Cnooc opts out of Tullow-Total deal
The China National Offshore Oil Corporation on Tuesday notified Tullow Oil Plc and Total SA that it will not acquire a stake in Tullow’s assets in Uganda
Uganda Business News
How to protect Covid-19 response funds from looters
According to the United Nations Office on Drugs and Crime, up to 25% of global procurement funding is lost to corruption. With billions of dollars flowing into African countries to support their Covid-19 responses, there is an urgent need to ensure that the money goes where it is intended
The army and violence: handling of coronavirus crisis hints at change
In recent months Uganda’s army has shown professionalism and discipline in dealing with a number of crises, including a desert locust invasion and a national electricity outage. The inter-agency COVID-19 taskforce is led by the army, although it was set up expressly to support the health ministry
Smart Girls Uganda in partnership to give out free masks to vulnerable women
Smart Girls Uganda, a not for profit organisation, in partnership with Tenge Collections an Afrocentric fashion design house and Hope Hub have distributed masks to vulnerable women in Nakasero Market in a bid to control the spread of the Covid-19 coronavirus
Total E&P acquires Tullow Uganda’s stake for $575m
French oil major Total SA said on Thursday that is acquiring Tullow oil’s assets in Uganda’s Lake Albert oil project for $575m (Shs2.1 trillion), with $500m to be paid once the deal has been approved by the government and $75m paid when a final investment decision has been reached
Stanbic Uganda offers loan holidays to clients affected by the Covid-19 coronavirus
Stanbic Bank Uganda has announced loan holiday packages for businesses and personal clients as measures against the economic impact caused by the Covid-19 global pandemic
Will the coronavirus crisis derail the African century?
Even before the virus has made much headway on the continent, African currencies, sovereign debt, and public equities have fallen dramatically, in many cases experiencing losses far greater than in developed or other developing and emerging markets
Coronavirus update: Confirmed cases still at 52
Today, all the 150 samples tested were negative for Covid-19 at the Uganda Virus Research Institute. The total number of Covid-19 coronavirus confirmed cases in the country still stands at 52
Uganda and oil companies reach deal on Tullow farm-down
The Uganda government and the three joint venture partners in the Lake Albert oil project —Tullow Oil, Total E&P, and China National Offshore Oil Corporation —have reached a deal on the sale of Tullow’s assets, this website can confirm
Profile: Juma Kisaame
Kisaame was thrown into the deep end at Dfcu Bank when senior bank officials were accused of complicity in the Global Fund corruption scandal, which forced his predecessor to leave after less than two years on the job