East African Business Notifier

Adriana Abdenur BELÉM – Calls to reduce the use of fossil fuels are becoming impossible to ignore. At the United Nations Climate Change Conference in Brazil (COP30), major producers are being pressed to begin planning for the phasing down of oil, gas, and coal in a just and orderly way. For decades, climate negotiations have focused on emissions targets and clean-energy pledges while sidestepping the politically explosive question of whether – and how quickly – countries should phase out fossil-fuel production. COP28 broke new ground by introducing the phrase “transition away from fossil fuels,” but real progress has remained slow and uneven. At COP30, Brazilian President  Luiz Inácio Lula da Silva  has reset the tone,  declaring  that “the Earth can no longer sustain the intensive use of fossil fuels” and calling for a clear roadmap for phasing them out. Resistance to a phaseout has historically come from major producer countries and energy companies. But ...

  As Africa records the fastest tourism growth globally, the UAE is set to inject $6 billion into the continent’s travel and hospitality sector - a move expected to create 70 000 new jobs.   The announcement was made at the recent  UAE Africa Tourism Investment Summit 2025  in Dubai, held under the patronage of  His Highness Sheikh Mohammed bin Rashid Al Maktoum , Vice President and Prime Minister of the UAE and Ruler of Dubai. Organised by the  UAE Ministry of Economy and Tourism  in partnership with  The Bench  as part of  Future Hospitality Summit (FHS) World 2025 , the event brought together senior government officials, investors, and industry leaders to chart investment priorities and explore opportunities across tourism, infrastructure, aviation, and digital innovation. On the sidelines, a  ministerial roundtable  led by  H.E. Abdulla bin Touq Al Marri , UAE Minister of Economy and Tourism, gathered ministers from ov...

  The critical climate negotiations at COP30 in Belém, Brazil, underscored the urgent need to translate global ambition into tangible investment and action. This imperative resonates directly with the upcoming fourth edition of the Africa’s Green Economy Summit (AGES), scheduled for 24–27 February 2026 at the Century City Conference Centre in Cape Town.   Africa’s transition to a climate-resilient, low-carbon future will take centre stage at the event—powered by lead partner Sanlam Investments. This year’s edition underscores a shared commitment to accelerating investment into Africa’s green and blue economies at a defining moment for global climate action. Organised by the VUKA Group under the theme “From Ambition to Action: Scaling Investment in Africa’s Green and Blue Solutions,” AGES 2026 will bring together institutional investors, development finance institutions, innovators, governments and sustainability leaders intent on unlocking climate-aligned capital for the conti...

  The Bank of Uganda (BoU) has issued an operating license to Pearl Bank Uganda Limited, which formerly operated as PostBank Uganda, paving the way for the institution to commence business under its new name and identity. The license was handed to the Bank's Managing Director, Mr. Julius Kakeeto, by the Bank of Uganda Governor, Dr. Michael Atingi-Ego, a symbolic phase in the Bank's rebrand journey, signifying its official crossover from PostBank to its current designation, Pearl Bank Uganda Limited. The regulatory approval to rebrand to Pearl Bank follows the Bank’s five-year transformation strategy and its earlier elevation to a Tier 1 Commercial Banking License in December 2021. Speaking about the Pearl Bank operational license, Bank of Uganda Governor, Dr. Atingi-Ego, congratulated the bank on rebranding to Pearl Bank and commended the bank for its innovativeness, remarking, “the bank has done great things in supporting financial inclusion especially through its Wendi mobile...

Mahmoud Mohieldin CAIRO – For decades, the international community has operated under the illusion that climate action and development are different pursuits, each with its own goals, institutions, and funding mechanisms. This approach has hindered progress on both agendas. The world leaders gathered in Belém, Brazil, for the United Nations Climate Change Conference (COP30) must recognize this and begin transforming the fragmented, underperforming climate-finance system into an integrated framework that delivers on both climate and development objectives. As they embark on this process, it is worth considering the main takeaways from  Policy-Driven Climate and Development Finance: Strategies for Equitable Solutions , the forthcoming volume of essays that I edited. While making the global financial architecture more equitable and efficient is a long-term project, delegates at COP30 can take important steps forward. First, they must deliver a replicable and scalable model for climate...

Hailemariam Desalegn Boshe ADDIS ABABA – At the Second Africa Climate Summit (ACS2), which took place in Addis Ababa a couple months ago, I  delivered  a warning that every G20 government should heed: Africa cannot finance its future while drowning in debt. The numbers speak for themselves: Sub-Saharan Africa requires  $143 billion  in annual climate finance, equivalent to roughly 7% of its  total GDP . But current  climate-finance flows  into the region amount to only one-quarter of that. At the same time, African countries spent  nearly $90 billion  in 2024 servicing external debt. Africa’s debt crisis is not a fringe issue; it is one of the biggest obstacles to achieving global climate goals and advancing the continent’s development. Every dollar that African countries spend on interest payments is a dollar that could have been invested in climate resilience and sustainable development, including adaptation measures and clean-energy infras...

KCB Bank Uganda Limited today announced a major achievement, securing the highly sought-after ISO/IEC 27001:2022 certification.  This globally recognised standard for Information Security Management Systems (ISMS) places KCB Bank Uganda at the forefront of financial institutions dedicated to safeguarding customer data and ensuring top-tier operational resilience. The rigorous certification process, which involved a thorough independent audit by CERTITRUST, confirmed the bank's adherence to international best practices in managing sensitive information.  This success was powered by a strategic partnership with SENTINEL AFRICA, whose expertise spearheaded the ISMS implementation and provided advanced training to the KCB team as certified Lead Implementers and Lead Auditors. Speaking at the certification handover ceremony at the KCB Bank Uganda Headquarters, Edgar Byamah, Managing Director of KCB Bank Uganda, emphasised the significance of the award. "This ISO/IEC 27001:2022 cert...

The International Ski and Snowboard Federation (FIS) and the World Meteorological Organization (WMO) cemented their partnership on 30 October, with a scientific field meeting on Switzerland’s Jungfraujoch to raise awareness about melting snow and ice. Held atop the Great Aletsch Glacier, one of the most iconic glaciers on the planet and a UNESCO World Heritage Site, the event brought together glaciologists, winter sport professionals and climate scientists to discuss the accelerating impacts of climate change and, particularly, of glacier loss. “The ripple effect of climate change on every aspect of society is truly terrifying. It turns out that the realm of snow sports — not only at a competitive level, but for all the communities that revolve around ski resorts — is among the first to experience this devastating impact directly,” said FIS CEO Urs Lehmann. “FIS truly believes that skiing and snowboarding can play a significant role not only in raising awareness, but also in taking act...

  By Rolake Akinkugbe-Filani - CEO, EnergyInc Advisors ( www.EnergyIncAdvisors.com ) /Global Energy Finance and Strategy Leader  With COP30 underway in Belém, Brazil, the global community is once again confronted with the urgency of climate action. For Africa however, the conversation must begin with a more fundamental question:  how do we power the continent so that climate ambition does not outpace development reality? While advanced economies frame climate progress around how quickly they can retire fossil fuels, Africa’s challenge is more foundational. Millions still lack reliable electricity. Without power, factories cannot operate, digital economies cannot thrive, and essential services - from hospitals to schools - remain constrained. Energy access is not merely a development aspiration. It is the bedrock upon which climate adaptation, resilience, and long-term economic transformation rest. A transition that must be sequenced, not rushed Africa’s clean energy poten...

Juan Manuel Santos BOGOTÁ – On my first day in office as Colombia’s president just over 15 years ago, I met with the leaders of four indigenous peoples in the Sierra Nevada de Santa Marta – the Kogui, Arhuaco, Wiwa, and Kankuamo.  As we stood together in the shadow of a magnificent mountain range next to the Caribbean Sea, the wisdom they imparted transformed how I viewed my responsibilities as a leader. It also changed how I saw our collective duty as transitory inhabitants of this increasingly bruised planet. I was given a wooden baton – a symbol of power – to remind me to strive toward two goals: peace among our citizens after 50 years of conflict, and peace with nature.  he indigenous leaders warned me that our relationship with the natural world had been harmed, that nature was angry, and that we would suffer the consequences. Two weeks later, La Niña hit Colombia with devastating floods, and I spent the first two years of my administration supporting those affected and p...

The Stanbic Business Incubator Limited (SBIL) has signed a new grant agreement with the Embassy of France in Uganda to finance the Green Tech Incubator and Accelerator for Entrepreneurship Program. The program, which targets the youth and women in the Kampala Metropolitan Area and the Albertine Region, aims to promote the development of a green, resilient and highly innovative economy. The French Ambassador, Mrs. Virginie Leroy and Catherine Poran, the SBIL Chief Executive signed the agreement at the Embassy in Kampala on Tuesday. In her remarks, Ambassador Leroy said, “The project will support more than 200 Ugandan youth and women Small and Micro-Enterprises in sectors like sustainable cities, green mobility, circular economy, waste management, renewable energies, water and health, and smart agro/agri technologies, by strengthening their capacities, facilitating their access to finance and markets and creating an environment that fosters their growth.” The Stanbic Green Tech Accelerat...