Business

It paid Shs347bn for the 66.53% stake in a DRC bank Kampala, Uganda | ISAAC KHISA | Regional lender, Equity Group Holdings, has completed the acquisition of Banque commercial du Congo, (BCDC) in the Democratic Republic of Congo, further strengthening is foot print on the African market. This follows a …

Fort Portal, Uganda |  THE INDEPENDENT  Police in Fort Portal has been tasked to expedite an investigation into the sale of donated Mama Kits in a supermarket.  Mama Kits labelled; “For Public Use, Not for Sale” were first seen in  Good Home Supermarket in Fort Portal, in March.  Subsequently, a Chinese …

Kampala, Uganda |  THE INDEPENDENT  More than half of the businesses in Uganda cut the salaries of their employees in March and April 2020 as the country entered into tough restrictions to stem the spread of coronavirus, a survey by the Uganda Bureau of Statistics (UBOS) has said.  According to UBOS, …

  Johannesburg | THE INDEPENDENT | Chief Financial Officer of MTN Group Ralph Mupita will on September 1 take over from Rob Shuter as president and CEO. “After a rigorous and extensive search process, we are pleased to have appointed someone of Ralph’s calibre, experience and ability to fill the group president …

Kampala, Uganda |  THE INDEPENDENT  Businesses should desist from putting their main income generating assets as collateral to get loans from banks, an expert has said. Sarah Mbinji, an International Finance Corporation trainer, said on Wednesday that using your cash-cow asset as security to get a loan would be akin to …

The company executives say focus on digitization will drive growth of business going forward Kampala, Uganda | JULIUS BUSINGE | MTN Uganda has reported a 9.1% increase in net profit to Shs442.6billion for the first six months of 2020. According to company’s latest interim results, the performance was driven by …

Kampala, Uganda |  THE INDEPENDENT  Uganda Revenue Authority – URA registered a surplus in tax collections for July 2020 after some people and corporations that had suspended payments during the Coronavirus (COVID-19) lockdown paid up. URA collected 1.2 trillion Shillings in July 2020 against a target of 1.02 trillion Shillings – …

Kampala, Uganda |  THE INDEPENDENT | Power distributor Umeme saw its after-tax-profits fall by 64 per cent with the revenues affected by low demand for electricity and payments during the coronavirus lockdown. Umeme said in its half-year financials published today that the company’s profits had dropped to 22 billion Shillings in …

Kampala, Uganda | THE INDEPENDENT | As the country struggles to overcome of the effects of the recent lock-down to prevent the spread of the COVID-19 pandemic, Uganda’s export earnings increased for a second consecutive month to US$ 337.19 million in June 2020 from US$290.93 million in May 2020. The …

Kampala, Uganda |  THE INDEPENDENT | Uganda National Bureau of Standards (UNBS) has translated into Luganda guidelines that small companies in the food industry are expected to follow to keep food and beverages free from contamination. Smaller companies, majority of which engage in the selling of different food stuffs had for …