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 …
Read More »Company loses appeal to block URA from accessing its financial records
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 …
Read More »Africa’s fashion industry eyes a US$69 billion market
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, …
Read More »BOU: Uganda financial sector robust, to survive World Bank blacklist
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 …
Read More »What next for cryptocurrency bill after government declines to give it a green light
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 …
Read More »Mining sector blues
Experts want the government to offer incentives to bolster the sector’s growth Kampala, Uganda | JULIUS BUSINGE | Private sector players have called on the government to offer incentives to players in the mining sector to bolster its growth and create opportunities. Frank Mugyenyi, Founder of Global Minerals Africa Development …
Read More »Museveni urges Ugandans living in the diaspora to invest back home
Toronto, Canada | THE INDEPENDENT | President Yoweri Kaguta Museveni has urged Ugandans living in the diaspora to utilize the available opportunities and invest back at home. Museveni made the call while closing the second annual edition of the 2023 Canada National Resistance Movement (NRM) Chapter Symposium in a virtual …
Read More »William Sekabembe retires from dfcu
Kampala, Uganda | THE INDEPENDENT | dfcu’s executive director William Sekabembe will leave the Bank at the end of August after serving in different capacities for 11 years. The Board of dfcu hereby announces the early retirement from the Bank of its executive director,” the notice signed by Angellina Namakula Ofwono, …
Read More »MTN MoMo mulls plan to fund agents, merchants
The company’s agents have declined by 5.5% to 162,000 as it continued to execute its agent rationalisation strategy geared towards sustainable growth Kampala, Uganda | PATRICIA AKANKWATSA | MTN Uganda’s subsidiary, MTN Mobile Money Uganda Ltd, plans to partner with financial institutions to extend credit to MTN Mobile agents and merchants …
Read More »Airtel Uganda to offer 20% stake through IPO
The company will give more preference to Ugandan investors Kampala, Uganda | PATRICIA AKANKWATSA | Airtel Uganda plans to float a 20% stake in the company, equivalent to 8 billion ordinary shares, via an initial public offer (IPO) to be listed on the Uganda Securities Exchange (USE). The operator said that …
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