Business

Kampala, Uganda | THE INDEPENDENT | dfcu Bank has recorded a robust 45% increase in net profit to Shs 42 billion for the first half of 2024, buoyed by significant reductions in credit losses and strategic cost management. This marks a substantial rise from Shs 29 billion in the same period …

What African cities might learn from Hong Kong’s unique land-lease system ANALYSIS | ASTRID R.N. HAAS | Land prices across many African cities are soaring. This is because land is a city’s key asset. As urbanisation progresses, demand for land will rise, and therefore so will land prices, because the supply of land in …

However, progress on the $4.5 billion refinery remains limited Kampala, Uganda | JULIUS BUSINGE | Uganda’s oil sector is advancing significantly with 72 out of 457 wells drilled at the Tilenga and Kingfisher oil projects as TotalEnergies and CNOOC Uganda Limited push towards commercial production slated for 2025. Energy and Mineral …

Kampala, Uganda | THE INDEPENDENT | A new insurance campaign dubbed “There’s Living, and There’s Living Free” campaign has been launched today in Kampala by Jubilee Holdings to equip individuals with the knowledge to make informed decisions that promote wealth growth and financial goals. Jubilee Life Insurance Chief Executive Officer Sumit …

The electricity distributor recorded 1.61% decline in profit after tax to Shs 12.99 billion for H1, 2024 Kampala, Uganda | THE INDEPENDENT | Uganda’s electricity distributor, Umeme Limited, has reported a slight decline in profit after tax for the first half of 2024, with earnings down by 1.61% to Shs 12.99 …

Gulu, Uganda | THE INDEPENDENT |  The excitement was palpable as lottery winners visited ITHUBA Uganda’s regional offices in Gulu and Mbale to validate and claim their Uganda LOTTO winnings at the weekend. “I was introduced to the lotto by a friend who had previously won. I never gave up hope, …

Kampala, Uganda | THE INDEPENDENT | Despite a presidential directive to charge manufacturers $5 per unit of electricity consumed, industrialists are advised to remain patient, as the subsidy is still hindered by technical challenges years after the directive was issued. The directive, which is intended to reduce operational costs for …

Kampala, Uganda | THE INDEPENDENT | For the first time since 2013, KQ has reported a profit before tax. This achievement marks a major turnaround for the airline, in line with the strategic recovery plan launched in 2021, executives said on Aug.19 in a notice. In the six months to 30 …

NAIROBI, KENYA | Xinhua | From Uganda to Egypt, and from Senegal to Nigeria, Chinese-operated industrial parks and zones are thriving across Africa, helping the continent better integrate into the global production chain and promote new African brands. Driven by the China-proposed Belt and Road Initiative (BRI), China’s involvement in …

ANALYSIS | THE INDEPENDENT | Africa’s multilateral lender, African Export Import Bank, has recorded a significant 24.5% increase in net interest income for the first half of 2024, reaching $826.2 million driven by increase in loans and advances. The Bank also recorded a surge in fees and commission income that increased …