Kenya’s government and domestic lenders agreed to convert $405.3 million of Kenya Airways Plc debt into equity, giving the state a controlling stake and diluting other shareholders including Air France-KLM, reports Bloomberg. The government, which has given Kenya Airways shilling and U.S.-dollar loans totalling $238.1 million, will increase its stake to
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Stanbic Bank won an unprecedented five accolades including the overall Gold award at the 2017 Financial Reporting awards held at the Serena Hotel in Kampala. Held under the theme, ‘Moving beyond numbers: Unlocking the value through reporting’ different institutions were awarded in 13 categories, with Stanbic Bank winning the Annual
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Dubai-based flydubai marked its fifth Dubai Airshow by unveiling its brand-new Boeing 737 MAX 8. This is the first aircraft to be delivered from the largest single-aisle Boeing aircraft order placed in the Middle East in the 2013 edition of the show. The new aircraft, bearing the UAE registration mark
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Fear of competition from foreign entrants caused Nakumatt Supermarket to divert billions of shillings into a rapid expansion in a bid to lock them out of strategic locations, reports the Standard. In an interview with an insider, news of entry of new players caused panic within top management of Nakumatt,
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Botswana has the best police in Africa and Nigeria the worst, the World Internal Security and Police Index reveals, reports this is Africa site. Globally, Uganda, Kenya and the DRC were ranked 124, 125 and 126 respectively, out of the 127 countries ranked. Botswana with a population of 2 million
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Months after Tanzania and Uganda inked a 1,445-kilometre billion dollar crude oil pipeline deal, President John Magufuli has pledged speedy implementation of the line that will run to the port city of Tanga. Addressing a public rally in Ruzingwa, Uganda Thursday before laying the second foundation stone for the project,
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The Catholic Church has warned ‘rebel’ priest Fr. Jacinto Kibuuka against misleading the innocent faithful with false doctrine. In a statement dated November 10, 2017 signed off by Most Rev. John Baptist Odama, the Archbishop of Gulu and Chairman of Uganda Episcopal Conference, the Catholic Church says Fr. Kibuuka can’t
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There was a battle of brands during the official handover of the Jinja Storage Terminal by the energy ministry to the Uganda National Oil Company (UNOC) last week. The Storage Terminal managed by a private firm, One Petroleum operates under UNOC and received funding from Equity Bank Uganda to refurbish
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More than 400 representatives of youth, business, education practitioners and policy-making from 44 countries across the African continent as well as European partners have called for improving job perspectives of the African Youth through employment oriented education and skills development. The call was made at the recently concluded “Africa Talks
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By Livingstone Mukasa The way markets allocate resources can be sometimes ruthless. Take the fact that 8 Men in the West are richer than 3,600,000,000 people at the bottom of the pyramid. Why would this be acceptable? And why would it be happening on our watch. Less than 500 years
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