Business

Regulators on the continent are developing frameworks that allow customers of traditional banks to engage with third-party service providers via their banking apps – blowing open a multi-billion dollar market. Abuja, Nigeria  | BIRD AGENCY  |  Nigeria in March became the first African country to launch open banking on the …

SPECIAL FEATURE | THE INDEPENDENT |  Quarterly Review of the Performance of Uganda’s Financial Markets, with Catherine Kijjagulwe, Head of Trading at Absa Bank Uganda. ****** QUESTION: How did the shilling open 2023? The currency opened the year trading at the 3715/3725 levels at the beginning of January 2023. QN: What were …

Ethiopian Airlines, Ethiopia’s national flag carrier, is celebrating the 50th year of the commencement of its service to China. Addis Ababa, Ethiopia | Xinhua | Ethiopia’s national flag carrier, Ethiopian Airlines, on Friday said it is celebrating the 50th year of the commencement of its service to China. The airline said …

International visitor arrivals increase by 59% during the year Kampala, Uganda | JULIUS BUSINGE | Uganda recorded a 59% increase in international visitor arrivals to 814,508 in 2022 signalling a recovering tourism sector from the effects of the coronavirus pandemic. The report released by the Ministry of Tourism Wildlife and Antiquities …

Kampala, Uganda | THE INDEPENDENT | Uganda Breweries Limited is the overall winner for Prudential HR Awards for 2022. Prudential Uganda in partnership with PwC recently launched the second edition of the Prudential Best HR Practices survey report indicating a total of 3000 employees taking part. The 2022 survey is the …

More than 50,000 employers have been given a 30-day deadline to pay contributions Kampala, Uganda | JULIUS BUSINGE | Uganda’s employers irrespective of the number of workers employed have only 30 days to register with the National Social Security Fund (NSSF) and remit social security contributions for their employees. NSSF acting …

Rome, Italy | Xinhua | As Italy’s wine sector slowly recovers from the COVID-19 pandemic and the conflict in Ukraine, higher-end wines are out-performing the rest of the sector, industry experts say. While France remains the world leader in terms of the overall value of wine production, last year Italy was …

The electricity distributor’s assets are to be handed over to the government in 2025 Kampala, Uganda | THE INDEPENDENT | A surge in customer base, efficiency in revenue collection and a reduction in energy losses helped the electricity distributor, Umeme to record a 6.5% growth in profit after tax for the …

Kampala, Uganda | THE INDEPENDENT | Uganda has got another player in the aviation industry after the Uganda Civil Aviation Authority (UCAA) licensed Khartoum based BADR Airlines to operate the Entebbe-Juba-Khartoum route. The company made its maiden landing to Entebbe on Friday at 2:30pm. It will operate one flight every week …

Kampala, Uganda | THE INDEPENDENT | The Commissioner General of Prisons Dr. Johnson Byabashaija has warned prison officers against acquiring expensive loans from lending institutions. Byabashaija said that he has been informed that some of the prison officers are leaving loans provided by the prison SACCO which are at an …