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Cabinet approves two oil exploration licenses in Albertine

Kampala, Uganda | THE INDEPENDENT | The Cabinet has finally given green light to the energy ministry to grant exploration licenses and sign production sharing agreements (PSA) for two oil exploration blocks in the Albertine Graben. According to the minister of state for National Guidance, Godfrey Kabbyanga a cabinet meeting held …

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Ugandan engineers head to Turkey soon to discuss new SGR

CONFIRMED: Uganda writes to Chinese firm to cancel $2.2bn SGR railway line building contract, turns eyes to Turks  Kampala, Uganda | THE INDEPENDENT | Government has written to the China Harbour Engineering Company (CHEC) seeking to cancel an eight year old $2.2bn Standard Gauge Railway (SGR) contract. According to a high level source …

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Egypt’s currency halves in value in 10 months

Cairo, Egypt | Xinhua |  The Egyptian pound further declined against the U.S. dollar on Wednesday, plunging to below 31 pounds to the dollar before settling at 29.7 in the afternoon. The Egyptian local currency has lost about half of its value since March 2022, when a dollar was worth …

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Farmers resume selling coffee to Bugisu Cooperative Union

Mbale, Uganda | THE INDEPENDENT | Bugisu Cooperative Union-BCU has stocked 2000 tons (2 million Kilograms) of Arabica Coffee, which is double the total kilograms of coffee the union bought between 2018 and 2021. Rodgers Wandulo, an official in the BCU marketing department attributed the huge boost to the good leadership …

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