Business

The UMEME buyout isn’t just a transaction. It’s a test. Of vision. Of sovereignty. Of whether we believe in our people enough to let them own the infrastructure they depend on. COMMENT | APOLLO BUREGYEYA | The government wants to re-acquire UMEME. Price tag: UGX 700 billion. Financing plan? A …

However, critics have raised concerns about the government’s capacity to manage the distribution network efficiently Kampala, Uganda | THE INDEPENDENT | In a significant move that marks the end of an era, the Ugandan Parliament has approved a $190 million buyout of Umeme Limited’s concession, effectively paving the way for the …

Financial literacy and business growth: Key Lessons from Equity Bank’s ‘Abakyala ku Ntiiko’ Iganga Iganga, Uganda | THE INDEPENDENT | In a significant step to empower women entrepreneurs in Eastern Uganda, Equity Bank last week engaged with hundreds of small-scale and micro-business owners in Busoga subregion. “Equity bank’s support has …

Kampala, Uganda | JULIUS BUSINGE | Nansana Municipality is set for a major infrastructure boost as Winner Global Enterprises Ltd signed contract documents for a Shs40.9 billion road construction and upgrading project under the Greater Kampala Metropolitan Area Urban Development Program (GKMA-UDP). The project, which aims to enhance road infrastructure and …

Kiryandongo, Uganda | THE INDEPENDENT | Leaders from the Bunyoro sub-region have tasked President Yoweri Kaguta Museveni to intervene and address the persistent insecurity on Lake Albert. President Museveni who is in the Bunyoro sub-region to assess the implementation and progress of the Parish Development model (PDM) met all leaders …

  Kampala, Uganda | THE INDEPENDENT | Forty five women-led enterprises have each received sh75 million in seed capital from the National Social Security Fund (NSSF) Hi-Innovator program. This latest cohort brings the total number of program beneficiaries to 437 businesses. The initiative, worth up to $10 million, is co-funded by …

LONDON | Xinhua | London’s Heathrow Airport remains closed until midnight Friday due to a “significant power outage” caused by a fire at a nearby electricity substation, a spokesperson said. The outage has affected the entire airport, with no clear timeline for power restoration. “To maintain the safety of our …

But the economy is expected to rebound in the subsequent year if oil exports resume, offering a potential path to recovery. Juba, South Sudan | THE INDEPENDENT | Oil rich South Sudan’s economy is projected to contract by 30% in the Financial Year 2024/25 that ends in June due to disruptions …

KAMPALA, UGANDA | THE INDEPENDENT | The Governing Council of the East African Development Bank (EADB) is mulling increased lending and corporate social investment programs to the private sector to create jobs, especially for youth and women. This was revealed during the ordinary meeting of the EADB Council held in …

INTERVIEW | South Africa has taken over the presidency of the world’s premier economic forum, the G20, from Brazil. The G20 presidency operates on a troika system made up of the current, previous and next holders. The three members cooperate with one another in preparing for an annual summit. This means …