Business

Kampala, Uganda | THE INDEPENDENT | The works and transport ministry has revealed that it is not aware of illegally operating driving schools. Karim Kibuuka, the head of motor vehicle inspection section at the ministry, said their latest data shows the country has 90 licensed driving schools. Kibuuka’s response followed …

The company is eying regional markets including Kenya, Burundi, Northern Tanzania, DRC and South Sudan Kampala, Uganda | ISAAC KHISA | Uganda Clays Ltd will invest Shs 17.8billion to acquire more land with clays and boost production amidst the escalating competition in the baked clays products market. Martin Kasekende, the …

Busabala, Uganda | THE INDEPENDENT | The Government has launched the distribution of Liquified Petroleum Gas – LPG cylinders targeting one million households in a bid to promote safe and clean cooking. Launched Tuesday by Ruth Nankabirwa, the Ministry of Energy and Mineral Development in Bugo Zone, Busabala in Wakiso …

Kampala, Uganda | ISAAC KHISA | Africa’s multi-lateral lender, African Export-Import Bank has renewed its approval of a US$1 billion facility to operationalise the African Continental Free Trade Agreement Adjustment Funds. The lender also approved a Grant Funding in an amount of US$10 million to seed the Base Fund of …

Kampala, Uganda | THE INDEPENDENT | Bank of Uganda has decided to raise the Central Bank Rate by a percentage point to 8.5 percent as part of emergency measures against the spiraling inflation. This was decided at Tuesday’s emergency Monetary Policy Committee meeting called by the Central Bank Deputy Governor, Michael …

Gulu, Uganda | THE INDEPENDENT | Just four days after Gulu City council authorities launched a mass eviction of individuals conducting businesses in ungazetted spaces, normalcy appears to have returned on the major streets within the city center and the Main Market. Pedestrian walkways and pavements on major streets of …

Near-term macroeconomic outlook estimates growth at 3.7 percent in financial year 2022, which is lower than pre-COVID-19 projections of over 6 percent Kampala, Uganda | THE INDEPENDENT | New global shocks and the impacts of the Russia-Ukraine war has dampened Uganda’s economic growth prospects  amidst the waning coronavirus pandemic and …

Kasese, Uganda | THE INDEPENDENT | The Mpondwe-Lhubiriha One Border Post Market in Mpondwe town council, Kasese district has been handed over to government after completion. The over 5 billion shillings facility was funded by the World Bank through Great Lakes Trade Facilitation Project has now been handed over to …

Visibly angry UBOS boss Mukiza explains Uganda’s position Kampala, Uganda | THE INDEPENDENT | The  Uganda Bureau of Statistics-UBOS and the World Bank have disagreed on the methodology used in determining the country’s economic status. They will however release a joint statement in the next 24 hours on Uganda’s status. …

Lisbon, Portugal | Xinhua | Drinking beer is beneficial to the intestine and has the potential to prevent chronic diseases, according to a research by the Center for Research in Health Technologies and Services (CINTESIS), a non-profit research and development unit, in the city of Porto in northern Portugal. “Beer …