Uganda and the European Union (EU) have deepened their commitment to strengthening trade and investment ties, focusing on Agricultural Technology (AgriTech) and Sustainable Mining as key drivers for economic growth. The Uganda-EU Business Insights 2025, held at Mestil Hotel in Kampala, provided a high-level platform to accelerate European investments in Uganda’s agriculture and mineral sectors, while addressing policy frameworks, trade facilitation, and technology transfer. Leading the discussions were EU Ambassador to Uganda, H.E. Jan Sadek, Private Sector Foundation Uganda (PSFU) Chairman, Humphrey Nzeyi, and key government ministers: Hon. Matia Kasaija (Minister of Finance, Planning, and Economic Development), Hon. Phiona Nyamutoro…
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Silvia Nyambura Smart Telecom has become the 7th player to join Uganda’s competitive telecom sector after having bought off Sure Telecom’s operations in Uganda as well as established in Tanzania and Burundi in a US$ 300 million investment. The telecom which is owned by the Aga Khan Group under the Aga Khan Fund for Economic Development (AKFED) launches months after an online campaign that aimed at getting the public to pick a name for the company in what they termed as an innovative customer focused idea. Addressing the media at the launch event held at the company offices in Kampala…
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Silvia Nyambura In fulfilling part of its corporate social responsibility, Vivo Energy the distributers of Shell products in Uganda has introduced a road safety education program to raise awareness in a bid to reduce road carnage. The program which it is running in partnership with the Uganda traffic police , schools and Safe Kids Uganda aims at training over 2400 boda boda riders and school children in a bid to inculcate a road safety culture among them through increased awareness. Vivo Energy MD Hans Paulsen said 1.3 million people die in road accidents annually on a global scale while Uganda…
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By Our Reporter According to a just released Wealth Report compiled by Knight Frank on wealthy individuals in Africa, the number of multi-millionaires in Africa will grow at a faster rate than anywhere else in the world over the next 10 years. The report says Africa also leads the way in Knight Frank’s Luxury Hotspot research, which identifies the areas of growth for luxury brands over the next ten years. The number of Ultra High Net Worth Individuals (UHNWIs) (individuals with more than US$30m or more in net assets) across the world has grown by 59% since 2003, but in…
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By Patrick Kagenda Gayaza high school in Wakiso district , has been named among the finalists in the Microsoft in Education Global Forum. This follows the school succeeding in pitching their idea on how to transform education using technology after the school attained the Microsoft Mentor School status. Gayaza High School’s winning idea dubbed the ‘E-Market library’, is an online library page with links to videos showing the processes of production within the small scale local enterprises in Uganda and where they are located. The online library is expected to serve the purpose of marketing local businesses alongside giving youth…
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Silvia Nyambura MTN Uganda’s biggest telecoms operator by subscriber base has registered a 17.9 percent increase in revenues to record Ushs 1.86 trillion for the year ending December 2013 compared to Ushs 1 trillion in December 2012. The encouraging performance was attributed to continuous increase in data as well as outgoing voice revenues. According to the company CEO Mazen Mroue, data revenues grew by 51.7 percent to record Ushs 76 billion in 2013 compared to Ushs 64 billion in 2012. “Data subscription grew by 124 percent while mobile data revenues grew by 159 percent. Currently we have 2.5 million internet…
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By Patrick Kagenda Citadel Capital the leading investment company in Africa and the Middle East, has announced its standalone financial results for the fourth quarter and full year 2013, reporting a net profit of US$ 1.51 million on revenues of US$ 18.19 million for FY13. Commenting on the performance, Citadel Capital Chairman and Founder Ahmed Heikal said, “Prudent management mitigated risk across the board in 2013 at Citadel Capital as a standalone entity and across our portfolio of core and non-core investments.
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By Our reporter Uganda will on April 3-4, 2014, hold a two day investment summit with an aim of providing a one stop platform for close interaction between the government and business leaders. According to Christopher Higgins, the Chief Executive Officer of CWI Summits, the organizers of the summit, the summit aims to showcase Uganda’s investment potential in key sectors where numerous opportunities abound singling out sectors like Mining, ICT, Tourism, Energy, Agriculture, Investment banking, Manufacturing, and Infrastructure. “During the Summit, investors and businesses wishing to begin or expand their operations in Uganda will have the opportunity to meet with…
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By Taddewo Senyonyi Furniture makers in Uganda are steadily losing market as imported furniture floods the market putting at stake jobs of thousands of artisans. It is estimated that 60 percent of all upmarket furniture sold in Uganda is imported and is two to three times cheaper than locally made alternatives. Eve Zalwango, founder of Awaka furniture store in Uganda says locally made high end furniture is beyond the reach of the majority whose annual incomes in Uganda for example, average about US$500. “Another challenge in reaching the local community is the time it takes to make custom made pieces…
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By Patrick Kagenda Shortly after the Britam Board of Directors holding their general meeting in Kampala and appointing a new CEO for their Uganda field in a bid aimed at strengthening Britam`s position in Uganda, Britam insurance`s new CEO Alan Mafabi is talking tough on how he is set to revolutionise the Ugandan insurance industry. Despite insurance penetration in Uganda being quite low at around 0.8% of the GDP according to industry sources, Mafabi is basing his growth plans on the growing middle class as well as developments in the oil and gas sector that present the insurance industry with…
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