to an improvement in the Stanbic Purchasing Managers’ Index (PMI) to 51.2 from 49.8 in January. The index is now above 50.0 signifying a positive outlook compared to […]
By: Michael Ssekyondwa, Head of Retail Banking, KCB Uganda The economy was undeniably impacted due to the COVID-19 pandemic, with many businesses closing, others struggling to stay afloat and some continually doing their best to innovate in order to recover from the heavy financial burden experienced in the year 2020. With the stock markets depreciating, […]
Radisson Hotel Group is proud to announce its first Radisson Individuals property in Africa, with the signing of Earl Heights Suites Hotel, a member of Radisson Individuals, Accra, Ghana. Located in Dzorwulu, the property is currently undergoing a full renovation and is on schedule to open within this year. Just 5km from Kotoka International Airport […]
Energy sector players in a drive to improve power supply in Northern Uganda. Northern Uganda has experienced unprecedented growth over the past years which has come along with increasing demand for electricity. Given the escalating thirst for electricity, Umeme and other sector players including UETCL, UEDCL and REA are undertaking critical projects to improve supply […]
HDPE pipe factory construction takes off in Ruiru, Kiambu County started on February 15 after the county and national government authorities gave the nod. Megapipes Solutions Limited, the latest entrant in the Kenyan market proposes to construct a factory for manufacturing of HDPE Plastic pipes, namely double-wall structured HDPE pipes (Weholite) and solid wall HDPE […]
Abidjan, Côte d’Ivoire, 17 February 2021 – The African Development Bank’s Sustainable Energy Fund for Africa (SEFA) is providing a $965,000 grant to Morocco’s Société d’Ingénierie Energétique (SIE), to support its transition into the first Super Energy Service Company (ESCO) initiative in Africa. “This support from the African Development Bank will enable the operationalization of […]
Abidjan, Côte d’Ivoire, 17 February 2021 – The Japan International Cooperation Agency (JICA) and the African Development Fund (ADF) – the concessional arm of the African Development Bank Group – on Tuesday signed a loan agreement of 73.6 billion Japanese yen ($668.1 million) to support the 15th replenishment of the African Development Fund (ADF-15). During a virtual […]
Umeme a leading power distributor in Uganda has embarked on stakeholder engagement meetings with various stakeholders across the country, starting with Northern Uganda to explain the company’s planned projects aimed at improving power reliability in the communities. The main objective of the meetings was to inform customers in the districts of Lira, Gulu, and Kitgum, […]
Kampala 11th February 2021; Uganda Baati Limited, the preferred provider of quality building construction materials in Uganda has today, unveiled SAFBUILD. SAFBUILD is a new building solution designed to reduce property development delivery time and expenses incurred by contractors and customers. The new product, SAFBUILD, was unveiled by Dr. Chris Baryomunsi, Minister of State for […]
Abidjan, Côte d’Ivoire, 11 February 2021 – The Mozambique Liquefied Natural Gas (LNG) Area 1 Project and the African Development Bank have jointly received the prestigious Global Multilateral Deal of the Year 2020 award by the print and online publication Project Finance International (PFI). The project, the single largest foreign direct investment in Africa to date with […]
Juba, South Sudan, 5 February 2020 – The African Development Bank (AfDB) is financing the construction of the second phase of the Public Health Emergency Operations Center (PHEOC) in Juba, South Sudan. The groundbreaking ceremony, held on Thursday, was presided over by Elizabeth Acuei Yol, South Sudan Minister of Health, in the presence of the African […]
Any investor intending to acquire land in Uganda’s industrial park must have a registered company, an investment license, a comprehensive business plan, solid proof of financing, and a sketch map of land utilization. Uganda Investment Authority (UIA) Director for Industrial Parks development Hamza Galiwango added that fulfilling the above conditions leads to an investor getting […]
By David Muwanga The Uganda Investment Authority (UIA) and Uganda Insurers Association signed a Memorandum of Understanding (MoU) aimed at creating an enabling environment for doing business in Uganda by especially strengthening the intersection between investment and insurance today at the Authority’s head office on Lumumba Avenue. Mr. Joseph Kiggundu, the Acting Director-General, Uganda Investment […]