Kenya Govt approves Sh600Mn Payment to Uchumi suppliers in Tanzania Uganda
Kenya Government through parliament has approved a total of Ksh600 million for payment of Uchumi Supermarket suppliers in Tanzania and Uganda who were left stranded when the retailer closed its operations in the [...]
Uganda Parliament demands review of $13B SGR after finding that Ethiopia's cost $3.4B
A Ugandan parliamentary committee has demanded a complete review of the Uganda-Kenya Standard Gauge Railway Project. Committee members recently visited railway lines in Ethiopia and Djibouti, and found that costs [...]2016 FDI into Africa Fell by 5% to $51 Billion
According to a recent report by UNCTAD, FDI flows into Africa declined by 5% to US$ 51 billion in 2016. The decline was largely attributed to low level of commodity prices which [...]Shelter Afrique MD James Mugerwa Resigns' Book Cooking allegations
Pan-African housing finance institution Shelter Afrique has announced the resignation of its Managing Director Mr. James Mugerwa with effect from 1st February 2017. This is after Mr Mugerwa was accused of dishing out [...]Dangote To Set Up Two Companies in Ethiopia for Sugar Cement Packaging
Africa's richest man, Aliko Dangote has announced that Dangote Group will set up two companies in Ethiopia which will be engaged in sugar investment and the other for producing cement bags. We are [...]Tanzania now says railway project still up for grabs
The Tanzanian government has explained that it is yet to enter into any exclusive deal with any country or company with regard to the funding and implementation of the project [...]A whooping 58 million tourists visited Africa in 2016
Africa's tourism sector in 2016 showed great recovery after two weak years, plagued by the Ebola pandemic and rampant terrorist attacks. The continent welcomed 58 million tourists, a remarkable 8% [...]Ghana's only oil refinery shut after explosion
Ghana's only oil refinery, the Tema Oil Refinery, is shut after an explosion at a newly installed 5.8-million-euro crude oil heating unit, a senior union official said on Friday. The [...]Tanzania opens $290 million public transport system in Dar
Tanzania has opened a new public transport system in its commercial capital on Wednesday, in an effort to ease the journeys of millions of commuters. A city of four million [...]IMF Boss Christine Lagarde Lands In Uganda For 3 Day Visit
The Managing Director of the International Monetary Fund (IMF), Ms Christine Lagarde on Wednesday evening landed at Uganda's Entebbe International Airport to start of her 3-day official visit to the country. She will [...]Tanzanian Asset Manager Now Eyes Kenya Ugandan Markets
UNIT Trust of Tanzania (UTT) Asset Management and Investor Services commonly known as UTT AMIS has announced plans to set up shop in Kenya and Ugandan Markets. The 11 year old [...]Fitch Downgrades Nigeria's Rating to Negative
International ratings agency, Fitch Ratings has revised the outlook on Nigeria's long-term foreign and local currency issuer default ratings (IDRs) to negative from stable, putting it at B+'. According to the [...]
