Business

London, UK | Xinhua | The Bank of England (BoE) has raised its benchmark interest rate by 0.25 percentage points to 4.25 percent, the highest since autumn 2008, according to a BoE statement issued on Thursday. At its meeting ending on Wednesday, the central bank’s Monetary Policy Committee (MPC) voted …

Kamwenge, Uganda | THE INDEPENDENT | Kamwenge District Veterinary Department has ordered the temporary closure of all livestock markets in the district to curb the spread of Foot and Mouth Disease-FMD to the area. The District Veterinary Officer, Dr. Paul Mbago told URN that the decision follows the outbreak of …

Sironko, Uganda | THE INDEPENDENT |  Unidentified gunmen riding on numberless motorcycles have raided Namaguli and Bunyafwa sub-counties and made away with sh76.2 million from  local businessmen. According to Sironko Resident District Commissioner, Denis Ephraim, the gunmen who were also armed with sticks and machetes raided the residence of local businessman Mike …

SVB had around 90% of its accounts with more than $250,000 in deposits, which is “higher than your typical bank Kampala, Uganda | THE INDEPENDENT | Silicon Valley Bank is now known as the biggest U.S. bank failure since 2008. Before becoming known globally for its chaotic collapse, SVB was well-regarded …

Kampala, Uganda | THE INDEPENDENT | Airtel Uganda and TECNO Mobile, an innovative technology brand have unveiled the latest 4G device, the TECNO Spark 10 series in Uganda. With the Slogan ‘Glow As You Are’, the Spark 10, a 4G device is designed to empower users to express themselves and shine …

Kampala, Uganda | THE INDEPENDENT | The Institute of Certified Public Accountants of Uganda (ICPAU) held the 13th graduation ceremony in which graduands were awarded with qualifications in the areas of Certified Public Accountants of Uganda, Certified Tax Advisor and Accounting Technicians Diploma courses. The graduands completed their studies between 2020 …

Kampala, Uganda | THE INDEPENDENT | Stanbic Bank has continued to dominate the insurance sector with a market share of 19.38% in 2022, generating total Gross Written Premiums of Shs27.6 billion out of the industry figure of Shs143bn. At one percent, insurance penetration in Uganda remains low, but products like …

  Kigali, Rwanda | XINHUA | The 11th Joint Permanent Commission between Rwanda and Uganda on Wednesday met in Kigali, Rwanda’s capital, aimed at discussing areas of cooperation between the two neighboring countries, the first such forum since the normalization of relations. The three-day meeting signaled that both sides are committed …

A technical working group to be formed to battle the vice that cost government billions of shillings Kampala, Uganda | JULIUS BUSINGE | Government of Uganda and the private sector have revealed plans to form a technical working group to fight illicit trade. It is estimated that the government lost …

Up to 74% of government-aided schools are owned by non-state actors like communities and faith-based organizations – the Catholic Church and Church of Uganda, and Muslim Supreme Council Kampala, Uganda | THE INDEPENDENT | The government has asked all foundation bodies that own primary and secondary schools, to implement a …