Business

Kampala, Uganda | THE INDEPENDENT | Despite a presidential directive to charge manufacturers $5 per unit of electricity consumed, industrialists are advised to remain patient, as the subsidy is still hindered by technical challenges years after the directive was issued. The directive, which is intended to reduce operational costs for …

Kampala, Uganda | THE INDEPENDENT | For the first time since 2013, KQ has reported a profit before tax. This achievement marks a major turnaround for the airline, in line with the strategic recovery plan launched in 2021, executives said on Aug.19 in a notice. In the six months to 30 …

NAIROBI, KENYA | Xinhua | From Uganda to Egypt, and from Senegal to Nigeria, Chinese-operated industrial parks and zones are thriving across Africa, helping the continent better integrate into the global production chain and promote new African brands. Driven by the China-proposed Belt and Road Initiative (BRI), China’s involvement in …

ANALYSIS | THE INDEPENDENT | Africa’s multilateral lender, African Export Import Bank, has recorded a significant 24.5% increase in net interest income for the first half of 2024, reaching $826.2 million driven by increase in loans and advances. The Bank also recorded a surge in fees and commission income that increased …

Kampala, Uganda | THE INDEPENDENT | The recently concluded 2024 MTN Uganda Suppliers’s Forum was a landmark event, celebrating the spirit of collaboration and innovation that fuels MTN Uganda’s success. Among the forum’s highlights was the presentation of the Supplier Innovation Award to Ericsson and GD Experts Ltd. The Supplier Innovation …

BEIJING, CHINA | Xinhua | Clad in golden chainmail armor and wielding a magical staff spinning with flames, the Destined One, Monkey King, embarks on a marvelous yet daunting odyssey in the celestial world of “Black Myth: Wukong.” Officially launched across the globe on Tuesday, “Black Myth: Wukong” is a …

WINDHOEK | Xinhua | Namibia is on track to become one of Africa’s leading oil producers by 2035, potentially producing more than half a million barrels of oil per day, an official said on Wednesday. This development could see the country displace Egypt from the top five oil producers on …

Kampala, Uganda | THE INDEPENDENT | The Uganda Breweries Managing Director (MD) Andrew Kilonzo has called upon government to drive usage of the Digital Tax Stamps(DTS) by all targeted users. Kilonzo made the statements during a media engagement withbusiness reporters and editors in Kampala early in the week. He said that …

Kampala, Uganda | THE INDEPENDENT | Pay tv firm, MultiChoice is offering its Ugandan subscribers a price discount for its GOtv Supa+ package until Nov. 10, 2024. GOtv Supa Plus, which was previously Shs 110,000, is now retailing at Shs 90,000, offering new customers the opportunity to get immersed in the …

Katakwi, Uganda | Patricia Akankwatsa | The Food and Agriculture Organization of the United Nations (FAO) is making significant strides in improving poultry farming in the Teso sub-region of Uganda. Through a comprehensive initiative aimed at building climate resilience and ensuring food security for smallholder farming households, FAO is providing farmers …