Thursday, November 21African Digital Business Magazine

Tag: Uganda

UDB Focuses on Sustainability and Innovation to Drive Uganda’s socio-economic development
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 ...
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)
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 ...
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...
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...
Agriculture, Startups, Uganda News

Creating a borderless agribusiness space in Uganda and across East Africa

Startup testimony Charles Bwanika, a new generation social entrepreneur Charles Bwanika is a new generation social entrepreneur, passionate about undertaking positive challenges to bring about positive impact people’s lives he’s a seasoned child rights activist, experienced and qualified Community development expert with aBA in Development   Studies (BDS) and a Diploma in Community Psychology from Ndejje University and Kyambogo University in Uganda respectively.  He also has numerous post graduate professional trainings in different fields including Research Methodologies, Child Protection, Civil Leadership, Project Planning and Management, Business and Entrepreneurship among others. Charles is the Founder & CEO of an agritech social enterprise - Farm Kiosk which is on a mission of ...
ONOMO Hotels Group opens its first hotel in Kampala, Uganda consolidating its investment in East Africa
travel, Uganda News

ONOMO Hotels Group opens its first hotel in Kampala, Uganda consolidating its investment in East Africa

This new hotel marks a milestone in the group’s growth in East-Africa, and brings its footprint to 22 hotels in 13 countries in Africa ONOMO Hotels Group continues its development in East Africa and opens its first hotel in Uganda. In line with the group’s strategy of opening hotels in the heart of iconic African cities, ONOMO Hotel Kampala is located in Kampala, economic beating heart of Uganda, on Nakasero Hill, the hotspot and preferred meeting place for entrepreneurs, businesspeople and shopping enthusiasts. “We are excited to welcome guests to ONOMO Hotel Kampala as an ideal destination for friends, families, couples and business travelers from all corners of the world looking to experience the vibrant and warm Ugandan hospitality, it’s rich culture and local artists, where every ...
African News, Energy, Uganda News

EXPO 2020 DUBAI: FIRST BIG INVESTMENT DEAL ANNOUNCED BY UGANDA

Participant country starts Expo 2020 Dubai investment rush by signing deals worth USD 650m in the first big investment announcement of Expo Investments are across sectors including healthcare, energy and transportation Ugandan Minister of Finance, Planning and Economic Development Hon. Matia Kasaija signs a series of investment deals that will generate jobs and economic growth in Uganda in the first major public investment deal of Expo 2020 Dubai. The Republic of Uganda became the first participant country at Expo 2020 to publicly announce a raft of new investment as the deals were signed by the country during a special ceremony held at the Expo 2020 Dubai today. The deals come the day after Uganda celebrated its National Day at the six-month-long event that started 1st October. The ...
Ethiopia News, Tanzania News, Uganda News

DW Akademie Film Development Fund – Tanzania and Uganda – Applications Open

Promoting film production in the Global South From September 14, 2021, filmmakers from Tanzania and Uganda are invited to apply for film development funding and training offered by DW Akademie. The German media development organization DW Akademie is looking for filmmakers from Uganda and Tanzania who have already made one or more films and would like support in developing their next project. Up to five successful candidates from each country will be selected by separate juries in January 2022 and receive a maximum of 10,000 euros and one year of mentorship to help develop their film ideas. The program will include workshops and skills development by industry professionals mainly from the Global South. These tailor-made trainings will enable the successful candidates to take their projec...
Energy, Events, Uganda News

Driving the Final Steps in Commercialisation and Production

Government and industry leaders to gather this month for the return of the Uganda International Oil & Gas Summit  Marking its 6th edition, the Uganda International Oil & Gas Summit (UIOGS) will return from 28-29 September hosted in partnership with the Ministry of Energy and Mineral Development, Uganda in a virtual format, via the energy advance platform. Hon. Ruth Nankabirwa, Minister of Energy and Mineral Development (Energy), will deliver the opening address to delegates, followed by an overview of the latest updates on the Hoima – Tanga Pipeline Project from Eng. Irene Pauline Batebe Okello, Energy Ministry – Permanent Secretary, Dr. Ernest Rubondo, Executive Director and Secretary to the Board, Petroleum Authority of Uganda and Ms. Proscovia Nabbanja, CEO, Uganda National Oi...