Asahi Group Holdings, the Japanese brewing and beverages giant, has picked Absa Bank Kenya PLC, ENS Africa, A&O Shearman and Nomura Holdings to advise on its USD 2.3 billion acquisition…
When veteran journalist Andrew Mwenda posted a video of weary passengers stranded at Entebbe International Airport, his words cut deeper than the images themselves. “The tragedy happening at Uganda Airlines…
Kenya Gov’t to Sell 15% Safaricom Stake to Vodacom in KShs 241 billion (UGX 6.5 Trillion Deal) The Kenyan government Kenya has officially begun the process of selling a 15…
They say actions speak louder than words, and with Paloma Lengema at the helm, BIC’s impact is clear, sharp, bold, and lasting like the iconic Cristal pen. Rising through BIC’s…
When Dr. Layi Fatona took the stage at the Stanbic Bank East Africa Economic Summit in Kampala, there was a certain stillness in the room — the kind that precedes...
The Rwandan government has renewed its commitment to promoting electric mobility by extending the zero-rated import duty on electric and hybrid vehicles until the end of the fiscal year 2024/25. This decision, announced by the Ministry of Finance and Economic Planning, aims to accelerate the transition to electric vehicles (EVs) and reduce greenhouse gas emissions. Rwanda first introduced the zero-rated import duty on electric vehicles in April 2021 during a cabinet meeting held on April 15. This initiative was part of a broader strategy to enhance electric mobility in the country, which included various incentives for electric vehicles, plug-in hybrids,…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
The Bugesera International Airport, located about 40 kilometres south of Kigali, is making significant strides in its construction, with ground-level facilities and infrastructure now reported to be 85% complete. Managed by Aviation Travel and Logistics (ATL), a government-owned entity, the airport is envisioned as a pivotal hub for aviation in Africa, with an estimated investment of over $2 billion. Currently, the groundwork includes essential components such as substations, taxiways, runways, drainage systems, earthwork platforms, aircraft parking areas, connecting taxiways, and internal service roads. The CEO of ATL, Jules Ndenga, indicated that the next phase of construction, which encompasses the passenger…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
A new credit ratings company tailored to Africa’s sovereign borrowers is set to launch next year, according to Albert Muchanga, the African Union’s commissioner for development, trade, tourism, industry, and minerals. This initiative stems from a growing recognition of the unique challenges faced by African nations in securing fair credit ratings from established international agencies like Moody’s, Fitch, and Standard & Poor’s (S&P). Credit rating agencies, particularly Moody’s, Fitch, and S&P, play a crucial role in assessing the creditworthiness of borrowers, including governments, corporations, and financial products. These agencies analyze the ability of borrowers to meet their debt obligations and…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
In a major coup, Uganda has been named the “Best Investment Destination in Africa” at the prestigious Annual Investment Meeting (AIM) held in Abu Dhabi, United Arab Emirates. This marks the second consecutive year that Uganda has been recognized for its outstanding performance in attracting foreign direct investment (FDI). The AIM Congress, now in its 13th edition, is a globally renowned event that brings together high-profile government officials, private asset owners, and project promoters from around the world to discuss the latest trends and opportunities in emerging market FDI. Held under the theme “Adapting to a Shifting Investment Landscape: Harnessing…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
The EAVCA (East Africa Venture Capital Association) is the primary industry association for East Africa’s private equity and venture capital ecosystem. It was founded in 2013 to represent the private equity industry in East Africa, provide a voice for industry players, and promote private capital investment in the region. Since it was founded in 2013, it has tracked private capital investments in East Africa. After celebrating a decade in operation in 2023, EAVCA released a report highlighting the impact of private capital in the region. Over the last decade, private capital has become more available for entrepreneurs partly through awareness…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
Mastercard Foundation has appointed Kenyan business executive, Carole Wamuyu Wainana to its Board of Directors. Carole joins Mastercard Foundation on the back of a tremendous 35-year career as a business leader in Africa, Europe and the USA. She joins a board that includes Zein Abdalla, the retired president of PepsiCo, Ellen Johnson Sirleaf, former president of Liberia and 2011 Noble Peace Prize winner, Louise Arbour, CC, the former Justice of the Supreme Court of Canada and Jay Ireland, the retired president and CEO of General Electric Africa among others. “I am delighted to welcome Carole Wainaina to our Board of…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
The Yield Uganda Investment Fund, managed by Pearl Capital Partners, has announced the successful equity investment exit from Enimiro, a Ugandan vanilla processor and exporter. This exit, the first of 15 investments, marks an important milestone for the fund, which has been committed to driving sustainable growth and social impact in Uganda’s agricultural sector since its inception in 2017. Enimiro, a company based in Jinja, Uganda, has established itself as a key player in the organic agricultural products market, specializing in the processing and export of vanilla, arabica coffee, dried pineapple, and jackfruit. The company’s unique business model connects smallholder…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
Uganda is set to host the 8th edition of the East Africa Venture Capital Association (EAVCA) Annual Private Capital Conference on the 13th of June 2024 at Speke Resort Convention Centre in Munyonyo. “As we embark on the journey of defining the next era of East Africa’s investment landscape, the East African private capital landscape stands out as a beacon of resilience and opportunity. In the face of unprecedented global challenges, East Africa has demonstrated its ability to adapt and thrive, emerging as an increasingly attractive investment destination for private capital,” says a statement on the conference’s website. The theme…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
Forbes Africa released its annual list of Africa’s billionaires with its 2024 class of 20 billionaires now worth $82.4bn. Collectively, these billionaires would be the 18th richest person in the world sandwiched between Indian Gautam Adani ($84bn) and Walmart heir Jim Walton ($78.4bn). For yet another year, Forbes does not feature any Ugandan. But Uganda isn’t the only country that is not represented here. The 20 billionaires come from just 7 countries. Forbes recognises that Africa is one of the “toughest places to build and hold onto a billion-dollar fortune” due to various factors like scepticism from global investors, strained…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
Rwanda is set to commence the construction of its ambitious Kigali Innovation City (KIC) in September 2024 after key details regarding the project’s financing were agreed upon on the sidelines of the Africa Development Bank (AfDB) Annual Meeting in Nairobi, Kenya. The $300m project was agreed upon by Rwanda’s Finance and Economic Planning Minister Uziel Ndagijimana and the Africa50 CEO Alain Ebobisse. Africa50, the continental infrastructural financier of which Rwanda is a member, will make its biggest investment in this project and will be joined by the Arab Bank for Economic Development (Badea). Badea will fund the construction of the…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
