Facebook hid £440m in Cayman Islands tax haven

Accounts filed by Facebook Ireland last week show that the social media giant funnelled £440m into an Irish sister company in 2011, which then shifted the money into a subsidiary...

Uganda to construct oil refinery

Ugandan President Yoweri Museveni has emphasised the need for his country to refine its oil instead of exporting it in crude form.

IMF extends zero interest Rates on poorer-country loans

The International Monetary Fund has approved a two-year extension to the zero interest rates charged on loans to low-income countries.

Ugandan meat-processing firm eyes local market


A Ugandan meat processing firm, Fresh Cuts Uganda, is seeking to open operations in the country.

Call to integrate region’s capital markets

The capital Markets  of KenyaAuthority has urged stakeholders to support the development of a regionally integrated market to meet the growing demand for capital in East Africa.

RwandAir, KQ set to enter strategic partnership


RwandAir and Kenya Airways (KQ) have announced plans to form a strategic partnership that is expected to benefit both Airlines as well as their customers.

EAC calls for fair trade deals with Europe

East African States want the signing of economic partnership deal with the European Union to be in step with regional integration in order to avoid upsetting the common market protocol...

Tigo to foster women entrepreneurship


Rwandan women entrepreneurs will be among 4,000 people to benefit from a scheme set up by Millicom International Cellular, (Tigo), to foster women entrepreneurship in the fast growing African mobile...

Bralirwa shares buoyed by expansion plan

Bralirwa’s stock has maintained its upward trend, riding on growing demand to touch a new high of Rwf620.

Lack of business support services hampering SMEs access to finance

Experts say that lack of access to business support services is slowing down efforts to boost the fragile sector that is seen as a source of employment and key driver...

BRD to continue financing coffee farmers


The Rwandan Development Bank, BRD has pledged to maintain credit support to coffee farmers in both the local currency and for the first time in dollars.

Smartphones outdo laptops, computers in user survey


Smartphones have surpassed desktop computers and laptops as the preferred devices for completing work, according to a report by technology firm Cisco.

Global economy: Developing countries sceptical


Developing countries are sceptical about the global economy expansion next year compared to their advanced counterparts.

Business headlines in the past week

KENYA has joined Rwanda and Tanzania in clamouring for a review of the quota system in the recruitment of East African Community staff on grounds that the formula is unfair.

Farmers to benefit as Inyange introduces fruit cocktail juice


FRUIT farmers in the country are expected to reap big from their produce following Inyange Industries Ltd’s launch of the fruit juice cocktail brand which would prop up fruit supply...

Women obsessed with smartphones, says survey


WOMEN are more inclined to obsessive behaviours than men when utilising their smartphones, new research has shown.

Boost for African business as graduates return as entrepreneurs

African Diasporan MBA students from leading Western business schools have affirmed their conviction in Africa’s potential for fostering small-to-medium sized enterprises (SMEs).

Transport crippled in Mombasa as State cracks whip on axle load

Transport at the port of Mombasa was late last week crippled after the Mariakani weigh bridge became a no-go zone for trucks.

Airtel Rwanda enters Blackberry services fray


Airtel Rwanda has launched its Blackberry services with an assurance to its subscribers that the service is part of its array of affordable products.

Local oil processor contracts farmers to supply raw materials

A private processor of essential oils, Ikirezi Natural Products Limited has signed a Memorandum of Understanding with farmers to buy from them patchouli leaves in order to process products for...

Tigo launches Blackberry services


AS part of the celebrations to mark three years since it launched its services in the country, the country’s second telecom giant –Tigo Rwanda is launching Blackberry services, a move...

Safaricom faces court challenge over banking service

Kenya’s Safaricom Ltd is facing a lawsuit from a local micro finance firm over the telecom group’s revamped mobile phone banking service M-Shwari.

VISA to scale up mobile money solutions


Due to its ability to provide an interactive network in the mobile payment system, Visa’s mVisa facility will scale up mobile money solutions to bank the unbanked, especially the rural...

Kenya in unison with region on EU agreements

Kenya has denied allegations of trying to ‘force’ faster completion of negotiations for the five countries in the East African region to sign the Economic Partnership Agreements (EPAs) with the...