Author: The Exchange

Uganda’s delayed oil production could affect economic outlook https://theexchange.africa/countries/delayed-oil-production-could-affect-economic-outlook-world-bank/ According to the World Bank, Uganda could face serious economic pressures in the immediate future especially with delay in oil production. It has advised that the country would do well to develop its other major sectors – agriculture and industry – as they can guarantee immediate and steady growth outcomes instead of relying heavily mostly on Uganda’s oil production ambitions. Uganda’s economy must grow faster- World Bank https://theexchange.africa/countries/ugandas-economy-must-grow-faster-world-bank/ A recent World Bank report, “Uganda: Jobs strategy for inclusive growth” reveals that the country could find itself in a crisis of more…

In this column called “The Indicator,” we will be taking an economic or financial statistic from East Africa and breaking it down into bite-sized nuggets of knowledge for investors. This month’s indicator figure is 63 63 what? There are exactly 63 investors focused on early stage, seed, or “angel” investing in the East African Community (EAC) countries according to Angel List, a global platform for start-up investing that seeks to “democratize the investment process and to help start-ups with their challenges in fundraising and talent”. What is an angel investor and what do they seek to invest into? An angel…

As at 2015 the informal sector employed over 80% of the Kenyan working population as was reported in an article published by the Institute of Economic Affairs. The same is the case in most developing countries, where the informal sector accounts for up to half of most economic activity. While the informal sector accounts for a significant proportion of the workforce in the East African region, its impact on GDP is largely outsized by the more formal sectors of the economy when the value of output is taken into consideration.The informal sector in Kenya only accounts for slightly above 30%…

The Finance Bill, that became law as of February 1, 2020, among other things, increased the Value Added Tax (VAT) rate from 5% to 7.5%. The additional revenue is intended to fund healthcare, education and infrastructure. To mitigate the impact of the VAT rate increase, the Government expanded the list of VAT-exempt items to include staples such as bread,cereals, all kinds of fish, flour and starch meals;fruits, nuts, pulses and vegetables,root vegetables, meat and poultry products,milk,salt and herbs, and natural water and table water. The Bill is also not intended to be a ‘one-off’ document as the government intends to…

Born in Maisons-Laffitte, France, in December 1961, Ghislaine Maxwell has a net worth of $ 20 million as of 2021. She was the youngest of nine children born to publisher tycoon and after called conman Robert Maxwell and socialist Elizabeth Maxwell. She spent her childhood in Buckinghamshire in a large house of 53-rooms. Maxwell graduated from the University of Oxford. She has a long list of her siblings, Isabel Maxwell, Christine Maxwell, Kevin Maxwell, and Ian Maxwell. She was the director of the Oxford United Football Club and founded the Kit Cats Club. Together with this, she was a prominent…

Songas –Tanzania’s leading gas-to-power company announced the appointment of Anael Samuel as the new Managing Director of the company with immediate effect. The Tanzanian national takes over from Nigel Whittaker who was recently appointed as the company’s board Chairperson. Under his new role, Anael will lead the company to continue its excellent operational performance and availability and continue to work on its plans to invest over USD65 million (approximately TZS126 billion) to expand its generation capacity at the Songas Ubungo Power Plant from the current 180 MW to 245MW. Read Also: Tanzania: GE upgrades gas turbines at Songas Ubungo Power…

The East Africa 15 (EA15) highlights on 15 of the most traded and highly capitalized stocks in the region on a monthly basis. The primary purpose of the EA15 is to give investors a description and perspective of the regional stock markets’ performance. EAC countries’ economies had a turbulent time in 2019 characterized by rising public debt against missed revenue targets,slow private sector growth and under-par performance of traditional key sectors of the economy such as tourism, agriculture and manufacturing. Further, regional trade which was earmarked as crucial to economic development has been marred by trade spatssuch as protectionism resulting…

The Finance Bill, among other things, proposed an increase in the Value Added Tax (VAT) rate from 5 per cent to 7.5 per cent. The additional revenue from the increase in VAT rate would be used to fund healthcare, education and infrastructure. The Government intends to mitigate the impact of the VAT rate increase by introducing a VAT exemption threshold for businesses with a turnover of less than N25 million per annum, and expanding the list of VAT-exempt items to include the following: Brown and white bread; cereals including maize, rice, wheat, millet, barley and sorghum; fish of all kinds;…

THE EXCHANGE sat down with the CEO of Johari Rotana Hotel, Mr. Joerg Potreck to discuss about the hospitality industry in Tanzania and what the future holds for Johari Rotana.  Briefly tell us about the history of Rotana Hotels? We are a hotel management company from the United Arab Emirates  founded in 1992 by Nasser Al Nowais and Selim El Zyr. Operating as Rotana, we opened our first property, the Beach Rotana Abu Dhabi in 1993 and today we are one of the leading hotel management company within the Middle East, Africa, Eastern Europe and Turkey with a portfolio of…

As one of the leading international centers of business, Dubai has positioned itself as a major commercial hub globally. Entrepreneurship stands as a hallmark of distinction, and the Dubai Chamber of Commerce and Industry has been a leading dynamic in enabling business growth, innovation and expansion, not only within Dubai, but worldwide. Under the leadership of President and CEO H.E. Hamad Buamim, the Dubai Chamber of Commerce and Industry has been instrumental in expanding relations between the world and Dubai, and this year in November 2019, it will host the upcoming Global Business Forum Africa (GBF Africa). With more than 17,000…