Thursday, March 28

East Africa

Uganda National Oil Company
  • The Uganda National Oil Company (UNOC) is directly importing petroleum products from Vitol Bahrain, aiming to reduce reliance on Kenyan firms and mitigate high fuel prices. 
  • UNOC’s direct importation and sale of fuel to OMCs in Tanzania and Uganda is a significant step towards fostering stronger regional ties, promoting economic growth, and ensuring energy security. 

Uganda National Oil Company (UNOC) has started the sale of petroleum products to oil marketing companies in both Uganda and Tanzania.

This is part of a broader strategy to test the waters before UNOC embarks on a direct importation agreement with the global oil titan, Vitol Bahrain. This maneuver signals a new era in East Africa’s energy dynamics, especially following a cooling of relations between Uganda and Kenya over fuel supply mechanisms.

Breaking New Ground: Uganda National Oil Company Direct Importation Deal

For years, Uganda’s fuel supply chain was heavily dependent on Kenyan OMCs. However, …

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  • Effective March 1 2023, Lufthansa Group appointed Kevin Markette as the new General Manager for the East African region.
  • This encompasses Kenya, Ethiopia, Uganda, Rwanda, Burundi and Tanzania.
  • Effective June 3, 2023, Lufthansa will expand its current connection from Frankfurt, Germany into Nairobi for the summer flight schedule from five to seven weekly flights.

The Lufthansa Group has re-affirmed its commitment to East Africa by relocating the commercial responsibility for the passenger business back to Kenya.

Effective March 1 2023, Lufthansa Group appointed Kevin Markette as the new General Manager for the East African region.

This encompasses Kenya, Ethiopia, Uganda, Rwanda, Burundi and Tanzania.

With his position and team permanently based in Nairobi, he will be able to better focus on the needs of regional customers and through a physical presence in the region be closer to the market.

Markette succeeds Dr. André Schulz, who has been appointed Head of …

From Left to Right: Cabinet Secretary - National Treasury and Economic Planning - Prof. Njuguna Ndung’u and Commissioner of Insurance and Chief Executive Officer (IRA) Godfrey Kiptum share a light moment during a courtesy call to the CS at his offices at the National Treasury buildings on 6th February 2023.
  • Insurance industry paid claims worth $400Mn in three months from October 2022 to December 2022 representing a 3percent increase compared to the third Quarter of 2022 that paid claims worth $391Mn. 
  • Latest statistics from the Insurance Regulatory Authority (IRA) indicate that the number of claims reported to the insurers were 2,040,600, a 12.6 percent increase compared to 1,811,141 claims reported in Q3,2022. 
  • General liability claims paid went up by 16.8 percent to 14,085 claims worth $42Mn from 12,055 claims paid worth $40Mn billion in the previous quarter. Non – Liability claims paid hit 1,714,723 claims worth $170Mn  representing a  1.8 percent from 1,684,698 claims worth $160.31Mn reported in Q3 2022. 

Insurance industry paid claims worth $400Mn in three months from October 2022 to December 2022 representing a 3 percent increase compared to the third Quarter of 2022 that paid claims worth $391Mn. 

According to the Quarter 4 of 2022 claims

World Bank gives Somalia US$75mn funding for healthcare

The World Bank has announced its first investment in Somalia’s health sector in 30 years.

In a statement, the bank says it has approved the Improving Healthcare Services in Somalia Project, known as “Damal Caafimaad”.

The project is financed by a US$75 million International Development Assistance (IDA) grant and an additional US$25 million grant from the Global Financing Facility for Women, Children and Adolescents (GFF).

The organization says the project will deliver essential health and nutrition services and improve health service coverage and quality in some of Somalia’s most disadvantaged areas.

These include Nugaal (Puntland), Bakool and Bay (South West), Hiraan, and Middle Shebelle (Hirshabelle).

World Bank projects that around 10 per cent of Somalia’s population, as well as internally displaced persons (IDPs) and nomads in the target regions, will benefit from the project’s activities.

It is also expected to strengthen the stewardship capacity of Somalia’s Federal and State Ministries …

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The Food and Agriculture Organization of the United Nations (FAO) and the Ministry of Devolution and the Arid and Semi-Arid Lands (ASALs) have signed the Anticipatory Action and Response Plan for Pastoral and Agropastoral Communities in ASAL Counties of Samburu, Isiolo, Turkana, Garissa, Marsabit, Mandera, Wajir and Tana River in Kenya.

In a statement, FAO says this is in response to drought alert sent in June 2021 where 12 of the 23 ASAL counties were in the alert drought phase, while 16 reported a declining trend. This is an abnormal occurrence at the immediate end of the season.

‘Livelihood conditions have declined as a result of reduced access to pasture even as 56 percent of the ASAL counties reported increased trekking distances to water sources for livestock and domestic use. This is expected to get worse in the coming months hence the need for urgent anticipatory action,’ said Carla Mucavi …

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The Kenya Medical Supplies Authority (KEMSA) says it has stepped up plans to guarantee quality medical products and technologies supply to more than 8,000 facilities in the national public health care system, with a floating of two competitive tenders for pharmaceutical products.

In a statement, KEMSA says the newly floated tenders are open for local manufacturers and related suppliers, including youth, women and persons with disability-owned enterprises, which can participate under the Access to Government Procurement Opportunities (AGPO) program, among other supplier categories.

Kenyan and international bidders seeking to supply Health Products and Technologies (HPTs) under a two-year framework model converged at the College of Insurance, Nairobi, Monday for a pre-bid conference.

The move comes at a time when the Authority is trying to regain trust and revamp its public image following the questionable and inflated Sh7.8 billion Covid-19 supplies tenders in which billions might have been misappropriated or stolen.…

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African Development Bank Group has approved two grants worth $83.6 million to boost cross-border trade in electricity between Ethiopia and Djibouti and to deepen integration in the Horn of Africa sub-region.

In a statement, the bank’s board said the funds comprise a $69.65 million grant to Ethiopia and a second grant of $13.93 million to Djibouti.

Both have been sourced from the African Development Fund, which is the African Development Bank’s concessional financing window.

The Ethiopia–Djibouti Second Power Interconnection project will entail the construction of nearly 300 km of interconnector line, 170 km of transmission lines, and new construction or renovation of substations in the two countries.

Commenting on the approval,  Bank’s Director of Power Systems Development Batchi Baldeh said the first interconnection line is reaching its power transfer capacity limit due to several developments in both countries, such as the industrial development in the eastern part of Ethiopia, the …

Shamiah CMA

Kenya’s Capital Markets Authority (CMA) has announced a new deal that will help businesses in the private sector forge their way to recovery. 

CMA has signed a Memorandum of Understanding (MoU) with the Kenya Private Sector Alliance (KEPSA) to support market deepening and leveraging capital market products to catalyze growth in the sector.

The partners say the move is line with the Big 4 Agenda and Sustainable Development Goals.

Through the MoU, CMA and KEPSA say they will be seeking avenues for private and public sector finance and investment necessary to support Kenya’s economic growth and complement development funding gaps.

The two institutions will also seek to collaborate in the development of policy and regulatory interventions to create a conducive business environment that will support a robust, resilient, and inclusive financial sector through the growth of the capital markets.

The CMA Chief Executive, Wyckliffe Shamiah said the partnership is expected …

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Kenya’s Capital Markets Authority (CMA) has issued the first set of licenses to five coffee brokers in line with the Capital Markets (Coffee Exchange) Regulations, 2020.

In a statement, the Authority says the licenses will allow the brokers to carry out the role of coffee brokerage services at the Nairobi Coffee Exchange (NCE) with effect from 1 July 2021.

Meru County Coffee Marketing Agency Limited has been granted a full coffee broker licence, while others, which include Kipkelion Brokerage Company Limited, and Murang’a County Coffee Dealers Company have been granted conditional licences.

According to the Authority, they are expected to come into full compliance with the requirements of the Coffee Exchange Regulations within the next three months.

“The Authority is mandated to regulate the spot commodity markets in Kenya and in particular, the coffee commodity market according to Section 11(3) of the Capital Markets Act,” CMA said in a statement.…

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