Foreign traders at Nairobi Securities Exchange (NSE) sold shares worth Sh34.2 billion (UShs1.2 trillion) in three months ended September due to heightened political uncertainty, reports the Standard Newspaper. According to the data from the market regulator, Capital Markets Authority (CMA), most of the foreign investors chose to sell their stakes
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Troubled retail operator Nakumatt Holdings has received accolade in neighbouring Rwanda after it was recognised as the best taxpayer, reports Business Daily Africa. Nakumatt Rwanda, which operates 3 retail stores in Kigali, took home the 2016 Best Taxpayer trophy as well as the Best Electronic Billing Machine (EBM) user award
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The Tony Elumelu Foundation (TEF), Africa’s leading philanthropy dedicated to supporting entrepreneurship, concluded its 3rd annual TEF Entrepreneurship Forum on 14th of October 2017 in Lagos. The Forum hosted more than 1,300 participants from 54 African countries. The most diverse and inclusive gathering of African entrepreneurs on the continent, the
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Uganda's President Yoweri Museveni has praised the father of the country's Inspector General of Police (IGP) Kale Kayihura saying he was a great Pan Africanist. The president made the remarks during a thanksgiving ceremony to celebrate the life of John Kale Kalekyezi at Isaaza Grounds in Kisoro Municipality. Below is the
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Samsung Electronics chief executive Kwon Oh-hyun has resigned citing an "unprecedented crisis". It is the latest management upheaval at the firm after the heir of the entire Samsung Group was imprisoned for corruption in August. Mr Kwon is one of three co-chief executives of Samsung Electronics. His resignation comes on
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At least five students and a security guard have been shot and killed in a dawn attack at a secondary school in northern Kenya. The attack was allegedly led by a former student who had been suspended, the school's head teacher said. He is accused of returning to dormitories at
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A prominent opponent of Rwandan President Paul Kagame pleaded not guilty Wednesday to charges of forgery and inciting insurrection and said she was being prevented from accessing her case file to chart her defense. Any legal misstep in the trial of Diane Shima Rwigara could further mar the reputation of
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To remain competitive and relevant, commercial banks are increasingly embracing mobile banking for convenience and cost-cutting purposes. It is on this premise that Equity Bank Uganda Limited on Friday launched its range of digital banking solutions into the market in a bid to enhance the banking experience of customers as
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The International Monetary Fund (IMF) has cut Kenya’s economic growth forecast for the second time, pointing to the country’s hard times. In its World Economic Outlook, October 2017, the IMF expects the economy to grow by five per cent in 2017, slightly lower than their projected growth of 5.3 per
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The Uganda Shilling weakened and breached the key resistance level and traded above the 3600 during the week ending 13th October 2017, driven by the surge in demand from importers and inter-bank. After months of stability, trading was in the range of 3620/3630. In inter-bank money market, overnight funds traded
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