Business

Kampala, Uganda | THE INDEPENDENT |  Tugende, the innovative fintech platform for MSME credit and asset-financing in East Africa, closed in Q2 pre-Series B equity funding  from existing shareholders led by Partech and two new investors, including Women’s World Banking. The new investors add to the diversity of Tugende’s shareholding …

SPECIAL FEATURE | THE INDEPENDENT | TotalEnergies answers the most frequently asked questions relating to Tilenga & EACOP projects in Uganda and Tanzania. ******** QUESTION: Why is TotalEnergies embarking on the Tilenga and EACOP projects when scientists from the Intergovernmental Panel on Climate Change, the International Energy Agency and the …

Africa startups have defied a slump in global venture capital funding, raking in a record US$ 4 billion in the nine months ending September, just US$ 500 million short of surpassing its total 2021 haul SPECIAL FEATURE | BIRD STORY AGENCY | Africa’s VC scene remained resilient in spite of …

Anti-corruption Unit Investigates Missing UGX 208M PDM Fund In Nwoya Nwoya, Uganda | THE INDEPENDENT |  The State House Anti-Corruption Unit is investigating how Sh208 million that was meant for the implementation of the Parish Development Model (PDM) in Nwoya district was diverted to other activities. This is part of …

Nairobi, Kenya | Xinhua |  Affected by foreign investors’ flight in the wake of rate hikes in the United States, the Nairobi Securities Exchange has returned to lows last seen at the peak of the COVID-19 pandemic in 2020, reported the Kenya-based newspaper Business Daily. The U.S. Federal Reserve benchmark …

Kampala, Uganda | THE INDEPENDENT | MTN Uganda together with its partners Huawei, Stanbic Bank, New Vision, Rwenzori, NBS TV and KCCA – the host city, have announced the 2022 edition of the MTN Kampala Marathon, which shall take place on November 20, 2022 under the theme; “Run for Babies”. …

O End of Game Store in Uganda: The external maneuvers behind the move Kampala, Uganda  | THE INDEPENDENT | News of the impending closure of the Game Store at Uganda’s biggest all merchandise shopping point; the Lugogo Shopping Mall in Kampala, has added more cold wind on an already chilly …

Paris, France | Xinhua | Strikes in France’s major refineries continued on Monday, leading to fuel-related panics in the country. The strikes at TotalEnergies and ExxonMobil refineries will extend to Tuesday, the General Confederation of Labour (CGT) said. According to the Ministry for Energy Transition, 29.4 percent of service stations …

Kampala, Uganda | THE INDEPENDENT |  Multiple violent robbery suspect Charles Olim commonly known as Sipapa together with his wife Shamirah Nakiyemba have hired new lawyers to represent them in the case in which they are accused of aggravated robbery. The lawyers from Wameli and Company Advocates led by Geoffrey …

Nairobi, Kenya | Xinhua | Kenya’s foreign exchange reserves declined by 12.5 billion shillings (about 103 million U.S. dollars) this week to hit a five-year low as the shilling fell to the lowest level in history against the dollar, the Central Bank of Kenya said in its weekly update of …