Business

Soroti, Uganda | THE INDEPENDENT  |  Soroti district officials have asked the government to review some of the requirements for the youths to access the Youth Livelihood funds. This follows lower recovery rate of YLP funds disbursed to 114 youth groups in the district. Since 2014/2015 Financial Year, the district has …

Beijing, China | AFP | China’s economy weakened to its slowest pace in three decades in 2019 as weaker domestic demand and trade tensions with the United States took their toll, official data showed Friday. The world’s second-largest economy grew by 6.1 percent last year, its worst performance since 1990, …

Abuja, Nigeria | AFP |  English-speaking West African countries on Thursday criticised a move to rename the CFA franc used by former French colonies, saying the move jarred with plans to introduce a region-wide currency of the same name. Members of the West African Monetary Zone (WAMZ) Convergence Council said …

Kampala, Uganda | THE INDEPENDENT  |  Victims of Dunamiscoins Resource Centre Ltd, a blacklisted cryptocurrency exchange have petitioned parliament, in a fresh push for compensation for monies lost in the scam.  These were part of the thousands of Ugandans who lost their money to the exchange which was operating a money …

Rubanda, Uganda | THE INDEPENDENT  |  The high cost of land in Rubanda district is scaring away investors. According to authorities, the cost of land in Rubanda shot up when it became an independent district in July 2016 after being curved from Kabale. Some of the areas where the cost of …

Kampala, Uganda | THE INDEPENDENT  | Former employees at Dunamiscoins Resource Centre Ltd, a blacklisted cryptocurrency exchange have hinted that security agencies opted for soft targets in the scam that saw thousands of Ugandans lose billions in deposits. Dunamiscoins was operating a money lending business with branches in Masaka, Ndeeba, Mbale, …

London, United Kingdom | AFP | Prime Minister Boris Johnson on Tuesday challenged US opponents of Britain’s potential decision to let China’s Huawei telecoms giant develop its 5G network to come up with a better choice. Johnson’s comments came one day after a US delegation arrived in London for a …

Kampala, Uganda | THE INDEPENDENT | Uganda Revenue Authority (URA) Commissioner General Doris Akol has called for the amendment, and in other cases abolition of several tax laws, including the OTT (Over-the-top media service). She has also called for an amendment of the Tax Procedure Act to allow for installment …

Isimba and Karuma power stations are expected to boost its earnings Kampala, Uganda | JULIUS BUSINGE | Officials at Uganda Electricity Generation Company Limited (UEGCL) are hoping to record improved performance after posting the first net profit in 18 years. The company reported at the end of last year that …

But 2021 general election might affect pace of growth Kampala, Uganda | ISAAC KHISA AND PATRICIA AKANKWATSA | Companies, businesses and ordinary folks are cautiously optimistic that 2020 will be a better year though projections point to a rough business terrain owed to the much anticipated competitive 2021 election campaigns. …