Browsing: Uganda

• The transformative power of AI-powered innovation in empowering farmers with the tools and knowledge to protect their livelihoods and improve food security.
• Innovative solutions such as AI-powered climate information systems and blockchain technology for digital wallets are improving smallholder farmers’ productivity and driving their resilience.
• UN’s IFAD notes that innovation is not limited to cutting-edge technologies but can also be found in rural communities and among farmers themselves.

In Tanzania, AI-powered innovation is revolutionizing the agricultural industry, showcasing the immense potential of technology to drive resilience and productivity among smallholder farmers.

By leveraging an innovative app that analyzes images of pest-infected crops and provides locally available treatments, farmers have collectively saved an estimated US$100 million in lost crops.

This success story from Tanzania shared with the world during the International Fund for Agricultural Development (IFAD) 47th Governing Council in Rome, Italy, underscores the transformative power of AI-powered innovation in empowering …

• EAGC funding seeks to tackle trade challenges directly by removing trade impediments and building food export capacity in Kenya, Tanzania, and Uganda.
• This is across export value chains such as Maize, Beans, Millet, Sorghum, and Rice.
• Further, a core part of this is to increase the ability of grain producers to export both regionally and to the rest of the world.

Food export competitiveness in East Africa

Through USAID’s Economic Recovery and Reform Activity (ERRA) program, the United States government has awarded a three-year grant worth $2 million to the Eastern Africa Grain Council (EAGC).

The funding is geared towards strengthening the competitiveness of export-oriented staple food value chains in East Africa.

ERRA program is delivered by TradeMark Africa (TMA), with funding from Feed the Future. Via its five-year $75 million program, USAID and TMA are driving transformative trade and investment reforms in the East and Horn of Africa.

This …

• East Africa is set to outshine other regions in 2024 growth with Rwanda, Kenya, Tanzania and Uganda posting impressive numbers.
• This year, Africa’s overall growth is forecasted at 4 per cent, a notable increase from 3.3 per cent in 2023.
• These are findings of a new Africa 2024 outlook report by Stears, an economic analysis and data-driven insights provider.

The prevailing economic woes in Kenya are projected to continue in 2024 with persistent currency depreciation and inflationary pressures taking toll on individuals and businesses. This is according to a new Africa 2024 Outlook report by Stears, a Nigeria-based economic analysis and data-driven insights company.

Already, the latest statistics show that the Kenyan Shilling has already breached the 160 mark against the US dollar.

Stears’ 2024 Outlook delves into key African countries, specifically Kenya and the continent’s powerhouse Nigeria, projecting persisting economic challenges for both economies.

he macroeconomic analysis …

The whereabouts of Joseph Kony, the infamous leader of the Lord’s Resistance Army (LRA), remains one of the most enduring mysteries in international justice and African politics. Despite extensive efforts to capture him, Kony continues to evade justice, with his exact location a subject of much speculation and few definitive answers.…

• Kenya’s Bluewave Insurance Agency has announced plans to raise $6 million to expand into five new African markets to increase insurance penetration in markets characterized by low uptake.
• Company Founder and CEO Adelaide Odhiambo says the investment would be raised over the next three years.
• The insurer is partnering with Mobile Network Operators and banks to distribute affordable micro-insurance products, with plans to enter Uganda, Nigeria, Ethiopia, Malawi, DRC, Tanzania, Rwanda, and Zambia.

Kenya’s Bluewave Insurance Agency has announced plans to raise $6 million as the firm seeks to expand into five new African markets, aiming to increase insurance penetration in regions characterized by low uptake. Adelaide Odhiambo, Founder and CEO of Bluewave Insurance Agency, stated that the investment would be raised over the next three years to support the expansion plans.

Bluewave Insurance Agency’s new target markets

The company has forged partnerships with large aggregators, specifically Mobile Network Operators …

• Most African countries are set to increase their economic growth next year compared to 2023, with East Africa leading the charge.
• Countries will be powered by their travel, tourism, transport, logistics, financial, and telco sectors.
• However, some African countries will not enjoy this fastest-growing economy wave as they will be under severe financial stress in 2024 due to their huge debt obligations.

The most recent analysis from the Economist Intelligence Unit (EIU) predicts that by 2024, Africa will have the world’s second-fastest expanding major area, behind only Asia. According to the EIU’s African Economic Outlook, Africa’s amazing growth trajectory is evidence of the continent’s resiliency and its enormous unrealized economic potential.

Most African countries are set to increase their economic development compared to 2023, with East Africa leading the charge, as noted by the EIU’s Africa Economic Outlook. Powered by their thriving travel, tourism, and hospitality industries as well …

United States officials and politicians have shown much interest and support for renewing the African Growth and Opportunity Act (AGOA) as its expiration date approaches in September 2025. The fate of this landmark legislation, which provides duty-free access to the US markets for some African countries, remains uncertain for the next 22 months but has significant implications for trade between the United States and Africa.…

Bamburi Cement PLC has announced plans to sell its Ugandan business to Sarrai Group, pending regulatory approvals. The Board of Directors of the cement maker has approved the sale of its stake in Hima Cement Limited, Uganda, amid declining profits.…

• Tanzania will export liquified natural gas through the pipeline to Uganda
• Tanzania will build several plants along the route for domestic use of the gas
• Uganda plans to use the gas for power generation, especially for its iron mining projects

Tanzania and Uganda signed a deal finalising the 2018 MoU on joint natural gas pipeline construction. Tanzania’s Deputy Prime Minister Doto Biteko and his Ugandan counterpart, Minister of Energy and Mineral Development Ruth Nankabiriwahe, signed the deal on November 9

The 1800-kilometre pipeline will run from Tanzania’s southern regions of Lindi and Mtwara to Uganda’s capital, Kampala. This will be the first trans-border gas pipeline in East Africa and is expected to boost economic growth in both countries significantly. The multimillion-dollar project will create jobs along the construction route in both countries.

No official figures have been made public regarding the project’s total value or where the funding will come …

Four African countries are staring at huge losses running into billions of dollars starting January 2024 following their expulsion from the African Growth and Opportunity Act (AGOA). The move will further worsen the unemployment crisis in the affected countries. Agoa offers thousands of jobs in apparels industry, especially to the youth.…