Business Updates

Ethiopia is opening up its telecoms sector, hitherto a monopoly of the state-owned Ethio Telecom, and last month authorities awarded the first private operator licence.

South Sudan’s oil industry is steadily recovering as a power-sharing government that ended five years of civil war remains in place, with production increasing to more than 170,000 barrels a…

Consumer prices rose 5.9% from a year earlier, the bureau said Wednesday in an emailed statement.

The riders who operate in areas around Mutukula town council in Kyotera district say they are able to save Shs 570 per every litre if they fuel from Tanzania.

Bank of Tanzania gave lenders until the end of 2022 to reduce their cost-to-income ratios to below 55% and to cut non-performing loans to below 5% of their books

The airline will be formed through the merger of Sobugea, an agency that runs the country’s airports, and Air Burundi, which has not operated a plane since 2009.

Importers from neighboring countries are opting to buy sugar from bonded warehouses within Uganda, without waiting for it to be shipped to their countries.

KCB will pay cash for the shares in the Rwandan bank, it said in a statement, to be computed using a price to book multiple of 1.09.

The small lender is owned by Tanzanian and Chinese shareholders.

Building the 1,445-kilometer pipeline, which stretches from Uganda’s oil fields to Tanzania’s Tanga port, is expected to take three years.