Commercial banks operating in Uganda are reducing their physical presence across the country. Many are issuing notices telling the public about the closure or merger of some outlets, as well as relocation of some customer service points. Bankers say the move is intended to cut operational costs. CGTN’s Michael Baleke has that report.
Business & Economy
For months now, Africa’s rough diamonds have been increasing in value but the sale proceeds do not reach the people. Instead, they benefit metropolitan elites and the mine companies, which are usually foreign-owned. Last week Tanzanian police struck a blow against international diamond smuggling. A consignment of diamonds worth around 28 million euros ($33.4 million) […]