Kampala, Uganda | THE INDEPENDENT | BRAC, one of the largest microfinance providers in Uganda, has been transformed into a Tier 2 Credit Institution (CI) to broaden the range of financial services it provides to low-income communities. First Deputy Prime Minister General Moses Ali represented President Yoweri Museveni …
Read More »No real development in Africa without regional integration
UN’s Assistant Secretary-General Ahunna Eziakonwa is the new Director of the Regional Bureau for Africa of the United Nations Development Programme (UNDP). She spoke to Africa Renewal’s Kingsley Ighobor on issues pertaining Africa’s socio-economic development. In the recently released World Economic Situation and Prospects for 2018 report, Africa’s economic growth …
Read More »China’s vast investment in Africa hits a snag in Congo
Paris, France | AFP | China’s investment strategy of throwing money at developing countries appears to have hit a snag in the Republic of Congo as the central African nation is seeking an IMF bailout. While the funding it provided to Congo wasn’t part of the Belt and Road Initiative …
Read More »Digital tax stamps: A waste of tax payer’s money?
Studies show new initiative will merely benefit the contracted firm Kampala, Uganda | PATRICIA AKANKWATSA | On April 12, the Uganda Revenue Authority announced that it had rolled out digital stamps to combat illicit trade and seal revenue leakages. This move follows Kenya and Tanzania that have already done so. …
Read More »Businesswoman Nasasi wins Uganda’s first ‘Miss Curvy’ beauty contest
Kampala, Uganda | AFP | Nasasi Belinda, a Ugandan businesswoman, has won the east African country’s first-ever “Miss Curvy” beauty pageant, vowing to act as a role model for other women with “plus-size” figures. “I am going to be an inspiration,” an overjoyed Belinda said after winning the title in Kampala …
Read More »Parliament slashes BOU capitalization fund
Kampala, Uganda | THE INDEPENDENT | Parliament has rejected a proposal by the government to allocate sh484.2 billion to recapitalize the Bank of Uganda (BOU) , reducing it to sh200 billion. The changes were made on Friday as Parliament adopted the report by parliament’s Finance Committee on the Finance Sector …
Read More »Boeing says suffering $1 bn hit from 737 MAX crisis
New York, United States | AFP | Aviation giant Boeing has suffered a $1 billion hit to its bottom line amid the crisis over its 737 MAX aircraft after two deadly crashes that grounded the plane and halted deliveries, the company said Wednesday. Boeing also withdrew its 2019 profit forecast due …
Read More »Kenya’s hunger games
Why some Kenyans are going hungry months after a bumper maize crop | Timothy Njagi Njeru | Why are people going hungry in April after a bumper crop of staple maize was harvested last year? Distribution remains a persistent challenge when it comes to food access in Kenya. There has …
Read More »Stanbic’s new revenue stream
The bank is eyeing fin-tech, insurance, fund management and stock brokerage cash Kampala, Uganda | JULIUS BUSINGE | On April 10, Stanbic Bank might have given hope to its shareholders that they will earn more money in the near future estimated to be more than Shs300bn in net profit. The …
Read More »Museveni welcomes ‘baby’, pushes for East African airline
Kampala, Uganda | THE INDEPENDENT | President Yoweri Museveni has said he is an advocate of an East African Airways to be owned and run by the East African Community bloc to stem what he called unnecessary competition. Museveni urged East African countries to work together instead of competing in the aviation …
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