News & Analysis

Nigeria’s Access Bank Plc set to acquire Uganda’s Finance Trust Bank

Muhereza KyamuteteraBanking & Financial ServicesGlobal NewsNews & AnalysisThe Big StoryDecember 26, 2023December 26, 2023

Access Bank Plc (Access), one of Africa’s largest banking groups, is set to acquire Uganda’s Finance Trust Bank, highly-placed industry sources have told CEO East Africa Magazine. Access Bank Plc,…

Standard Bank Group assembles an army of homegrown executives ahead of its planned game-changing East African acquisition 

Muhereza KyamuteteraBusiness & MarketsNews & AnalysisThe Big StoryDecember 26, 2023November 9, 2024

In a March 2023 interview with Bloomberg, Patrick Mweheire, the Standard Bank Group Regional Chief Executive for East Africa, told of the Group’s ambitions for the Kenyan market, revealing that…

Carrefour fined USD7.2 million by Kenyan competition regulator for choking life out of its suppliers

Muhereza KyamuteteraBusiness & MarketsNews & AnalysisThe Big StoryDecember 20, 2023December 20, 2023

The Competition Authority of Kenya, has penalised Majid Al Futtaim Hypermarkets Limited, which trades in Kenya under the brand name Carrefour, a total of KES 1,108,327,873.60 (USD7.2 million) for separately…

How will Africa’s fashion industry fair in 2024? A UN report predicts a brightly coloured future

The CEO Magazine TeamBusiness & MarketsNews & AnalysisThe Big StoryDecember 20, 2023December 20, 2023

The landmark Africa Fashion exhibition held early this year at London’s Victoria and Albert Museum, which ran from July 2022 to April 2023, was a game-changer for the global prominence…

Uganda’s troubled Karuma and Isimba Hydro Power Projects⏤ loan liability grows to a UGX 5 trillion

The CEO Magazine TeamNews & AnalysisPolitics & GovermentThe Big StoryDecember 20, 2023December 20, 2023

The Uganda Electricity Generation Company Limited (UEGCL) is staring at UGX 5 trillion outstanding loan obligations from Karuma and Isimba Hydro Power Projects.   The loan obligations arise from UGX 1.3…

PwC report: Family-owned businesses in East Africa don’t value research, innovation

CEO ReporterNews & AnalysisThe Big StoryDecember 18, 2023December 18, 2023

Most family-run businesses in East Africa have not prioritized research in order to assist them in recovering from the economic challenges brought about by the Covid-19, a recent survey by…

Centenary Group to build Uganda’s first advanced green data centre in Masaka

CEO ReporterCompany NewsNews & AnalysisDecember 14, 2023December 14, 2023

Centenary Group has emabrked on the construction of the nation’s first Tier 3 green data center in Masaka, ushering in a new digital era. The data centre will o not…

BREAKING: Jumia to close its unprofitable food delivery business this month

Muhereza KyamuteteraNews & AnalysisThe Big StoryDecember 14, 2023December 14, 2023

Jumia Technologies, a pan-African e-commerce platform, has announced plans to close its food delivery business, Jumia Food. In a statement, the company said that it “will continue to operate its…

OPINION: Planning Your Organisation’s Digital Transformation? Here Are The 8 Things You Must Know

Mark MuzindaBusiness & MarketsNews & AnalysisThought LeadershipDecember 13, 2023December 13, 2023

Organisational transformations of any kind are hard, and digital ones are harder. Studies and surveys have indicated that the success rate can be relatively low, with many reports suggesting that…

East African Crude Oil Pipeline receives first batch of 100KM line pipes from China, paving way for pipeline construction

The CEO Magazine TeamNews & AnalysisThe Big StoryDecember 12, 2023December 12, 2023

The East African Crude Oil Pipeline (EACOP) has announced the arrival of the first shipment of 100 km of line pipes at the port of Dar-es-Salaam in Tanzania.  This signals…