The Government of Uganda has insisted that Uganda will have its oil out of the ground come 2020 despite many analysts and Ugandans have their reservations about the set deadline. This assurance was revealed by Eng. Irene Muloni, Uganda’s Minister for Energy and Minerals during the signing of the Intergovernmental
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Two Kenyan banks with operations in Uganda have won the prestigious African Banker Awards for the year 2017. Equity Bank Kenya won the Best Retail Bank Award while KCB Bank walked away with the Best Regional Bank in East Africa. Winners of the 2017 African Banker Awards were announced at a
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China has received a downgrade on its credit score, on worries about the future state of the economy. Moody's Investors Services brought down China's long-term local currency and foreign currency issuer ratings by one notch to A1 from Aa3. But China's finance ministry said Moody's was exaggerating the mainland's economic
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China will further open its economy to foreign investors, through measures such as allowing investment in more industries, such as services, state television said on Tuesday, citing a reform group meeting chaired by President Xi Jinping. China will also step up regulation of overseas business operations of Chinese companies and
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The secret rules which Facebook bosses use to decide what its two billion users can post on the site are revealed for the first time. The Guardian newspaper claims to have seen more than 100 internal training manuals, spreadsheets and flowcharts which give insight into what Facebook deems is or
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Sudanese President Omar al-Bashir has decided not to take up an invitation from Saudi Arabia to attend an Islamic summit at which US President Donald Trump will be guest of honour. Mr Bashir, who cited "private reasons", is wanted for alleged war crimes in Darfur and the US was reportedly
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Rwanda Utilities Regulatory Authority (RURA) on Wednesday imposed a Rwf7 billion (Shs30.7bn) fine on MTN Rwanda Ltd over what the regulator said was non-compliance with licensing obligations by the latter, according to a statement. According to the regulator, MTN, the country’s biggest telecom by subscription, breached licensing obligations by hosting
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Manchester United has reported a loss for the first three months of the year as operating expenses soared. It lost £3.8m between January and March, down from a £13.7m profit in the same period last year. The Old Trafford club incurred higher player contract expenses, and was also hit by
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South Africa's Vodacom is set to a 35 percent stake in Safaricom from its parent company Vodafone for US$2.59 billion (Shs9.39 trillion), expanding its reach into Kenya. Safaricom, which is 40 percent owned by Britain's Vodafone and 35 percent by Kenya's government, has the largest subscriber base in its home
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Uganda Peoples Defence Forces (UPDF) soldiers in the Central African Republic (CAR) have been accused of sexually abusing women in the war affected country. Human Rights Watch said on Monday that at least 13 women and girls have been sexually exploited or abused since 2015. The human rights body adds
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