Johannesburg, South Africa | THE INDEPENDENT | Absa Group reported resilient results in an increasingly challenging operating environment during the first half of 2023. Headline earnings increased 2% to R11.2 billion from a high base a year earlier, as strong revenue growth of 16% offset 60% higher credit impairments. “With …

Kampala, Uganda | THE INDEPENDENT | The Deputy Speaker, Thomas Tayebwa has urged Members of Parliament to remain calm as the government continues to engage the World Bank on funding of new projects. The World Bank Group issued  a statement on 08 August 2023 suspending new public financing to Uganda …

Washington, US | Xinhua | U.S. Secretary of State Antony Blinken said Tuesday that the United States is still “very focused on diplomacy” as the tool to solve the ongoing political crisis in Niger resulting from an attempted coup by a junta. “We remain very focused on diplomacy for achieving …

Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda has lowered the Central Bank Rate (CBR) to 9.5 percent, an indicator of its intention to bring down the cost of credit, for the first time since June 2021. The rate, which the Monetary Policy Committee uses to influence interest …

Kampala, Uganda | THE INDEPENDENT | The High Court in Kampala has dismissed an appeal in which YO! Uganda Limited, a Financial Technology company was seeking a temporary injunction restraining Uganda Revenue Authority from accessing,  reviewing or disclosing information contained in the electronic and manual records seized from the company premises …

Africa’s fashion industry is tapping an apparel market that will be worth US$69 billion in 2023, driven by a surge in women’s spending power, innovative design scene and production efficiency in textiles. SPECIAL REPORT  | BIRD AGENCY | Africa’s bright and dynamic fashion industry is finding itself if the spotlight, …

Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda has assured the banking and financial industry that it will ensure its stability and the sustainability of the microeconomics of the country amidst the withdrawal of the World Bank from new loan deals. The World Bank decision communicated last week …

Lamwo, Uganda | THE INDEPENDENT | Lamwo District leaders broke ground for theconstruction of a Shillings 750 million Irrigation scheme in Madi Opei Sub-County on Monday. The Project, which is under the Development Response to Displacement Impact Project-DRDIP, being implemented by Epicenter Africa Limited, will sit on a 15-acre piece of …

Kampala, Uganda | THE INDEPENDENT | Nathan Igeme Nabeta, the Jinja East Municipality Member of Parliament has asked the Speaker of Parliament to apply the rules of the House allowing debate of the Capital Markets Authority Amendment Bill without a certificate of financial implications. The government, through the Ministry of …

Kabale, Uganda | THE INDEPENDENT | The trial of a case involving the alleged killing of an Indian businessman in Kisoro district by a police officer and five other individuals has commenced in the High Court. The case was transferred from Kisoro to Kabale on August 9, 2023, due to …