Business

  #UGBUDGET20 ✳ Sh45.5 trillion ✳ Cuts on travel, conferences ✳ Security Sh4.5 trillion ✳ Works Sh5.8 trillion ✳ Govt to borrow Sh11trillion ✅ 2020 – Sh45 trillion ✅ 2019 – Sh40 trillion ✅ 2018 – Sh32 trillion ✅ 2017 – Sh22 trillion ✅ 2016 – Sh20 trillion Kampala, Uganda …

Kampala, Uganda| AFP |  THE INDEPENDENT |  The Civil Aviation Authority (CAA) has said it has lost atleast 534 million shillings daily due to the lockdown of Entebbe Airport. According to the CAA Deputy Executive Director Fred Bamwesigye, on a daily, before April 2020, they were generating revenue of between 16 …

#UGBUDGET20 ✳ Sh45.5 trillion ✳ Cuts on travel, conferences ✳ Security Sh4.5 trillion ✳ Works Sh5.8 trillion ✳ Govt to borrow Sh11trillion ✅ 2020 – Sh45 trillion ✅ 2019 – Sh40 trillion ✅ 2018 – Sh32 trillion ✅ 2017 – Sh22 trillion ✅ 2016 – Sh20 trillion Kampala, Uganda | …

Kampala, Uganda | THE INDEPENDENT | As the country slowly emerges from a two-months lockdown, there is now a sense among business leaders that things might be getting better according to a survey sponsored by Stanbic Bank. The Purchase Managers Index (PMI) rose to 41.9 points in May from the …

Pearl Dairy resumes milk processing  THE INDEPENDENT | JULIUS BUSINGE | Pearl Dairy Farms Limited has resumed operations after nearly four months of no activity. The company had suspended milk processing until further notice at the beginning of the year (2020) after Kenya blocked the entry of its processed milk …

eSports – competitive video gaming tournaments – are enjoying unprecedented growth under lockdown and South Africa could be a staging post for their expansion across the continent. Will McBain reports | THE INDEPENDENT | Johannesburg resident Sam “Tech Girl” Wright kept her passion for video gaming a secret in high …

Gross underwritten premiums to plummet in 2020 THE INDEPENDENT | ISAAC KHISA | A surge in claims and management expenses saw Uganda’s nonlife insurance firms record 8% drop in profit to Shs17.93bn for the year ended Dec.2019. However, the industry executives said there is nothing to worry about since the …

London, United Kingdom | AFP | Global stock markets built on strong pre-weekend gains on Monday as optimism that economies are emerging from coronavirus gloom kept buyers onside. On Wall Street, the Dow index was up just over 200 points at the opening bell, while in Europe London and Frankfurt were …

Buikwe, Uganda| AFP |  THE INDEPENDENT |  The current lockdown has taken a huge toll on Najjembe Meat and Chicken Vendor’s Savings and Credit Co-Operative-Sacco in Buikwe district. The Sacco, which comprises more than 300 depositors, has been operational for the last three years. The members have depositing between Shillings 10,000 and …

Masaka, Uganda| AFP |  THE INDEPENDENT |  Moses Kaliisa alias Muto, the proprietor of Muto and Twin-Tower Business Complexes in Masaka Municipality has waived off the rent fees for his tenants affected by the lockdown for the month of March and April, 2020. In a memo sent out to at least …