This is the largest loan that the country has borrowed from Beijing for a single project NEW ANALYSIS | MUSINGUZI BLANSHE | Uganda has started paying back a $1.44bn loan to China. However, the flagship 600MW Karuma hydropower project that the government paid for is not finished, an official tells The …
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Without reforms in decision-making at multilateral institutions, African economies will continue to be erroneously branded as poor quality investment destinations | HANNAH RYDER | Jeff Bezos, founder of Amazon and now space traveller, is famous for his observation that “your brand is what people say about you when you are not …
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Kampala, Uganda | THE INDEPENDENT | A section of members of the Physical Infrastructure Committee want tolling on the Kampala- Entebbe Express Highway to start after the 2021 general elections. Uganda acquired US 350 Million Dollars (approximately 1.2 Trillion shillings) from the Exim Bank of China to construct the Kampala-Expressway. The …
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Kampala, Uganda | THE INDEPENDENT | The Parliamentary Committee on National Economy has approved a loan request of 1.7 Trillion shillings (USD 456.37m) for the upgrade and construction of national oil roads. The loan request was presented in May this year by the Minister of State for Finance in Charge …
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Kampala, Uganda | THE INDEPENDENT | Government is yet to utilize over 4 trillion shillings meant for electricity projects throughout the country. According to the loan performance report of the Ministry of Energy and Minerals Development on loans under the sector, presented before the National Economy Committee in Parliament, …
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Kampala, Uganda | THE INDEPENDENT | The procurement of road tolling equipment for the Entebbe Expressway is ongoing, to pave the way for full-scale utilization of the facility. This is according to Edward Ssimbwa, the commissioner for Public Infrastructure at the Ministry of Works and Transport. The four-lane toll highway …
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The bank’s assets grew 15% to $15 billion in 2018 Kampala, Uganda | ISAAC KHISA | Shareholders of Africa Import-Export Bank (Afreximbank) are set to earn $69million as dividends following record growth in profits in 2018. Last year, shareholders earned $57.53million. The decision was reached during the Annual General Meeting …
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Kampala, Uganda | THE INDEPENDENT | Ugandan traders expecting to use the Standard Gauge Railway to transport their merchandise from Mombasa to Kampala should forget it for now as the funder doesn’t want to commit money before he is sure that the Kenyan line will reach Malaba border. Uganda had hoped …
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Kampala, Uganda | THE INDEPENDENT | Government has through the Rural Electrification Agency-REA made over 92,500 electricity connections across the country, according to the Energy and Mineral Development Minister, Eng. Irene Muloni. She was updating the country on the promises made by the National Resistance Movement-NRM in its 2016-2021 election …
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Kampala, Uganda | THE INDEPENDENT | The government will start repaying the Kampala-Expressway loan in July. The loan worth US 350 Million Dollars (approximately 1.2 Trillion shillings) was acquired from the Exim Bank of China. In May 2011, government through Ministry of Finance signed a loan agreement with the Exim Bank …
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