Author: Caroline Muriuki

 Ethiopia to benefit from an impulse startup program set to build linkages between corporations and start-ups using Agritech solutions Mohammed VI Polytechnic University (UM6P) and OCP Africa have partnered to start the program in Ethiopia. According to the press statement issued by the company, the program aims at helping Ethiopia unlock its agricultural potential “Following the success of the Impulse program in Ghana, Nigeria and Ivory Coast, OCP Africa is making the last stop in Ethiopia, to convene with key stakeholders from the agriculture, entrepreneurship and innovation ecosystems,” the statement read. The program is a 12-week acceleration program dedicated…

E-commerce is set to create three million jobs for the youth by the year 2025 a report by bankers and financial experts. The World Economic Forum, in partnership with the International Trade Centre, released the Africa E-commerce Agenda, which is an eight-step action plan to recognize the benefits of e-commerce in the content. The Africa E-commerce Agenda action points enable e-payments, manage data, grow the tech industry, refresh policies, expand connectivity, upgrade logistics, coach small business and join forces. The Agenda released early this month, recognizes the significance of the large ecosystem of digital technology and supporting elements. Experts who…

China registered the highest amount of planned Foreign Direct Investments (FDI) in Uganda in 2018/19 according to reports. In its latest report, the Uganda Investment Authority (UIA) a state agency charged with investment promotion showed china’s planned investments totalled $607.3m, accounting for 45.1% of all the planned investments. “Things have changed, you see that China which used not to be mentioned among the top investors in Uganda ten years ago is now number one foreign investor,” said Lawrence Byensi, acting executive director of UIA. Byensi further said that the Chinese investments are mostly in road and manufacturing projects. The report…

Rwanda gets $20 million boost to finance water supply and sanitation programme. The Organization of the Petroleum Exporting Countries (OPEC) Fund for International Development (OFID) signed an agreement with Rwanda on Wednesday for additional the financing. Rwanda aims at improving water and sanitation infrastructure in Kigali, the six satellite cities and contain waterborne diseases as well as related healthcare costs with the funding it is getting. The funding boost is seen to improve the living standards of nearly 1.6 million people. This is in line with the country’s development and poverty reduction agenda which aims at scaling up investments, developing…

Top 10 countries to invest in Africa 2020 an annual report released by Johannesburg –based Rand Merchant Bank Ltd (RMB) 1. Egypt Egypt has an enormous market and a sophisticated business sector, which makes it the most attractive investment destination in Africa, compared to other countries. Egypt has improved the business environment, which is facilitated through government programs and a progressive increase in investment from the private sector. This has enhanced its economic growth and assisted in repositioning the country on the global investment map. 2. Morocco Since the Arab Spring, the country’s greatly enhanced operating environment has served…

Uganda Revenue Authority (URA) is set to auction hundreds of imported cars destined for Uganda, which are now abandoned in warehouses in Mombasa. According to the East Africa Community Custom Management act 2004, the cars have exceeded their permitted clearance and warehousing period. Which according to the act, the cars can stay in the warehouse within 30 days from the date the auction bid was placed and after failing to pay all the requisite fees, taxes, fines, penalties and charges that will have accrued. A number of the cars have already been auctioned as the bidding process ended early this…

Goh Betoch Bank a new financial institution that aims to introduce mortgage banking offers its shares to the public in Ethiopia. Getahun Nana, the former VP of the central bank of Ethiopia, who is now one of the founding members of Goh Betoch Bank said: “Currently there are 1.2 million housing shortages in Ethiopia.” He added that Ethiopia needs to provide additional houses every year in order to meet the growing demand for housing that is why they have introduced the bank to provide loans for housing construction. Getahum said that only less than 4% of the loans in Ethiopia…

Uganda President Museveni has told off petroleum multinationals pushing for tax waivers as a pre-condition to further develop the country’s oil fields. This is deepening a standoff that might affect the building of a critical export pipeline in the country. According to the highly placed diplomatic sources, President Museveni is understood to have lashed out at petroleum companies accusing them of not appreciating the many adjustments the government has already made in order to facilitate the development of the Hoima oil fields which are estimated to have 1.7 billion barrels of crude oil. The president listed 17 promises the government…

Uganda road toll fees to start in January 2020 on the Chinese-funded  51 kilometre Entebbe Expressway in Uganda. The government of Uganda seeks to raise money to finance public infrastructure projects through toll fees. Uganda National Road Authority (UNRA) is to start charging fees for the Kampala – Entebbe expressway that links the capital Kampala with the Entebbe international airport. This is following the enactment of the new road act that was passed by the Ugandan parliament. Allen Kagina the executive director UNRA said the authority has already started on the process to procure an operator and by January 2020…

Halan an Egyptian technology startup that uses tuk-tuk to transport passengers and goods will begin operating in Ethiopia. The company targets under-served communities and is expanding in more cities in the Egyptian governorates of Sharqeya, Daqahleya, Damietta, Qena and Gharbeya before the end of this year, said The company was founded in November 2017 and already operates in around 20 to 25 cities in Egypt and Sudan. Halan’s app allows customers to request for the three-wheeled vehicles, motorbikes or order food or goods for delivery through motorbikes or cargo tricycles. Nakhla said the app has around 10,000 active drivers per…