Business

Kampala, Uganda | THE INDEPENDENT | There was panic and fear in Kikulu zone in Kikaya-Kisasi in Kawempe North on Saturday night following multiple explosions of gas cylinders. Locals told Uganda Radio Network (URN) that they heard a loud bang followed by ablaze that engulfed the entire structure that housed the …

Kampala, Uganda  | THE INDEPENDENT | The Speaker of Parliament Rebecca Kadaga has revealed that she is frustrated by the Ministry of Finance for failing to finance the Tree Fund enacted under the National Forestry and Tree Planting Act, 2003. Kadaga says that it is sickening that 16 years after …

  Kampala, Uganda  | THE INDEPENDENT | The African Export-Import Bank (Afreximbank) has announced a roadshow in Kigali to show the Rwandan private sector how it can become a primary beneficiary of the African Continental Free Trade Area (AfCFTA) which will provide significant opportunities to access the largely untapped markets and …

Nimule, Uganda  | THE INDEPENDENT |  The One-Stop Border Post (OSBP) at Nimule international cross border town has been opened to boost efficient trade between Uganda and South Sudan. The US$ 5 million, approximately 18.3 million Uganda Shillings’ facility was on Thursday handed over to the Government of South Sudan by …

Kampala, Uganda  | THE INDEPENDENT |  Uganda is set to lose more than 500 billion  Shillings in tax waivers during the 2019/2020 financial year alone, the Uganda Revenue Authority has indicated. A tax waiver is when a company or an individual engaged in a certain activity where they are supposed to …

Kampala, Uganda  | THE INDEPENDENT |  The International Monetary Fund-IMF has slashed Uganda’s growth projection from 6.3% to 6% this year, citing the country’s challenges to get oil out of the ground and government’s inability to do all budgeted activities.  After assessing the economy, the IMF said Uganda had challenges to …

Kampala, Uganda | THE INDEPENDENT  | Lilly Ajarova, the Chief Executive Officer of Uganda Tourism Board (UTB) has told delegates to the ongoing 2020 Pearl of Africa Tourism Expo (POATE) that Uganda is full of abundant tourism opportunities characterised by the richest tourism attractions portfolio, best value for money for investors …

✳Forex earnings from tourism have grown by 22% over the last 5 years from $1.31 billion to $1.6 billion an average growth of 4% per year ✳The tourism sector in 2018, contributed Shs8.3trillion worth of GDP- equivalent of 7.7% of Uganda’s GDP ✳ Tourism created 670,000 jobs in 2018 (6.7% of total …

Kampala, Uganda  | THE INDEPENDENT |  Uganda National Oil Company (UNOC) needs at least Three Trillion Shillings in capital to sufficiently carryout government business in the oil sector. Proscovia Nabbanja, the CEO of UNOC told reporters in Kampala on Wednesday that the money will be needed in a phased manner in …

  Washington, United States | AFP | The United States and Nigeria voiced hope Tuesday that President Donald Trump’s administration would soon lift onerous visa restrictions slapped on Africa’s most populous country, which said it was “blindsided” by its ally. On a previously scheduled visit to Washington, Nigerian Foreign Minister …