Business

KAMPALA, Uganda | Xinhua | Uganda said Wednesday that its first shipment of oil has docked at the Kenyan seaport of Mombasa as Kampala moves away from importing the critical commodity through third parties. Uganda National Oil Company (UNOC), a state-run oil agency, said in a post on X, formerly …

Luwero, Uganda | THE INDEPENDENT | Minister of State for Kampala Capital City and Metropolitan Affairs Joseph Kyofa Kabuye has hailed Equity Bank for supplementing government’s drive to boost wealth creation in the Luwero region. Kyofa Kabuye acknowledged  government’s efforts in creating a conducive environment for entrepreneurship, that Equity Bank is using …

Kampala, Uganda | THE INDEPENDENT | Ibrahim Kato is PostBank Uganda Limited’s new Chief Retail Officer. According to a statement from the bank, Kato will be responsible for the formation and execution of the bank’s business growth strategy across distribution channels, fintech business, aales, and bancassurance. “Ibrahim currently oversees the bank’s retail …

ANALYSIS | THE INDEPENDENT | Africa’s multilateral lender, African Export-Import Bank, has entered into a Memorandum of Understanding (MoU) with the Caribbean Export Development Agency (CEDA) to formalise collaboration between the two institutions and provide a platform for exploring joint activities to support trade and investment flows between Africa and the …

Kampala, Uganda | THE INDEPENDENT | The World Bank has advised the government to focus on budget discipline this financial year  if the fiscal policies are to benefit the citizens and the nation as a whole. The financial year2023/2024 was characterized not only what has been termed non-prioritized spending, but …

Kampala, Uganda | THE INEDEPENDENT |  In 2019, French supermarket giant Carrefour agreed with Shoprite Checkers Uganda Limited to take over its Shoprite franchise in the country. This strategic move has since positioned Carrefour as a leading player in Uganda’s retail market, capitalizing on a stable economy and a growing …

  Kampala, Uganda | THE INDEPENDENT | A network of Official Coca-Cola Distributors (OCCDs) have been hailed for helping to ensure that Coca-Cola products reach Ugandans efficiently in every corner of the country. Abebe Melkamu, the General Manager at CCBU, a subsidiary of Coca-Cola Beverages Africa said on July 1, …

The government need to invest more resources in education, health, and social protection to benefit from the demographic dividend Kampala, Uganda | ISAAC KHISA | The World Bank has projected Uganda’s economy to grow faster by 6.2% in FY24/25, accelerating to 7% in the medium term, driven by investments in oil …

However, delays in project execution, limited resources, red tape in contract approvals remains big concerns Kampala, Uganda | JULIUS BUSINGE | Uganda’s private sector has welcomed the government’s decision to significantly increase the budget allocation for the mineral development and oil and gas sub-sectors but has voiced concerns over implementation. In …

Kampala, Uganda | THE INDEPENDENT | Headline inflation for June 2024 of 3.9 percent compared to the 3.6 percent registered in the year ended May 2024. The high inflation has resulted into the increase in prices of tilapia fish, dry soap, and chicken according to the Uganda Bureau of Statistics (UBOS) …