Business

Growth in profit after tax of 98% ($163.5 million) Total Assets growth of 50% Growth in Deposits of 51% ($7.4 billion) Growth in Net Loans of 29% ($4.6billion) Nairobi, Kenya | THE INDEPENDENT |  Equity Group Holdings Plc has announced a 98% growth in half year profits to $163.5 million (Kshs.17.9 …

Stakeholder engagement with governments to support the youths should be a component of every programme | THE INDEPENDENT | Young people in sub-Saharan Africa have keen interest in agriculture especially with the use of technology but are hampered with numerous challenges including limited access to land, skills set, sustainable financing …

Oil, agriculture and BoU to determine the recovery path, executives say Kampala, Uganda | THE INDEPENDENT | Economic recovery in the coming years will largely depend on oil and gas, agriculture and Bank of Uganda’s monetary policy decisions, according to Absa Bank Uganda executives. Speaking via a recent virtual conference …

Says private sector credit growth remains subdued driven largely by low demand Kampala, Uganda | JULIUS BUSINGE | Bank of Uganda’s decision to keep the central bank rate unchanged at 6.5% in the next three months has sent a signal to the market that Covid-19 containment measures are still a …

Who are the winners and losers? ANALYSIS | THE INDEPENDENT | The second wave of COVID-19 appears to have hit the economy severely and dimmed prospects for a quick recovery, according to the latest Bank of Uganda monetary Policy Statement for August 2021. The statement is the first major economic …

Jinja, Uganda | THE INDEPENDENT | The National Drug Authority (NDA) has arrested and charged two people for allegedly Impersonating as NDA staff and three for dealing in illegal sell and smuggling of drugs. Officials of NDA also impounded assorted drugs worth shillings 130 million from private pharmacies and clinics in …

  Entebbe, Uganda | THE INDEPENDENT | National Medical Stores (NMS) plans to digitally track all patients who will receive drugs and other essential supplies at public health facilities by 2024. The plan is part of the agency’s move to digitize the supply chain to enhance transparency in the procurement, …

Kampala, Uganda | THE INDEPENDENT | Borrowers in sectors that are still experiencing heavy effects of COVID-19 and containment measures against the pandemic, will have credit relief measures extended by another 12-months, according to the Bank of Uganda. At the onset of the pandemic in Uganda last year, the local …

Kampala, Uganda | THE INDEPENDENT | The Food Rights Alliance has urged Uganda youth to focus on improving the Ugandan food system which is still lacking in the area of digital technology. As Uganda joined the rest of the world to mark the International Youth Day on August 12, Agnes Kirabo, the Executive Director …

Lloyd Jonathan Busuulwa is the head Alternative Channels at dfcu Bank. He spoke to The Independent’s Isaac Khisa about the Bank’s digital strategy and the future of banking going forward. dfcu Bank embarked on a digital transformation journey in 2017. What progress have you registered? dfcu Bank’s digital transformation journey …