Author: Caroline Muriuki

Uganda Securities Exchange

The 10 richest investors in companies that are listed on the USE own stakes amounting to $18.5 million. A huge portion of the market is controlled by institutional investors and parents companies of the listed entities while the 10 richest investors control about 0.30 percent of the market’s $6.1 billion valuations.

The USE was named as the best performing stock exchange in Sub-Saharan Africa in 2010.

Currently, there are nine domestic companies listed on the Uganda Securities Exchange.

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The unemployment rate in Egypt recorded 7.3 percent of the total labour force during the second quarter of 2021 according to the Central Agency for Public Mobilization and Statistics (CAPMAS). In the first quarter of 2021, Egypt’s unemployment rate was at 7.4 percent which marked a 0.1 decrease and a 2.3 percent decrease during the same period in 2020. According to CAPMAS, Egypt’s labour force in Q2 was estimated to be 29.115 million individuals in comparison to 29.284 million individuals in the first quarter which was a decrease of 0.6 percent. In urban areas, the labour force is estimated to…

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Egypt-China ongoing cooperation hits $1.8 billion according to Egypt’s Ministry of International Cooperation. According to a press statement from the ministry, the cooperation is directed towards the execution of several development projects across various sectors such as education, electricity, technical education, health and agriculture. Egypt has carried out over 1,100 training programs with China over a period of four years which has benefited over 4,000 government officials. This is in addition to 25 training programs in high priority fields which benefited government units in the fields of health, water resources, population and agriculture. Egypt’s Minister of International Cooperation Rania Al-Mashat…

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Egypt aims to increase its agricultural production by 30 percent by 2024 and increase the gross domestic product of its agricultural sector to 12 percent in the same period. According to Hala El-Said, Egypt’s Minister of Planning and Economic Development the sector will create job opportunities and increase small farmers income while increasing the country’s exports in agriculture. The agriculture sector will double its export shares to 25 per cent in 2024 from 17 per cent in 2020. El-Said was speaking during a high-level dialogue on food security in the Middle East and North Africa (MENA) region hosted by the…

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Africa has abundant natural resources and holds immense opportunities for investors to unlock its full potential. According to the International Monitory Fund (IMF), Africa’s hardwon economic gains for the last two decades which are critical in improving living standards can be reversed from the impacts of the pandemic. The scope for growth through large public investment programs is limited by the uncertain outlook for international aid and the high public debts levels. In its statement, the IMF notes that if countries in the region are to enjoy a strong recovery and avoid stagnation, Africa’s private sector will have to be…

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West Africa region received $465 million in funding from the World Bank for regional electricity access which will see countries in the region expand electricity to over a million people. The World group approved the funds to the new Regional Electricity Access and Battery-Energy  Storage Technologies (BEST) Project which will increase grid connections to fragile areas, strengthen WAPP’s network operation with battery energy storage technologies infrastructure and build the capacity of the ECOWAS Regional Electricity Regulatory Authority (ERERA). Through the project, countries in the Economic Community of West African States (ECOWAS) will enhance power system stability for 3.5 million people…

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G7 Development finance institutions (DFIs) are collaborating with several multilateral partners to invest $80 billion in Africa’s private sector over the next five years. The investments are aimed at supporting Africa’s economic recovery and growth. The project will boost support for long-term development objectives of the economies that have been affected by the pandemic. The G7 Development finance institutions consist of the private sector arm of the African Development Bank (AfDB), the European Investment Bank (EIB), the International Finance Corporation (IFC) and the European Bank for Reconstruction and Development (EBRD). The institutions play a key role in helping to build…

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The Sub-Saharan Africa economic growth is forecast to resume to 2.8 percent in 2021 and further rise to 3.3 percent in 2022 according to World Bank. The growth is due to higher commodity prices, containment of the pandemic, and stronger external demand mostly from the United States and China. According to the recently updated report from World Bank, despite the provision of vaccines by COVAX, procurements, and logistics challenges are expected to continue to affect the rollout of the vaccination. In the Central African Republic, Kenya, Niger, and Equatorial Guinea delays in major investments in extractives and infrastructure due to…

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Egypt’s economy is expected to grow by 2.3 percent in the 2020/2021 fiscal year from the previous project of 3.7 percent in January 2021 according to the World Bank’s Economic Prospects report June 2021. According to the report, In the 2021/2022 fiscal year Egypt is expected to see further growth rise to 4.5 per cent down from 5.8 percent in the January report, which is a decrease of 1.3percent. In the Fiscal year 2022/2023, the report projects a growth rise of 5.5 percent. According to the World Bank, in the first half of 2021 Egypt’s economy remained sluggish despite the…

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Global investment in energy is set to rebound to nearly 10 percent in 2021 to $1.9 trillion according to a report by International Energy Agency (IEA). According to the report, there are signs that developers are using the opportunity provided by accommodative monetary policy and government backing to plan infrastructure developments and investments in new projects despite many energy companies being in a fragile financial state. The anticipated improvement in investments in 2021 is a mixture of a recurring response to recovery and a structural change in capital flows towards cleaner technologies. “With energy investment returning to pre-crisis levels, its…

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