Business

Mukono, Uganda | THE INDEPENDENT | Mukono Municipal Council authorities have resorted to security to recover the funds disbursed under the Youth Livelihood Project (YLP) and Uganda Women Empowerment Programme (UWEP). The Municipal Council received over Shillings 1.3 billion, which was distributed to different beneficiary groups as part of these …

As Safaricom launches M-PESA in Ethiopia with plans to mirror its huge success in Kenya, a battle with an incumbent looms large. SPECIAL REPORT | BIRD AGENCY | Safaricom’s activation of M-Pesa in Ethiopia, will initiate battle for a potentially huge mobile money market. But for once, the regional giant …

Masindi, Uganda | THE INDEPENDENT | Kinyara Sugar Limited lost 6.8 billion Shillings to fires that gutted sugarcane plantations in their areas of operations last season. Records at Kinyara Sugar Limited indicate that the sugar company lost 1,700 hectares of sugar cane plantations to fires during the season. These majorly affected …

Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda is due to launch new measures to enhance the security of online and mobile transactions as the financial technology industry grows. The financial sector is enjoying much faster growth than in years prior to the last decade boosted by digital innovations, …

Kampala, Uganda | THE INDEPENDENT  | Patrick Ayota has been named the new National Social Security Fund (NSSF) managing director, to take over from Richard Byarugaba whose contract was not renewed. “We are pleased to inform NSSF members, stakeholders and the public that the Minister of Gender, Labour, and social …

Kampala, Uganda | THE INDEPENDENT | Telecommunications company Roke Telkom and GX India, a globally renowned networks solutions firm in India, have announced a partnership that will revolutionize internet usage in Uganda, by bringing affordable Gigabit Passive Optical Network (GPON) products to Uganda, further enhancing the internet experience of customers. The …

Addis Ababa, Ethiopia | Xinhua |  Ethiopia’s first private telecom firm Safaricom Ethiopia has officially introduced its mobile financial service, M-Pesa, three months after the telecom company received the payment instrument issuer license from the National Bank of Ethiopia. In preparation for the launch, M-Pesa has undergone a rigorous three-month …

Nairobi, Kenya | THE INDEPENDENT | Equity Group Foundation (EGF) Executive Chairman Dr. James Mwangi has commissioned the airlift of 98 scholars who have secured admission and scholarships to join 52 global universities located in 18 countries. The scholars are drawn from the Equity Leaders Programs in four countries – Kenya …

Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda has clarified that the proposed replacement of the 1000 Shilling currency note with a coin will not affect its operation or legality when the coin is introduced. Rather, the two will continue being legal tender after the printing of the …

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 …