Business

Kabale, Uganda | THE INDEPENDENT  |  There was jubilation in Kabale district on Friday after the Ministry of Local Government officially handed over the Kabale Central Market to China’s Chong Chuing International Construction Company to reconstruct the market.  Chong Chuing International Construction Company won the contract in October 2019. The reconstruction …

Kampala, Uganda | THE INDEPENDENT  |  Ugandan milk crossing over to Kenya will be charged 16% Value Added Tax (VAT) as a measure to protect their local market. This week, Kenyan officials were in Uganda for a verification exercise to see whether the glut of milk entering their country was actually …

Kampala, Uganda | THE INDEPENDENT | Majid Al Futtaim, a leading shopping mall  chain, has today opened a first Carrefour Store in Uganda. The retail and leisure pioneer across the Middle East, Africa and Asia are now at the popular Oasis Mall, with a store that covers over 2800 square …

Kampala, Uganda | THE INDEPENDENT | The Court of Appeal has ruled that Uganda Revenue Authority-URA will have to pay for people’s goods lost or damaged in its possession. This position was made clear in a case involving a phones importer, Robert Bagala, against the tax body after the latter …

Beijing, China | AFP | China announced Thursday a list of US chemicals that will be exempted from import tariffs, just under a week after Beijing and Washington agreed a trade agreement that a dialled down tensions between the two. The world’s biggest economies have exchanged blows for more than a …

Kampala, Uganda | THE INDEPENDENT | Danish government-owned Investment Fund for Developing Countries (IFU) has bought 74 million shares (9.97%) in Dfcu bank, making it the second-largest shareholder after the Dutch-backed fund Arise B.V. The transaction, which saw London-headquartered CDC Group sell its stake, has been viewed as a vote …

Juba, South Sudan | AFP |  The US ambassador to South Sudan on Wednesday warned that Washington would not hesitate to slap additional sanctions on “spoilers” holding back peace in the war-torn African nation. Ambassador Thomas Hushek was recalled in November when South Sudan’s rival leaders failed to meet a …

Kampala, Uganda | THE INDEPENDENT  |  Majority of the Bus Companies plying up country routes have increased transport fares from Kampala to their various destinations, a week to Christmas.  The increment follows a significant surge in the number of travelers to up country destination and interstate cities of Juba, Kigali and …

Kampala, Uganda | JULIUS BUSINGE | Uganda Electricity Generation Company Limited (UEGCL) announced on Dec.17 that it had made a net profit of Shs24.7bn for the financial year 2018/19, up from a loss of Shs10.8bn a year before. Officials said the profit, the first since the company’s inception in 2001, …

Kampala, Uganda | THE INDEPENDENT | Telecommunications giant MTN Uganda has announced a package of internet bundles that have no time limit for expiration a few weeks after a Ugandan sued telecom companies over expiry of data. The offering allows internet users to get 6MB , 80MB and 1GB  for …