Business

MD accused of recruiting relatives, forging financial statements and failing to comply with government’s development plan Kampala, Uganda | ISAAC KHISA | The Managing Director for Uganda Posta Limited, James Arinaitwe, is caught up in a fight to secure a ‘third term’ following the expiry of his contract last month, …

New player expected to boost local tourism industry Kampala, Uganda | RONALD MUSOKE | Global hotel brand, Hilton, will soon enter the Ugandan market, boosting the country’s fast growing hospitality industry. The company’s representatives on March 22 signed a hotel management agreement with TWED Property Development Company to manage a …

But only a small proportion of the region’s population is hooked to the internet Kampala, Uganda | RONALD MUSOKE | Sub-Saharan African economies are sluggishly growing owing to global uncertainty, poor management of debt, inflation as well as political and regulatory uncertainty, according to the latest World Bank’s bi-annual analysis …

    Kampala, Uganda | THE INDEPENDENT | BRAC, one of the largest microfinance providers in Uganda, has been transformed into a Tier 2 Credit Institution (CI) to broaden the range of financial services it provides to low-income communities. First Deputy Prime Minister General Moses Ali represented President Yoweri Museveni …

UN’s Assistant Secretary-General Ahunna Eziakonwa is the new Director of the Regional Bureau for Africa of the United Nations Development Programme (UNDP). She spoke to Africa Renewal’s Kingsley Ighobor on issues pertaining Africa’s socio-economic development. In the recently released World Economic Situation and Prospects for 2018 report, Africa’s economic growth …

Paris, France | AFP | China’s investment strategy of throwing money at developing countries appears to have hit a snag in the Republic of Congo as the central African nation is seeking an IMF bailout. While the funding it provided to Congo wasn’t part of the Belt and Road Initiative …

Studies show new initiative will merely benefit the contracted firm Kampala, Uganda | PATRICIA AKANKWATSA | On April 12, the Uganda Revenue Authority announced that it had rolled out digital stamps to combat illicit trade and seal revenue leakages. This move follows Kenya and Tanzania that have already done so. …

Kampala, Uganda | AFP | Nasasi Belinda, a Ugandan businesswoman, has won the east African country’s first-ever “Miss Curvy” beauty pageant, vowing to act as a role model for other women with “plus-size” figures. “I am going to be an inspiration,” an overjoyed Belinda said after winning the title in Kampala …

Kampala, Uganda | THE INDEPENDENT | Parliament has rejected a proposal by the government to allocate sh484.2 billion to recapitalize the Bank of Uganda (BOU) , reducing it to sh200 billion. The changes were made on Friday as Parliament adopted the report by parliament’s Finance Committee on the Finance Sector …

New York, United States | AFP | Aviation giant Boeing has suffered a $1 billion hit to its bottom line amid the crisis over its 737 MAX aircraft after two deadly crashes that grounded the plane and halted deliveries, the company said Wednesday. Boeing also withdrew its 2019 profit forecast due …