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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The Speaker of Parliament, Rebecca Kadaga, has cited extreme poverty, lack of education, conflict and instability, as the drivers of child labour in the world. Kadaga noted that in a home where the basics of life cannot be met, children become part of the labour force to sustain the family
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Uganda's Permanent Representative to the United Nations (UN) Amb. Adonia AYEBARE has been appointed by the President of the UN General Assembly, H.E. Tijjani Muhammad BANDE, as the External Adviser on G77 matters. In execution of one of the key roles as External Adviser, Amb. Ayebare is expected to galvanise
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Halima Aliko Dangote (pictured) has been appointed as the Group Executive Director, Commercial Operations of Dangote Industries Limited (DIL), one of Africa's largest and most diversified business conglomerates. According to a release by the company, Halima Aliko Dangote, a Nigerian businesswoman and daughter to Africa’s richest man, Aliko Dangote, is
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Absa Bank Uganda, a subsidiary of Absa Group Limited has today received the license to operateand trade under its new name from Bank of Uganda. Formerly known as Barclays Bank Uganda, the name change marks the start of a new era for the bank’s operations, one that sees the realisation
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Deepak Malik (pictured) has been coopted to the Board of Ecobank Transnational Incorporated (ETI), the parent company of the Ecobank Group as a Non-Executive Director. Deepak Malik joins the ETI Board of Directors as a nominee of Arise B.V. (“Arise”) which now holds a 14.1% equity stake in ETI following
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The second day of the 2019 Rugby Africa Men’s Sevens which was sponsored by Société Générale has come to an end on Saturday and so did the tournament. The continental competition was hosted by the South African Rugby Union and organised by Rugby Africa (RugbyAfrique.com). Kenya were crowned champions after
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Irene Muloni, the Ministry of Energy and Mineral Development, has revealed that 90% of Uganda’s energy mix is from renewable sources. “There is vast potential for renewable energy sources from the various water bodies in the Country,” she noted. This was during the Ministerial Panel at the 26th Africa Oil Week
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The Uganda shilling appreciated mildly in the last trading session of the week ending 8th November 2019 with improved forex supply as market demand became less intense. Trading was in the range of 3695/3705. In the interbank shilling market, overnight funds traded at an average of 6% while one week
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