The African Development Bank (AfDB) has signed an unfunded $250-million (Shs920bn) Risk Participation Agreement (RPA) facility with ABSA - a pan-Africa financial institution with a solid presence in 12 African countries. The 3-year RPA facility was signed November 12, on the sidelines of the Africa Investment Form through its trade
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East Africa and the Indian Ocean have witnessed substantial discoveries of oil and gas in the last decade, but the full potential of the region has yet to be realised. At this year’s Africa Oil Week (Africa-OilWeek.com) event there was a big focus on the region and its growing importance.
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Last night the Jack Ma Foundation hosted its first annual Africa Netpreneur Prize Initiative grand finale awarding $1 million (Shs3.6bn) in prize money to 10 entrepreneurs from across Africa. The ANPI is a flagship initiative of the Jack Ma Foundation, created by China’s richest man, Jack Ma after his first
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Cipla Quality Chemical Industries Limited (CiplaQCIL) has flagged off the first consignment of anti-malarial drugs to Rwanda as part of the President’s Malaria Initiative (PMI). The company was awarded the PMI contract several months ago to manufacture and supply malaria treatments (Artemether Lumefantrine) to African countries and those outside Africa
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It is not often that communications service providers and their regulator jointly subject themselves to public questioning regarding service delivery. The Communications Consumer Parliament in Lira Town last Friday provided this rare opportunity. As the more than three hundred people who turned up at Margaritha Palace Hotel can testify, the
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Following the successful completion of their 35th Annual Conference, the members of the African Union for Housing Finance together agreed on a Cape Town Declaration on Housing Finance, at their Annual General Meeting on 6 November 2019. The 35 active AUHF members expressed their commitment to realising housing affordability across
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The International Monetary Fund (IMF) staff team led by Laure Redifer, visited Kigali during October 31- November 13, 2019 to hold discussions on the first review of Rwanda’s Policy Consultation Instrument (PCI)-supported program. Ms. Redifer issued the following statement at the end of the visit: “Economic activity outpaced expectations in
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Family businesses are rarely viewed as a sector which could influence economic growth, but the Africa Investment Forum is recognising them as important players on the continent. For the first time at a conference of this nature, families running business empires have been given a platform to share their views
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The European Investment Bank (EIB) has announced a $1.1 billion (Shs4 trillion) lending programme to help women entrepreneurs on the African continent. EIB Vice President, Ambroise Fayolle, also revealed that the bank has signed three further agreements to boost sustainable development on the continent. But the major deal is what
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Cipla Quality Chemical Industries Limited (CiplaQCIL), a pharmaceutical manufacturing company in Uganda has issued a profit warning informing shareholders that the company is likely to record losses this year. A profit warning is a warning declaration issued by a listed company to investors through a stock exchange. It warns investors that
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