Energy & Mining
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UNOC records Shs 37bln profit in financial year ended June 30, 2023
KAMPALA, May 28, 2024 – The Uganda National Oil Company [ UNOC ] generated a profit of Shs 37.6 billion surpassing their projected revenue of Shs 6.989bln in the financial year 2022/2023.…
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Uganda named top investment destination in Africa
ENTEBBE, May 24, 2024 – President Yoweri Kaguta Museveni recently received an award that ranks Uganda as a top investment destination on the African continent. Uganda beat six other nations to emerge…
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Uganda’s export receipts rose 0.2 percent in March 2024
KAMPALA, May 20, 2024 – During March 2024, Uganda’s exports increased from US$ 633 million in February to USD 634.43mln, representing a 0.2 percent growth rate, according to the Performance of the…
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Thermal power dominates in COMESA region at 76 percent
CAIRO, May 20, 2024 – Thermal power dominates power generation in the COMESA region, accounting for more than 76 percent with hydro energy at 24 percent. This is out of the total…
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Spiro agrees to US$50mln debt facility with Afreximbank to accelerate expansion
KIGALI, May 18, 2024 – Spiro, the largest electric vehicle company in Africa, is pleased to announce it has signed heads of terms for a US$ 50 million debt facility with the…
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COMESA region moving closer to harmonised energy regulatory regime
CAIRO, May 15, 2024 – Energy experts recently met in Cairo, Egypt for a two-day consultative workshop on regional harmonisation of regulatory frameworks and tools for improved electricity regulation in the COMESA…
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Africa requires US$ 277bln annually to achieve 2030 SDGs, says IAE 2024 Panel
PARIS, May 15, 2024 – Boasting 60 percent of the world’s best solar resources, Africa’s solar power potential presents multiple opportunities for investors seeking long-term, scalable financial prospects. A panel session during…
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Govt exempts electric vehicle makers from stamp duty
KAMPALA, May 7, 2024 – Local companies manufacturing electric vehicles, electric batteries, or electric vehicle charging equipment or fabricator of a frame and body of an electric vehicle; and employ 80 percent…
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House halts Bujagali tax exemption
KAMPALA, May 7, 2024 – A proposal by government to exempt the Bujagali Hydro Power project from income tax has been rejected by the Members of Parliament who instead demanded a report…
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Trident Energy’s Republic of Congo oil field acquisition lauded as key step forward
JOHANNESBURG, April 28, 2024 – Oil and gas company Trident Energy has secured agreements with multinational energy companies Chevron and TotalEnergies to obtain stakes in the Republic of Congo’s oil fields. The…
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