Sunday 20 August 2017
(APA 08/17/17)
Uganda is to supply power to Democratic Republic of Congo (DRC) in the next three years following an agreement signed on Thursday between the two countries. According to a memorandum of Understanding signed in Kampala, a power transmission line connecting both countries from Kasese District in Western Uganda to Beni city in northeastern DR Congo, Butembo in North Kivu and finally to Bunia town in Ituri Province. According to Uganda’s energy minister Irene Muloni the Ugandan stretch of the line will be about 70 kilometres and "each government will take care of its portion. Uganda is expected to contribute $22m towards financing of the $150m project while the rest will be the responsibility of DR...
(Reuters (Eng) 08/16/17)
KAMPALA (Reuters) - Uganda has signed a preliminary agreement with neighboring Democratic Republic of Congo to build a power transmission line connecting both countries so that Kampala can sell electricity to the eastern Congo, a senior official said on Wednesday. Uganda generates about 800 megawatts of electricity but that should double in about one and a half years when two hydropower dams are completed, giving the east African nation surplus energy. By contrast, less than 15 percent of Congo has access to electricity and blackouts are common. Irene Muloni, Uganda's energy minister, told Reuters the two countries had signed a memorandum of understanding this month to jointly construct a high-voltage power line. The line, with an estimated length of 350...
(New Vision 08/09/17)
The Government geologists estimate Uganda’s oil reserves at 6.5 billion barrels, of which 1.4-1.7 billion are considered recoverable. Uganda said on Monday it had agreed preliminary terms with a consortium of investors, including General Electric to build and operate the country’s first oil refinery, reviving a much-delayed project. The Government geologists estimate Uganda’s oil reserves at 6.5 billion barrels, of which 1.4-1.7 billion are considered recoverable. The Albertine Graben Refinery Consortium, which also includes Yaatra Ventures LLC, Intracontinental Asset Holdings Ltd. and Italy’s Saipem SpA, was picked after a review of more than 40 companies
(Business Daily 08/09/17)
Kenya’s electricity imports from Uganda have grown 281 per cent in the six months to June as drought cut local generation of hydro-electric power by a third or 615.69 million kilowatt hours. Kenya imported 131.6 million kilowatt hours (kWh) from Uganda in the first half of this year compared to 34.5 million units in the same period last year — marking a 281 per cent growth, according to official data. This is a departure from last year when Kenya cut...
(New Vision 08/09/17)
The Shilling was quoted at 3,609.58/3,619.58 by Bank of Uganda much stronger than the previous week’s close. The Uganda Shilling weakened slightly on account of elevated demand from energy and manufacturing sectors but stabilized at close of the previous week as demand waned. The shilling trade in the range of 3610/3620 buying and selling respectively. In the first trading session on Monday, the Shilling was quoted at 3,609.58/3,619.58 by Bank of Uganda much stronger than the previous week’s close. In...
(Xinhuanet 08/09/17)
The United States Trade Representative (USTR) on Wednesday affirmed the commitment of his country to Africa and saw "great potential to grow and deepen trade relationship." Robert E. Lighthizer expressed this in opening speech of the ministerial plenary as part of the 16th Forum of the Africa Growth and Opportunity Act (AGOA), on Wednesday here in Togolese capital Lome. "The United States is committed to Africa. We see great potential to grow and deepen our trade relationship, with the goal...
(New Vision 08/04/17)
Zhang Hao is the managing director of the Zhang Group, which processes and packs fruit juice, mango wine, manufactures tiles, and electronics among others. President Yoweri Museveni has said that issues such as high grid power lines, improved accessible road networks and ministerial policy matters should not constitute delays in the development of serious investors’ projects in the country. The President was speaking during a meeting with a Chinese investor, Zhang Hao at State House, Entebbe on Thursday. Zhang Hao is the managing director of the Zhang Group, which is already involved in the processing and packaging of fruit juice
(Xinhuanet 08/03/17)
Trade between China and Africa reached 85.3 billion U.S. dollars in H1, surging 19 percent year on year as the two sides strengthened cooperation in a wide range of areas, official data showed Thursday. The data reversed the negative growth trend since 2015, according to Gao Feng, spokesperson with the Ministry of Commerce. During January-June, Chinese imports from Africa, including minerals, agricultural products and fruits, amounted to 38.4 billion U.S. dollars, jumping 46 percent from the same period last year,...
(Bloomberg 08/02/17)
Julien Ochala can’t live without his morning cup of Joe. But not just any coffee will do. For the past five years, the 37-year-old physiology lecturer at King’s College London has visited the same store every week to grab a pack of his beloved Kenyan brew. And he’s not put off by the cost: at 37 pounds a kilogram ($22 a pound), it’s more than double a similar supermarket product. "I take Kenyan coffee every morning," said Ochala, who buys...
(Bloomberg 08/01/17)
Uganda, Africa’s top coffee exporter, pushed back a target of boosting annual output fivefold by a decade because it has taken longer than thought to introduce programs needed to raise production. The country now expects to reach a target of 20 million 60-kilogram (132-pound) bags a year by 2030 instead of 2020, according to the Agriculture Ministry. Programs related to better plantings and irrigation as well as the application of fertilizers started later than expected, it said. Annual output currently...
(Bloomberg 08/01/17)
British American Tobacco Plc faces a formal probe by the U.K.’s Serious Fraud Office following reports that the maker of Dunhill cigarettes bribed African government officials to influence tobacco legislation. BAT said Tuesday it is running its own investigations, via external legal advisers, into allegations of misconduct and is cooperating with the U.K. prosecutor. A BBC report two years ago said BAT had a lobbyist arrange bribes totaling $26,000 for three public officials in Rwanda, Burundi and the Comoros Islands...
(New Vision 07/28/17)
“Government has been holding talk shows. Who determines the content of the talk shows?" Government has been accused of resorting to public relations instead of providing actual information that citizens want in matters regarding the oil and gas industry. Peter Magelah Gwayaka, a researcher and programme manager with Chapter Four, says there is misconception by public servants that the access to information law means feeding the population with more public relations as opposed to access to records held by government...
(New Vision 07/28/17)
“If we do not manage these reserves well, we shall not get a second chance." As Uganda moves ever closer to the magic year of oil production — 2021, Dozith Abeinomugisha, the director for exploration at the Petroleum Authority of Uganda, has warned that the country cannot afford to make mistakes because of the limited nature of the resource. “We do not have the reserves that many countries have. We do not have the reserves that Nigeria and Angola have...
(Daily Monitor 07/28/17)
Wakiso — The National Environmental Authority (Nema) has rejected a proposal by a Chinese company to excavate sand along the shores of Lake Victoria at Kawuku in Nkumba Parish, Wakiso District. The company, Mango Tree Group Ltd, has since last year been in the spot over allegedly engaging in illegal sand mining activities in the area. The company directors, however, sought official clearance from Nema, to conduct commercial sand mining at three sites on the lake shores at Nkumba, next...
(New Vision 07/28/17)
This is mostly through under-pricing to get contracts and inability to complete projects within costs and schedule. This is mostly through under-pricing to get contracts and inability to complete projects within costs and schedule, according to the World Bank’s Uganda Economic Update, 9th Edition. Rachel Sebudde, a senior economist at the World Bank who presented the report, said the financial loss worsens the gap in infrastructure deficits for Uganda which the country has been trying to fill. The function took...
(New Vision 07/28/17)
Majority of Uganda's imported fuel comes in through Kenya's Mombasa Port. Ahead of next month's general elections in neighbouring Kenya, Uganda has assured the public that it is "prepared" and "will continue to do everything possible" to see that there is a "steady supply of petroleum products to the country". Majority of Uganda's imported fuel comes in through Kenya's Mombasa port. The rest passes through Tanzania's Dar-es-Salaam port. And so as Kenya goes to the polls early next month, Uganda's...
(Reuters (Eng) 07/28/17)
London — Uganda between 2005 and 2010 had one of the highest rates of deforestation in the world Paying Ugandan farmers not to chop down trees cut deforestation in half and was almost 50 times more cost effective in fighting climate change than many energy efficiency programmes in the United States, according to a study released on Thursday. The study, by researchers from the U.S.'s Northwestern University and Dutch organisation Porticus, involved 121 villages with half paid about $28 a...
(Reuters (Eng) 07/28/17)
Barclays reported a 1.2 billion pound ($1.57 billion)attributable first half loss on Friday after taking a 2.5 billion pound hit from the sale of its Africa business and calling an end to its restructuring. The British bank said it had made a 1.4 billion pound loss on the sale of 33 percent of Barclays Africa Group, and took a further 1.1 billion pound impairment charge on the sale. Barclays in June cut its stake in Barclays Africa Group to 15...
(Xinhuanet 07/27/17)
South Sudan and Uganda have agreed on mechanisms to boost trade between the two countries through enhancing infrastructure development and cross-border trade electricity transmission. Speaking on state-owned radio Thursday, Dhieu Mathok, South Sudan's Minister of Energy and Dams said the government concluded a two-day discussion with their Ugandan counterparts and the two countries have to cooperate in cross-border electrification and road connectivity. He said Uganda has agreed to supply electricity to the South Sudan border towns of Nimule and Kaya,...
(AfricaNews 07/27/17)
At a time when Africa is going through a difficult situation, the blue economy is emerging as a stepping stone to relaunch the continent in the right economic direction. But this type of economy is seriously threatened by “predators” who do not hesitate to plunder resources. The “cancer of illegal fishing” costs Africa about $ 1.6 million annually based on Economic Commission for Africa’s estimates. This and more on this week’s edition segment on Business on the Morning Call with...

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