Business

Kampala, Uganda | THE INDEPENDENT | Mobile phone-based payments for goods and services in Uganda remain low relative to subscriber numbers, a situation service providers say must be tackled to drive the cashless economy. While the country boasts more than 30 million mobile phone subscriptions, just about 20 million subscribe to …

Ibanda, Uganda | THE INDEPENDENT | The recent fall in the prices of vanilla has frustrated farmers in Ibanda district, many of them fearing that they may not be able to recoup their investment. A kilogram of vanilla was valued at 550,000 Shillings in the pre-COVID-19 period.  However, this value …

Kampala, Uganda | THE INDEPENDENT | The National Social Security Fund has established a partnership with the Ministry of Energy and Mineral Development to enhance social security compliance within energy, oil, and gas. The partnership is in line with the Fund’s new strategic approach that focuses on increasing social security coverage …

Kampala, Uganda | THE INDEPENDENT | MTN Uganda’s corporate social responsibility arm, MTN Foundation, has recognized 15 prospective entrepreneurs following completion of the three-month Business Incubation phase. Business Incubation is the second phase of the MTN Ace Skilling Program aimed at extending mentorship and support to entrepreneurs to deliver public good …

Bank’s customers will be provided with convenient access to fast, affordable, and quality air and ground evacuation services in the event of medical emergencies Kampala, Uganda | RONALD MUSOKE | The Kenyan subsidiary of the pan-African financial institution, Ecobank, has entered into a partnership with the African Medical and Research Foundation …

But loans and advances to customers reduced by 16% Kampala, Uganda | THE INDEPENDENT | dfcu Bank has reported a 56% improvement in net profit to Shs29.3bn in the first six months to June.30 driven by a reduction in loan impairment. The lender’s financial results released on Aug.24 show continuous growth …

Net operating cash flow increased by 18% to Shs221 billion supported by cash collections, operating profits, optimised working capital, and financing costs during the period Kampala, Uganda | THE INDEPENDENT | Electricity distributor, Umeme has reported a 20% increase in revenue to Shs1tn for the six months of the year ending …

Kampala, Uganda | THE INDEPENDENT | Prudential Uganda announced a $30,000 donation to Mulago National Referral Hospital of essential medical supplies such as safety boxes for syringes, heavy-duty aprons, and sterile and examination gloves. The donation, which is part of the Prudential Post COVID Recovery Funds initiative, is a significant step …

Kampala, Uganda | THE INDEPENDENT | The Ministry of Tourism, Wildlife, and Antiquities has announced a significant rise in the number of Ugandans engaging in local tourism over the past two years. Martin Mugarra, the State Minister for Tourism, revealed that the count of Ugandan nationals visiting various domestic tourist …

The Fund targets to increase contributors from the current 10% to 50% of the country’s workforce during the same period Kampala, Uganda | JULIUS BUSINGE | National Social Security Fund hopes to increase its assets from the current Shs 18.4 trillion to Shs 50 trillion by 2035, according to the Fund’s …