US Sanctions Uganda's Speaker, Minister of State for Finance, for Graft
The United States' (US) Department of State has sanctioned five Ugandan officials including Speaker of Parliament Anita Among and Minister of State for Finance and Planning Amos Lugoloobi due to [...]
IMF Reaches Staff-Level Agreement for Tanzania's US$ 150 Million
The International Monetary Fund (IMF) has reached a staff-level agreement to provide US$ 150 million to Tanzania, subject to approval by the IMF Executive Board. “I am pleased to announce [...]
Attempted Coup in DRC Increases Risks of Political Instability in the Region
Although the coup attempt was quickly thwarted, the success of Malanga’s group in accessing the capital, and the heavily guarded Palais de la Nation, will likely also raise questions about likely benefactors and sympathisers.Admaius Capital Partners Makes A Majority Equity Investment in Rwandan Telecom Towers Operator TRES
Admaius Capital Partners (“Admaius”), an Africa focused private equity investor operating across several growth markets, has today announced its majority equity investment into TRES Infrastructure Limited, the only local licensed [...]Car General Posts Net loss of KSh 274 million on Forex Losses
Car General Kenya Plc, a listed dealer in power generation, automotive, construction and industrial engineering products in East Africa, has posted a net loss of KSh 274 million in [...]
BOC Kenya Plc Net Earnings Ups 33.9% to KSh 198.1m
BOC Kenya Plc recorded a net profit of KSh 198.1 million for the year ended 31st December 2023 compared to net earnings of KSh 147.9 million in 2022, an increase [...]Liberty Kenya Holdings Plc Posts Net Profit of KSh 671.9 Million
Liberty Kenya Group recorded net earnings of KSh 671.9 Million for the financial year ended 31st December 2023 compared to KSh 267.7 Million over the same period in 2022. Liberty [...]Ethiopia's Ministry of Foreign Affairs Refutes Reports of Joining EAC
Earlier this week, Kenya’s CS for the East African Community (EAC), Arid and Semi-Arid Lands Penina Malonza stated that Ethiopia will soon be joining the regional bloc a development [...]
Bank of Uganda Hikes Benchmark Rate to 10.25%
The Bank of Uganda’s Monetary Policy Committee (MPC) has raised the Central Bank Rate(CBR) to 10.25% at its April meeting. In a statement, the Bank of Uganda said while recent [...]Uganda’s Umeme Profit Drops to USh 11.5 Billion
Umeme, Uganda’s electricity distribution company has recorded a significant drop in its full-year financial result for the period ended 31 December 2023, driven by accelerated amortization of intangible assets. “As [...]ATIDI to Underwrite a $7.7 Million Hydro Project in Burundi
The African Trade Insurance Agency (ATIDI) has given insurance cover to support the $7.7m Songa Energy’s 1.65 MW run-of-the-river hydro project on the Ruvyironza River in Burundi. “We have been [...]Kenya’s Volume of Trade Ups to KSh 336.2 Billion in Jan 2024
Kenya’s volume of trade rose from KSh 303.9 billion in December to KSh 336.2 billion in January 2024 according to the latest figures from the Kenya National Bureau of Statistics(KNBS). [...]
