Uganda is set to secure a $150 million loan from China’s Export Import Bank (Exim) to enhance its internet infrastructure, as revealed by the finance ministry on Monday. This move highlights Uganda’s growing dependence on Chinese lenders, following the World Bank’s suspension of new lending earlier this year in response to Uganda’s anti-homosexuality law. During...
In a recent development, Uganda has made a significant decision to opt for Tanzania’s Dar es Salaam port as its primary hub for oil imports, a move that has generated considerable attention and discussion. This decision comes on the heels of a diplomatic disagreement between Uganda and Kenya, resulting in a fallout that prompted Uganda...
In a press conference held yesterday in Uganda, Ugandan President Yoweri Kaguta Museveni expressed that Africa is tired of being last in everything, despite possessing a wealth of resources. President Museveni emphasised that Africa should no longer export raw materials but instead should add value to its products and sell them as manufactured goods. This...
Sumitomo Mitsui Financial Group Inc., a Japanese bank, has stated that it is not providing financing for an oil pipeline project in East Africa, joining the ranks of financial institutions distancing themselves from the controversial venture. During a media briefing on Tuesday, Chief Sustainability Officer Masayuki Takanashi clarified the bank’s position, saying, “We are not...
China is reportedly taking over financing the East African Crude Oil Pipeline (EACOP) project as major lenders withdraw due to pressure from climate activists to abandon the project. The project, which involves the construction of a 1,443 km crude pipeline from western Uganda to the Indian Ocean coast of Tanzania, has faced delays due to...
Fertilizer prices have nearly doubled globally, driven by a confluence of factors, including surging input costs and supply shortages fuelled by the Ukraine-Russia conflict. This has negatively impacted agriculture productivity, with Tanzania’s coffee industry expecting a 4 per cent dip in yields to 1.15 million bags in the marketing year 2022/2023. Additionally, the country’s coffee...
Uganda Investment Authority has awarded TDPC for its remarkable role in ensuring the successful implementation of the crude oil deal (EACOP) between the two East African Community members. According to TPDC Director Dr James Mataragio, Tanzania has contributed over 60% to the deal’s success with Uganda, which he confirmed yesterday at the award-receiving ceremony in...
While the New Constitution debate dominated the debates and speeches of various leaders in the CHADEMA General Assembly, a Ugandan opposition politician who was an official guest at the council said the new constitution alone could not solve the problem. Robert Kyagulanyi, popularly known as Bobi Wine, the National Unity Platform party leader, has said...
