Business

By The Independent Team Mohammed Al Amoudi (Ethiopia) African Rank No.1 – World Rank No. 43 – Wealth $9 billion Ethiopian born Mohammed Al Amoudi is this year the Richest Man in Africa. Al Amoudi who is based in Saudi Arabia has kept his US $9 billion fortune through these …

By Matthew Reed As the great and good of the mobile industry browsed the exhibits at the Mobile World Congress trade show in Barcelona this week, they may have overlooked a couple of watershed moments in emerging-market telecoms. In the past week, Indian and Chinese investors have unveiled plans for …

By Patrick Kagenda The independent’s Patrick Kagenda talked to the Minister of State for Energy Simon D`ujanga on how far the work on the oil pipeline construction contracted to Tamoil has gone. Why is the price of petrol going up? The prices of the petroleum products on the market are …

By Patrick Kagenda Last year was a year of excellent results at Crane Bank. The bank achieved its highest profit levels since its inception in 1995. “Not only did the bank receive the Banker award of the year for the Sixth time in 7 years and 5 times in a …

By Agencies India’s largest telco Bharti Airtel has tied up US$ 8.3 billion from a clutch of foreign banks and State Bank of India to fund the acquisition of Zain telecom’s African assets. “Bharti Airtel is pleased to announce that the entire financing requirement of $ 8.3 billion for the …

By The Independent Team South Africa and East Africa segment posts 6% loss MTN Group last week announced an increase in revenue and subscribers for the year ended 31 December 2009, they however admitted a negative impact due to the economic crisis, the introduction of new regulations such as SIM …

By Duncan McLeod `It’s hard moving on’ It’s difficult to let go.” Phuthuma Nhleko, MTN’s group president and CEO, sounds almost rueful when I ask him why he’s decided to hang up his hat at the mobile operator. “You do a lot of soul searching,” he tells me in an …

By Joan Akello Dollar appreciation to blame Fuel pump prices again edged up slightly last week at most stations in Kampala sparking fears of price volatility. The price of petrol rose by Shs 80 per litre over last week from Shs 2,520 to 2,600 at most stations. The petrol price …

By Maya Prabhu Uganda is one of the world’s top banana-growing countries, producing as many as 10 million tonnes of the fruit each year, but the banana market is under-exploited. Its potential to act as a bastion of food-security and create lucrative openings for ambitious entrepreneurs requires innovation in the …

By Patrick Kagenda Members of the Uganda Clearing and Forwarding Association (UCFA) are fighting a new requirement for all car imports into the country to go through the government’s Inland Car Port in Mombasa. The Ministry of Trade last week announced that all car imports to Uganda must pass through …