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By Abdul Rahman Suagibu – NEW AFRICA DAILY NEWS, Freetown, Sierra Leone- Uganda from October 2018, central bank has reduced its monetary policy rate to 9 %. This represses a minus of 100 basis points from the previous rate of 10 %. This came to pass at a policy meeting on Monday 7th October, 2019. Likely to the sudden cuts by the Central Bank Rate (CBR), the rediscount rate has been reduced to 13 %, and the bank rate to 14 %. In a statement by Apex Bank, the move was bent on expediting a subdued economic growth. “The economy continues to grow but at a slowing rate,” the bank said, pointing to the gross domestic product (GDP) which slowed in the first half of 2019 compared to the second half of last year. Uganda’s GDP eased to annual growth of 5.4 % in the second quarter of this 2019...

By Abdul Rahman Suagibu – NEW AFRICA DAILY  NEWS, Freetown, Sierra Leone-  Ivory Coast, Standard Bank officially launch Investor services to put over the West African Economic and Monetary Union region. Standard Bank on Wednesday 9th October, 2019 officially launch Investor Services business in Côte d’Ivoire, prioritizing the Bank’s existing regional Investor services to put over the West African Monetary and Economic Union (UEMOA) region. This expansion connects with Standard Bank’s process of planning to be the chosen as the provider for global and domestic institutional investors across Africa. Joel Toure – Chief Executive for Stanbic Bank Côte d’Ivoire on the launch noted, “By offering Investor services in Côte d’Ivoire and across the West African Monetary and Economic Union...

By Abdul Rahman Suagibu – NEW AFRICA DAILY  NEWS, Freetown, Sierra Leone-  Ambassador Ukur Yatawi – Acting Treasury Cabinet Secretary beckoned residents of Moyale to make proper utilization of the recently established Moyale One Stop Border Point to boost trade between Kenya-Ethiopia. Ukur noted that, the latest facility was among other six in the country being underutilized compared with the others which were raising a lot of revenue. In his statement to real participants in the region, the Cabinet Secretary highlighted ways to establish One Stop-Border Posts (OSBP) the more at the Kenya-Ethiopia border to facilitate border to accelerate trade between the two governments and promote high levels of tax compliance among the traders in the region. The Acting National Cabinet Secretary,...

BY ANIN AGYEI- NEW AFRICA DAILY  NEWS, Accra, Ghana- TOTAL PETROLEUM Ghana Limited (Total Ghana), one of the leading Oil Marketing Company (OMC) in Ghana, has won the Chartered Institute of Marketing Ghana (CIMG) award as the Petroleum Company of the Year. A statement issued in Accra said the citation from CIMG commended Total Ghana for putting measures in place to be the preferred brand among the numerous OMCs as it offered solution-based products and services to the public. The Lubricants Manager of Total Ghana, Mr. Henry Adzewodah said it is an honor to receive such a prestigious award. “For the past years, Total Ghana has delivered quality and innovative products based on extensive research for the benefits of motorists.” The evaluators of the awards applauded Total Ghana for...