Financial
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Afreximbank calls for increased collaboration to accelerate the green energy transition in Africa
WASHINGTON D.C., October 31, 2024 — The eighth Babacar Ndiaye Lecture held at the Four Seasons Hotel in Washington D.C., days ago under-scored the need for African nations to strike a balance…
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Stanbic Bank cuts interest rate to 19.50 percent
KAMPALA, October 30, 2024 — Uganda’s largest bank by assets, Stanbic Bank, has reduced its local currency prime lending rate [PLR] to 19.50 percent from 19.75 percent, effective December 1, 2024. This…
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South Africa: Cabinet approves funding policy for small businesses and cooperatives
JOHANNESBURG, October 29, 2024 — The South African Cabinet recently approved the final funding policy for micro, small and medium enterprises [MSMEs] and cooperatives, for implementation. This was revealed by the Minister…
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Investment conference to strengthen local governments participation in intra-African trade set to be held in Kenya
CAIRO, October 29, 2024 — In a bid to strengthen the role of Africa’s sub-sovereign governments in driving intra-African trade and investment, and the successful implementation of the African Continental Free Trade…
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MDBs sign US$ 1bln exchange exposure agreement to increase development lending capacity to African nations
WASHINGTON, DC., October 28, 2024 — The African Development Bank (AfDB] and the Asian Development Bank [ADB] have signed a US$ 1 billion exchange exposure agreement [EEA] aimed at enhancing the African…
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Fishing: Amolatar district boss demands withdrawal of UPDF from L. Kyoga
AMOLATAR, October 28, 2024 — Geoffrey Ocen Kiring, the LC5 Chairperson of Amolatar district, has called for an amendment to the Fisheries and Aquaculture Act, 2023, to allow fishermen to use boats…
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Hoima district resumes disbursement of PDM funds
HOIMA, October 28, 2024 — Hoima district authorities have resumed disbursing Parish Development Model [PDM] funds to beneficiaries. Launched in February 2022, the PDM is a government initiative aimed at transitioning 3.5…
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Ninth Africa Energy Market Place held in Dar es Salaam ahead of key Africa Heads of State Energy Summit
DAR ES SALAAM, October 25, 2024 — Further to an April 2024 pledge by the Presidents of the African Development Bank and the World Bank to bring electricity access to 300 million…
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SACCO and VSLA leaders trained on governance and financial literacy
GULU CITY, October 25, 2024 — One hundred twenty leaders from Savings and Credit Cooperative Organizations [ SACCOs ] and Village Savings and Loan Associations [VSLAs] in the Acholi Subregion have completed…
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Widespread progress in African financial markets
KAMPALA, October 25, 2024 — There have been clear improvements across countries in the Absa Africa Financial Markets Index 2024. Scores have risen for 23 countries [82 percent], which is the highest…
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