East African Business Notifier

H.E.  President Denis Sassou Nguesso of the Republic of Congo conferred one of the country’s most prestigious national honours, the Officer of the Congolese Order of Merit, on Prof. Benedict Okey Oramah, President & Chairman of the Board of the African Export-Import Bank (Afreximbank), and Dr. George Elombi, the Executive Vice President, Governance, Legal and Corporate Services. C onferring the honours in his capacity as Grand Master of the National Orders at the decoration ceremony, President Nguesso told the audience that President Oramah and Dr. Elombi were being honoured for services rendered to the Congolese nation.   The ceremony featured the reading of the decree of appointment by President Nguesso followed by the official presentation of the decoration medals to Prof. Oramah and Dr. Elombi.   Witnessing the ceremony were Mr. Bruno Jean Richard Itoua, the Congolese Minister for Oil & Gas, and Mr. Ludovic Ngasé, Minister for Budget, Public Accounts and Publi...

Vice President of Uganda launches the 2023 – 2024 Huawei ICT Competitions in Uganda and also awarded the outstanding Ugandans that took 2 nd  position globally at the Huawei ICT Competitions 2022-2023. With a series of talent development campaigns, including the ICT competition, Huawei hopes to skill up more than 700,000 ICT professionals by end 2023. The aim is to bridge the ICT talent gap, increase academia-industry communication, and advance the digital transformation of industries. In the 2022-2023 Huawei ICT Competitions, Uganda emerged 2 nd  position globally which rose the Ugandan flag up high. This group of young intelligent Ugandans have been awarded for their outstanding efforts to excel and put the name of Uganda among the top performing countries in ICT. In the Vice President’s speech, she congratulated the outstanding students for positioning Uganda’s name high in the ICT competitions. She added on to encourage more Ugandans to take part in such competitions becau...

  The African Export-Import Bank (Afreximbank) in Brazzaville signed an agreement to provide a $300 million facility to Trident OGX Congo in a transaction expected to raise the Republic of Congo’s crude oil production by an estimated 30 per cent. Signed by Ibrahima Bagarama, Regional Chief Operating Officer - Central Africa, for Afreximbank, and  John Chisholm and Olivier Okota ,  member of the Board of Directors and Director General of  Trident OGX Congo respectively ,  the $300 million reserve-based lending facility will enable Trident OGX Congo to implement a capital expenditure programme to ramp-up crude oil production from the Mengo-Kundji-Bindi II (MKB II) oil fields.   Under the terms of the agreement, Trident OGX Congo, a fully owned subsidiary of Trident OGX International Pte Ltd, Singapore, will use the proceeds of the facility to partially finance and kickstart a seven-year development programme on the MKB II permit area located in the coast...

    Uganda Development Bank, the country’s development finance institution, has announced a UGX150 Billion financial commitment  earmarked to provide affordable and patient financing to Ugandan contractors. Dubbed the Ugandan Contractors Financing Initiative, the financing complemented by Business Advisory and Project Management advice services will support Ugandan contractors to access   bid bonds and guarantees at favorable terms and in a timely manner. Addressing the press at the UDB Head office at Rwenzori Towers, Nakasero today, Patricia Ojangole, the UDB Managing Director said limited access to patient and favorably priced working capital remains a key challenge to Ugandan contractors. “The financing difficulties and delays coupled with sourcing funds from unconventional financing sources negatively affects performance and business growth, causes contract delays, and often leads to poor quality work among other challenges,” Ojangole said.  “UDB has id...

  Prudential Uganda announces a groundbreaking partnership with Tusafishe a non-government Organization that seeks to enhance provision of clean and safe drinking water to five schools in the Mbale District. The selected schools include Nkoma Secondary School, Mbale High School, Nabuyonga Primary School, Mbale Progressive Secondary School and Mbale Progressive Annex. Together, the five schools, which have for long grappled with the daunting challenge of securing clean water, nurture the aspirations of 14,722 students, with Nkoma Secondary School alone catering for a population of 6,500 students. "This partnership exemplifies our unwavering commitment to build resilient communities in areas we serve and is in line with our purpose, For every life, For every future which speaks to our ambition to add value to the wider community, for a more sustainable, responsible, and inclusive future ," said Tetteh Ayitevie, CEO of Prudential Uganda. Currently, the schools spend about Ugx. 6...

  COMESA Court of Justice will temporarily relocate its Registry Operations from Khartoum, Sudan owing to the current political instability in the country, which has affected its operations. The decision was made by COMESA Ministers of Justice and Attorneys General during  their 26th Meeting held on 22 September 2023 in Lusaka, Zambia. This followed a request submitted by the Court requesting for temporary relocation to Zambia, where COMESA has its headquarters. Making the request, Judge President of the Court, Lady Justice Lombe Chibesakunda  expressed the Court’s empathy by the turn of events in Sudan, one of the founding Member States of COMESA. “Unfortunately, the situation as it stands now underscores the urgency of considering  alternative measures to ensure the Court continues delivering on its mandate,” she said in her address to the meeting. The Court has been based in Khartoum, since 2014 pursuant to a 2003 COMESA Decision...

Ugaanda’s First 5G Network, Airtel Uganda has climaxed its monthly mug with senior golfer mmanuel Mwaka emerging winner after gaining 43 points on the Kitante Golf Course. In partnership with Uganda Golf Club, Airtel Uganda has continued to host the popular Wednesday club nights dubbed Airtel’s Wednesday Club Nights , where Golfers get a chance to engage with the brand and win lots of goodies that culminate into a bigger monthly club night activation, at the end of each month. The September monthly mug comprised of 120 Golfers received Airtel Goodies after teeing off a 72-par course at the Uganda Golf Club today.  The winners walked away with Airtel branded umbrellas, Airtel 4G Smartphones, Airtel 4GMiFi that connects up to 10 users with 15GB free data. Mwaka outshone more than 120 skilled competitors to claim the September championship title.  His victory serves as an inspiration to young Ugandans, encouraging them to pursue their passions with dedication and enthusiasm. He...