East Africa Metals has executed a definitive share purchase agreement and joint venture contract with Silk Road Resources Investments Co Limited for development and operation of the Adyabo project’s Mato Bula and Da Tambuk deposits in the Federal Republic of Ethiopia. Silk Road Investments is a wholly-owned subsidiary of Tibet Huayu Mining Co Limited (THM). […]
Gateway Delta, a private real estate development company with a permanent capital structure resident in Mauritius, has bought Metroplex Shopping Mall based in Nalya, a Kampala suburb. According to a press statement sent to East African Business Week by Knight Frank Uganda, the Mauritian firm bought the shopping mall for redevelopment. “The redevelopment of the […]
The Commercial Division of the High Court has issued an interim order to Nile Batteries Limited, a battery manufacturing company that was recently opened by President Yoweri Museveni in Jinja to temporarily restrain from dealing with batteries marked NBL and Nile Battery Warranty Cards. The order, that was signed by Lady Justice Anna B. Mugenyi, […]
One of Tanzania’s richest men Reginald Mengi has died. Mengi, a billionaire, philanthropist and media mogul has passed on this Wednesday night in Dubai, United Arab Emirates. Aged 75, Mengi was the leading local investor in Tanzania’s media industry, owning and running two biggest television and radio stations. He also owns the Guardian and Nipashe […]
Uganda has with immediate effect halted the issuing of an investment license to an Israel firm, Together Pharma Limited, who had reportedly secured land in Kasese to cultivate medical cannabis popularly known as marijuana on a commercial scale. According to Evelyn Anite, Uganda’s State Minister for Investment, they are still awaiting guidance from Cabinet and […]
Uganda’s State Minister for Investment Evelyn Anite has tasked the New Board of Directors of Uganda Investment Authority to attract high-quality Foreign Direct Investments saying such investments will attract decent jobs and add value. The Minister said for many years, Uganda has attracted some quack investors who, instead of carrying out investments on land freely […]
Siemens has announced that it has signed a Memorandum of Understanding (MOU) with the Federal Democratic Republic of Ethiopia to support the government’s objective of becoming a low middle-income country by 2025. The Memorandum of Understanding (MoU) addresses the country’s energy and infrastructure sectors. Other key aspects of the agreement include financing concepts that will […]
British businesses are being urged to see beyond Brexit and look to new opportunities in Africa by an architecture and engineering firm celebrating 20 years of success in East Africa. FBW Group has operations in Uganda, Kenya, Rwanda and Tanzania – but its roots are in the UK and it has a base in Manchester. […]
ABIDJAN – The Board of the African Development Bank has approved a€12.5 million equity investment in Adiwale Fund 1, a first-generation private equity fund targeting high growth potential Small and Medium Sized Enterprises ( SMEs) in Francophone West Africa. With a target fund size of €75 million, the Fund will take minority stakes in SMEs that are […]
Starting April 2019 land registration process will take a record 12 days from the current 73 according to Lands Ministry Cabinet Secretary Farida Karoney. Land registration process involves title deed search, registration of title deed, land rent clearance, clearance of land rates, consent of transfer clearance and requisition of file valuation. This automation will save […]
Electricity distributor Umeme Ltd has set aside US$70million (Ush230billion) to upgrade its infrastructure network this year despite having just six years to the end of their current concession. The company, in 2005, was given a 20 years concession to maintain, manage and distribute power in Uganda, which concession is due to end in 2025, six […]
Solar vendors under their umbrella body the Uganda Solar Energy Association (USEA) have asked the government to set up the Uganda Solar Energy Investment Revolving Fund arguing that it’s the only way that will bring down the cost of solar equipment in Uganda. The Association Chairman Emmy Kimbowa said in Kampala during the launch of […]
Taxify, the leading European on-demand transportation platform, is changing its name to Bolt and introducing a new logo. The update brings the brand identity in line with the company’s broader vision of transportation that has already expanded from ride-hailing, with cars and motorbikes, to scooter sharing. Speaking on why the company chose to make the […]