Category: East Africa
-
Cement production hits 6.3m tonnes on rising demand
Cement production last year crossed the six million tonne mark for the first time as manufacturers upped capacity to capture demand from a construction boom driven by infrastructure projects and real estate. Data from the Kenya National Bureau of Statistics shows that cement manufacturers produced 6.3 million tonnes, up from 5.8 million tonnes produced in…
-
Barclays exit of Africa to do with regulations – Bob Diamond
Barclays’ re-evaluation of its African strategy, and possible scaling back of its operations, has more to do with regulation in the UK than it has to do with its vision for Africa, according to Bob Diamond, former Barclays boss and co-founder of Atlas Mara. “Barclays is in a difficult position. This has absolutely nothing to…
-
Kenya’s diaspora remittance sees an 8.4 percent surge
East Africa’s economic giant, Kenya, has seen an 8.4 per cent surge in diaspora remittances. Diaspora remittances to Kenya rose to 1.54 billion US dollars in 2015 up from 1.43 billion US dollars in 2014. North America accounted for 49.6 per cent of total inflows in December 2015 and recording growth of 10.1 per cent.…
-
Uganda Shilling gains slightly, seen easing due to importer demand
Uganda’s shilling gained slight ground on Monday and traders said it was seen easing in coming days due to an expectation of increased importer dollar demand after last week’s presidential election. At 0803 GMT, commercial banks quoted the shilling at 3,435/3,445 to the dollar, compared with Friday’s close of 3,443/3,453. “If there is to be…