Business

Kampala, Uganda | THE INDEPENDENT |  The government has unveiled a seven member committee to offer strategic advice on oil resource investments as the Final Investment Decision by oil companies looms. The Petroleum Fund Investment Advisory Committee (IAC) was inaugurated by the Minister of Finance Matia Kasaija at the ministry …

Kampala, Uganda | THE INDEPENDENT | Less than a month after the State House Anti-Corruption Unit swooped on Post Bank over embezzlement of funds, seven of its top employees including the bank’s MD Stephen Mukweli are now facing corruption charges at the Anti-Corruption Court. They were charged with abuse of …

Koboko, Uganda | THE INDEPENDENT | President Yoweri Museveni has launched phase four of the National Backbone Infrastructure Connectivity project for West Nile. The ceremony took place today at St. Charles Lwanga Senior Secondary School grounds in Koboko District. The government of Uganda through the National Information Technology, Uganda (NITA-U), …

New York, United States | AFP | Uber shares skidded Friday in a disappointing Wall Street debut following a massive public offering from the global ride-hailing giant. After pricing at $45 for the initial public offering (IPO) — translating to a market value of $82 billion — Uber shares began …

Kampala, Uganda | THE INDEPENDENT | The Ministry of Finance, Planning and Economic development says that it still hopes to get funding from China’s Exim bank for the construction of the Standard Gauge Railway. The Uganda Standard Gauge Railway is a USD 2.269 Bn planned railway system linking the country to the …

Kampala, Uganda | THE INDEPENDENT | The Budget Committee of parliament will not allocate operational funds to Uganda National Airlines Company Limited until a substantive board is put in place. Government is seeking Shillings 59.2 billion for the operations of the national carrier for the 2019/2020 financial year. The money is …

Kampala, Uganda | THE INDEPENDENT | The  International Monetary Fund has hailed  Uganda for achieving the Millennium Development Goal on halving poverty ahead of schedule but warned that the country must create over 600,000 jobs per year to keep up with its growing population. In its latest report after recent consultations …

Kampala, Uganda | THE INDEPENDENT | Edwin Keronga has been appointed Managing Director of PostBank Uganda Limited, following the resignation of Stephen Mukweli. Mukweli who has been the bank’s Managing Director since the early 2000s, handed in his resignation to the bank’s board chairman Grace Bakunda on Friday, a day …

Kampala, Uganda | THE INDEPENDENT | The government has officially unveiled five oil blocks that are available for licensing. Energy and Mineral Development Minister Irene Muloni unveiled what she termed as “five brides” that are available in Uganda for taking, to investors gathered at the East African Petroleum Conference and …

  The impasse lies in the hands of two leaders –President Museveni and Paul Kagame. Kampala, Uganda | JULIUS BUSINGE | Ugandan traders are slowly turning to other markets in the region to sell their goods as the border standoff between Kigali and Kampala continues into the third month with …