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Uganda Alleges Foreign Meddling Amid Call for Cut in U.S. Aid

KAMPALA (Capital Markets in Africa) – Ugandan President Yoweri Museveni took aim at alleged foreign interference in his country’s politics and railed against the media in his first official address since sporadic protests over the arrest of a pop star-turned-opposition lawmaker. Museveni, who’s ruled since 1986, accused unidentified foreign governments of funding non-governmental organizations that assist the East African nation’s opposition. In his state of the nation address late Sunday, he also declared the need for “discipline…

Brawls, Autocratic Moves Threaten East African Democracy

Posted on by The Editorial Team

KAMPALA (Capital Markets in Africa) – Ugandan lawmakers brawl over a bill that could create a president-for-life. Tanzania arrests lawmakers and shutters newspapers. And as Kenya tries to rerun a botched election, a ruling party leader says what the country really needs is a benevolent dictator. As unrest and crackdowns plague some of the region’s largest economies, home to various levels of political freedom, the situation is adding to uncertainty in a part of the world already rocked by…

Uganda Bans Some Live Broadcasts as President-Age Debate Likely

Posted on by The Editorial Team

KAMPALA (Capital Markets in Africa) – Ugandan authorities told broadcasters to stop airing some live coverage as the East African nation nears a parliamentary debate on a constitutional amendment that would let President Yoweri Museveni attempt to extend his three-decade rule. The Uganda Communications Commission directed all broadcasters to refrain from airing “live feeds which are in breach of the minimum broadcasting standards,” according to a statement published on Twitter by NBS Television, a local channel. The…

Uganda Fires Teargas as Protests Build Against `Life Presidency’

Posted on by The Editorial Team

KAMPALA (Capital Markets in Africa) – Ugandan police fired teargas and arrested students protesting at the capital’s main university, local media reported, as the ruling party prepares to propose a constitutional amendment that would allow President Yoweri Museveni to seek to extend his three-decade rule. The police and army fought running battles with students at Kampala’s Makerere University on Thursday, the Observer newspaper said on its website. It also reported that police arrested the capital’s lord…

Standard Bank Seeks to Raise $3 Billion for Ugandan Oil Pipeline

Posted on by The Editorial Team

KAMPALA (Capital Markets in Africa) – Standard Bank Group Ltd.’s Ugandan unit plans to raise $3 billion for a crude pipeline by the second half of next year as the East African country prepares to start oil production by 2020. Stanbic Bank Uganda was appointed alongside Japan’s Sumitomo Mitsui Banking Corp. as joint financial adviser for the 1,445-kilometer (898-mile) pipeline, Patrick Mweheire, the chief executive officer of the Kampala, Uganda-based business, said in an interview on…

Thomson Reuters Offers Financial Professionals Market Data & Analysis For Current And Upcoming Africa Elections

Posted on by The Editorial Team

Decision Africa App provides key economic data for Kenya, Angola, Liberia, and Mali Johannesburg, 10 August 2017 – Thomson Reuters has launched a dedicated Decision Africa app on its flagship desktop product Eikon. The app provides financial professionals with comprehensive market and data leading up to and after the elections in Kenya (8th August), Angola (23rd August), Liberia (10th October), and Mali (29th October). The app features a chart book page of all four countries…

Moody’s affirms EADBs Baa3 long-term issuer rating; outlook stable

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – Moody’s Investors Service has today affirmed the East African Development Bank’s (EADB or the bank) Baa3 long-term issuer rating and maintained the stable outlook. EADB is a regional multilateral bank that serves the East African Community (EAC) with the aim of promoting sustainable socio-economic development as well as the regional integration of its shareholder member states: Uganda (B2 stable), Kenya (B1 stable), Tanzania (unrated) and Rwanda (B2 stable). It…

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