Uganda | - Part 4

FinTech Impact: Delivering Constructive Outcomes for Africa

Mobile money, payments innovation and the impact of blockchain are radically transforming the financial services landscape. This transformation is having a powerful impact across Africa where the acceleration of mobile phone penetration has already revolutionized the reach and eﬀectiveness of ﬁnancial services on the continent. Established banking and mobile phone companies, together with new challenges and FinTech disruptors, have tapped into this revolution to further boost FinTech in Africa as one of the most dynamic,…

Uganda Growth Seen Accelerating to 5.5% on Oil-Industry Spending

Posted on by The Editorial Team

KAMPALA (Capital Markets in Africa) – Growth in Uganda may accelerate to 5.5 percent next fiscal year, helped by increased spending on the oil industry, the Finance Ministry said. The growth rate may increase from a projected 5 percent in the current fiscal year and may reach 6 percent in 2018-19, the ministry said in the National Budget Framework Paper e-mailed to reporters on Monday in the capital, Kampala, by the Civil Society Budget Advocacy Group. Amos…

Ugandan Leader Seen Preparing Successor as Son Named Adviser

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KAMPALA (Capital Markets in Africa) – Ugandan President Yoweri Museveni’s appointment of his son as a senior adviser may be a move to stem dissent in the governing party and prepare a successor to his 30-year rule. Museveni, who secured a fifth term in a 2016 vote, named Muhoozi Kainerugaba, the 42-year-old head of an elite military group, as his adviser for special operations. The chief of Uganda’s defense forces was also replaced, army spokesman Paddy Ankunda…

Uganda gets $151 mln loan from African Development Bank for toll road

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KAMPALA (Capital Markets in Africa) – Uganda will expand a major road linking its capital Kampala with Rwanda after signing a deal on Thursday for a $151 million loan from the African Development Bank (AfDB). The 40-year loan will partly finance a new 23 km, 4-lane toll road to help de-congest traffic on an existing road, the finance ministry and AfDB said, adding the government would fund the remainder of the $192 million project. In recent…

SimbaPay launches mobile money transfer service to Ghana and Uganda

Posted on by The Editorial Team

LONDON, United Kingdom, December 5, 2016/ — SimbaPay (www.SimbaPay.com) – a London based digital money transfer provider – today announced the launch of its money transfer service to Ghana and Uganda. Using the SimbaPay app or website, Ghanaians and Ugandans living in Europe can now send money to mobile phones in Ghana or Uganda instantly. “This is the perfect Christmas gift to Ghanaians and Ugandans living in Europe who have been asking when SimbaPay will…

High Interest Rates: How do they impact Small Businesses in East Africa?

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – Small & Medium Businesses in East Africa should be looking at ways to maximise their efficiency and improve debt management to navigate the risks that high interest rates pose for their businesses. That’s the word from Billy Owino, Regional Director for Sage East Africa (www.Sage.com), the market leader for integrated accounting, payroll, and payment systems. He says that business builders feel the pressure of rising interest rates more severely than…

EAIF and Dutch development bank FMO in US$14.7 million loan

Posted on by The Editorial Team

KAMPALA (Capital Markets in Africa) – The Emerging Africa Infrastructure Fund (EAIF) has participated in a syndicate led by the Dutch development bank, FMO, to provide a US$14.7 million loan to enable the construction of a 10MW solar farm in the Tororo area of Eastern Uganda. EAIF has provided 50% of the loan. The Tororo Solar North PV project will serve an area heavily dependent on subsistence farming and with high unemployment. The development includes…

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