Business

Kampala, Uganda | THE INDEPENDENT & URN | Bank of Uganda (BOU) has stated that foreign banks lending deposits held in jurisdictions other than Uganda are regulated and supervised by their home authorities, and it is not mandatory for a foreign bank to establish a representative office in Uganda in …

Kampala, Uganda |  THE INDEPENDENT |   Civil Society Activists Campaigning against commercialized politics say that the will of the people to vote for useful leaders has been distorted by too much money being used by those aspiring for office. The activists called for action against the growing political commerce during …

Kampala, Uganda |  THE INDEPENDENT |   The Ministry of Finance is seeking to add another 390 billion Shillings to the supplementary request of 3.426 trillion Shillings currently before the Parliamentary committee. The request puts the supplementary budget at 3.853 trillion Shillings.   The first supplementary is to finance a classified budget …

Kampala, Uganda |  THE INDEPENDENT |   Hostel Owners around Kyambogo University have opposed the University demand of carrying forward hostel fees of Semester two to cater for the remaining period on re-opening this week. According to Elli Katunguka the Vice Chancellor Kyambogo University, the management negotiated with some hostel owners …

Uganda Securities Exchange tells manufacturers recovering from COVID-19 pandemic stress Kampala, Uganda | JULIUS  BUSINGE | As manufacturers weather the tough times caused by COVID-19 lockdown and related restrictions, executives at the Uganda Securities Exchange say, doors are open for raising capital to reboot business activities. Speaking on behalf of …

The South African telecom firm plans to refocus on Africa and mobile money | THE INDEPENDENT | MTN Group’s new CEO Ralph Mupita is expected to manage by capitalising on technological growth and demographic dividends within Africa to cement its position as the continent’s largest telecom services provider. He comes …

Entebbe, Uganda |  THE INDEPENDENT |   More than 50 passengers have so far missed their flights for showing up at Entebbe International Airport with invalid COVID19 negative test certificates. All travellers going through the airport are required to present a negative PCR COVID-19 test certificate issued within 120 hours before …

Currently, the regional insurers commands the largest market share in Uganda’s general insurance business Kampala, Uganda | ISAAC KHISA | Regional insurer, Jubilee Holdings Ltd, is selling between 51% and 66% stake of its operating subsidiaries engaged in short term general insurance business across the region to the Munich-based Allianz …

Ntoroko, Uganda |  THE INDEPENDENT |   More than 7,000 people displaced by floods resulting from the rising Lake Albert water levels in Ntoroko district want the government to resettle them to safer places. Flooding in the district is a perennial problem. However, it escalated at the start of this year …

    COMMENT | Hillary Turyatunga | Uganda’s efforts to join the Extractives Industries Transparency Initiative (EITI) that were first expressed in the 2008 National Oil and gas policy recently saw Uganda joining the initiative, making it the 54th country in the world and 26th in Africa to subscribe. EITI is a …