Kampala, Wednesday— January 5, 2022 —Stanbic Bank Uganda has today announced the immediate availability of UGX60billion in hugely discounted ‘booster financing’ to the education sector a move aimed at supporting the ongoing nationwide reopening of schools after nearly two years of inactivity. Lender to also write-off accumulated interest on loans owed by indebted private schools […]
Abidjan, 5 January 2022 – The Board of Directors of the African Development Bank Group has approved a $47.09 million grant for the first phase of Mozambique’s Pemba-Lichinga Integrated Development Corridor, a Special Agro-Industrial Processing Zone. The grant, from the African Development Fund, will help improve agricultural productivity and agribusiness development in the Niassa province by […]
Kampala, Monday, December 20th, 2021: Power distributor Umeme connected 125,000 new customers to the grid in the 11 months to November 2021. This represents a 54% growth in new connections from 57,000 recorded in the same period in 2020. “Of the 125,000 connected customers, 53,000 were self-funded and the remaining 72,000 through the Government-subsidised programme […]
The LC5 Chairperson of Busia, Mr Stephen Wasike Mugeni has asked Ugandans to buy shares in Umeme to benefit from the good performance of the Utility. Wasike, while speaking at the opening of the Busia Service Centre this week said Umeme’s performance over years was glowing and the locals should be part of the success […]
The Board of Directors of the African Development Bank Group has approved $217 million in loans to fund a project that will improve road transport services in Kenya’s northeastern region. The loans comprise $75 million from the non-concessional window of the Bank Group and $142 million from the concessional lending division, known as the African […]
Durban, 29 November 2021 – The second Intra-African Trade Fair (IATF 2021) generated a record-setting US$42.1 billion in trade and trade-related investment deals, according to the latest tally released today by the IATF Advisory Council. The latest figures captured additional data submitted by Trade Promotion Agencies of Algeria, Nigeria and South Africa. Organised by African Export-Import Bank (Afreximbank), […]
The five-year Strategy aims to increase water security and foster sustainable, green and inclusive growth and development in Africa Abidjan, 25 November 2021 – The Board of Directors of the African Development Bank has approved a new Water Strategy for 2021-2025: “Towards a Water-Secure Africa.” The five-year strategy, approved on 17 November 2021, aims to […]
Durban, 19 November 2021 – African Export-Import Bank (Afreximbank) has committed US$250 million as seed capital towards the establishment of an African Sub Sovereign Governments Network. Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank made the announcement yesterday during an inaugural conference of the Sub Sovereign Governments at the Moses Mabhida […]
Durban, 19 November 2021 – African Export-Import Bank (Afreximbank) has signed financing agreements with four Zimbabwean entities for a total of US$188,600,000. The deals, concluded during the second Intra-African Trade Fair (IATF2021) currently taking place in Durban, were agreed on Tuesday and Wednesday. The trade fair opened on 15 November in Durban and runs until 21 […]
Jinja: The Jinja City Resident City Commissioner Musoke Kyeyune has sent an alarm and called security agencies to act swiftly against vandals who are disrupting economic activity through vandalism of electricity infrastructure which is hampering investment. While addressing security officers in the region on 5th November 2021, Kyeyune said the vice was causing a major […]
Gitega, Burundi – 25 October 2021: A multinational effort to bring solar power to Burundi has been realized with the commercial operation of the country’s first-ever solar field. The pioneering 7.5 MW solar PV plant has increased Burundi’s generation capacity by over 10% and is the country’s first substantial energy generation project to go […]
Umeme has commissioned another multi-billion project in Luuka District in its quest to boost the Government’s ambitious access agenda and rural electrification. The US$ 4,205,623 (about sh15.2b) project, which involved the construction of over a 500km distribution line, with 96 transformers, will benefit up to 1,000 households. The funding is part of the $100m (about […]
Kampala, September 30, 2021 — Glovo, one of the world’s leading multi-category delivery platforms, today announced the expansion of its operations in Africa, to include Ghana and a new entry to Tunisia, bringing its current operations to a total of seven countries on the continent. Following the expansion, an estimated 6.5 million more people will […]