Business

European Investment Bank and FMO sign up to renewAfrica covenant Luxembourg, LUX | THE INDEPENDENT | In a continued effort to back the development of renewable energy on the African continent, the EIB and FMO on Wenesday committed to support the “renewAfrica” initiative, championed by RES4Africa. The renewAfrica Initiative is a …

Mbale, Uganda | THE INDEPENDENT | Uganda is expected to continue having unpredictable rain and dry seasons, scientists have concluded, after projecting an increase in temperatures of about 2 degrees Celsius over the next 30 years in Kenya, Tanzania and Uganda. These climate changes will have a significant impact on the …

  dfcu, one of Uganda’s largest banks by assets has been running a Women in Business initiative/programme since 2007. The Independent’s Julius Businge spoke to Victoria Byenkya, the Manager for the programme on how it is empowering women to succeed in business. Briefly share the overview of the initiative? The …

Chinese firm, Tian Tang Group, has opened the Sino-Mbale Industrial Park in eastern town of Mbale, an investment its executives say will create at least 2,000 jobs to the local population. Mbale, Uganda | JULIUS BUSINGE | The firm’s executives say three investors have already set up in the park …

  African countries have a long way to go as they continue being recipients of blockchain technologies Kampala, Uganda | JULIUS BUSINGE | Blockchain technology has recently emerged as one of the biggest innovations in the world. Michael Niyitegeka, a Kampala based information technology expert explained to this reporter that …

  Kampala, Uganda | JULIUS BUSINGE | After five years at the helm of Barclays Bank Uganda as Managing Director, Rakesh Jha has left, according to a media release dated July 15. Insiders say he has left because of personal reasons.  During his tenure, the bank was seen to be …

  Economists say significant challenges remain, including poor road and rail links, excessive border bureaucracy and petty corruption | THE INDEPENDENT | On July. 07, African nations officially unveiled a landmark trade agreement at the African Union Summit in Niamey, Niger, with the long sought-after agreement hailed as a historic …

Kampala, Uganda | THE INDEPENDENT | Uganda Revenue Authority collected 16.6 trillion Shillings, much more than it had estimated in the just-ended financial year. Against a target of sh16.4 trillion, the tax body registered a surplus of sh259 billion, the biggest in its entire history. Compared to the 2017/18 financial …

Kampala, Uganda | THE INDEPENDENT | Alvin Mbugua, a finance guru from Kenya,  has rejoined Uganda Breweries Ltd (UBL) as Managing Director. He took over July 1 from Ugandan Mark Ocitti Ongom who moves to Serengeti Breweries Limited in Tanzania, as Managing Director. “I am humbled to be entrusted with …

  Kampala, Uganda | THE INDEPENDENT | Amirali Karmali, the proprietor of Mukwano Industries Uganda Limited is dead. The entrepreneur died quietly on Wednesday evening at his home in Kololo, according to reports. Karmali, born in the 1930s is the father to Alykhan Karmali, who is currently running the family …