Uganda News Archives - AfricaBusiness.com

UDB Focuses on Sustainability and Innovation to Drive Uganda’s socio-economic development

23Jul

By Africa BusinessNo Comments

Business, Uganda News

UDB Focuses on Sustainability and Innovation to Drive Uganda’s socio-economic development

Uganda Development Bank Ltd (UDB), the country's national Development Finance Institution and the Best Bank in East Africa 2024, has today announced its 2023 annual performance, highlighting its continued pivotal role in fostering economic resilience and sustainable growth across key sectors of the economy. UDB's net loans expanded to UGX1.47 Trillion in 2023, reflecting robust support to the private sector. The Bank strengthened its commitment to providing affordable and patient capital, achieving significant milestones amidst economic challenges. The results, released during the Annual General Meeting held at the Ministry of Finance, Planning, and Economic Development, reflect a sustained effort to facilitate economic recovery. The meeting was attended by the Bank's shareholders, the ...

d.light closes new USD$176 million securitization facility for affordable off-grid solar in Kenya, Tanzania and Uganda

17Jul

By Africa BusinessNo Comments

Energy, Kenya News, Tanzania News, Uganda News

d.light closes new USD$176 million securitization facility for affordable off-grid solar in Kenya, Tanzania and Uganda

Off-grid solar provider d.light and impact investor African Frontier Capital partner on new financing to support consumer loans for solar and high efficiency appliances in East Africa d.light, the global provider of transformational household products and affordable finance for low-income households, today announced the closing of a new securitization facility that will purchase USD$176 million of receivables in Kenya, Tanzania and Uganda. The new financing is being provided by social impact-focused asset management company African Frontier Capital. d.light will use the facility to scale up its PayGo consumer finance offering to make solar-powered products available to more low-income households and communities without access to electricity. The facility is multi-currency and will enabl...

27Jun

By Africa BusinessNo Comments

African News, Burundi News, Tanzania News, Uganda News

Atlas Network Names Three Finalists for 2024 Africa Liberty Award

From Burundi to Tanzania and Uganda, Africa’s freedom champions are improving the lives of millions of people Arlington, VA — Today, Atlas Network—the nonprofit organization that partners with nearly 600 independent think tanks in over 100 countries worldwide—announced its finalists for the 2024 Africa Liberty Award, which honors the region’s most outstanding freedom champion. The three finalists for this year’s award are Burundi’s Centre For Development and Enterprises Great Lakes (represented by chief executive Manirakiza Aimable); Tanzania’s Liberty Sparks (represented by CEO Evans Exaud); and Uganda’s Ethical African Organization (represented by director Lutakome Imran Kigongo), with all three organizations making innovative contributions to economic freedom and human progress. Atlas...

9Jun

By Africa BusinessNo Comments

Uganda News

How community-led conservation is boosting the local economy in Ugandan villages

by Leo Gripari, CEO, That Gorilla Brand Water is the world’s most precious commodity. Its abundance has the power to create and renew existence; its scarcity has the ability to destroy and extinguish. With just over 1% of all water on Earth safe for human consumption, and the UN’s recent climate report warning of an imminent water crisis that is likely to ‘spiral’ out of control, immediate action is needed to prevent further loss of life. The global story of water scarcity is not an untold one. Governments, NGOs and individuals are acutely aware of the impact that limited access to clean and safe water has on survival. However, a story that is less told, is the socioeconomic impact of communities with just enough water to survive. The story of school children having water as their only...

Evaluating the Continued Need for Liquidity Instruments for IPPs as ATI Closes Phase 1 of its Regional Liquidity Support Facility (RLSF)

23Jan

By Africa BusinessNo Comments

Energy, Uganda News, Zambia News

Evaluating the Continued Need for Liquidity Instruments for IPPs as ATI Closes Phase 1 of its Regional Liquidity Support Facility (RLSF)

By Obbie Banda - Underwriter | Acting RLSF Coordinator, African Trade Insurance Agency (ATI) The African Trade Insurance Agency (ATI) issued the fifth policy under its Regional Liquidity Support Facility (RLSF) in support of the 7.8 MW Nyamwamba II Run-of-the-River hydropower plant in Uganda on 19 May 2022; closing Phase 1 of RLSF, a liquidity instrument jointly founded by ATI and the KfW Development Bank with grant funding from the German Federal Ministry of Economic Cooperation and Development (BMZ). Under Phase 1, the five RLSF policies have been issued for the benefit of renewable energy projects in Burundi, Malawi and Uganda, enabling a total installed capacity of 116.3 MW and USD 172.5 million in total project financing. The projects supported in Burundi and Malawi with RLSF cover ...

30Oct

By Baker McKenzieNo Comments

Egypt News, Energy, Ghana News, Kenya News, Morocco News, Namibia News, Nigeria News, South Africa News, Tanzania News, Uganda News

Africa: Energy transition policies and regulatory developments light up across the continent

Across the continent, countries in Africa are gearing up for the energy transition by implementing policy and legislative frameworks that take into account the energy crisis and the need for a renewable, decarbonized, decentralized energy supply that addresses climate change and the commitments made under the Paris Agreement. Ahead of the United Nations Climate Change Conference, COP 27, in Egypt in November this year, lawyers in Egypt, Ghana, Kenya, Morocco, Namibia, Nigeria, South Africa, Tanzania and Uganda have outlined the efforts taken by the governments in their countries to address this urgent need to harness renewable power. Such efforts are expected to provide exciting opportunities for investors in the African energy sector. Egypt Lamyaa Gadelhak, Baker McKenzie Cairo Partner ...

Data security and privacy laws develop across Africa

3May

By Africa BusinessNo Comments

Ghana News, Kenya News, Madagascar News, Main, Mauritius News, Nigeria News, Rwanda News, South Africa News, Togo News, Uganda News, Zimbabwe News

Data security and privacy laws develop across Africa

Numerous countries in Africa have developed or implemented data privacy and security laws in their countries in the last few years. With the rapid rise in digitisation as a result of the pandemic, the broad implementation of such laws across the continent has never been more urgent. Countries including Ghana, Kenya, Madagascar, Mauritius, Nigeria, Rwanda, South Africa, Togo, Uganda and Zimbabwe have been implementing new measures to protect and secure the personal information of their citizens. In Ghana, data protection is regulated under the Data Protection Act, 2012 (DPA) together with Article 18(2) of the 1992 Constitution, which provides citizens with a fundamental right to privacy. Enid Baaba Dadzie, Senior Associate at Kimathi & Partners in Ghana, says that because data protect...

Uganda-based fintech offering onboarding-as-a-service receives scale-up funding

25Apr

By Africa BusinessNo Comments

Fintech, Uganda News

Uganda-based fintech offering onboarding-as-a-service receives scale-up funding

Laboremus Uganda, the B2B fintech that enables onboarding at scale, has received a funding boost from DOB Equity and FCA Investments to grow the company’s fintech platform in Uganda and neighboring markets. Laboremus’ platform helps banks and fintechs verify their customers’ identities and onboard them as customers. This alleviates one of the key bottlenecks in providing access to credit for consumers in Sub-Saharan Africa. Laboremus’ SaaS solution combines Know Your Customer data, Anti Money Laundering checks and customer interaction for onboarding. This allows the industry to serve the unbanked population more cost-effectively, even in the most rural parts of the region. Current clients include Standard Chartered, a.o. Equity Bank, dfcu Bank and the pan-African fintech Wave. The inve...

30Dec

By Giorgi MikhelidzeNo Comments

Uganda News

Forex trading and the financial sector in Uganda

Uganda is a country situated in East-Central Africa with a potential of 42 million forex traders characterized by high diversity in terms of ethnicity and politics. As you may already know, its financial system consists of informal, formal, and semi formal institutions. Insurance companies, banks, and capital markets are examples of formal institutions, while loan associations and village savings stand for informal institutions, obviously. Nowadays 62% of the population of Uganda still doesn’t have access to financial services and only 33% of individuals in this country hold accounts in banks. Nonetheless, this region suffers both legal restrictions and low capitalization, yet it still has a well-developed microfinance industry. Moreover, the rural and micro-enterprise sectors account f...

12Dec

By Africa BusinessNo Comments

Energy, Sierra Leone, Uganda News

WINCH ENERGY OPENS CROWDFUNDING FOR OFF-GRID RENEWABLES

Leading off-grid renewable energy provider, Winch Energy, has opened its crowdfunding campaign to fund solar off grid developments that will connect more people in Sierra Leone and Uganda to clean and reliable power. This campaign enables individuals to invest in Africa’s growing clean energy market via Crowdcube from as little as £10. Winch Energy’s work strives to help the UN meet its Sustainable Development Goals (SDG), specifically SDG 7, which ensures universal access to affordable, reliable and modern energy services by 2030. With less than a decade left, Winch Energy is targeting countries in sub-Sahara Africa, which has the largest proportion of people without access to energy, to make the biggest impact. Moving green energy forward in developing countries The COP26 summit in O...