Relief for Tanzania as Fuel Prices Decline Further
The national regulator, the Energy and Water Utilities Regulatory Authority (Ewura), has announcedthe wholesale and retail prices of petrol and diesel have been reduced in Tanzania this month. According to [...]
IMF Directs Rwanda’s National Bank to Raise Interest Rates to Control Surging Inflationary Pressures
The International Monetary Fund (IMF) has directed Rwanda’s National Bank (NBR) to increase interest rates as a measure to control the escalating inflationary forces in the economy. This action is [...]
Kenya-Rwanda Signs 10 MoUs To Advance Peace, Investment
Kenya and Rwanda have officially signed the Memorandum of Understanding to collaborate and strengthen their relations. This agreement aims to promote cooperation and mutual benefit between the two countries. The [...]Umeme Limited Posts a Net Profit $ 38.9 Million in 2022
Umeme Limited (UMME) has announced a net profit of $ 38.9 million (Ushs 148 billion) for the financial year that ended on December 31st 2022, 6.47 per cent increase from [...]East African Community Extends Single Currency Implementation Deadline to 2031
The Central Bank Governors of East Africa have decided to extend the adoption of a single currency by 2031, as the initially proposed deadline of 2024 was deemed unfeasible. At [...]US Firm Titan Lithium Expands Operations in Tanzania, Finds Lithium Deposits with High Grades near Mt Kilimanjaro
Titan Lithium Inc, a US-based company, plans to expand its operations in Tanzania following the discovery of lithium deposits in the region. The company has found lithium deposits in two [...]French Court Dismisses Case Against TotalEnergies Over Oil Projects in East Africa
The French court has dismissed a legal case against TotalEnergies regarding their oil project in Uganda and Tanzania that several NGOs had initiated. The plaintiffs, comprised of six non-governmental organizations, [...]IMF to Grant Tanzania $151 Million Loan to Boost Economic Recovery
The International Monetary Fund (IMF) is set to grant Tanzania a $151 million loan to boost its economic recovery amidst headwinds from global shocks that have slowed growth. The amount [...]EAC Secures KES 1.5 Billion Funding for Feasibility Study of Key Road Project
The East African Community (EAC) has secured US$1.4 million (KES 1.5 Billion) for a feasibility study on a key section of the Northern Transport Corridor linking the Republic of Kenya [...]Starlink, SpaceX’s Satellite-Based Internet Service Receives License in Rwanda
The Rwanda Space Agency (RSA) has announced that Starlink has received permission to offer internet and high-speed connectivity services to Rwanda through its constellation of Low Earth Orbit (LEO) satellites. [...]Ethiopia Signs $745 Million Financing Agreements with World Bank
Ethiopian Ministry of Finance and the World Bank have signed two agreements for $745 million to fund two projects. The first agreement, worth $445 million, will be used to improve [...]East African Breweries Blames Rising Tax for Slow Growth in Half-Year Earnings
East African Breweries (EABL) has reported Kshs 57.3 billion ($532 million) in net sales for the half year ending December 31st, 2022, representing a 4% growth compared to the same [...]
