Treasury eyes Sh78bn in new IMF budget support
Dr. Thugge has reported that there is still $1.4 billion remaining under the IMF program, which is equivalent to Sh181.7 billion. “We expect to receive $1.4 billion from the IMF … Read More
Category: Markets
List of African Countries Classified as Low-Income
A large number of African countries are categorized as low-income countries in the global economy. This classification has a lot of disadvantages, but it also offers the chance to solve … Read More
Fitch Lowers Dangote’s Credit Rating Amidst Liquidity Challenges and Naira Depreciation
Fitch Ratings has downgraded Dangote Industries Ltd.’s creditworthiness, citing a “significant deterioration in the group’s liquidity position” among other factors. Fitch cuts Dangote’s credit rating over liquidity issues Fitch Ratings … Read More
Mobius Africa to Cease Operations After a Decade as a Low-Cost SUV Innovator
Kenya’s Mobius Motors has chosen to cease operations due to financial difficulties. Mobius Africa’s low-cost SUV pioneer to end operations after a decade Mobius Motors, a manufacturer of rugged, affordable … Read More
Court Blocks Ethiopian Airlines’ Acquisition of Nigeria Air
In a landmark ruling, the Federal High Court in Lagos has declared the sale of Nigeria Air Ltd to Ethiopian Airlines null and void. Ethiopian Airlines blocked from acquiring … Read More
Uganda to Host Its Inaugural E-Mobility Expo
On August 16, 2024, Uganda will host its inaugural E-Mobility Expo, organized by Kiira Motors Corporation (KMC) at the Kiira Vehicle Plant in Jinja. Under the theme “The Future is … Read More
Global Chocolate Prices at Risk as African Cocoa Production Faces Uncertain Future, Warns Report
Africa, responsible for roughly 70% of the world’s cocoa production, mainly driven by Cote d’Ivoire and Ghana, faces unsettling times ahead. The past year saw a staggering 47% surge in … Read More
Uganda Airlines Inaugurates Mumbai Flight Route, Strengthening Diplomatic Relations with India
The Uganda-India Business Forum convened distinguished representatives from both the Ugandan Government and the Indian community, coming together to celebrate the imminent inauguration of Uganda Airlines’ Mumbai route. This eagerly … Read More
Anticipated Participation of Over 300,000 at the International Trade Fair in Kampala
Ezra Muhumuza, the Executive Director of the Uganda Manufacturers Association, has disclosed that the upcoming international trade fair at the Uganda Manufacturers Show Grounds in Kampala is expected to draw … Read More
Russia Discusses Transport Infrastructure Development for Malawi & Burkina Faso
Russian and African leaders, along with senior officials, convened in St. Petersburg during the Second Russia-Africa Summit and Economic and Humanitarian Forum earlier this week. The distinguished attendees delved into … Read More