Business

San Francisco, US | Xinhua | The U.S. government would not bail out Silicon Valley Bank (SVB), Treasury Secretary Janet Yellen said on Sunday as systemic “contagion” worries spread across the venture capital and technology industries. “Let me be clear that during the financial crisis, there were investors and owners …

Kampala, Uganda | THE INDEPENDENT | British American Tobacco Uganda has recorded a 6% increase in revenues to Shs 99.5bn for the year ended Dece.31, 2022, but the profit after tax declined marginally to Shs 9.9bn. The cigarettes distributor said the 4% decline in profit after tax was attributed to a …

Mbarara, Uganda | THE INDEPENDENT | Smirnoff – a product of Uganda Breweries Limited – has announced a new date for the Mbarara Smirnoff Fiesta, which is the 13th of May at University Inn. The Fiestas are countrywide experiences through which Smirnoff curates full brand immersions that tap into pop …

Kampala, Uganda | THE INDEPENDENT | MTN Uganda has proposed to pay a final dividend of Shs 123bn or Shs 5.5 per share to shareholders following double-digit growth in profits for 2022. The annual financial results show that the Uganda Securities Exchange-listed firm recorded a 19.3% growth in profit after tax …

Kampala, Uganda | THE INDEPENDENT | The Reserve Bank of Malawi has awarded a licence to Centenary Group and the Catholic Church Archdiocese of Lilongwe to carry out banking operations in Malawi. The name of the new bank is Centenary Bank Limited, with Centenary Group holding majority shareholding and the Catholic …

Algiers, Algeria | THE INDEPENDENT & URN | Algeria’s leader Abdelmadjid Tebboune has held talks with Uganda’s President Yoweri Museveni, who is on a three day visit to the north African country. The talks are said to have covered several areas of mutual interest, as Algeria reportedly plans to spend $1 …

Kampala, Uganda | THE INDEPENDENT | The Buganda Kingdom and Airtel Uganda unveiled the much sought-after 2023 Kabaka Birthday Run. The Katikiro of Buganda Kingdom Owek. Charles Peter Mayiga who presided over the launch of the 10th edition at Bulange, Mengo on Thursday morning said proceeds from the run would help …

Kampala, Uganda | THE INDEPENDENT | Airtel Money and Pesapal Uganda signed a deal to enable acceptance of Airtel Money payments at the Pesapal Sabi point-of-sale machines. Since its inception in 2009, Pesapal continues to innovate digital payment solutions to accommodate the changing times and the demands of its customers as …

Kampala, Uganda | THE INDEPENDENT | MTN Uganda launched its latest offer, Freedom Voice Bundles as part of its ongoing “Together We Are Unstoppable” campaign. As a brand that prioritises its customers, MTN understands the importance of giving customers the freedom to connect with their loved ones and business partners without …

Long clichéd as a no-rush continent, Africa is turning into a fledging market for luxury timepieces on the back of rising consumer spending on luxury goods and the investment opportunity associated with pre-owned top-brand watches Johannesburg, South Africa | BIRD AGENCY | From “no rush” to “time is precious”, a …