EAC News

The African Development Bank (AfDB) has approved sh74.2b loan to the Uganda Development Bank Ltd to support Ugandan entrepreneurs, including small and medium businesses. This loan is expected to benefit entrepreneurs involved in manufacturing and agro-processing. The money is for online lending and people will be allowed to borrow the …

  Egypt-Uganda Food Security Company (EUFS), based in Luweero, Uganda completed its first 50-ton meat shipment to Egypt recently. The abattoir, touted as the largest in Africa began operations since its commissioning in 2016, following an agreement between the two countries. The move is poised to make Uganda’s economy better …

Uganda has become the first African country to sign an agreement with the Regional Liquidity Support Facility (RLSF), a joint initiative of the African Trade Insurance Agency (ATI), a Pan-African and multilateral guarantor and KfW with funding from German Ministry of Economic Cooperation and Development. Uganda is abundantly endowed with energy resources, …

Rwanda recorded its first highest roasted beans shipment to the United States of America that generated $77,000 for the Rwandan government. The foreign earnings recorded a high due to its value to the country other than what the country used to export in the previous years. Rwanda is a major …

East Africa’s largest organic fertiliser factory is set to open in the eastern district of Tororo in October.  Sitting on a 600-acre piece of land, the Guangzhou Dongsong Energy Group-owned industrial complex in Tororo District, will produce about 300,000 tonnes of organic fertilisers annually, making it the biggest organic fertiliser …

Uganda has passed the controversial 1% Mobile Money Tax. The excise duty amendment bill 2018 that seeks to place a 1% tax on every transaction made by phone users on Mobile money platforms has been passed by Ugandan Parliament. Government says the amendment in the tax regime will help mobilize …

Kenya is calling for further efforts to control expenditure at the African Union (AU), even as it struggles to pay up its membership fees to the continental body. Ahead of the African Union Summit due on Sunday in the Mauritanian capital of Nouakchott, Foreign Affairs Cabinet Secretary Monica Juma told …

Crackdown on suspected dirty sugar in Kenya has continued with police impounding a number of trucks ferrying the sweetener in Rongo, Migori County. The standards Act under section 9, criminalizes the manufacturing of sugar under the conditions that the contraband sugar was being produced. The businessmen didn’t comply with the …

At least  shs22 billion is expected to be spent on improving roads in Arusha through phase phase two of Tanzania strategic cities project (TSCP). Phase two of the project will also involve the improvement of the drainage systems, construction of solid waste dam in Muriet and containers for the same. …

Uganda will benefit from shs26b agro processing and value addition fund that has been launched by the United Nations Capital Development Fund (UNCDF). The launch is part of shs100b facility that seeks to improve agro processing and value addition in northern Uganda and West Nile. Dr. Dmitry Pozahidaev, from UNCDF, …