Business

Kampala, Uganda | JULIUS BUSINGE | Bank of Uganda (BOU) Deputy Governor Louis Kasekende has advised accountants in Uganda to borrow and adapt international standards in their bid to positively contribute to nation building. “They must look at international standards that are released by their international body and…then adapt them to Uganda,” Kasekende said, …

Johannesburg, South Africa | AFP |  Business confidence in South Africa has plummeted to its lowest level in more than 30 years as political uncertainty, unemployment and dwindling trade weighed heavily, a survey showed Wednesday. South Africa’s economy, which is the most developed in Africa, is plagued by sluggish growth …

Mexico City, Mexico | AFP |  Royal Dutch Shell said Wednesday it would invest $1 billion in Mexico over the next decade, after the oil giant opened its first retail gas station in the country. The investment in the world’s fifth-biggest consumer of gasoline depends on market conditions continuing to …

Kampala, Uganda | GODFREY SSALI |  Members of Parliament on the Natural Resources Committee have urged government to implement the ban on polythene bags commonly known as kaveera. Addressing the media on Wednesday, 06 September 2017, the Chairperson of the Committee, Alex Byarugaba said that National Environment Management Authority (NEMA) had failed on …

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 …