Connect with us

Published

on

Equity Group Holdings Plc and DEG – Deutsche Investitions– und Entwicklungsgesellschaft mbH, the German Development Finance Institution (DEG), announced the launch of the German Desk for the East African market. The German Desk is part of Equity Group’s efforts to reach out to a broader range of European SMEs and entities. It will provide comprehensive relationship management and financial services to European SMEs, and their local partners in the region.

The German Desk will offer a wide range of services, including account opening, trade facilitation and finance, transaction banking, credit lines, introductions, and investment through financing. These services are designed to ease and empower business linkages and support trade engagement, partnerships, and enable local companies to acquire German equipment and technology platforms. By leveraging the combined expertise of DEG, the German Chamber of Commerce and Industry (DIHK), and Equity Bank, the German Desk aims to streamline business processes and accelerate growth for our clients.

“Supporting German Businesses in Africa is a long-term strategic focus for DEG. Therefore, we are delighted to have won Equity Bank Kenya as a partner for the German Desk Kenya. This is a significant step forward in strengthening economic ties between Germany and East Africa,” said Ms. Petra Kotte, Senior Director of Infrastructure, Energy, and German Business at DEG. “By providing tailored financial solutions and fostering cross-border partnerships, we are empowering businesses to seize opportunities in this dynamic market.”

Equity Group Holdings has positioned the German Desk as a key component of its broader strategy to foster connections and partnerships with European markets, particularly Germany, under its Global Partners Program. By offering tailored financial solutions and facilitating business linkages, the Group aims to support German and European companies in their expansion into East Africa.

“This partnership with DEG marks a significant milestone for Equity Group Holdings as we continue to strengthen our international footprint and facilitate cross-border trade,” said Dr. James Mwangi, Equity Group Managing Director, and CEO. “The German Desk will provide a platform for German and the broader European private sector to access the vibrant East African market, while also supporting local businesses in their growth and development, in line with the Africa Recovery and Resilience Plan.”

“For the last 77 years, Africa has not benefitted from the world economic order that has served the interests of others. To place Africa in its rightful place, the continent needs to look for partners that can really support it to be on the table. The best we can do to achieve that is to use the private sector to build people-to-people and business to business level relationships. We believe that Europe, through Germany will be a good partner for Africa’s transformation,” Dr. Mwangi added.

German-Kenyan trade relations have been steadily growing over the years. Germany is one of Kenya’s major trading partners in Europe, with significant trade volumes in various sectors, including automotive, machinery, and chemicals. The German Desk aims to further strengthen these ties by providing enhanced financial services and facilitating business connections. The German Desk Program is part of the Africa Business Network (“Wirtschaftsnetzwerk Afrika”) and supported by the Federal Ministry for Economic Affairs and Climate Action (BMWK).

“The launch of the German Desk is a testament to the growing economic partnership between Germany and Kenya,” said Sebastian Groth, the German Ambassador to Kenya. “This initiative will not only benefit German businesses but also contribute to the socio-economic development of Kenya and the wider East African region.”

Commenting on the launch of the partnership, EU Ambassador to Kenya, Henriette Geiger, said: “SMEs are the lifeblood of Europe’s economic success. This partnership between Equity and DEG, amplified by the EU-Kenya Economic Partnership Agreement, demonstrates the immense potential of Kenyan and East African SMEs to drive prosperity.”

The German Desk in Nairobi will support clients and partners in Kenya, Tanzania, Uganda, Rwanda, South Sudan, , and Ethiopia.  The desk will be staffed by bilingual professionals who possess a deep understanding of both German and East African cultures. This cultural sensitivity will enable the team to effectively address the unique needs of German firms and their local partners. The launch event, hosted at the German Ambassador’s residence in Nairobi, was attended by key stakeholders from the business, diplomatic, and development communities.

https://theinsider.ug/index.php/2024/11/14/equity-group-and-deg-launch-german-desk-to-support-africa-german-business-links-and-boost-east-african-trade/

News

Ugandan Citizen Abducted, Held in Secret Detention for Three Months, Sparks Outrage and Calls for Justice

Published

on

A disturbing new case of unlawful detention has surfaced, highlighting the ongoing human rights crisis in Uganda. A Ugandan citizen was reportedly abducted and held in a secret facility, known as a “safe house,” for three months, only to be released without charge or explanation. This incident, reported by NTV Uganda, has sparked widespread condemnation and renewed calls for accountability regarding human rights abuses in the country.
While the details surrounding the abduction remain unclear, reports indicate that the individual was taken without due process and held incommunicado—an action that has long been condemned by human rights organizations. The victim’s release, with no charges filed and no clear justification, has angered activists and citizens, who view this as yet another case of egregious abuse of power by the state.
“This is a recurring pattern,” said one human rights activist. “Abductions, secret detentions, and unexplained releases have become all too common in Uganda. These acts violate fundamental human rights and erode public trust in the justice system.”
The use of “safe houses,” unregistered detention facilities reportedly operated by security forces, has been a focal point in numerous allegations of torture and illegal imprisonment. Despite repeated calls from both local and international organizations for their closure and accountability for those involved, little action has been taken to address these violations.
This case underscores the urgent need for reform within Uganda’s security apparatus and greater accountability for human rights abuses. Observers hope that drawing attention to these injustices will spur concrete action to bring those responsible to justice and ensure the protection of basic human rights.
As frustration mounts, calls for both domestic and international pressure to hold the government accountable for such crimes grow louder. “One day, there must be accountability for all these crimes against our people,” stated one social media user, reflecting the sentiments of many Ugandans.

Ugandan Citizen Abducted, Held in Secret Detention for Three Months, Sparks Outrage and Calls for Justice

Continue Reading

News

NUP Gathering Disrupted: Kyagulanyi Alleges Security Force Harassment and Arrests

Published

on

National Unity Platform (NUP) President Robert Kyagulanyi has accused Ugandan security forces of using excessive force to disrupt a planned NUP gathering. The allegations were detailed in a statement shared on Twitter, following an event held to honor children of NUP supporters who were killed, disappeared, or detained for their political beliefs.
According to Kyagulanyi, security personnel, under the command of an officer identified as Asiimwe, carried out a preemptive operation early in the morning upon learning of the NUP’s plans. The forces allegedly stormed the premises, arrested workers, and deployed tear gas to disperse those present.
“The criminals under the command of one Asiimwe deployed early morning, arrested our workers, and threw tear gas into our premises. They’ve cordoned off the premises and blocked all people from accessing the place,” Kyagulanyi wrote.
Among those reportedly arrested were Saava Peter, Mudenya Samson, and Turyasingura Samson. Kyagulanyi claimed the detained workers were subjected to beatings and interrogated about their political affiliations, with security operatives labeling them as terrorists.
“These JATT operatives asked the workers who they support politically, branding them terrorists and criminals—their only crime being that they work with us. You can imagine the indignity!” Kyagulanyi lamented.
This incident adds to the growing tension in Uganda’s political climate, where opposition parties frequently accuse the government of stifling dissent. Despite the challenges, Kyagulanyi ended his statement with a message of defiance and optimism, proclaiming, “UGANDA WILL BE FREE.”

NUP Gathering Disrupted: Kyagulanyi Alleges Security Force Harassment and Arrests

Continue Reading

News

Sudan Demands Apology from Uganda Over Army Chief Muhoozi Kainerugaba’s Threat to Invade Khartoum

Published

on

Sudan has demanded an official apology from Uganda over “offensive and dangerous” comments made by the chief of Uganda army staff, who threated to invade Khartoum, the Sudan Tribune has reported.
General Muhoozi Kainerugaba, son of Ugandan President Yoweri Museveni and CDF of the Ugandan army, posted two comments on the X platform on Tuesday in which he threatened “to capture Khartoum” with the support of the US President elect Donald Trump after he takes office. The posts were deleted later.
“The government of Sudan demands and official apology from the Ugandan government for the offensive and dangerous comments of the army commander,” Sudan’s foreign ministry said in a statement that the Sudan Tribune said it has seen.

Sudan Demands Apology from Uganda Over Army Chief Muhoozi Kainerugaba’s Threat to Invade Khartoum

Continue Reading

Trending

Copyright © 2024