Business

Abuja, Nigeria | AFP |  Nigeria and South Africa have both exited recession, notching up economic growth of 0.6 percent and 2.5 percent respectively in the second quarter, official data showed on Tuesday. Nigeria’s economy returned to growth after five consecutive quarters of contraction, driven by a strong performance in …

Kampala, Uganda | JULIUS BUSINGE |  Pan-African telecoms group, Liquid, a subsidiary of Econet Global has completed 100G upgrades to key routes on the East African fibre ring, top officials told journalists on Sept. 05. Officials were speaking on the sidelines of a telecom’s workshop ‘Capacity Africa 2017 at Kampala …

Caracas, Venezuela | AFP | After decades of being Venezuela’s cash cow, the state oil company PDVSA is a ragged shadow of its former self: overburdened, underfed, and in hock to Russian and Chinese creditors. The woes of the group, whose full name is Petroleos de Venezuela S.A., look set to …

  Kampala, Uganda | GODFREY SSALI |  Government is considering revising selected immigration fees to make it easy for Ugandans in the diaspora to acquire dual citizenship. Speaker of Parliament Rebecca Kadaga, while addressing the political forum of the Ugandan North American Association (UNAA) on Sunday, September 3, 2017 in …

  Li Yong, is the Director-General of the United Nations Industrial Development Organization. He spoke to African Renewal about industrial progress in Africa. As the Director-General of the UNIDO, what are the factors hindering Africa’s industrialization? The sudden drop in commodity prices caused problems because it lowered the competitiveness of …

The economic rescue initiatives can only succeed without political interference Kampala, Uganda | ISAAC KHISA | How can central banks in the East African Community boost private sector credit that has since last year slowed down?   That was one of the issues that the Central Bank Governors in the region …

Paris, France | AFP | French oil giant Total said Monday it has agreed to sell its remaining stake in a Norwegian oil field to Kuwait so that it can focus on its recent acquisition of Denmark’s Maersk Oil. “Total has signed an agreement to divest its remaining 15-percent interest in …

Performance of the economy likely to determine profitability going forward Kampala, Uganda | JULIUS BUSINGE | Dfcu bank’s net profit more than quadrupled to Shs 114bn for the six months ending June 30 after the acquisition of Crane Bank but analysts remain cautious on whether the bank will maintain the …

Paris, France | AFP | UEFA opened a formal investigation into Paris Saint-Germain on Friday after the French club broke the world transfer record to sign Neymar. European football’s governing body said it would look at whether PSG had violated its Financial Fair Play (FFP) rules. “The investigation will focus …

San Francisco, United States | AFP | Microsoft on Friday announced that a major update to its Windows operating system will be released globally on October 17. Release of Windows 10 “Fall Creators Update” will come the same day that Windows Mixed Reality headsets powered by the software hits the …