East African Business Notifier

    BY PAUL TENTENA, KAMPALA UGANDA The President of United Republic of Tanzania, Dr. S amia S uluhu H assan has lauded Merck Foundation programs which she said are building healthcare capacity, breaking infertility stigma, and supporting girl education . Suluhu who was inaugurating at the 11th Edition of the Merck Foundation annual conference, in Dar es Salaam Tanzania added that such conferences hel p them to achieve their shared mission — to make a transformation in the health and well-being of their people. “I am delighted to host this prestigious conference in Tanzania. It is a great honor to inaugurate the conference alongside the First Ladies of Africa and Asia. I am certain that this conference will help us to achieve our shared mission — to make a transformation in the health and well-being of our people. I deeply appreciate the programs of Merck Foundation that are building healthcare capacity, breaking infertility stigma, and supporting girl education ,...

Within the past month, California Governor Gavin Newsom has vetoed an   artificial-intelligence safety bill , and the Royal Swedish Academy of Sciences awarded the Nobel Prize in Chemistry to David Baker, a professor at the University of Washington, and to Demis Hassabis and John M. Jumper, employees of Google’s subsidiary DeepMind and its spin-off Isomorphic Labs.  These two events may seem to have little in common, but, taken together, they suggest that outsourcing humanity’s future to profit-maximizing private corporations is something to be celebrated. While the California  bill  was not flawless, it did represent the first substantial effort to hold developers accountable for the potential harms that their AI models might cause. Moreover, it focused not just on any risk but on “ critical harm ,” like developing weapons of mass destruction or causing at least $500 million worth of damage. The tech industry, Google among them, lobbied fiercely against the bill, ma...

It is easy to think of humans as existing separately from nature. But the greatest threats to humanity come from crises affecting nature, not least climate change, biodiversity loss, and rampant pollution. We cannot address any of these until we stop taking nature for granted and start investing more in it. “Nature-positive” investments in marine conservation, sustainable land management, water security, and afforestation could deliver around  30%  of the emissions abatement needed to limit global warming to 1.5° Celsius – the target enshrined in the Paris climate agreement. Moreover, such investments not only improve our resilience to climate change; they also would help to prevent future pandemics. Ahead of the 16th Conference of the Parties (COP16) to the United Nations Convention on Biological Diversity in Cali, Colombia, this month, we must remember that the crises affecting nature also pose structural risks to the global economy, our collective well-being and prosperity,...

  In a landmark  report , the Global Commission on the Economics of Water recently identified water markets as a fundamental solution to the world’s escalating climate-driven water crisis.  The logic is simple: When something is scarce, it becomes more valuable. By pricing water appropriately and creating markets to allocate water based on demand, we could promote more efficient use and incentivize conservation.  Yet while the concept of water markets appears promising, Chile, Australia, the United States, and other countries’ experiences show that implementation can prove challenging. Water markets have been heralded for their ability to allocate water more efficiently. When individuals or organizations are allowed to trade water rights, water is allocated to those who value it most.  In Chile, one of the first countries to implement a national water market, agricultural producers can purchase water from other regions or industries that have a surplus. Owing to...

Juggling a side business and a full-time career can seem like an impossible task. However, many professionals are proving that this ambitious endeavor is not only achievable but also incredibly rewarding.  While a career often involves working for an organization to build skills, climb the corporate ladder, and achieve financial stability, running a business requires taking full control of a venture, making critical decisions, and bearing the weight of its success or failure. I started B&B Collections, an online fashion accessory business, in September 2023 while simultaneously pursuing my career in marketing. Balancing these dual roles has allowed me to apply my professional marketing experience to effectively promote my side business. Effective time management has been crucial in juggling both my business and career. I have found it helpful to set specific hours during the week for business tasks such as processing orders, checking website performance, reviewing inventory lev...

  PostBank Uganda, through her Wendi Mobile Wallet, and the International Fertilizer Development Centre (IFDC) under the BRIGHT (Building Resilience and Inclusive Growth of Highland Farming System for Rural Transformation) project has signed a partnership agreement aimed at improving access to financial services to highland farmers through Village Saving and Loan Associations (VSLAs). According to BRIGHT project baseline survey results conducted in Rwenzori, Kigezi and Elgon regions where the project is being implemented, the main bottlenecks to financial inclusion include the high cost of financial services due to high interest rates that range from 22% to 120% per annum.   VSLAs also have a high interest rate, limited awareness of available financial services and products by smallholder farmers, lack of brick-and-mortar branches for financial institutions in the project area and collateral requirements that hamper VSLAs/farmer groups and women/youth access to finan...

From October 14 to 18, with the theme Accelerate Industrial Digitalization and Intelligence , Huawei, as a Diamond Spons or,  is participated in the GITEX GLOBAL 2024, one of the world's largest tech exhibitions .  During the first day of the exhibition, Huawei hosted the Industrial Digital and Intelligent Transformation Summit and launched joint solutions with partners for ten industries like public utilities, transportation, finance, electric power, oil & gas, mining, retail, education, and healthcare, and a series of new flagship products. These solutions and products are designed to support customers in enhancing their digital and intelligent transformation. Huawei is Innovating Nonstop to Help Customers Succeed, Enable Local Partners, and Cultivate Local Talent Li Peng, Corporate Senior Vice President, President of ICT Sales & Service, Huawei, delivered the opening remarks at the summit where he said they are combining their strengths in networking, storage, compu...

PostBank Uganda driven by its purpose of Fostering Prosperity for Ugandans has completed Ushs 6 billion disbursement of the first tranche of the GROW loan to 353 women entrepreneurs, a project funded by the World Bank and implemented by the Ministry of Gender, Labour and Social Development in partnership with Private Sector Foundation Uganda (PSFU). GROW Loan is a government-backed initiative aimed at fostering entrepreneurship among women by providing affordable loans and business development support, focusing on boosting financial inclusion and promoting economic growth in Uganda. The GROW project aims to support women in transitioning from micro and small to medium sized and large enterprises. PostBank, the only government bank among the banks implementing the GROW project has efficiently disbursed all the funds that it had been allocated to women entrepreneurs across various sectors, including agriculture, trade and commerce, business services, and construction. “We thank the Gover...

Standard Chartered Bank Uganda and Prudential Uganda are pleased to announce a strategic partnership aimed at deepening access to financial services and providing long-term financial security solutions to customers.  This collaboration marks a significant milestone in both organizations’ commitment to enhancing financial inclusion and delivering exceptional value to clients. Through this partnership, Prudential Uganda will become   one of Standard Chartered Uganda’s bancassurance partners, offering the bank’s clients with a range of financial protection solutions. The partnership will also enable both organizations to leverage their global experience and local expertise to address the evolving financial needs of Ugandans. Tetteh Ayitevie, the CEO of Prudential Uganda, stated, “ We are excited to partner with Standard Chartered Bank to deliver holistic financial solutions that empower their clients with enhanced financial security. Together, we are committed to ensuri...