Business – Page 42

Sep222020 by Abel kawereNo Comments

Serena Expands its Footprint into DRC with Goma Hotel

Business, FEATURED, Latest News, Tourism, TRAVEL

The hotel, which officially opened its doors last Tuesday, is close to Kahuzi-Biega National Park and the active volcanic Mt Nyiragongo. It is a 10-minute drive from the Goma International Airport and a five-minute drive from the Rwanda border at Gisenyi. Serena Hotels has opened a new property in Goma, the capital of North Kivu province in eastern DRC. The five-star Goma Serena Hotel is located at the lakefront of Lake Kivu. The hotel, which officially opened its doors last Tuesday, is close to Kahuzi-Biega National Park and the active volcanic Mt Nyiragongo. It is a 10-minute drive from the Goma International Airport and a five-minute drive from the Rwanda border at Gisenyi. In a press release, group managing director of TPS Serena Hotels – Africa, Mahmud Jan Mohamed said: “Exp...

Sep222020 by Abel kawereNo Comments

StanChart Goes Digital, is Closing its Branches in Uganda.

Business, FEATURED, Latest News

Standard Chartered Bank has announced that it is in advanced stages of transforming into a fully digital bank and has since gradually started the process of closing most of its branches in Uganda. The transition means that StanChart customers will have to rely on the SC Mobile App, Online Banking Platform, Digital Banking units, Agent Banking, Cash Deposit Machines and increasing the ATM network for all their banking needs. The bank has already published a memo communicating to customers and issued them the requisite 30 days’ notice with plans to close most of its branches on 31st October 2020. However, the bank will maintain a 3-branch model aligned to serve its client segmentations i.e Lugogo Branch for the Affluent clients, City branch for Business Banking Clients and Sp...

Sep172020 by Abel kawereNo Comments

MTN Uses Netherlands Tax Haven to Escape African Tax Bills

Business, FEATURED, NEWS

South African telecoms giant MTN appears to have avoided paying any capital gains tax in Uganda on the lucrative sale of its investment in mobile phone masts in the country. MTN’s latest financial statements show a profit of 1.3 billion South African Rand – almost $80 million — from the sale of its interests in Uganda. Taxed at the standard 30 percent rate, this could have yielded $25 million for the hard-pressed country. According to the newspaper, MTN had a 49 percent shareholding in a Dutch joint venture company which ultimately owns the towers, and it sold its stake in this Dutch company instead of selling the towers themselves. Now look at this separate story, from Ghana Business News: Ghana could miss out on as much as GH¢400 million in capital gains tax following t...

Sep162020 by Our ReporterNo Comments

The US Government is Investing in E-commerce Start-ups in Kenya and Uganda

Business, FEATURED, NEWS

Despite its ongoing struggles with poverty and epidemics, there is good news coming out of Africa these days. The US government is investing in e-commerce start-ups in Kenya and Uganda in an effort to boost self-sufficiency in those regions, according to an 11 September article in Quartz magazine. Meanwhile, China has been accelerating their investment in Africa; the China National Offshore Oil Corporation is collaborating with the French oil firm Total to sink 500 wells and build the world’s longest heated oil pipeline. Finally, struggling airlines might try to boost their business by taking advantage of the growing markets there; United Airlines announced on 8 September that they are adding service to South Africa, Nigeria and Ghana. About ResearchAndMarkets.com Research...

Sep122020 by Abel kawereNo Comments

Total, Uganda Agree on Crude Pipe Issues to Pave Spending

Business, FEATURED, Latest News, Oil & Gas

Total SA said it has agreed with Uganda on issues regarding the host government that will pave the way for a final investment decision for a crude export pipeline. The breakthrough regarding the 1,445-kilometer pipeline was agreed at a meeting between Ugandan President Yoweri Museveni and Patrick Pouyanné, the Total chairman and chief executive officer, and will pave way for the investment decision in the “coming months,” the company said Friday by email from the Ugandan capital, Kampala. Total is now seeking to conclude a similar host government agreement with Tanzania, whose territory the pipe will traverse, to complete the tendering process for all engineering, procurement and construction contracts, according to the statement. The French major is leading plans to build the co...

Sep112020 by Abel kawereNo Comments

RwandAir Cancels Airbus & Boeing Orders

Business, FEATURED, NEWS, Rwanda, Tourism

Rwanda is an incredible country that has been trying to grow its tourism significantly (at least pre-coronavirus), and RwandAir is a part of that strategy. While it’s not the most profitable airline, it serves the purpose of providing more access to Rwanda, and that’s something the government has been supportive of. Unfortunately, some of the company’s big growth plans won’t be happening anymore. It’s being reported that RwandAir has canceled its outstanding aircraft orders. Specifically, this means that RwandAir has canceled its order for two Airbus A330-900neos, and two Boeing 737 MAX 8s. RwandAir currently has a fleet of a dozen aircraft, made up of six different models: One A330-200One A330-300Two 737-700sFour 737-800sTwo CRJ-900sTwo Dash 8-400s RwandAir was go...

Sep22020 by Our ReporterNo Comments

The Transformation from Non-Measurable Marketing to Affiliation.

Business, FEATURED, NEWS

By Keefa Nuwahereza The COVID-19 pandemic has brought a lot of challenges to several individuals and businesses currently grappling with economic downturns. Sports betting entertainment as an industry has not been exempted with several betting houses and platforms having to scale down on their operational costs and advertising expenditures for them to survive. The closure of betting shops due to COVID19 has most sports betting companies embracing online betting. The suspension of sports events such as football leagues and competitions led to the emergence of Simulated Leagues and E-sports onto the sports betting entertainment platforms and a boost in Online Casino. The shift has the firms considering several efficient but effective marketing options as well such as social media, Searc...

Aug312020 by Our ReporterNo Comments

Housing Finance Bank Dragged to Court.

Business, FEATURED, NEWS

By Keefa Nuwahereza Housing Finance Bank was dragged to court over fraudulent sale of city property at 8billion rather than 30billion at the current market value. A city businesswoman and widow has dragged Housing Finance Bank to court over fraudulent sale of her property at Kyadondo Road Nakasero in Kamapala. Ida May Kwesiga who owns Mayflower Apartments sitting on an acre of land at Nakasero has ran to land division of the high court in Kampala to sue Housing Finance Bank together with Balaji Group East Africa limited. The businesswoman says she entered into an agreement with bank in 2013 to develop her property by erecting the apartments and the bank approved a loan of $2.7m to her, which was to be paid back in 10 years. According to court documents, the loan fac...

Aug272020 by Our ReporterNo Comments

Mbarara Tycoon Apollo Balya Reclaims his Mall.

Business, FEATURED, NEWS

The information reaching our desk indicates that Tycoon Balya has been allowed to resume operating his business in the building following a five days’ closure by Orient Bank over sh9bn debts. Mbarara's top hardware dealer Apollo Muhumuza Balya has Wednesday reclaimed his Balya Mall located along Amahembe g'Ente roundabout, Mbarara-Masaka road. When contacted for a comment, Balya hesitated. He only confirmed that business has resumed. "Yes, we are operating but wait for the matters to first settle I will let you know," Balya said.

Aug272020 by Our ReporterNo Comments

China’s Tecno sold thousands of smartphones with malware in Africa

Business, FEATURED, NEWS

A Software that eats up mobile data and registers people for unwanted subscriptions has been found pre-installed on thousands of low-cost Chinese smartphones in Africa more than two years after it was first detected. The Triada malware signs mobile users up to subscription services without their permission and has been discovered on Tecno W2 smartphones in countries such as Ethiopia, Ghana, Cameroon and South Africa, according to a report published this week in partnership with BuzzFeed. Secure-D, the anti-fraud platform that conducted the research, recorded 19.2 million suspicious transactions since March 2019 from over 200,000 unique devices. "The fact that the malware arrives pre-installed on handsets that are bought in their millions by typically low-income households tells you...