Business

  Bukavu, DR Congo | AFP |  At least 20 people were killed in a gold mine collapse in the Democratic Republic of Congo, a local minister said on Sunday. The deaths occurred overnight at a mine in South Kivu region in the east of the country, the province’s mines …

Legislators sitting on the parliamentary committee of trade recently clashed with Trade Minister Amelia Kyambadde over the presence of Chinese traders still involved in petty trade. The follow decisions reached earlier that that the foreign traders either set up bigger businesses or leave the country within 3 months. Kyambadde whose …

Residents of the eastern Uganda town of Soroti may be set to enjoy more stable and affordable power supply following the commissioning of East Africa’s largest solar power plant in the district. The $19million power plant, which is Uganda’s first gridconnected solar plant, will generate 10MW of power, with the …

The planned construction of Muzizi Hydro power Project is soon taking off  following an agreement signed between the government of Uganda and funding partners; German development bank (KfW) and French Development Agency (AFD). KfW will provide a concessional loan of € 40 million (US$42.4million) and a grant of € 5 …

Trade will be key on the agenda when Egypt’s president Abdel Fattah al-Sisi arrives in Kampala on Sunday for a one-day official visit to Uganda. Sisi, here on the invitation of President Yoweri Museveni, will be accompanied by a trade delegation from Egypt and will hold bilateral talks and joint press …

Paris, France | AFP | President Joseph Kabila and his family in the Democratic Republic of Congo have created a personal economic empire worth hundreds of millions of dollars, the Bloomberg News agency reported Thursday. “Together the Kabilas have built a network of businesses that reaches into every corner of …

VIDEO: The Central Bank has once again eased the Central Borrowing Rate by one percentage point to 12 percent. According to Professor Emmanuel Mutebile, the Central Bank governor, the reduction is aimed at keeping the domestic economic growth momentum and inflation in check. Inflation has slightly picked up in the past …

Abuja, Nigeria | AFP | Nigeria’s President Muhammadu Buhari proposed Wednesday a multi-billion dollar jump in spending designed to lift the nation out of the “most challenging economic situation” in its history. He pitched his NGN 7.3 trillion budget ($23 billion) proposal for 2017 — a 20 percent boost over …

Washington, United States | AFP | Amazon announced Wednesday it was extending its on-demand video streaming service to more than 200 markets, stepping up its challenge to Netflix as a global television network. The US online giant said its Prime Video would be available in “more than 200 countries and …

VIDEO: The Uganda Sugar Manufacturers Association has attributed the sudden increment in the retail price of sugar to the shortage of sugarcane due to concentration of all manufacturers in one part of Busoga. The concentration has increased competition for canes – leading to most factories producing below capacity. NBS’ Sam Paul …