Nairobi: 16 June 2022 – Pan-Africa housing development financier, Shelter Afrique has received USD7.15 million in additional capital subscription from the Federal Government of Nigeria. · Additional capital subscription places Nigeria just one-percentage point behind top shareholder, Kenya. · The Company also received additional capital subscriptions from Swaziland (USD317,854.54) and Burkina Faso (USD34,610.00). The Additional stake now takes Nigeria’s […]
Kampala, June 8, 2022 – TotalEnergies EP Uganda has today launched the Tilenga Biodiversity Program, an initiative aimed at protecting and conserving biodiversity in and around the Tilenga project area. The Biodiversity Action Plan is hinged on four key pillars. • Reducing human pressures and strengthening the ecological resilience of the Murchison Falls protected area […]
The world’s largest insurance broker, Marsh McLennan, has broken ranks and agreed to arrange cover for the proposed East African Crude Oil Pipeline (EACOP) which will ferry the commodity from Uganda’s western oilfields to the Tanzanian port of Tanga. However, in light of the opposition to development of new carbon projects amidst mounting concerns about […]
Addis Ababa, May 23, 2022: Ethiopia’s financial markets have been boosted by a series of announcements and commitments by Financial Sector Deepening (FSD) Africa, a specialist development agency working to strengthen financial markets across sub-Saharan Africa. Launch of FSD Ethiopia and partnerships with Ethiopia Investments Holding enhances efforts to deliver beneficial development and financial outcomes […]
Nearly two years after the close to the 100-year-old iconic bell tower of the Makerere university administrative building was engulfed in flames and caused widespread public despair, First Lady Janet Museveni will today officially commission the works for its reconstruction and other projects. For decades, any mention of the ‘Ivory Tower’ has been synonymous with […]
Abidjan, 25 April 2022 – African Development Bank Group President Dr Akinwumi Adesina concluded a three-day official visit to Washington DC on Saturday. Alongside the Spring Meetings of the International Monetary Fund and World Bank, the visit included several bilateral engagements with stakeholders on African development. Adesina garnered broad strong support for a robust 16th replenishment of […]
KAMPALA, TUESDAY APRIL 14th, 2022: The Petroleum Authority of Uganda (PAU) has noted several media reports regarding air pollution from the Tilenga oil project activities in Buliisa District. The reports indicate that “community members from five villages neighbouring the oil Central Processing Facility in Buliisa District have petitioned the Ministry of Health complaining about the […]
Kampala, 13 April 2022. Equity Bank Uganda and the Uganda National Oil Company (UNOC), today, signed a Memorandum of Understanding, to facilitate and strengthen collaboration between the two entities in the areas of financing and enterprise development specifically for MSMEs, clean energy use and environmental conservation sectors. Also, financing will be supplied in support of farmers, […]
KAMPALA, April 13th, 2022: As Uganda gears up to become a regional oil-producing economy, works on the critical oil and gas infrastructure have progressed significantly. This observation was made by Dr. Ramathan Ggoobi, the Permanent Secretary and Secretary to the Treasury (PS/ST) while on a three-day working field visit to the oil and gas operational […]
Abidjan, 7 April 2022 – Tanzanian President Samia Suluhu Hassan has been named the 2022 winner of the Africa Road Builders–Babacar Ndiaye Trophy. The prize is awarded to leading figures in Africa who have demonstrated their commitment to the development of transport infrastructure on the continent. The selection committee for the award commended Hassan for her “personal […]
Godfrey Mundua, Head of Corporate Banking at dfcu Bank noted that the Bank has a range of financing solutions made to serve both the short-term and long-term business needs of Chinese businesses in a range of industries. “Whether it be Agriculture and Fishing, Manufacturing, Retail Trading or Real Estate, dfcu has both the financial ability […]
The Board of Directors of the African Development Bank Group has approved a $7.5 million trade finance guarantee facility for the Central Africa Building Society (CABS) of Zimbabwe. This approval is the first for the Bank under its new transaction guarantee instrument, which was formally launched in July 2021. The three-year tenor facility will provide […]
Johannesburg, 24 March 2022 – African Development Bank Group President Dr. Akinwumi A. Adesina has pledged his institution’s support for South Africa, announcing a $2.8 billion package for the country over the next five years. Some $400 million (ZAR 6 billion) will support South Africa’s Eskom and the country’s energy transition. Adesina was speaking at the […]