Business

Kampala, Uganda | THE INDEPENDENT |  Michael Mugabi, the Managing Director of Housing Finance Bank and Board Chairman of the Uganda Institute of Banking & Financial Services (UIBFS), has encouraged financial service providers to adopt technological innovations like digital banking, mobile money, and fintech solutions to boost efficiency, lower costs, …

KAMPALA, UGANDA | THE INDEPENDENT | Fuel dealers in Uganda anticipate that the involvement of the Uganda National Oil Company (UNOC) as the sole importer of fuel will lead to improved pump prices. Geoffrey Elyanu, the Supplies and Distribution Manager for VIVO Energy Uganda, expressed this expectation during a media engagement …

Kampala, Uganda | THE INDEPENDENT |  Vivo Energy Uganda, the country’s leading distributor and marketer of Shell-branded fuels and lubricants, has reaffirmed its commitment to maintaining product quality for its customers despite the change in importing entities from the Kenyan government to the Ugandan government through the Uganda National Oil …

The financial regulator is in consultation to begin purchasing locally produced gold to bolster its foreign reserves and address challenges in international financial markets Kampala, Uganda | THE INDEPENDENT | Uganda’s central bank has urged borrowers to prepare for high interest rates due to tightening financial conditions and increased government borrowing …

Chinese electric vehicles are transforming livelihoods of Kenyan taxi drivers. NAIROBI, Kenya | Xinhua | Paul Mwai sat in his parked car as he scrolled through his cell phone to confirm his next customer on his digital app. The 33-year-old taxi driver had just received an order to transport a …

Kampala, Uganda | THE INDEPENDENT | The Uganda Printing and Publishing Corporation (UPPC) is steadily advancing to meet contemporary printing and publishing demands, following significant improvements to this official government publisher. The 123-year-old printing house, once merely respected as the Uganda Gazette printer, has acquired state-of-the-art printing machinery. Its digitalization efforts …

  Kampala, Uganda | THE INDEPENDENT |  PostBank Uganda has launched a Self-Onboarding ZeroFlex digital account to enable customers to self-register and have access to financial services anywhere and at any time without necessarily moving to the bank premises. The ZeroFlex account is a digital account that allows existing or new …

  Luwero, Uganda | THE INDEPENDENT | Uganda Baati Limited has opened a new showroom in Luwero District. Officials have said the expansion marks the company’s 14th showroom nationwide and reinforces its commitment to providing accessible, high-quality products and services to customers nationwide. Located on Plot No. 793 Gulu Road, …

KAMPALA, Uganda | Xinhua | Uganda’s central bank said it is in consultation to begin purchasing locally-produced gold to bolster its foreign reserves and tackle challenges in international financial markets. The Bank of Uganda (BoU) in its State of the Economy report issued Thursday said the domestic gold purchase program …

MOSCOW, RUSSIA | TASS | Growth of world oil demand is forecast to average just below 1 mln barrels per day in 2024 and 2025, as subpar economic growth, greater efficiencies and vehicle electrification act as headwinds, the International Energy Agency (IEA) said in its July report. Consequently, the estimate …