Category: East Africa

The Uganda government is yet to start oil production, but it is already earning money that can be termed as oil related revenue. Over the last two weeks, the discussion in the country has been concentrated around the Shs6b that was paid to 45 public officials for ensuring that Uganda ripped benefits from two transactions.…

President John Magufuli has directed responsible authorities to revoke licences issued to investors for a meat factory and mining in Shinyanga Region. He also revealed his government’s intention to modify the Tanzania Social Action Fund (TASAF) system of issuing money to poor families following the discovery of 55,000 ghost households that were receiving cash transfers…

President John Magufuli has come out strongly in condemnation of unscrupulous businessmen, politicians and the media for creating artificial food shortage. He has also ordered immediate review of the costs estimated for the construction of Simiyu Regional Hospital down from the whopping 46bn/- to around 10bn/-. Addressing a public rally in Simiyu yesterday where he…

Uganda’s expenditure on infrastructure projects using debt has not yet reached levels where the country is at risk of defaulting. In its seventh review of the Ugandan economy under the Policy Support Instrument (PSI) released on Wednesday, the International Monetary Fund (IMF) reveals that much as Uganda is not at risk of defaulting, is considered…

Kenya is raising at least $1.05 billion through syndicated loans, including $250 million already secured from lenders led by PTA Bank, as East Africa’s biggest economy seeks to plug a widening budget deficit. PTA, an East African trade-finance bank based in Burundi, has already disbursed $100 million, while a further $150 million will be received…

Uganda, Tanzania and French oil company Total E&P, the lead joint venture partner on the proposed crude oil export pipeline are considering getting on board a transactionary adviser to advise them on getting a lead investor and the $3.55b (Shs12.6 trillion) required for financing the project. A concept brief for the project issued by the…

Tirsit Mezemer, the executive chef at Kaleb Hotel, and her associates are running here and there in the spacious kitchen of the four star hotel. “If you have the passion, being a chef is a great profession,” she proudly states. “The executive chef is not only a chief who commands his or her subordinates sitting…

The International Monetary Fund (IMF) says some government policies and the uncertainty of its actions could dent Tanzania’s record of a stable economic growth achieved in recent years. According to the IMF, President John Magufuli’s approach to the management of the economy faces four key challenges with a risk of undermining the country’s macroeconomic stability.…