Los Angeles, United States | AFP | Electric carmaker Tesla has diversified into the alternative energy business, on Friday unveiling solar roofs for environmentally friendly homes. “Global warming is a serious crisis and we need to do something about that,” company founder Elon Musk said during a news conference at …
Read More »Uganda’s National Oil wins African award
Less than three months since it launched formal operations, the Uganda National Oil Company has received Africa wide recognition after winning the best National Oil Company (NOC) presentation at a recent Oil and Gas forum held in South Africa. The event was organised by Standard Bank. The conference was held …
Read More »Diane Basemera promotes the arts online
Diane founded Amooti.org, an online market place that provides easy access to African-inspired art, culture, fashion and other products over the Internet. The business gives gifted and inspired people a platform to share their talents and culture, while getting income for their work. All they need to do is get …
Read More »VIDEO: Ugandans set to witness unique wine festival
VIDEO: South African Airways is set to boost the 6th wine festival in Uganda by exhibiting a wide variety of wine brands. At least 20 wineries from South Africa will exhibit. According to Yogi Biriggwa, South African Airways country director, there is so many wine brands in South Africa that Uganda is …
Read More »ExxonMobil strikes huge oil reserves in offshore Nigeria
Lagos, Nigeria | AFP | US oil and gas group ExxonMobil says it has discovered up to one billion barrels of oil in an offshore field in Nigeria, signalling a boost to the country’s crude reserves. The company said in a statement on its website on Thursday that the Owowo …
Read More »Nakumatt Holdings admits they are looking for financial support
Following a series of speculative social media posts, Nakumatt Holdings has come out to say that “despite a number of unforeseen business challenges”, they are undertaking reforms and seeking financing that will stabilize their operations across East Africa. “We wish to reassure all our stakeholders that the business is solid despite …
Read More »IMF chief says Egypt in currency ‘crisis’
Cairo, Egypt | AFP | IMF chief Christine Lagarde said Thursday that Egypt is going through a currency “crisis,” suggesting a quick devaluation to tackle a widening gap between the official and black market rates. Egypt has been struggling to shore up its foreign currency reserves in the political and …
Read More »Clinton voices concern over AT&T-Time Warner mega-deal
Washington, United States | AFP | White House hopeful Hillary Clinton said the proposed mega-merger of AT&T and Time Warner “raises questions and concerns” and merits further study. AT&T and Time Warner, home of CNN and HBO, have said the proposed $108.7 billion deal will benefit consumers as they gird …
Read More »Even Dangote feels the pinch as Nigeria’s forex crisis hurts business
Lagos, Nigeria | AFP | Nigeria’s currency scarcity remains a nightmare that won’t go away, with even Africa’s richest man Aliko Dangote feeling the pain. The West African country’s economy has been hammered by the global crash in oil prices — worth 70 per cent of its revenue and the …
Read More »Iraq president calls for revision of law banning booze
Baghdad, Iraq | AFP | Iraqi President Fuad Masum called on Wednesday for parliament to revise a law passed over the weekend that included a provision banning alcohol. The ban on the sale, import and production of alcohol, which was slipped into a draft law on municipalities in parliament on …
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