Business

Johannesburg, South Africa | AFP | The head of South Africa’s state-owned power company Eskom has announced his resignation in a corruption scandal that has embroiled President Jacob Zuma. Brian Molefe became the first person to step down after a report released last week raised allegations of corrupt links between …

VIDEO: Government of Uganda has lifted the ban on ‘exportation’ of labor to Middle East countries which were imposed after various complaints of sexual harassment and torture. According to the Minister of gender, labor and social development Janat Mukwaya, the agreement will include fully paid-up insurance and assurance fee of 50,000,000 from …

The economy isn’t in such a bad shape as earlier thought, the International Monetary Fund (IMF) has said in its latest assessment. Speaking at the conclusion of a two-week’s 7th review of Uganda’s economic programme under the Policy Support Instrument (PSI), Axel Schimmelpfennig, the IMF Mission chief, said the country’s prospects …

Mumbai, India | AFP | Months of planning by a select few sworn to secrecy and then cash-laden trucks on the streets. But this was no bank robbery — rather an audacious plan to issue new notes across India. There are 1.25 billion people in India but only a handful …

Paris, France | AFP |  Donald Trump, the real estate mogul, reality TV star and US president-elect whose worth Forbes estimates at $3.7 billion, joins an ultra-elite group of billionaire business tycoons who have come to power through the ballot box. Other political leaders who first made fortunes in businesses …

Mexican peso slumps to record low against dollar Hong Kong, China | AFP | Markets went into free fall Wednesday and the Mexican peso tanked as Donald Trump appeared to be moving into the lead in the race for the White House. Safe haven assets rallied as investors went running …

New Delhi, India | AFP | Indian Prime Minister Narendra Modi ordered the withdrawal of 500 and 1,000 rupee notes from circulation on Tuesday in a shock announcement designed to tackle widespread corruption and tax evasion. Modi said that while people could exchange their old notes for new bills at …

Bangalore, India | AFP |  British Prime Minister Theresa May said Tuesday there was a “world of opportunities” for post-Brexit Britain in India, as she donned a saree during a temple charm offensive in Bangalore. May said that Britain would not need to ease visa restrictions — a key demand …

Once again Rwanda has recorded improvement in its global ease of doing business ranking. It is the sixth year in a row that Rwanda is maintaining a high ranking in the World Bank index which rates countries on how easily a business can be set up and how it is …

Better business climate Uganda’s ranking in the 2017 World Bank’s Ease of Doing Business has improved by seven places, a development that shows that ongoing business environment reforms being implemented by the government are starting to bear fruit. Uganda now ranks 115th out of the 190 assessed economies, which is …