Author: Caroline Muriuki

East Africans should brace themselves for an increase in the cost of living as households and businesses pay more for goods and services. Regional currencies are facing increased pressure against the dollar as increasing debt levels and increased servicing obligations threaten to wear down foreign exchange reserves, market data shows. The projected drop of regional currencies is mainly attributed to the growing debt servicing obligations for foreign currency-denominated debts. To pay off external creditors, it requires a drawdown of the country’s foreign reserves. According to analysts at AIB Capital, as a pick-up in consumer demand increases imports, the Kenya shilling…

More than 2,000 delegates are expected to attend the G77+China summit that is to be held in Kampala Uganda between April 17-19. In the United Nations, the G77 is the largest intergovernmental organization for developing countries. It is used as a platform to articulate and promote the countries collective economic interests and increase their joint negotiating capacity on all major international economic issues. The coalition was initially started by 77 countries but now it has 135 member countries from Asia, Latin America, Africa and the Caribbean. In October, last year Uganda was confirmed as the host of the summit making…

The potential of the fourth industrial revolution in Africa report shows an African tech sector taking flight the report was funded by the African Development Bank. The Technopolis Group carried out research and study of the report. The report was presented during a seminar hosted by the African Development Bank last week. According to the report, in 2019, approximately 6,500 technology start-ups were identified in Africa, among which about 10% develop applications that characterize the fourth industrial revolution. Francie Sadeski, partner and lead in emerging markets at Technopolis, said the foundation has been laid for the fourth industrial revolution. “The…

The African Development Bank urged development finance institutions, NGOs, farmer cooperatives and the private sector to come up with more effective financing solutions for Africa’s fertilizer value chains. The Bank’s call came during the Argus Africa Fertilizer Conference held last week. The theme of the conference was Supporting the fertilizer value chain to improve agricultural productivity and economic growth in the region. “Appropriate investment and financing of the entire fertilizer value chain has become a precondition for achieving our continental objectives in the area of agricultural development,” said Marie-Claire Kalihangabo, coordinator of the Africa Fertilizer Financing Mechanism(AFFM), during a forum…

China Energy Engineering Group Company has announced its plans to develop a 500 megawatt (MW) dam and has contracted China Gezhouba Group International Engineering Company as its engineering, construction contractor and procurement. “China Gezhouba Group International Engineering Company (Gezhouba International Company), a subsidiary of China Gezhouba Group Company has entered into a framework contract for the 500 MW photovoltaic power generation project in Uganda,” the statement made by CEEC, read in part. According to the Chinese company, the 500 MW project will be constructed in two phases at an estimate of $500 million. Also Read: Uganda’s economy growing but not braced…

The United Kingdom wants to enter into a trade pact with the East African Community member countries. The United Kingdom which is into a one-year transition phase after it left the European Union, is keen on having long-term and sustainable trade ties with the EAC region. During the one-year transition period set to end on December 31, the UK- EAC trade engagement will be under European Union protocol where most regional countries apply to Everything But Arms treaty. UK High Commissioner to Rwanda, Jo Lomas, said that they are looking to negotiating a trade deal somewhat similar to EAC’s Economic…

Rwanda’s Human Resources for Health (HRH) Program funded in part by the U.S. President’s Emergency Plan for AIDS Relief (PEPFAR) from 2012 to 2017 increased Medical Specialist says a new report from the National Academies of Sciences, Engineering, and Medicine. According to the report, the program more than tripled the country’s physician specialist workforce and produced major increases in the numbers and qualifications of nurses and midwives. The report recommended that future investments in health professional education should be designed within a more comprehensive approach to human resources for health and institutional capacity building, which would strengthen the health system…

Corporate Council on Africa (CCA) in partnership with Kenya Private Sector Alliance (KEPSA) hosted a discussion with Kenyan and U.S. business leaders and government officials on the benefits that will arise from a Kenya-U.S. Free Trade Agreement The round table discussion explored how the private sector can support this bilateral effort and take full advantage of investment and trade opportunities that will come from a Kenya-U.S. Free Trade Agreement. This comes as a follow up to the recent visit of H.E. President Kenyatta to the United States, where both states announced the launch of talks aimed at establishing a free…

Stanchart released the outlook for the EAC three big economies – Uganda, Kenya and Tanzania. According to the outlook report, the bank lowered Uganda growth forecasts to 6.0 per cent in 2020 and 6.2 per cent in 2021. According to the report, although it is difficult to assess the full impact of the regional locust invasion, food prices have already been pressured due to flooding especially in eastern Uganda in December last year. “We now expect the Bank of Uganda to keep its policy rate on hold at 9.0% throughout 2020 having previously seen scope for more easing,” said part…

Uganda’s Standard Chartered Bank organized a Manufacturers’ Business Forum for over 150 manufacturers’ and various stakeholders with the purpose of providing a platform for market players to share progressive insights, network and best practices. The forum was under the theme“Practices for Sustainable Business Growth”. It brought together experts and leading manufacturing businesses to talk about current trends affecting Uganda’s business growth and share the latest research on important and policy-relevant topics. Standard Chartered Bank clients got an opportunity to engage, learn, network and are empowered to expand their operating environment. The Standard Chartered Bank Africa Strategist, Eva Wanjiku Otieno, presented…