Business

Central bank’s move could reduce the industry’s profitability | THE INDEPENDENT | Uganda’s central bank has threatened to cap interest that commercial banks can charge borrowers following the industry’s failure to lower interest rates in response to the cuts in the Central Bank Rate, according to its governor, Emmanuel Tumusiime-Mutebile. …

Experts urge government to strengthen regulatory framework, review taxation and promote financial inclusion Kampala, Uganda | JULIUS BUSINGE | The use of digital technologies has potential to jumpstart the economy that has been battered by COVID-19 pandemic, according to the World Bank’s latest Economic Update for Uganda. The report, which …

Kampala, Uganda |  THE INDEPENDENT |  Police have fired teargas and live bullets to disperse hundreds of traders in downtown Kampala who had reopened shops this morning, despite their continued closure by the government.   Arcades have remained closed since March 2020, when the government first announced a lockdown to contain the …

Kitgum, Uganda |  THE INDEPENDENT |  Farmers in Labongo Amida Sub County, Kitgum district have protested the exclusion from independently sourcing for service providers for a project being implemented under the Third Northern Uganda Social Action Fund- NUSAF-3. The group comprising of 60 farmers under Abilgiri Watershed received 70 million shillings …

    Kampala, Uganda | THE INDEPENDENT | Police have impounded over 200 motorcycles and arrested their riders in Kampala Metropolitan areas for violating presidential directives stopping them from carrying passengers as part of the Coronavirus Disease (COVID-19) preventive measures. The Kampala Metropolitan Police Spokesperson, Patrick Onyango, says most of …

Nevin Bradford has been the Chief Executive Officer for Cipla Quality Chemical Ltd since November 2013. The Independent’s Julius Businge interviewed him about their COVID-19 experience and general company operations.  What has been your general business experience since March 2020 when the government of Uganda joined the rest of the …

Arua, Uganda | THE INDEPENDENT | The Ministry of Health has lifted the ban on public transport in Arua. In a letter dated July 10 addressed to the Resident City Commissioner Arua Nahori Oya and also the chairperson Arua district COVID-19 task force, the State Minister for Health Robinah Nabbanja, …

  Kampala, Uganda | THE INDEPENDENT | The National Organisation of Trade Unions (NOTU) has said that it is against a planned demonstration by a section of savers against the National Social Security Fund- NSSF. Usher Wilson Owere, the Chairman General of NOTU says that the body is not part of …

  Paris, FRANCE | THE INDEPENDENT | Eversend, a Neobank for Africans led by Ugandan entrepreneur Stone Atwine, has closed its oversubscribed equity crowdfunding campaign on Seedrs for just over $1 million. The startup Eversend had planned to raise $613,000 in return for 7.67% equity, but ended up raising ($1.015 million). …

    Luwero, Uganda | THE INDEPENDENT | National Water and Sewerage Corporation is struggling to collect payments from water bills that accumulated before and during COVID 19 lockdown. The utility company halted disconnections during the lockdown to maintain a constant flow of water at a time when Ugandans were …