Business

The new move will see the lender venture into non-banking business Kampala, Uganda | ISAAC KHISA | Uganda’s largest lender, Stanbic Bank Uganda, is finalising plans to become a Bank Holding Company (BHC), a step that would enable it access funding more easily but also tighten capital requirements and regulatory oversight. …

Nairobi, Kenya | AFP | Kenya’s health ministry on Tuesday announced a ban on the import and sale of certain South African processed meat products after a listeria outbreak that has killed at least 180 people. Kenya is the first nation in east Africa to ban ready-to-eat meat products from …

Kampala, Uganda | THE INDEPENDENT |  Government has shelved plans to liberalize the pension sector and will instead amend the National Social Security Fund (NSSF) Act Cap 222. According to the proposals in the National Social Security Fund Amendment Bill, 2018 to be tabled soon in parliament, NSSF will retain its …

Washington, United States | AFP | US President Donald Trump vowed Monday not to exempt Mexico and Canada from new steel tariffs without a “fair” trade deal, but his chief negotiator warned the trio’s talks were not living up to expectations. Speaking as US, Mexican and Canadian trade officials gathered …

USD9.4m Trade infrastructure at Mpondwe border to boost Uganda’s exports to DR Congo Kampala, Uganda | GODFREY SSALI | The Democratic Republic of Congo is one of Uganda’s export destinations ranking number three within the COMESA region. Uganda’s exports to DR Congo are valued at USD177m and these are mainly …

Kampala, Uganda | ISAAC KHISA | The European Investment Bank (EIB) has extended US$29.6million (€24million) loan to two local banks for financing small and medium sized firms in Rwanda. The bank signed the US$19million loan with the Development Bank of Rwanda and another one with I&M Bank of Rwanda at US$10milllion. …

Kampala, Uganda | ISAAC KHISA | Joram Nyanzi is the managing director of Kenlloyd Logistics Uganda Ltd. He spoke to Isaac Khisa about the performance and prospects of the region’s logistics industry. What is your management style as the managing director? I am a strong believer in human resource in an …

Geneva, Switzerland | AFP | Japanese car giant Toyota announced Monday that it will stop selling diesel cars in Europe, beginning the phase-out this year. “Diesel will be phased out in our passenger cars in 2018,” Johan van Zyl, president of Toyota Motor Europe, said in Geneva, where Europe’s first …

Johannesburg, South Africa | AFP | Four countries in southern Africa on Monday took steps against m imports made at a factory found to be the origin of the world’s worst-ever listeria outbreak. Mozambique and Namibia announced they were immediately suspending imports of the products. Botswana said it was recalling …

Milan, Italy | AFP | A trial for oil giants Eni and Shell over bribery and corruption allegations in the purchase of an offshore oilfield in Nigeria was delayed for two months on Monday. The trial had been set to start in a Milan court, but the judge said that, …