Business

Kampala, Uganda | THE INDEPENDENT |  British renewable energy firm, BBOXX, has secured $31 million investment from the Africa Infrastructure Investment Managers (AIIM) fund for African expansion. The firm said it will also use the cash to roll out its solar platform that incorporates photovoltaics, battery systems, real-time analytics and the …

Kampala, Uganda | THE INDEPENDENT |  Sanlam Kenya now wants directors of companies that defaulted on Ksh1.15 billion through corporate bond issues held personally liable for “misleading” the investment firm, according to Business Daily. CEO Patrick Tumbo said the company will take legal action against firms such as Kaluworks, a …

Kampala, Uganda | THE INDEPENDENT | Uganda and Tanzania have agreed to complete and sign a Host Government Agreement for the East Africa crude oil pipeline by end of June this year. The new deadline comes after week-long negotiations between Ministers from Tanzania and Uganda. The protracted negotiations at Kampala …

The real cost of the digital cryptocurrency’s fall from grace Kampala, Uganda | THE INDEPENDENT | Bitcoin hit its highest valuation a year ago, reaching above £15,000 on some exchanges. Since then, a unit of the cryptocurrency has dropped 80% and is valued at less than £3,000. According to Sky …

ANALYSIS: Bitcoin is often confused with blockchain which is the technology on which the cryptocurrency is based Kampala, Uganda | Morris Borris Atugonza | A blockchain is a database that is shared across a network of computers. Once a record has been added to the chain it is very difficult to change it. …

Coca-Cola, Pepsi tout plastic recycling in rare joint appearance Davos, Switzerland | AFP |  The bosses of Coca-Cola and Pepsi promised Thursday that “huge progress” would be made by 2030 to reduce plastic waste, which contaminates humans, wildlife, and oceans. Soft drink archrivals James Quincey and Ramon Laguarta participated in …

Kampala, Uganda | THE INDEPENDENT | Ugandan and Tanzanian officials are meeting in Kampala for another round of negotiations on the Host Government Agreement for the East Africa Crude Oil pipeline. Sources at the Energy Ministry have indicated to URN that about four Ministers from Tanzania are already in Uganda for …

Kampala, Uganda | AFP | Ugandan police on Thursday announced the expulsion of another foreigner working for telecom giant MTN, following the deportation earlier this week of two of the company’s expatriate staff. MTN Uganda’s general manager for mobile money Elsa Mussolini, an Italian citizen, was forced out of the …

London, United Kingdom | AFP | Real Madrid have knocked Manchester United off the top of Deloitte’s Football Money League, but the Premier League still flexed its financial muscle, with all of England’s ‘Big Six’ featuring in the top 10 for the first time. The Deloitte list ranked clubs on how …

  President to MTN, ‘Float shares on local stock exchange to correct trade deficit’ Davos, Switzerland | THE INDEPENDENT | President Yoweri Museveni has said government and business leaders must have a win-win formula devoid of exploitation of the local people to avoid grievances between locals and foreign investors. “We …