Author: Maingi Gichuku

• The Electricity Regulatory Authority (ERA) has announced that it is currently conducting a thorough cost analysis of the Umeme concession buyout, which includes verifying recoverable investments
• As a listed company on the Uganda Securities Exchange, Umeme is one of Uganda’s largest and most profitable companies
• Energy Permanent Secretary Irene Bateebe  estimated that the Umeme buyout as of December 2022 stood at Shs799b (US$215m)

The Electricity Regulatory Authority (ERA) has announced that it is currently conducting a thorough cost analysis of the Umeme concession buyout, which includes verifying recoverable investments. Eng Ziria Tibalwa Waako, the CEO of ERA, stated in a recent interview that the process of investment verification is ongoing and the final buyout amount is expected to be announced in March 2025 after cost and technical audits have been conducted by the Auditor General.

The government had previously indicated that it would allow Umeme’s 20-year concession to expire …

• Tanzania garnered $1.2 billion (approximately Sh2.8 trillion) in investment through projects filed with the Tanzania Investment Centre (TIC) from January to March, compared to $787.4 million (Sh1.8 trillion) in 2022
• According to the most recent TIC report, the investment will be invested in 93 projects that would create more than 16,400 job possibilities
• Domestic sources made significant contributions, contributing US$887 million, or 76 per cent, of the total permitted investments ,US$276 million, or 24%, came from overseas sources.

Due to an improvement in the economic climate, Tanzania had a 52.4 per cent rise in investment over the first quarter of this year compared to the same period last year.

Tanzania garnered US$1.2 billion (approximately Sh2.8 trillion) in investment through projects filed with the Tanzania Investment Centre (TIC) from January to March, compared to US$787.4 million (Sh1.8 trillion) in 2022.

According to the most recent TIC report, the investment will be …

• Marcyrl Pharmaceutical get investments  from Development Partners International and Amethis meant to promote greater access to critical care medications in Africa.
• Through its global distribution network, Marcyrl’s goal is to increase access to specialised medications in Egypt and throughout Africa
• Africa has a sizable pharmaceutical industry worth US$18 billion annual demand for packaged medicines,  Nevertheless, over 60 per cent of goods are still imported.

Leading Egyptian pharmaceutical company, Marcyrl Pharmaceutical Industries, which specialises in specialty generics, on thursday 6 2023, revealed a new investment meant to speed up its goal of promoting greater access to critical care medications throughout Africa.

The infusion of a substantial minority investment from Development Partners International and Amethis will enable the company to strengthen its institutional framework, leverage its prominent market position, and diversify its product portfolio. This strategic move will enhance the company’s growth potential and create opportunities for increased profitability.

Marcyrl, …

• A Boston University report published on Thursday  ,indicates that a Debt reductions of US$500 billions must be written off to assist developing countries that are most at risk of default get back on a better financial footing
• Developing nations’ sovereign debt rose by 178% due to the global financial crisis, reaching US$3.9 trillion by 2021
• Fitch Ratings reported a substantial amount of sovereign debt defaults this year, whereas the International Monetary Fund reported that 25% of developing nations and sixty per cent of developing nations are in or approaching debt distress

Countries in Sub-Saharan Africa (SSA) are dealing with two issues that are reducing productivity and undoing decades of economic progress: increasing levels of debt and an uptick in the frequency and intensity of climate shocks.

Countries now have declining public finances, low resilience to climate shocks, and constrained ability to fund adaptation due to the cumulative nature of these …

• UNOC’s Work Plan is facing a reality check as the institution seeks to secure project financing for its key ventures in the midstream and downstream sectors
• UNOC ventured into oil exploration in the Kasuruban block, working with a joint venture partner that brings technical know-how and financial muscle to the project
• Ministry of Finance announced UNOC used EACOP holding funds to buy 8M litres of fuel for Jinja Storage Terminal due to cash crunch

Uganda National Oil Company (UNOC) is facing a reality check as it seeks to secure project financing for its key ventures in the midstream and downstream sectors. Despite facing some obstacles, UNOC remains committed to its ambitious work plan and is continuing to pursue new opportunities.

UNOC is wholly owned by the ministries of Energy and Finance, with a 51 per cent and 49 per cent stake, respectively. The company’s mandate is to manage Uganda’s …

• Vice President of the United States Kamala Harris toured Tanzania, Ghana, and Zambia. As the United States seeks to weaken China’s and Russia’s alliances with African countries
• In the past, the United States and Europe viewed Africa as a problem to be solved, whereas China concentrated on business, becoming the region’s biggest partner
• Its Part of a Strategic scramble for rare-earth minerals to power the world’s green revolution—cobalt, copper, and nickel, all of which are abundant in several African countries and are essential to electric cars and renewable technologies

Vice President of the United States Kamala Harris toured Tanzania, Ghana, and Zambia. As the United States seeks to weaken China’s and Russia’s alliances with African countries, she is the 18th and most senior American official to tour the continent this year. 11 African nations have been visited by American representatives since January.

First wife Jill Biden and U.S. Treasury …

• XRP Healthcare is the first Pharma and Healthcare platform to be built on the XRP Ledger and will be investing in privately owned clinics, care homes, pharmacies, and hospitals through XRP Healthcare Africa
• These establishments will operate under one roof, with access to improved systems, doctors, and medical provisions that will utilize XRP Healthcare’s developing blockchain technology
• The patient will be at the centre of the healthcare ecosystem thanks to blockchain technology, which will also improve the security, anonymity, and interoperability of health data

In order to build a sustainable, first-rate healthcare network, XRP Healthcare has declared its entrance into Africa’s healthcare market through its subsidiary, XRP Healthcare Africa.

The move is aimed at providing easier access to healthcare services and medication in pharmerging countries and revolutionizing the healthcare industry.

XRP Healthcare is the first Pharma and Healthcare platform to be built on the XRP Ledger and will be …

• Uganda’s Public Debt sources from China and commercial banks have been increasing.
• Finance indicates that the share of multilateral credit stood at 61.7 per cent, representing an 8.9 percent reduction from June 2016 when it was 70.6 per cent
• Ministry of Finance data indicates that the share of commercial bank loans has been growing rapidly, with an increase of US$1.33b, or 10.39 per cent, by June 2022

According to the Status of Uganda’s Debt report, multilateral lenders remain the largest source of credit for Uganda. However, the report shows that the share of debt sourced from multilateral lenders has been decreasing, while other sources such as China and commercial banks have been increasing their share.

As of June 2022, data from the Ministry of Finance indicates that the share of multilateral credit stood at 61.7 per cent, representing an 8.9 per cent reduction from June 2016 when it was 70.6 …

• In East Africa, cargo transportation costs are exorbitant, ranking among the highest globally
•  High logistics costs translate to expensive basic commodities like food across the continent
• Tech startups are collaborating with various stakeholders to enhance infrastructure and simplify trade, manufacturing, and logistics processes

In East Africa, cargo transportation costs are exorbitant, ranking among the highest globally. A Shippers Council of East Africa (SCEA) survey in 2021 revealed that transporters who use the Northern Corridor, a trucking route serving countries like Kenya, Uganda, Rwanda, Burundi, the DRC, and South Sudan, incur an estimated cost of $1.8 per km per container.

This figure is almost double the global average of $1 per km per container, making logistics complex and expensive for African businesses. The situation has been worsened by the current record-high fuel prices in Kenya, Uganda, and other East African countries.

To add to this, poor infrastructure in several parts of …