| Africatime
Saturday 29 April 2017
(Bloomberg 01/10/17)
Total SA agreed to buy a stake in a project in Uganda from Tullow Oil Plc for $900 million as a recovery in crude prices accelerates the pace of deals in the energy industry. French oil major Total will acquire a controlling stake in the Lake Albert development, the companies said Monday in separate statements. Total will pay an initial $100 million in cash, with another $100 million split equally when the project gets sanctioned and when it first starts pumping oil. The remaining $700 million is a “deferred consideration,” used by Tullow to fund its share of the costs. “Our increased share in the Lake Albert project will bring significant value to Total and fits with our strategy of...
(The Telegraph 01/10/17)
Tullow Oil had sold two-thirds of its stake in Uganda's first ever oil development to its partner, French major Total, for $900m. The giant project on the shores of Lake Albert, where Tullow first discovered oil in 2006, is estimated to contain 1.7bn barrels of oil and forecast to eventually produce 230,000 barrels per day (bpd). Its development is expected to cost $3bn to get to first oil production, and require a further $3.5bn to be spent on a new pipeline to export the oil through Tanzania. Ownership of the licence areas had been evenly split between Tullow, Total and China's CNOOC but under Monday's deal Tullow will sell Total a near-22pc stake, leaving it with just under 12pc. Total...
(BBC News Africa 01/10/17)
Uganda's leader Yoweri Museveni has promoted his eldest son to become a special presidential adviser in a reshuffle of army commanders. Maj Gen Muhoozi Kainerugaba has risen rapidly within the military, fuelling speculation that he is being groomed to become president one day. Analysts say his new role, working more closely with state house, will broaden his remit and experience. Mr Museveni, 72, is one of Africa's longest-serving leaders. He came to power in 1986 after winning a five-year guerrilla war - and last year won his fifth term in office with more than 60% of the vote. Gen Kainerugaba, 42, had been in charge of the Special Forces in charge of his father's security since 2008. He graduated from...
(Huffingtonpost 01/10/17)
And it’s ironic given the growing consensus that Beijing is the U.S. president-elect’s enemy number one. Eric Olander and Cobus van Staden are the duo behind the China Africa Project and hosts of the popular China in Africa Podcast. We’re here to answer your most pressing, puzzling, even politically incorrect questions, about all things related to the Chinese in Africa and Africans in China. The election of Donald Trump has introduced a new era of uncertainty in global politics, especially in Africa where the president-elect has said little about his foreign policy agenda for the continent. Not surprisingly, Trump’s unpredictable, provocative style is sparking widespread concern across the continent as to whether the United States plans to remain engaged in...
(AFP (eng) 01/09/17)
Gabon witnessed one of the most sensational finishes to an Africa Cup of Nations tournament when no-hopers Zambia stunned the Ivory Coast to win the 2012 final. Zambia failed to qualify this time, but the Ivorians will be among the favourites again when the competition returns to the central African state with the first fixtures scheduled for Saturday. AFP Sport rates the chances of the 16 challengers for the $4 million (3.8 million euros) first prize (last three competitive results in brackets with W denoting a win, D a draw and L a loss): FAVOURITES Egypt (WWW) Back among the elite and in good form. After winning three consecutive Cup of Nations titles, they failed to qualify for the past...
(AFP (eng) 01/06/17)
Uganda coach Milutin Sredejovic has named only four home-based players in his 23-man squad for the Africa Cup of Nations in Gabon. The Serbian-born coach, who has successfully managed to steer the Ugandan team to their first Nations Cup in 39 years, has included 18-year-old striker Muhammad Shaban in the squad. Shaban, who turns out for the Arua-based Premier league side Onduparaka, is one of the three players who have received their first call-ups to a squad which is heavily-laden with overseas-based players. The others are defenders Timothy Awany of the Kampala Capital City Authority (KCCA) and Shafik Batambuze, who plays with the Kenyan champions Tusker FC.
(AFP (eng) 01/06/17)
Ugandan midfielder Godfrey Walusimbi said Friday that the Cranes' first African Cup of Nations appearance in four decades had handed players the opportunity of a lifetime. Walusimbi, 27, and his fellow Kenyan-based defender, Shafik Batambuze were named Thursday as part of Uganda's 23-man squad for the biennial competition which starts in Gabon on January 14. "For us Ugandans, this chance comes once in a lifetime. I cannot wait to play there and make some piece of history," the left-footed Walusimbi, who turns out for the former Kenyan league champions Gor Mahia said in Nairobi. Uganda will play in the Africa Cup of Nations for the first time in 38 years. In the final round of qualifying for Gabon, Uganda managed...
(Agence Ecofin 01/06/17)
Indian firm Aaviskaar Venture Management Services (AVMS) has announced plans to raise between $100 million and $150 million for Africa investments. “We will start the fund-raising around the middle of 2017 and we expect to close it in 2018,” said Vineet Rai, founder of Intellecap-Aavishkaar group. The new African fund will focus on investing on African low-income groups, especially in the agriculture, finance and financial technology sectors. “We will use the sow-tend-reap strategy of multiple round investing and will be an early investor,” Rai told local Indian media Regions targeted are West and East Africa, especially Kenya, Ethiopia, Nigeria, Rwanda, Tanzania and Ghana. Investments will range from half a million to $5 million. The investment firm’s expansion strategy in Africa...
(Daily Monitor 01/05/17)
In June 2016, several traders under the Kampala City Traders Association (Kacita) had gone on as usual to access banking services of Crane Bank. Their hope was to walk into the bank and access letters of credit that would be used to ease exportation of goods. A letter of credit is issued by the bank to a buyer guaranteeing that the seller will receive prompt payment. In other words, the bank provides cover for the buyer in case they are unable to pay. Letters of credit are used by importers and are a key function of facilitating trade. When the traders went to Crane Bank, to their surprise, they could not access the facility. Bank of Uganda (BoU) had issued...
(New Vision 01/05/17)
Angiro said compensation of animals lost during the two-decade insurgency in Lango and northern Uganda is one of Museveni and NRM’s best achievements. An opposition leader, the Erute North MP, Charles Angiro Gutumoi of FDC has lauded President Yoweri Museveni for compensating people who lost their livestock during LRA insurgencies. Angiro said compensation of animals lost during the two-decade insurgency in Lango and northern Uganda is one of Museveni and NRM’s best achievements. The Lord`s Resistance Army (LRA) war forced thousands of people into internally displaced people`s camps. Dozens were killed. Briefing journalists at Pacific hotel in Lira municipality on Tuesday, Angiro urged the beneficiaries to restock the animal lost and avoid spending the money in unproductive venture. "People should...
(New Vision 01/05/17)
The donated equipment includes two dozers, four motor graders, four Compact rollers and four front-end loaders. The US government, through the department of state, has handed over non-lethal equipment to support the Ugandan military contingent in Somalia. The equipment support is worth billions of Ugandan shillings, according to a statement by Maj. Robert Kamara, the Uganda contingent spokesperson. The lot includes two dozers, four motor graders, four Compact rollers and four front-end loaders. Others are two trailer tractors, two low bed vehicles, four recovery trucks, two tele-handlers and an assortment of spare parts. James Watters, the site coordinator at the US department of state, handed over the equipment on behalf of the US government. He reiterated his government’s continued support...
(New Vision 01/05/17)
Over sh7b was paid to Uganda Revenue Authority (URA) staff and other public servants in bonuses allegedly for their role in the case that Uganda won against oil companies. A group of legislators want the Speaker of Parliament to institute a select committee to investigate senior government officials who benefited from a sh7b oil cash bonus. Over sh7b was paid to Uganda Revenue Authority (URA) staff and other public servants in bonuses allegedly for their role in the case that Uganda won against oil companies. Mbarara Municipality MP Micheal Tusiime noted that this has set a bad precedent in regards to recognition of civil servants. “Many people have served this country diligently but have never been rewarded financially,” Tusiime noted...
(New Vision 01/05/17)
Coach Micho names his final squad that will represent Uganda at the Africa Nations Cup finals in Gabon. Uganda national football team coach Milutin Sredejovic, best known as Micho, has named the final 23-man squad that will play at the African Cup of Nations finals in Gabon. As had earlier been planned, this was after Uganda’s warm-up game against Tunisia that saw The Cranes beaten 2-0 by Les Aigles de Carthage (Eagles of Carthage) in Tunis on Wednesday. With the final squad matter now out of the way, The Cranes will play Slovakia and Ivory Coast in their next warm-up games on January 8 and 11 respectively. The AFCON finals will start on January 14 and end on February 5...
(AFP (eng) 01/04/17)
Fourteen people were killed when a taxi swerved to avoid a cow and crashed into two large vehicles on what is known as Uganda's deadliest road, police said Wednesday. Eight people died on the spot including a journalist, while six others died later in hospital, regional traffic police chief, Scovia Birungi told AFP. Nine other other people had serious injuries, while the cow also died. The crash happened at Lwengo along the Masaka-Kampala highway on a stretch of road known locally as the most dangerous in Uganda. "The accident took place when a speeding omnibus taxi avoided hitting a cow that was crossing the road, (and) rammed into a bus and a truck,"
(AFP (eng) 01/04/17)
Italy vowed Wednesday to increase deportations of migrants whose asylum requests have been rejected, after a riot in a reception centre sparked by the death of a young woman. The country, which has been on the frontline of migrants arriving across the Mediterranean from North Africa, is pushing for an agreement with Niger and a renewed deal with Tunisia to facilitate returns. "We have saved many lives but we cannot accept rule-breaking. We need to speed up deportations," Foreign Minister Angelino Alfano, the country's former interior minister, said in an interview with La Stampa daily. He was "working to tie up agreements which will reduce arrivals and prevent departures" from the coast of North Africa, he said after a record...
(Agence Ecofin 01/03/17)
Uganda’s government in partnership with Korea Rural Community Corp (KRC), is preparing in the Kibuku and Palissa districts, located in the Eastern parts of the country, a Sh4.5 trillion ($1.28 billion) irrigation project which will be spear-headed by the Ministry of Agriculture. “The project, which is to be constructed on River Mpologoma in Pallisa and Kibuku districts, is to run for 49 years and is to be implemented in phases,” said Okassai Opolot, director of crop resources at Ministry of Agriculture. The project, in addition to help fight prolonged drought in the Eastern region of Uganda, will, according to the official, “improve post-harvest processing facilities, distribution, agricultural produce marketing and also build capacity for poverty alleviation and job creation in...
(BBC News Africa 01/03/17)
An electricity grid for the whole village Problem: A total of 1.3 billion people worldwide currently don't have electricity, according to Yale Environment 360. Getting people in rural areas on to the national grid is proving too difficult and traditional solar panels generate meagre amounts of energy. Solution: Steamaco makes solar and battery micro-grids which can work for a whole village. They are small electricity generation and distribution systems that operate independently of larger grids. How it works: Micro-grids are nothing new. The new part is that Steamaco's technology automates the regulation of electricity. So, if the system detects there will be a surge in demand for electricity, for example on a Saturday night when people want to start playing...
(Voice of America 12/30/16)
2016 was predicted to be a tough year for African economies, and it delivered. Traditional economic leaders faltered this year amid a storm of falling commodity prices, unpredictable and destructive weather like droughts and floods across large swaths of the the continent. Slow economic growth in China, a major investor and trading partner, only added to their challenges. “This year, you’ve seen the two Africas: the commodity exporters going through tough times, while the non-commodity exporters being more resilient,” Nigerian economist Nonso Obikili, who researches Nigerian and sub-Saharan economic trends for Economic Research Southern Africa, told VOA. He says 2016 has been hard on African commodity giants as oil prices fell to lows not seen since the global financial crisis...
(AFP (eng) 12/29/16)
French border police intercepted 45 African migrants who were trying to enter the country from Italy and arrested the two smugglers involved, local prosecutors said Wednesday. Travelling in two vans, 25 migrants in the first vehicle were stopped while 20 in the second breached a checkpoint at Montgenevre in southeastern France, before later being found. According to the prosecutor's office, the migrants were returned to the border and the two smugglers are to be tried in Italy.
(Xinhuanet 12/28/16)
Nine people died and 36 others survived in a boat accident on Sunday on Lake Albert in Buliisa district, bordering eastern Democratic Republic of the Congo, Police in western Uganda have confirmed on Monday. John Rutaagira, District Police Commander told Xinhua by telephone that the Sunday accident occurred after a strong wind hit an overloaded boat that was carrying about 45 people. Rutaagira said they had just moved about 100 meters away from the shore. He said none of the occupants on the boat had life jackets and they were all under the influence of alcohol. He said all the occupants were male adults traveling to neighboring Hoima district for a football match. Lake Albert has had a series of...

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