Cable Bahamas axes 87 staff on furlough

Cable Bahamas’ top executive yesterday admitted that hopes the COVID-19 crisis would “be short term” have been dashed as it permanently terminated 87 staff. Franklyn Butler, its president and chief executive, told Tribune Business that the pandemic’s “harsh reality” meant the BISX-listed communications provider had no choice but to “right-size to survive” given “growing” challenges in collecting revenues due from customers. The move, which cuts the combined workforce at Cable Bahamas and its Aliv mobile affiliate by 11.5 percent, is effectively turning the 96 temporary lay-offs unveiled in early April…

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ANNE JUUKO: Empowering Uganda’s SME’s – The engine for growth

KAMPALA — Amongst all the sectors in Uganda, the Small and Medium Enterprise (SME) sector remains the engine of growth for economic development, innovation and wealth creation. In recent reports by the Uganda Investment Authority, SMEs are spread across all sectors with 49% in the service sector, 33% in the commerce and trade, 10% in manufacturing and 8% in other fields. An amazing fact is that over 2.5 million people are employed by SMEs in Uganda. They account for approximately 90% of the entire private sector, generating over 80% of…

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Credit Lent to Kenyan SMEs Grows By 7% as Economy Adjusts to Repeal of Cap

nairobi, kenya, streets

 The amount of credit lent to Small and Medium-sized Enterprises (SMEs) by financial institutions rose by 7 per cent in the last one month, even as the economy adjusts to the repeal of the interest rates cap late last year. This is according to National treasury adviser Geoffrey Mwau who says the improvement is expected to continue throughout the year. “From the numbers that we are seeing there is an improvement in credit to the SMEs, according to data from last month the improvement is up to 7 per cent,”…

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