Author: Caroline Muriuki

Ugandan Asians fear expulsion as MPs dig into properties - The Exchange

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.

The members say that it is only President Yoweri Museveni who can save the image of the country by stopping what they are calling “rewriting Amin’s history”

Mr Mohammad Allibhai, the association’s chair said, “The way the Cosase is handling this matter based on a whistleblower shows that we the …

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Ethiopia rejects Egypt proposal on Nile dam operation

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.”

In 2011, the Grand Ethiopian Renaissance Dam (GERD) was announced, it is designed to be the centrepiece of Ethiopia’s bid to become Africa’s biggest power exporter, generating more than 6,000 megawatts.

The dam has been the center of disagreements between Ethiopia and Egypt as the two countries disagree over the …

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Russia and Uganda sign nuclear deal

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, Austria, on Tuesday.

The agreement was signed by Nikolay Spassky, Deputy Director General – Director of international activities of Russian State Atomic Energy Corporation Rosatom, on behalf of Uganda by Eng. Muloni Irene Nafuna, the Minister of state for energy and mineral resources of the Republic of Uganda.

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Dollars

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 “efficient” business environment has helped its much higher FDI flow compared to the rest of the region.

Mr Francis Kamau, a tax partner at audit and consultancy EY East Africa said,” “Ethiopia has affordable electricity supply and is served by an efficient airline”.

Mr Kamau also added that Ethiopia has …

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Tala mobile money lender

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 actively working to continue to support financial services access to Tanzania.

According to Tala, Kenya remains at the heart of Tala’s operations with a customer reach of over three million and ease in offering financial services. It assured that its operations in Kenya would remain uninterrupted.

“Our operations …

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Equity Bank

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 of Equity Group said, “Our vision is to be the champion of the socio-economic prosperity of the people of Africa. We value integrity, innovation, and respect for our clients,”

Mary Wamae further said,” becoming a part of the SME Finance Forum touches on each of these values as we learn …

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US and Kenya to build wind power project in Kajiado - The Exchange

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 that they have on board and believes that the US companies will be very competitive in the supply of Kajiado project major components.

The U.S. Ambassador to Kenya Kyle McCarter said the US Embassy was proud to continue its support for the project. He added that the embassy is committed …

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