Business

Kalangala, Uganda | THE INDEPENDENT | Novat Mukajanga Baliremwa, a marine engineering specialist, has emphasized the importance of conducting regular safety drills for operators of public water transport vessels. His call comes in response to a recent incident involving MV Nodl, which caused panic among nearly 100 passengers traveling on …

But directors have recommended a dividend of Shs2.5 per share payable in September this year which is higher than Shs2 per share paid last year. Kampala, Uganda | JULIUS BUSINGE | Pharmaceutical manufacturing company Cipla Quality Chemical Industries Limited has reported a 21% decline in profit after tax from Shs24bn in …

Kampala, Uganda | THE INDEPENDENT | Civil society organisations in Uganda have warned that the 2023/24 national budget will not be achieved and neither does it respond to the current needs of the country. The parliament has approved a budget worth 52 trillion Shillings, which is bigger than the outgoing …

Kampala, Uganda | JULIUS BUSGINGE  | The National Social Security Fund has earned a total of Shs31.5billion as dividends for the year ended December 31, 2022, from its investment in MTN Uganda. NSSF Uganda, East Africa’s largest national savings fund by value, invested Shs360 billion in December 2021 to acquire …

Mbale, Uganda | THE INDEPENDENT | In today’s rapidly evolving job market, there can be certain success in equipping young people with appropriate practical skills that enable them to earn a decent living beyond formal employment. Many youth face barriers and limitations that diminish their employment prospects. According to the …

NEWS ANALYSIS  | THE INDEPENDENT | The Biden administration has ratcheted up protectionism and industrial policy amid surging economic tensions with China. Legislation passed in 2022 unlocked hundreds of billions of dollars in subsidies to spur domestic production of renewable energy and electric vehicles, and to support other decarbonisation goals. The …

Kampala, Uganda | THE INDEPENDENT | Sugarcane farmers in Busoga can now access up to Shs100 million in unsecured farmer loans repayable within two years at an interest rate of 2% per month courtesy of a new partnership between Stanbic Bank, Kakira sugar works, and Busoga Sugarcane Growers Association. Dubbed the …

Buvuma, Uganda | THE INDEPENDENT | A new ferry on Lake Victoria has been launched. MV Palm-Uganda’ will ply the route on Lake Victoria from Kiyindi landing site in Buikwe district to Kirongo in Buvuma District. The four-engine ferry was designed and built by Songoro Marine Transport Limited in Mwanza, Tanzania. …

Kampala, Uganda | THE INDEPENDENT | United Bank for Africa (UBA) Group plans to invest in women and youth initiatives across Africa to aid their growth. During the virtual celebration of Africa Day under the theme “Innovating the Continent for growth”, UBA Group Managing Director, Oliver Alawuba said the bank is …

Kampala, Uganda | THE INDEPENDENT | Carrefour, owned and operated by Majid Al Futtaim in Uganda has reduced its redemption threshold for its MyCLUB loyalty programme from 100,000 points to 10,000 points, enabling customers to enjoy their reward benefits sooner. In addition, MyCLUB members can gain access to exclusive MyCLUB discounts …