Author: Caroline Muriuki

Kenya and the United Kingdom signed a new trade deal that guarantees duty-free access to the UK market for Kenyan exporters and vice versa.

The agreement will end the era of doing business through protocols of the European Union (EU)  from which London will be exiting by the end of December 2020.

The agreement was titled: The Economic Partnership Agreement between Kenya, a Member of the East African Community, of the one part and the United Kingdom of Great Britain and Northern Ireland, of the other part. It was signed by Kenya’s Trade and Industrialisation Cabinet Secretary, Betty Maina and UK’s International Trade Minister Ranil Jayawardena in London.

“I am delighted that today we have signed a trade agreement with Kenya. This deal makes sure businesses have the certainty they need to continue trading as they do now, supporting jobs and livelihoods in both our countries. Today’s agreement is also …

Analysts at the African Trade Insurance Agency (ATI) annual roundtable noted that Africa is expected to see a subdued economic recovery in 2021 and not likely to reach 2019 growth levels until 2022.

The ATI virtual discussion hosted Uganda, Ghana and Senegal, international financial partners and risk analysts to discuss the most urgent risks and mitigation solutions.

During the virtual meeting, ATI’s newly appointed Chief Executive Officer, Manuel Moses emphasized the importance of partnerships that will help African economies recover from the pandemic. He also said that ATI with the support of partners like the European Investment Bank and the African Development Bank, it plans to go through rapid membership expansions so as to lend more support to the most vulnerable economies.

One of the striking features of the impact of the pandemic that was revealed as a key factor that should guide the continent’s recovery is that the pandemic …

The tourism industry is one of the sectors that has been greatly affected by the Covid-19 pandemic which increased cancellations of hotels and travel bookings which resulted in revenue loss and unemployment situations, resulting to loss of substantial revenue to governments and increasing incidence of poverty among others.

Egypt’s tourism revenue recorded $9.9 billion in the fiscal year 2019/2020 a decrease of $2.7 billion from the previous year, according to the Central Bank of Egypt (CBE).

The bank noted that the decline in travel caused a drop in the services surplus by 31.2 per cent to reach $9 billion in 2019/20 compared to $13 billion in the previous year.

According to the report, in the fiscal year 2019/2020, Egypt’s non-oil trade deficit decreased by $2 billion recording $36 billion compared to $38.03 billion recorded in the previous year. The bank said this was because of the hike in non-oil merchandise …

Stanbic Bank Uganda in partnership with the United Nations (UN) and other financial agencies have created an enterprise fund, Economic Enterprise Restart Fund (EERF) to provide low-cost financing to the informal sector to help them recover from the impact of the pandemic.

According to a press release, the Economic Enterprise Restart Fund (EERF) will provide cheaper funding to SMEs, savings and credit cooperatives (SACCOs) as well as village savings and credit associations (VSLAs) to improve their productivity and provide both digital and technical support in capacity building and institutional development.

To help increase consumption, create employment opportunities and reduce poverty in the rural and peri-urban areas, EERF will also drive financial inclusion through the digital banking process and build economic activity sustainability.

The fund was launched by Anna Juuko, the chief executive officer and Rosa Malango, the UN resident coordinator.

“Our commitment to the Economic Enterprise Restart Fund is an …

The government of Uganda and The African Development Bank signed an agreement worth $500,000 to finance Micro, Small and Medium Enterprises (MSMEs) so as to boost business linkages on the East African Crude Oil Pipeline Technical Assistance project.

The bank will contribute the funds through the Fund for African Private Sector Assistance (FAPA) while the Government of Uganda through the Petroleum Authority will provide counterpart funding. A similar project is also being finalised in Tanzania.

The key objective of the grant is to help develop the capacity of local Uganda MSMEs along the East African crude oil pipeline by helping them to build linkages with larger, national, regional and international companies as well as accessing new market opportunities.

The project aims to create an estimated 500 jobs along the pipeline and support inclusive private sector growth.

According to the African development bank, “the grant was provided in response to a …

6 Facts You Didn’t Know About Rick Ross Net Worth, Lifestyle, and His Family in 2022

Rick Ross is an American rapper, songwriter, entrepreneur, record executive, producer, and CEO of  Maybach Music Group which he founded in 2009.

His birth name is William Leonard Roberts II, born in January 1976 in Clarksdale, Mississippi, U.S, and raised in Carol City, Florida. He studied in  Miami Carol City Senior High School and attended the historically black college Albany State University on a football scholarship.

From December 1995 Rick Ross worked as a correctional officer for 18 months until he resigned in 1997. His stage name was inspired by the former drug kingpin “Freeway” Rick Ross.

In 2006 he released his single “ Hustlin” which made him a subject of a bidding war as he received offers from Diddy’s Bad Boy Entertainment and Irv Gotti’s Murder Inc. He ended up signing …

Davido Net worth

Davido net worth is estimated to be $16 million, he is among the richest musicians in Nigeria and among the richest musicians. His wealth is from music and endorsement projects such as the $78,296 (N30 million) MTN endorsement deal, Guinness Nigeria, and Infinix mobile. He also has a YouTube channel that has attracted over 663 million views since it was created.

Who is Davido

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davido biography

Davido is an American-born Nigerian Musician, singer, songwriter, and record producer.

His birth name is David Adedeji Adeleke born on November 21, 1992, in Atlanta, Georgia the United and later on, moved to Nigeria where he spent most of his childhood.

His parent are the late Mrs. Vero Adeleke, a professor while his father is Adedeji Adeleke, a Nigerian billionaire who is the founder and president of Adeleke University and the …

Airtel recorded a 14 per cent growth in revenue to $ 659 million in East Africa for the six months ending September citing an increase in subscribers.

According to Airtel’s financial report, voice revenues saw a growth of 5.4 per cent to $312 million across the East African market which includes Uganda, Kenya, Tanzania, Rwanda, Malawi and Zambia.

Data service recorded a 21.2 per cent growth in revenues to $ 174 million while mobile money as well saw a 33.2 per cent growth in revenues to $132 million during the period under review.

The telecom said that the double growth in revenue is due to an increase in subscriber numbers from 12.1 million to 14.9 million as well as 4G infrastructure network expansion from 60 per cent to 68.6 per cent of the sites in the period under review.

“Our mobile network in Uganda, Zambia and Malawi now consists of …

Uganda’s Central Bank noted that easing of lockdown put in place as a measure to prevent the spread of covid-19 has led to economic growth recovery.

The Bank of Uganda in its latest monetary policy statements said that economic growth recovery has been supported by the easing of lockdown, a feeble improvement in both foreign and domestic demand as well as the stability of the exchange rate.

The government of Uganda started easing restrictions on some parts of the economy which had been affected by the pandemic in may.

Uganda’s Central Bank forecasts that the 2020/2021 financial year will see some growth of between 2.0-3.0 per cent which could increase to up to 6.0 per cent in 2021/22. The growth estimated before the pandemic which was of more than 6 per cent is forecast to be attained after 2022.

The 9 pm to 6 am curfew still remains in place …

IATA(International Air Transport Association)

Airlines will need to cut more jobs for them to survive the pandemic crisis or face failure in the next 12 months, according to the International Air Transport Association (IATA).

Speaking during a webinar, the director-general and CEO of IATA, Alexandre de Juniac said that while the body doesn’t advocate job cuts, it may be the only way for airlines to survive.

According to the latest reports from IATA, in 2021 the global airline revenue will decrease by 46 per cent compared to 2019’s record of $838 billion, compared with previous projections of a 29 per cent drop.

The body also warned that the airline industry will burn through $77 billion in cash during the second half of 2020 (almost $13 billion/month or $300,000 per minute), despite the restart of operations.

Therefore, maintaining labour productivity levels of 2019 in 2021 will require employers to be …