Author: Caroline Muriuki

Ugandan Asians fear expulsion as MPs dig into properties that were left behind in 1972 after the first expulsion. A section of Ugandans of Asian origin says that with the parliamentary looking into the management and status of properties left in 1972, they fear it is likely to result in a second expulsion. They believe that it is “targeting individuals” instead of dealing with the real problem of the properties. A selected task force of the parliamentary on Commission Statutory Authorities and State Enterprises (Cosase) committee is investigating members of the Association of Expropriated Properties Owners’ Limited on the matter.…

Ethiopia rejected a proposal by Egypt to operate on the $4 billion hydropower dam Ethiopia is building on the Nile. This rejection is further deepening the disputes between the two nations over the project being conducted by Ethiopia. In a press conference in Addis Ababa Ethiopia’s capital, Sileshi Beleke, minister for water, irrigation and energy described Egypt’s plan, which includes the volume of water it wants the dam to release annually as “inappropriate” He further said that the proposal from Egypt was unilaterally decided and did not consider their previous agreements. “We can’t agree with this…we will prepare our counter-proposal.”…

Russia and Uganda have agreed to work together in the field of nuclear energy, Rosatom the Russian nuclear agency said on Wednesday. Russia’s state-owned companies have been the key part of the strategy to bolster Moscow’s presence in Africa, as it seeks to strengthen its influence in Africa. Ugandan President Yoweri Museveni is seeking to use his country’s uranium deposits to develop nuclear power. The two countries signed an intergovernmental agreement to cooperate in the peaceful use of nuclear energy. The agreement was signed on the sidelines of the 63rd General Conference of the International Atomic Energy Agency, in Vienna,…

Ethiopia emerged as the largest recipient of Foreign Direct Investment (FDI) in East Africa, a new report released by financial consulting firm EY shows. The 2019 survey carried out by EY Attractiveness showed that Ethiopia attracted foreign investments worth Ksh.726.6 billion last year compared to Kenya’s foreign investments, which stood at Ksh.207.6 billion in the same period. Tanzania’s foreign investment stood at Ksh.103.8 billion. According to the report, the FDI Ethiopia received translated to 16,000 jobs from 29 projects, while Kenya created 6,000 jobs from 64 projects and Tanzania created 3,000 jobs from 19 projects. An expert said that Ethiopia’s…

In a statement given by Tala, the company has not yet made a decision to permanently shut down its loan services in Tanzania but are reviewing its operations to make their final decision. The statement also reads, “Tala Tanzania has not made a decision to permanently close operations. However, after piloting our credit product in Tanzania, we have paused our lending operations and are undertaking a review of our operations to determine our path forward in the market.” The company serves more than four million subscribers at an approximated Ksh.100 billion ($961.9 million dollars) on disbursed loans, said it is…

Equity bank has become the newest member of the Small and Medium Enterprise (SME) finance forum. The SME finance forum is a global membership network that brings together technology companies development finance institutions and financial institutions to share knowledge and promote the growth of SME. Matthew Gamser, CEO of the Forum said, “200 million businesses worldwide need financing to invest, grow and create new jobs”. He further said that they were proud to have Equity Bank join their network of more than 150 members who work to expand access to finance for small and medium businesses Mary Wamae, Executive Director…

The United States Trade and Development Agency (USTDA) has awarded the Kenya Craftskills Energy International Limited a grant to develop a 50-megawatt wind power plant with an integrated battery storage in Kajiado, Kenya. Actis, will work together with craftskills energy international limited while Delphos International which is another US firm, will execute the study. Actis is a which is a leading US investor firm in growth market across Africa, Latin America and Asia, USTDA Acting Director Thomas R. Hardy said, “ The project has both the structure and the smarts to succeed.”  He further complimented craftskills on the quality partners…