Business

Kampala, Uganda | THE INDEPENDENT | The Uganda Revenue Authority-URA has revealed that Value Added Tax (VAT) of more than sh40 billion has not been remitted by different retail businesses since the electronic fiscal receipt invoicing system -EFRIS system was instituted. In the bid to maximize tax mobilization in the …

Kampala, Uganda | THE INDEPENDENT | Afriland First Bank Uganda will go into Uganda’s history books as the first commercial bank to voluntarily close shop and quit the market. The move by the shareholders of the bank also makes it the shortest journey of a business entity in Uganda’s banking …

Jinja, Uganda | THE INDEPENDENT | Police in Kiira region, is investigating circumstances under which fire gutted the supplies department at Kakira sugar works limited, in Kakira town council in Jinja District. The fire emitted heavy flames which spilled over to surround the whole supplies department building at around 9.00Pm, …

London, UK | THE INDEPENDENT | Tullow Oil says it will continue operations in Africa despite plans by other operators to shift from the continent. The Anglo-Irish Oil and gas operator has over 30 licenses across eight countries in Africa and South America. It was once the lead investor in …

Kinshasa, DRC | THE INDEPENDENT | The government of the Democratic Republic of Congo (DRC) has suspended all Rwanda Air flights from Kigali, after accusing the Rwanda Government of supporting M23 rebels. “In view of the Rwanda‘s support for the M23 terrorists, it has been decided to immediately suspend Rwandair flights …

Cellulant processes $300,000 worth of payments daily in Uganda and facilitates $1b in transaction volume every month across different payment channels in Africa. Kampala, Uganda | THE INDEPENDENT | Cellulant, Africa’s leading payments company, won the Award for Excellence in Embedded Fintech at the 7th edition of the Africa Fintech …

Kampala, Uganda | THE INDEPENDENT | Airtel Uganda in partnership with K2 Telcom has announced the enhancement of the network services with the aim of boosting customers’ experience and expanding the reach of the partnership. This was revealed at a press briefing held today at Bulange in Mengo May 26, 2022. …

Kampala, Uganda | THE INDEPENDENT | African coffee-producing countries have gathered in Nairobi to chart ways of improving the continent’s coffee sector and cushion it from global shocks. These include the effects of pandemics, trade barriers, and market dynamics like unfair taxes and trade restrictions among others. The first G25 Coffee …

Kampala, Uganda | THE INDEPENDENT | The United States Agency for International Development-(USAID) has raised concern over corruption in the country, saying that if the vice isn’t fought, the long anticipated oil money may not benefit the country. Richard Nelson, the USAID Country Director told a meeting organized by the Inspectorate …

Kampala, Uganda | THE INDEPENDENT | Lawmakers on Commissions, Statutory Authorities and State Enterprises – COSASE were on Thursday morning left upset after the Minister of Finance, Planning and Economic Development Matia Kasaija failed to appear before them for the second time, without giving any reason. Led by Joel Ssenyonyi, the …