Global ratings agency Moodys has warned of a likely downgrade of credit and deposit scores of three Kenyan banks, citing the country’s deteriorating debt situation. The agency said it had placed on review for downgrade the B1 global scale long-term local-currency deposit ratings and the b1 baseline credit assessment (BCA)
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The International Campaign to Abolish Nuclear Weapons has won the Nobel Peace Prize. The Norwegian Nobel Committee honored the Geneva-based group “for its work to draw attention to the catastrophic humanitarian consequences of any use of nuclear weapons and for its ground-breaking efforts to achieve a treaty-based prohibition of such
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In the run up to Uganda’s 55th independence anniversary celebrations scheduled for October 9, 2017, Business Focus will be running stories about the economic progress the East African country has made. Uganda attained independence from Britain on October9, 1962. And to attain full economic independence, the then President Idi Amin
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The Tony Elumelu Foundation (TEF), Africa’s largest philanthropy focused on supporting entrepreneurship, Thursday announced that the 3rd annual TEF Entrepreneurship Forum – the most inclusive gathering of African SMEs – will take place on October 13-14 in Lagos. This is the first year the invitation-only Forum is open to non-TEF
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In commemoration of the International Day of the Girl Child, one lucky girl, 10- year old Stacia Nampijja was given control of Uganda’s leading financial institution, Stanbic Bank as acting Chief Executive for the day. On Thursday, Nampijja chaired a meeting of the banks top decision making body EXCO, met
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Kenya will deploy security forces to monitor protests planned by the main opposition alliance, the government’s spokesman said, as he criticized the demonstrations for slowing down business. Bloomberg reports that the opposition National Super Alliance plans to hold demonstrations in the capital, Nairobi, and other cities on Friday. The coalition
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Hilton, one of the biggest hospitality companies in the world has committed a total of US$50 million (about Shs180.4bn) over the next five years towards the Hilton Africa Growth Initiative to support the continued expansion of its Sub-Saharan African portfolio. The company said in a statement n Thursday that these
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State Minister for Water Ronald Kibuule will not be investigated by Parliament's Rules, Privileges and Discipline Committee for smuggling a gun into the chambers of parliament last week. Rules committee Chairperson Clement-Ongalo Obote says that although suspended, alongside other legislators, Kibuule's case was never referred to the committee by the
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A report compiled by the Parliamentary Police Directorate has pinned 38 Members of Parliament for allegedly causing chaos and vandalizing equipment in the Chambers last week. The report signed by Paul Kato, the OC CID parliamentary police was sent to Speaker of Parliament Rebecca Kadaga on September 28. It is
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Dr. Abel Rwendeire, the Deputy Chairperson of National Planning Authority and Chairman of Makerere University Visitation Committee is dead. Rwendeire is said to have died of heart failure on Thursday morning. Rwendeire joined NPA in July 2008 following his four year tenure as a Managing Director (2002- 2006) at the
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