EAC Tables US$ 109.3 Million Budget for FY 2025/2026
The East African Community (EAC) has presented a US$ 109.3 million budget proposal for the 2025/2026 Financial Year to the East African Legislative Assembly (EALA). “the average economic growth rate [...]
EADB Secures US$40Mn From OPEC Fund to Boost SME, Infrastructure Growth
The East African Development Bank (EADB) has signed its largest financing agreement yet with the OPEC Fund for International Development, securing a US$40 million loan to accelerate private sector development [...]EAC Approves Cross-Border Payment System Masterplan
The East African Community's Monetary Affairs Committee (MAC) has approved the EAC Cross-border Payment System Masterplan which aims to reduce the cost and time of cross-border payments, making transactions faster and more affordable [...]Kenyan Firms Face Currency Conversion Risks After Tanzania Tightens Forex Rules
Kenyan companies with operations in Tanzania now face rising currency risks following a ban on the use of foreign currencies for domestic payments as the government aims to increase demand [...]
MTN Uganda Under Sylvia Mulinge: Earnings Surge, Dividends Rise, Stock Gains 85%
Last week, MTN Uganda posted impressive financial results for the full year 2024, marked by strong growth in service revenue, higher earnings per share, and a substantial dividend increase. MTN [...]
EAC Experiments with Collective Marketing as it Targets 11 Million Tourists
The East African Community (EAC) will, for the first time, participate as an entity at the International Tourism Bourse (ITB) Berlin, the world’s largest tourism trade fair, from 4th [...]Ruto Convenes Emergency EAC Heads of State Meeting to Discuss DRC War
President William Ruto has convened an extra ordinary regional summit on Wednesday this week to discuss the ongoing war in the Democratic Republic of Congo (DRC), which saw the rebel [...]Uganda Forwards Audit on USh 60bn Central Bank Heist to CID
Uganda's legislature has forwarded the Auditor-General's report on the UShs 60bn (US $ 16.23mn) Bank of Uganda heist to the Directorate of Criminal Investigations for further investigations. “Looking at the [...]
Canadian Entrepreneur Acquires KK Security's Parent Company
The Competition Authority of Kenya (CAK) has approved the proposed acquisition of Doctor No Parent Limited the parent company of KK Security by Canadian entrepreneur Stephan Crétier. “This [...]Kenyan Exports to Rwanda Overtake Tanzania’s amid Dar-Kigali Trade War
The value of Kenyan exports to Rwanda grew by over 240% from US$35.56 million in September to US$121.4 million in October, according to the new statistics from Kigali. “The deficit [...]Jubaland and Mogadishu Standoff Escalates after Ahmed Madoobe Reelected President
A brewing standoff between the Federal Government of Somalia and the Jubaland State over the latter's decision to defy a switch to one-man one-vote electoral system is nearing armed confrontation, [...]COMESA's Proposes Quick Fixes to Address High Vegetable Oil Prices
The Common Market for Eastern and Southern Africa (COMESA) is mulling a couple of measures to contain the runaway prices of refined vegetable oil in the region. “These increases happened [...]
