Business

Accra, Ghana | Xinhua | Ghana launched its African Continental Free Trade Area (AfCFTA) hub Monday to increase local participation in the continent-wide free trade and facilitate businesses. “The AfCFTA hub is the principal tool for aligning Ghana’s own wide-ranging digitalization policy with the various opportunities presented by AfCFTA,” said Minister …

Kampala, Uganda | THE INDEPENDENT | Liberty General Uganda and Multilines International Limited have launched the Marine and Cargo Insurance in a bid to serve more clients in line with their needs, the two companies have said in a joint statement. This follows the announcement by the Government of Uganda, through …

Kampala, Uganda | THE INDEPENDENT | The phenomenal growth of Stanbic Bank’s East Africa Borderless Banking platform has revealed a pent-up demand for secure, real-time transactions across international borders. In a statement dated Aug.29, the Bank said, the Borderless Banking solution has grown exponentially starting January 2021 to March 2022, at …

The first six months of 2022 presented a complex combination of ‘head’ and ‘tail’ winds that affected the economy | THE INDEPENDENT | Stanbic Uganda Holdings Limited (SUHL) has recorded a 4.7% growth in profit-after-tax for the first six months to June.30 to Shs162billion. This comes amidst an unpredictable operating …

The two countries are harmonizing relevant laws and approval processes to hasten pipeline construction Kamapala, Uganda | RONALD MUSOKE | Senior officials from Uganda’s petroleum authority (PAU) and Tanzania’s energy and water utilities regulatory authority (EWURA)—the agencies that have regulatory powers over the oil industry in the two countries—have renewed …

The electricity firm H1 profits increased by 33% to Shs64bn Kampala, Uganda | THE INDEPENDENT | Electricity distributor, Umeme, has withheld payment of an interim dividend to its shareholders despite recording a 33% growth in profit after tax to Shs64bn for the six months period ending June.30. The company executives …

Agago, Uganda | THE INDEPENDENT | Agago district has rejected 200 bee hives on grounds that they were procured in disregard of the formal procurement process.  The beehives were reportedly dumped at the district headquarters two weeks ago by the supplier without the knowledge and approval of the receiving committee …

Copenhagen, Denmark | Xinhua |  Denmark will expand the capacity of a renewable energy island in the Baltic Sea to secure more power links to Germany and the rest of Europe, the Danish energy ministry said on Monday. The Energy Island of Bornholm, an offshore energy hub approximately 169 kilometers …

River Nile countries push for an interconnected power grid SPECIAL FEATURE | ESPOIR IRADUKUNDA & RONALD MUSOKE |  It is 9am in downtown Bujumbura— Burundi’s commercial city, and the alleys are already crowded with buyers and sellers haggling noisily over prices of merchandise. They must shout to be heard because …

2nd African conference held on debt accountability mechanism Kampala, Uganda  | IAN KATUSIIME | Fears about growing debt in African countries led to the hosting of the second African conference on Debt and Development that happened simultaneously in five African countries. Uganda Debt Network (UDN), a national advocacy organisation on …