Business

Equity bank amplifies Watoto golf tournament with Sh10 million sponsorship Kampala Uganda | THE INDEPENDENT |  Equity Bank Uganda Limited has extended its support worth sh10 million towards the Watoto Golf Tournament set for Saturday, August 10th 2024, at the Uganda Golf Club. Organised by Watoto Church Uganda, the tournament is …

Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda has reduced is base interest rate for the first time since April this year, from 10.25 to 10 percent as inflation seems tamed. BoU’s policy targets an inflation rate of not more than 5 percent in the medium term, and in …

Sub-Saharan Africa is experiencing a renewed focus, with infrastructure projects receiving a significant boost ANALYSIS | FELIX THOMPSON | There was a rebound in export credit agency activity in Sub-Saharan Africa last year, as agencies struck big-ticket deals across infrastructure and renewable energy sectors, fresh data shows. In its annual State …

Kampala, Uganda | THE INDEPENDENT | Absa Bank Uganda has handed over sh300 million proceeds from the 2024 Absa 7 Hills Run, an annual charity event organised in partnership with the Kampala Hash House Harriers (KH3) to raise funds to keep the girl child in school. Research shows that an …

Kampala, Uganda | THE INDEPENDENT | British American Tobacco Uganda Limited has registered a 21.6% increase in net profit from Shs3.7bn to Shs4.5bn for the first six months of 2024, further showing the company’s continued growth trajectory. The company executives said on Aug.2 that the macro-economic landscape was relatively stable …

Maintaining and servicing ATMs in remote or low-traffic areas is becoming less cost-effective for banks ANALYSIS | AGENCIES | Absa, Standard Bank, and FNB have been closing ATMs over the last five years, while Capitec has significantly increased its ATM footprint. Banks in South Africa are closing ATMs due to a …

Kampala, Uganda | THE INDEPENDENT | Uganda Development Bank’s investments resulted into the creation of more than 400 additional jobs, bringing the total to 51,841 last year, underscoring the lender’s contribution towards transforming people’s lives. According to UDB’s latest Development Impact Report, titled “Transforming Lives: The Role of UDB in Driving …

EAC-CET was established to protect the common interests of various partner states by safeguarding specific sectors, and the lack of uniform application Kampala, Uganda | THE INDEPENDENT | Import costs in the East African Community states are expected to remain high under the newly implemented Common External Tariff (CET) as countries …

  Kampala, Uganda | THE INDEPENDENT | The Uganda Investment Authority (UIA) has unveiled a groundbreaking initiative to encourage traders in Kampala’s business hub, popularly known as Kikuubo, to transition from trading in imported products to manufacturing them locally. The “Transitioning Kikuubo Traders to Manufacturing” initiative” is hinged on the spirit …

Kampala, Uganda | THE INDEPENDENT | The Uganda Development Bank last year lent out more than 600 billion shillings to different projects on top of other non-financing activities, aimed at creating positive impact on the social, economic progress of the country. In measuring how successful their plans were, the Bank annually …