Four Kenya based companies have announced nearly 1,700 job cuts in just about three weeks, shinning a spotlight on the worsening unemployment crisis in the country, Business Daily reports. The four firms - East African Portland Cement Company (EAPCC), Telkom Kenya, Stanbic Bank of Kenya and East African Breweries Limited
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People Power, a pressure group led by Kyaddondo East MP Robert Kyagulanyi, has unveiled a coordination team that will spearhead its activities in Bunyoro region, ahead of the 2021 presidential elections. The Bunyoro People Power district coordinators were unveiled on Saturday afternoon by Barnabas Tinkasiimire, the Chief Coordinator of People
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The Uganda Shilling remained largely stable over the quarter ended May 2019 despite some volatility recorded in April 2019. However, according to the State of the Economy Report released by Bank of Uganda (BoU) in July 2019, outlook indicates that the local unit is likely to get weaker. On quarterly
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President Yoweri Museveni has listed a number of agribusiness enterprises that will help 68% of Uganda’s population get out of subsistence farming and join the money economy. In his commentary on his just concluded wealth creation countrywide tour, Museveni says leaders should help the 68% of Ugandans who are still
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There are worries that Uganda’s public debt could hit past the 50% threshold. According to the State of the Economy Report released by Bank of Uganda (BoU) in July 2019, the total public debt is projected to rise from 42.2 percent to 45.7 percent of GDP in nominal terms in
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The 25 wealthiest dynasties on the planet control $1.4 trillion (Shs15 Quadrillion). The numbers are mind-boggling: $70,000 (Shs258.8 million) per minute, $4 million (Shs15.7 billion) per hour, $100 million (Shs369.8 billion) per day. That’s how quickly the fortune of the Waltons, the clan behind Walmart Inc., has been growing since
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President Yoweri Museveni has appealed to all people and organisations working to promote trade and investment in Uganda to put more efforts towards uplifting the 68% of Uganda’s population who are still living the subsistence way of life so that they join money economy. He said that failure to do
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The Fall Armyworm (FAW) is a new pest in Africa and is native to tropical and subtropical regions of the Americas. The pest is known to feed on over 100 plant species, with cereals most preferred. In Uganda, FAW has been observed feeding on maize, millet, rice, wheat, sugarcane and
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A US company involved in the cultivation and processing of marijuana has announced plans to cross-list on the Nairobi Securities Exchange (NSE), putting to test Kenya’s resolve to maintain the drug on the list of banned narcotics amid legislative pressure to legalise it, Business Daily reports. The firm, Bangi Inc.,
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Kenyan sports has been dealt a huge blow after gaming giants SportPesa confirmed they have cancelled all sports sponsorship in the country with immediate effect. SportPesa is a direct sponsor of the Kenyan Premier League (KPL) and two clubs that participate in the top-tier – AFC Leopards and Gor Mahia,
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