World Bank Group Archives – CEO East Africa

Ernst & Young’s reputation on the line, as World Bank slaps a 30-month ban on EY Kenya

by CEO ReporterIndustry & Analysis The Big StoryJuly 3, 2024July 3, 2024

The World Bank Group (WBG) has slapped a 30-month ban on Kenya-based Ernst & Young LLP (EY Kenya), which is in connection with sanctionable practices as part of the Somali Core Economic Institutions and Opportunities Program (SCORE) and the Second Public Financial Management Capacity Strengthening Project (PFM II) in Somalia.SCORE…

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Absa Group concludes further Agreements with World Bank’s MIGA to advance Pan African Climate Finance

by Paul MurungiCompany News News & Analysis The Big StoryJune 30, 2024June 30, 2024

Absa Group Ltd has concluded further agreements with the Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank Group, freeing up additional financial capacity for investments in Pan-African climate finance projects. In 2019, MIGA issued capital guarantees worth USD 497 million to Absa Group in support of managing…

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Parliament gives nod to UGX1.2 trillion government loan for electricity access approved

by CEO ReporterNews & Analysis ParliamentNovember 23, 2022November 23, 2022

Parliament of Uganda has approved a request for government to borrow up to US$331.5 million (UGX1.23 trillion), from the International Development Association of the World Bank Group, upon which it will obtain a grant worth US$ 276.5 million.The loan is for financing the Electricity Access Scale Up Project (EASP), whose…

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FutureLink Technologies becomes first African company to win IFC’s Global SME Finance Platinum Award for Product Innovation of the Year

by CEO ReporterNews & AnalysisSeptember 21, 2022September 21, 2022

FutureLink Technologies has been named Platinum winner of Product Innovation of the Year at the 2022 Global SME Finance Forum Awards. This is the first time an African company wins this highest award in the category, attesting to the rise of industry changing innovations on the continent.While receiving the award…

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Uganda wins Bronze at Pan African Robotics Competition in Senegal

by CEO ReporterNews & AnalysisJuly 5, 2022July 5, 2022

Uganda has emerged 4th out of 33 countries who have completed a pan African Robotics Competition in Senegal.The win has also placed Uganda in the first position in East Africa ahead of Burundi and Kenya who also participated.On top of the bronze win, the Uganda team has won ‘Most Innovative…

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A few sparks can light a Prairie fire: EASTRP contributes to regional integration and excellence in TVET

by CEO ReporterNews & Analysis Thought LeadershipJune 7, 2022June 14, 2022

By Xiaoyan Liang, Kaboko Nkahiga, Kirill Vasiliev, Annet Kiura, Biruk Gabreyohannes, and Innocent MulindwaCountries in East Africa, led by Ethiopia, Kenya, and Tanzania, have taken a big step towards regional cooperation in Technical and Vocational Education and Training (TVET). On May 24th, 2022, education leaders from the three countries signed…

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Former GE Africa President Farid Fezoua appointed Director of Health & Education at World Bank’s IFC

by CEO ReporterNews & AnalysisMay 20, 2022May 20, 2022

The International Finance Corporation ( IFC), part of the World Bank Group has appointed Farid Fezoua as the Director of Health & Education. The appointment was made earlier today in Washington DC, United states of America. According to the IFC, Farid’s key priorities will be to drive the implementation and…

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Parliament Approved Loans Worth UGX 18.6 Trillion in 2020, report says

by URNFinanceJanuary 5, 2021January 5, 2021

Last year Parliament approved loans to the tune of UGX18.69 trillion, according to the report detailing the business transacted by the House in the year 2020. The approved loans are up from the UGX6.15 trillion that legislators approved in 2019.According to the report, 17 loan request proposals authorizing government to borrow…

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Brand of Merit: Jibu Wins IFC/Financial Times Transformational Business Award

by CEO ReporterCompany NewsOctober 31, 2020October 31, 2020

Jibu, a social enterprise pioneering a powerful franchising model to supply safe drinking water across 7 African countries, has won the Transformational Business Award for Transformational Solutions in Urban Infrastructure. The Financial Times and the International Finance Corporation (IFC), a member of the World Bank Group, gathered senior investors, innovators, social…

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World Bank grants Uganda $130m to support road infrastructure in refugee hosting districts

by Samuel MuhimbaFinanceSeptember 12, 2020September 12, 2020

The World Bank Board of Directors has approved a grant of $130.8 million from the International Development Association (IDA) to ease the movement of goods and people and improve access to social services and job opportunities in the refugee hosting districts in the West Nile sub-region of Uganda. The grant is financed through the IDA18 Window for Host Communities and Refugees. The Uganda Roads and Bridges in the Refugee Hosting…

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