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The Uganda Shilling under pressure against the USD on Wednesday

KAMPALA, Uganda–The Uganda shilling traded broadly stable though under pressure against the U.S dollar as the energy and manufacturing sector exerted weight on the greenback supply counters on Wednesday. The USD/UGX pair closed unchanged at the 3685/3705 levels. Market sentiment is inclined to a bearish outlook for the resident currency as anticipated continuous greenback demand […]

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Tanzania oil firm offers shares

DAR ES SALAAM, Tanzania–Swala Energy, an oil and gas exploration firm, will soon sell some shares in an Initial Public Offering so as to list on the Dar es Salaam Stock Exchange (DSE). This will be done through the DSE micro-finance window, Economic Growth Market (EGM).The energy firm’s prospectus awaits Capital Market and Securities Authority (CMSA) […]

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Tanzania electricity supply to improve

DAR ES SALAAM, Tanzania – Felchemi Mramba, the acting Managing Director of Tanzania’s electiricty utility, TANESCO has said power rationing was eased last year following the improvements of gas supplies at the Songosongo generation plants to Dar es Salaam. Speaking late last year, he said  almost 85% of all the maintenance work on the gas […]

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Tigo gets Global Mobile Money Certification

  DAR ES SALAAM, Tanzania – Tigo Tanzania’s mobile financial services business, Tigo Pesa , has received the GSMA Mobile Money Certification, recognizing Tigo’s ability to deliver safe, transparent, reliable and more resilient services that promote consumer rights and prevent malicious transactions.   Tigo Pesa is amongst the first mobile financial services providers around the […]