East African Business Notifier

  The Buliisa Farmers Capacity Building Project, initiated by Pure Grow Africa Limited  with significant support from McDermott , celebrates the graduation of   1500  farmers . These farmers underwent transformational training that encompassed areas such as land and seedling preparation, crop production and care, post-harvest processes, value addition, financial literacy, and enterprise development. Highlighting the project's emphasis on inclusivity, a majority of the beneficiaries were women and youth. Despite challenges like limited access to irrigation water and equipment, primarily due to Buliisa's harsh climatic conditions, the program has pioneered a shift in agricultural practices. Moving away from traditional cassava and maize production, farmers have embraced a diverse range of horticultural alternatives. This transition is not only market-relevant but also instigates an inclusive agricultural evolution, opening a world of possibilities for the community. Th...

Uganda Revenue Authority has had a net revenue target of Ush25,151.57 billion i n the F inancial Y ear 2022/23, surpassed and collected Ush 25,209.05 billion. According to John Musinguzi Rujoki, the URA Commissioner General who read the performance report at a Press Conference in Kampala, the remarkable performance represented an 100.23% performance with a surplus of UGX 57.48 billion. “ The year recorded a significant revenue growth of 16.40 per cent (UGX 3,551.04 billion) compared to the previous financial year, thanks to the stable and resilient economic performance, enhanced administrative measures, and the cooperation of patriotic taxpayers ,” said Musinguzi. He said o ver the past five years, there has been a consistent increase in net revenue collections. “ However, in the fiscal year 2019/20, growth was slower due to the impact of COVID-19. “ But the most recent data shows that the economy has performed better than expected, with a 5.3% growth in real terms during FY2...

Ambassador Walusimbi has held a strategic meeting with the Uganda High Commission in Ottawa, as part of his working visit to Canada, where he hailed the strong and growing ties between Uganda and Canada. The Ambassador who was representing the leader of Uganda's delegation to Canada, 3rd Deputy Premier, Rt. Hon. Rukia Nakadama, said the recently concluded 2nd Canada NRM Chapter Symposium was a prime example of the accelerated collaboration between the two countries. He also thanked and commended the Embassy staff for their hard work and commitment and dedication to offer ugandans living and working in Canada world-class services. On her part, Uganda's High Commissioner to Canada, Ambassador Joy Ruth Acheng, highlighted Uganda-Canada areas of cooperation, including in the trade, tourism, investment, education, innovation, space, and climate change, while also recognising robust people-to-people ties and institutional partnerships between the two countries. Furthermore, she...

Prudential Uganda has announced a $30,000 donation to Mulago National Referral Hospital in form of essential medical supplies such as safety boxes for syringes, heavy duty aprons, sterile and examination gloves . The donation, which is part of the Prudential Post COVID Recovery Funds initiative, is a significant step in Prudential's commitment to the health and well-being of Ugandans and supporting vital institutions such as Mulago National Referral Hospital to boost their ability to provide exceptional medical care. Tetteh Ayitevie, the CEO of Prudential Uganda, said COVID had impacted many people and institutions, emphasizing that there was need for collective action in journey to recovery. "As we navigate the post-COVID landscape, Prudential Uganda remains committed to our community's health and well-being. Our partnership with Mulago National Referral Hospital is a testament to our dedication of fostering a stronger and more resilient healthcare system," he...

Turaco, Africa’s leading insurtech company, has br oken the barriers to become the first insurtech in Uganda to acquire an underwriting license. At the official launch and license handover ceremony that was held at Golden Tulip Hotel in Kampala, Turaco Microinsurance Company (“Turaco Microinsurance”) said it aims to be the leading provider of affordable and simple microinsurance products, reaching unserved and underserved Ugandans in line with its global mission of insuring 1 billion people. According to Hamza Mutebi, Turaco Microinsurance Company General Manager and Principal Officer, the launch and acquisition of a license was a very big day for Tu raco as it begun from humble beginnings as an agency to now an underwriting entity . “W e are proud of acquiring our license. It is a major milestone. “ This is huge for us because it now allows us to both design and distribute affordable products that are simple and accessible, expand our reach to even more underserved pe...

Yara East Africa, a global leader in crop nutrition and provider of sustainable agricultural digital solutions, hosted a transformative event at the Maple Leaf Hotel in Masaka district .   The event aimed to empower more than 100 Agro dealers with the essential skills to drive sustainable agricultural practices among farmers in the region. Themed "Digital Transformation in Agri: Reaping the Benefits of Impactful Innovation in Agriculture," the event spotlighted the profound influence of digital solutions in agriculture. Yara's emphasis on leveraging technology to enhance farmer productivity and create opportunities for businesses aligns with the company's commitment to knowledge dissemination, quality inputs, and traceability at the last mile of the agricultural value chain. William Nge'no, the Country Manager for Yara Kenya & Uganda, reiterated Yara's unwavering dedication to promoting sustainable agricultural practices through a comprehensive...

It is women’s month and we are delighted to be hosting an important group of leading emerging markets and developing countries, namely Brazil, Russia, India, China and South Africa for the 15 th edition of the BRICS Summit. Together BRICS has around 42% of the world's population, 27% of global GDP and around 20% of international trade. It is our third time hosting this important event as a country and South Africa is privileged to be the chair of BRICS this year. Our theme is "BRICS and Africa: Partnership for Mutually Accelerated Growth, Sustainable Development, and Inclusive Multilateralism." This theme reflects our vision of BRICS providing global leadership in addressing the needs and concerns of the majority of the world, namely beneficial economic growth, sustainable development and inclusion of the global South in multilateral systems. This theme also reflects our belief in the benefits a partnership with Africa can bring to BRICS, with our partners eager ...

  BY PAUL TENTENA Uganda local insurers under their umbrella body Uganda Insurers Association (UIA) have asked the government to amend some of the oil laws to compel oil companies to take on local insurance. According to Jonan Kisaakye the Chief Executive Officer of Uganda Insurers Association, because the existing laws don’t compel oil companies to take up local insurance, local marine cover and premiums are lost to foreign markets as a result. Kisaakye who was speaking at Kampala Sheraton Hotel during a Press Conference that was organized by the Uganda Chamber of Mines and Petroleum (UCMP) said they have so far issued three policies worth $23.8 million for the Tilenga Oil Graben. “We have so far been able to issue three policies for the Tilenga project amounting to about $15.2 million which is about $2.7 million per loan. “For CNOOC, we are in the range of $5.9 million in written premiums,” said Kisaakye. He said 19 locally licensed insurance companies formed a consor...

  Airtel Uganda’s First 5G Network has demonstrated 5G’s potential to foster digital inclusion and connectivity in Uganda.  Airtel Uganda proudly unveiled one of its industry firsts, the 5G network, ushering in a new era of connectivity and innovation for the country.  The Telecom giant indicated in February 2023, it was 5G ready and had applied for the required spectrum to start rolling out the revolutionary technology. 11 sites were tested in Kampala in ahead of the official launch. 5G is the 5th generation mobile network that enables a new kind of network that is designed to connect virtually everyone and everything together including machines, objects, and devices at very high speeds.   It delivers higher multi-Gbps peak data speeds, more reliability, massive network capacity, increased availability, and a more uniform user experience to more users. 5G can support up to 1 million connected devices per square kilometre compared to 4G which can only support up to 1...

With a growing chorus of voices calling for the African Union’s admission to the G20, that outcome looks increasingly likely.  Many of the group’s most prominent members, including the United States, China, Japan, Germany, and France, have endorsed full membership for the AU, which Indian Prime Minister Narendra Modi   has proposed   granting at the upcoming G20 summit in New Delhi. Senegalese President  Macky Sall , a champion of the cause during his recent tenure chairing the AU,  has rightly pointed out  that the move is long overdue, given the continent’s economic and demographic weight.  With full membership, African leaders can help devise a fairer and more inclusive global financial system and multilateral solutions to pressing challenges such as climate change and pandemics – to the benefit of all. Advocacy efforts are still required to secure the seat, but it is not too soon for the AU to prepare a strategy to reap the potential benefits of jo...