Business

  Luwero, Uganda | THE INDEPENDENT | Uganda Baati Limited has opened a new showroom in Luwero District. Officials have said the expansion marks the company’s 14th showroom nationwide and reinforces its commitment to providing accessible, high-quality products and services to customers nationwide. Located on Plot No. 793 Gulu Road, …

KAMPALA, Uganda | Xinhua | Uganda’s central bank said it is in consultation to begin purchasing locally-produced gold to bolster its foreign reserves and tackle challenges in international financial markets. The Bank of Uganda (BoU) in its State of the Economy report issued Thursday said the domestic gold purchase program …

MOSCOW, RUSSIA | TASS | Growth of world oil demand is forecast to average just below 1 mln barrels per day in 2024 and 2025, as subpar economic growth, greater efficiencies and vehicle electrification act as headwinds, the International Energy Agency (IEA) said in its July report. Consequently, the estimate …

Kampala, Uganda | THE INDEPENDENT | Coca-Cola Beverages is reaping from setting up Africa’s fastest plastic bottle production line in its East Africa operations. It has a capacity of 67,000 bottles per hour and equipped with state-of-the-art technology such as robotic arms and automated fillers and is now driving efficiency …

Kampala, Uganda | THE INDEPENDENT | Ecobank Uganda has unveiled the “KUBA DABO DABO” consumer banking promotion, which is “Double Your Benefits” initiative. This innovative initiative offers comprehensive financial solutions to empower customers and fuel their financial growth. Customers applying for a Personal Loan can also get a Salary Advance …

Merchants in landlocked countries face the highest container deposit rates, typically around US$5,000 per container, due to extended turnaround times ANALYSIS | ISAAC KHISA | Africa’s multi-lateral lender, the African Export-Import Bank, has forged a partnership with BSMART Technology Ltd to extend the Afreximbank African Collaborative Transit Guarantee Scheme (AACTGS) to …

  Kampala, Uganda | THE INDEPENDENT | Letshego Africa Holdings has affirmed that the Group has not defaulted nor failed to service any of its obligations in its subsidiaries. “We confirm that claims of default on the part of Letshego Kenya and Uganda are false and incorrect,” it said in …

Illicit cigarettes remains a big headache the tobacco distributor in Uganda Kampala Uganda | JULIUS BUSINGE | Shareholders of British American Tobacco Uganda Limited will receive Shs 8.9 billion as dividend, equivalent to Shs 181 per ordinary share, following approval at the 24th Annual General Meeting held at Sheraton Kampala Hotel. …

This the largest dividend the fund has earned from a listed company in the region this year Kampala, Uganda | THE INDEPENDENT | Uganda’s National Social Security Fund (NSSF) has accrued Shs 80.6 billion from its investment in telecom firm, MTN Uganda, over the past three years. This follows the latest …

Afreximbank and ITC will develop detailed profiles of sectors in both regions to map out promising value chains and identify growth barriers and requirements ANALYSIS | THE INDEPENDENT | Trade between Africa and the Caribbean could soar to $1.8 billion annually by 2028, provided that value addition, trade facilitation, and enhanced …