Business

  Kampala, Uganda | THE INDEPENDENT | Before the COVID-19 virus arrived in Uganda early last year, the tourism sector was registering a steady rise in foreign exchange from tourists. According to the Annual Tourism Sector Performance Report for Financial Year 2018/2019, revenue rose from $1.45 billion in 2017 to …

East African Breweries Ltd took a shock when Kenya closed hospitality businesses due to the pandemic | TOM COLLINS | For any business that relies on open venues to sell goods, Covid-19 has been particularly challenging. As Kenya responded to the pandemic by closing hospitality businesses and implementing a night-time …

Public debt increased by 35% to Shs65trillon as at December 2020 Kampala, Uganda | ISAAC KHISA | Government should prioritise financing human capital development programs amidst projected revenue shortfalls due to COVID-19 lockdown, experts say. Experts also say, amidst these tough times, the government should also keenly scrutinize loan proposals …

Experts, government suggest ways to easing trade among partner states Kampala, Uganda | JULIUS BUSINGE | There is a growing concern amongst the business community that the COVID-19 lockdown measures are a danger to business activities, and if not carefully eased, could make the situation worse going forward. This is …

Masaka, Uganda | THE INDEPENDENT | There is a bitter row among milk traders in Masaka city over the sharp variation in the market prices. A section of milk traders under the Masaka Milk Dealers Association have petitioned Masaka City council authorities to intervene and protect them from exploitation by unknown …

Washington, US | THE INDEPENDENT | The Executive Board of the International Monetary Fund (IMF) has approved a 36-month arrangement under the Extended Credit Facility (ECF) for Uganda in an amount equivalent to US$1 billion to support the post-COVID-19 recovery and the authorities’ plan to increase households’ incomes and inclusive growth by …

Shareholders with more than 12.5% shareholding to nominate a Director Equity Group Foundation to nominate a Director to the Board. Up to three Executive Directors to sit on the Board. Group to pay out 30% to 50% of its Profit After Tax as dividends to shareholders Nairobi, Kenya | THE …

Los Angeles, USA | XINHUA | Universal’s action film “F9: The Fast Saga” dominated North America box office with a huge 70 million U.S. dollars opening from 4,179 theaters, smashing pandemic-era weekend box office record in the region. According to studio figures collected by measurement firm Comscore, it’s the biggest …

Mayuge, Uganda | THE INDEPENDENT | Police in Mayuge district is investigating circumstances under which 10 fish ponds belonging to Mayuge Integrated Fish Farm were poisoned leading to the death of 51,000 pieces of fish valued at 350 million Shillings. The farm, owned by a group of 30 youths, had …

Stanbic defies energy transition, promises to finance oil and gas developments Kampala, Uganda | THE INDEPENDENT | Stanbic Bank says it will give capital for oil and gas developments in Uganda. The bank’s stand comes amidst growing opposition against fossil fuels including oil and gas in favor of renewable energy. …