Liberty Life Assurance Uganda has announced a phased withdrawal from its health insurance business in Uganda, signaling a major realignment of its business priorities in East Africa. The development follows a comprehensive business review by its parent company, Liberty Group, in 2024, which saw the decision to wind down the South African operations of Liberty Health (Pty) Ltd (LH) and localize operations to markets with in-country insurance licensing. In a letter dated 19 June 2025 addressed to healthcare providers and signed by Joseph Almeida, the Managing Director of Liberty Life Assurance Uganda, the company confirmed that it would cease offering…
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In a region hungry for industrial transformation, one man is quietly forging a revolution. Sanjay Awasthi, the reclusive billionaire behind Tembo Steels, has built Uganda’s most advanced and environmentally conscious steel empire. With innovation, vertical integration, and a soft-spoken resolve, he’s proving that you don’t need noise to build a nation—just vision, steel, and heart. A quiet revolution is underway in the heart of Iganga District in eastern Uganda. At the centre of it stands a man who rarely seeks the spotlight but whose influence has reshaped an entire sector. Sanjay Awasthi, the Chairman and Founder of Tembo Steels Uganda…
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Airtel Uganda today unveiled its ground breaking AI-powered Spam Alert Service, becoming the first telecommunications provider in East Africa to offer network-level protection against fraudulent messages. This launch also makes…
East African investment firm DOB Equity has announced the appointment of Cikü Mugambi as its new investment director. Mugambi brings 15 years of investment and operational experience across Africa, with a strong track record of deploying capital into high-impact businesses. She started her career at KPMG’s audit and deal advisory teams before joining the International Finance Corporation, where she led equity investments in technology startups and venture capital funds across sub-Saharan Africa. Most recently, she served as CEO of Kobo360, a digital logistics platform. At DOB Equity, Mugambi will focus on identifying and backing local founders building scalable solutions to Africa’s most…
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Leading African private equity firms Alterra Capital backed by Nigerian Billionaire and Africa’s richest man, Aliko Dangote, and Phatisa- an equity firm, have signed agreements to acquire 100% of Java House Africa, from UK’s emerging-market investor Actis, for an undisclosed sum. A statement released by the two equity firms yesterday notes that the investment marks a significant milestone in Java House’s growth journey, reinforcing its position as a category leader on the continent. Founded in 1999, Java House has grown into a household name, offering high-quality coffee and a diverse menu to customers across Kenya, Uganda, and Rwanda. The company…
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Java House, a quick service restaurant chain in Uganda and other East African countries is set to change ownership for the fourth time in a space of a decade with the transaction awaiting approval from the Comesa Competition Commission. Alterra Capital Partners, an Africa- focused equity firm is set to acquire Java House from Actis International, a U.K based limited liability company registered in accordance with the laws of England. Actis holds an investment fund under the Actis LLP, a Mauritian investment holding company,which through its subsidiaries, is involved in the fast food and restaurants business, operating the Java House…
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The Nation Social Security Fund (NSSF) has announced its earnings increased by 16% from UGX 2.2 trillion to UGX 2.53 trillion for the Financial Year ended June 30th 2024. The Fund is therefore set to pay a competitive interest rate to its savers which will be declared by Finance Minister, Matia Kasaija at the 12th Annual Members Meeting on August 26th. Addressing the media at the NSSF Annual Media Roundtable, NSSF Managing Director Patrick Ayota attributed the growth to an increase in interest income earnings, dividend income as well as real estate income. “Income from all three asset classes we…
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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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