Business

Rwanda’s Minister of Finance and Economic Planning, Claver Gatete, has been named Finance Minister of the Year in the Sub-Saharan category by Global Capital, an international news, opinion, and data service Gatete’s honour was announced on Oct.04 together with winners from Latin America, Central and Eastern Europe, the Caribbean, and …

American to build refinery? Deal could be blow to sanction-strapped Russians Technocrats at the Energy Ministry and the Ministry of Finance who are working on the country’s pet project, the US$4 billion oil refinery, have learnt to stay cool under pressure. Behind their cool fronts, however, they are working in …

Nairobi, Kenya | AFP |  Kenya Airways, already facing financial difficulties and a threatened pilots’ strike, cancelled five flights on Sunday after outsourced cabin crew walked off the job. While the stoppage only involved a small number of workers, it coincides with a deep malaise at the airline, which in …

VIDEO: Local pepper and chili farmers are being challenged to double their production and tap into alternative overseas markets. Pepper production in Uganda fell drastically after government announced a ban on pepper exports to the European Union. But with emerging bigger markets for Uganda’s pepper outside the European Union, the country …

Benaulim, India | AFP | Chinese President Xi Jinping said Sunday a rising tide of protectionism and anti-globalisation was endangering the world economy’s still fragile recovery as BRICS leaders vowed to forge closer business and trade ties. At a summit in the Indian tourist hub of Goa, host Prime Minister …

VIDEO:  There were sad scenes of tears and despair as fire gutted Jinja’s Napier Market. The fire that happened at around 10pm on Friday, consumed items worth millions, leaving traders in ruins. The traders blame the police fire rescue team for not responding in time. The cause of fire is yet to …

VIDEO: Kampala city traders association KACITA has vowed to take industrial action against street vendors and hawkers. The action due Monday Oct 17 is intended to disperse the operations of vendors. KACITA accuses the vendors of ruining their business with backing from KCCA. The city authority though points to defiant vendors that keep coming …

Chinese Business Community living in fear of being chased out of Uganda Trade Minister Amelia Kyambadde has asked Chinese doing business in Uganda to stop engaging in petty trade to avoid causing hostility among locals. Some Ugandan have for long complained about foreign petty traders depriving them of work. Kyambadde me …

Members of the Parliamentary Committee on the National Economy want the banking industry to do something about the sky-high lending rates. The MPs made the appeal at a meeting with the Uganda Bankers Association in Kampala on Oct.03. The MPs organised the meeting to understand why interest rates in Uganda …

Nairobi, Kenya | AFP |  South Africa and Kenya vowed Tuesday to “soften borders” between the two regional powerhouses by easing trade and visa barriers, part of ongoing efforts to boost low levels of commerce within Africa. While both nations are economic giants in their respective regions, South Africa’s Jacob …