Ugandans applying for temporary visit and tourism visas to the United States of America will now be required to post a visa bond, following a new policy introduced by the…
In a sweeping diplomatic shake-up that has resonated across continents, the Trump administration is recalling nearly 30 U.S. ambassadors and senior career diplomats from posts around the world, a move…
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…
A November 2025 RMB white paper titled Continent at a Crossroads has warned that Africa is entering a decisive decade. The choices governments, firms, and regional blocs make will determine…
How do you rate Uganda’s performance with MTN’s continental portfolio, both in digital adoption but also returns, compared to other African markets? Yes, as MTN, we are operating in 16…
Stanbic Bank Uganda has clinched the prestigious title of “Most Admired Financial Services” Brand at the 2024 Brand Africa Awards. The recognition was announced during a high-profile event held recently in Nairobi, Kenya, which celebrated Africa’s leading private and public organizations. The accolade comes from Brand Africa, an intergenerational movement established in 2011 to inspire a brand-led renaissance across the continent, aimed at enhancing Africa’s competitiveness and creating a positive global image. The annual awards, based on extensive research across the continent, recognize brands that are most admired by consumers, both locally and globally. The brand Stanbic Bank Uganda is…
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Prudential Uganda has partnered with Standard Chartered Bank to offer comprehensive insurance solutions. The partnership was officially launched in the presence of key leaders from both organizations, reflecting a shared vision for providing accessible and long-term financial security for Ugandans. The partnership was officially launched at an event graced by senior leaders from both companies. Among those present were Sanjay Rughani, CEO of Standard Chartered Bank Uganda, Tetteh Ayitevie, CEO of Prudential Uganda, Emmanuel Mokobi Aryee, CEO of Prudential Africa, and Achumile M. the Regional Chief Officer of Commercial Operations and Strategy for Prudential Africa. These leaders shared insights on…
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South African fintech start-up Omnisient has received a $7.5 million investment from Arise, a company that invests in African financial service providers and fintechs that advance financial inclusion. Founded in December 2019, Omnisient is a privacy-preserving data collaboration and insights platform that allows the owners and users of consumer data to collaborate to extract commercial insights without compromising consumer privacy. The technology provides a controlled, secure environment in which data can be analysed. Omnisient’s innovative approach to preserving privacy while enabling retailers, financial services and healthcare firms to collaborate on consumer intelligence has earned numerous accolades, including ‘winner for social…
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In a move that sparked widespread controversy, the Kenyan government recently announced a $2.047 billion deal with Adani Airport Holdings Ltd., an Indian conglomerate founded by Gautam Adani, to expand and operate the Jomo Kenyatta International Airport (JKIA) for 30 years. The deal, known as a “build, operate, transfer” agreement, would see Adani invest in upgrading the airport’s infrastructure, including constructing a new passenger terminal, improving taxiways, and potentially building a second runway. The agreement was approved by the Kenya Airports Authority (KAA) despite experts advising the government to put out a public tender for the expansion project. Instead, the…
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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,…
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Jumia Technologies AG, Africa’s e-commerce giant, has reported its financial performance for the second quarter of 2024, revealing a complex interplay of challenges and strategic responses. The company’s revenue for Q2 2024 stood at $36.5 million, marking a significant decline of 25% from the previous quarter and 17% from the same period last year. This downturn is reflective of broader economic challenges, particularly currency devaluations in key markets like Nigeria and Egypt, which have adversely impacted both purchasing power and operational stability. Financial Performance Overview. Jumia’s Gross Merchandise Value (GMV) also showed a decline, falling to $170.1 million in Q2…
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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…
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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…
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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…
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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…
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