Business

Kampala, Uganda | THE INDEPENDENT | The Tony Elumelu Foundation, the leading African-funded and founded philanthropy committed to empowering African entrepreneurs, is now accepting applications for the 2019 cohort of the TEF Entrepreneurship Programme. The Programme is a 10-year, $100 million commitment to identify, train, mentor and fund 10,000 African entrepreneurs. …

  Kampala, Uganda | THE INDEPENDENT | The National Forest Authority (NFA) is worried about the recurrent replacement of natural forests with eucalyptus and pine trees in many parts of the country including wetlands. Tom Okello Obong, the Executive Director of NFA says their assessment has established a growing habit …

Kampala, Uganda | THE INDEPENDENT | A major power blackout has hit several Southwestern districts for over 24 hours crippling business. The blackout, which started on Sunday morning, has affected Ntungamo, Rukiga, Kabale, Rubanda, Rukungiri, Kanungu and Kisoro districts. In Ntungamo and Kabale districts, the outage has triggered water shortage …

Kampala, Uganda | THE INDEPENDENT | Uganda’s private sector activity increased for December 2018 signalling improved business environment. The Stanbic Bank Purchasing Manager’s Index (PMI) for manufacturing and services rose to 56.6 for December from 55.7 recorded in the previous month owed to increased demand for various products and services. Anything …

Kampala, Uganda | THE INDEPENDENT | The Insurance Regulatory Authority has licenced 114 players to carryout insurance business this year. These includes 32 insurance companies; one Micro Insurance firm, one re-insurer, five Health Membership Organizations (HMOs), 35 insurance brokers, two re-insurance brokers and 24 Loss Assessors, adjusters, insureance surveyors and risk …

Kampala, Uganda | THE INDEPENDENT | Electricity Regulatory Authority has reduced power tariffs for consumers due strengthening shilling and easing inflation.  The domestic consumer tariff has been reduced by Shs 0.5 from Shs 769.5 shillings of the 2018 fourth quarters to Shs 769 of the first quarter of 2019. The average …

  Arua, Uganda | THE INDEPENDENT | A peaceful, stable and thriving eastern Democratic Republic of Congo (DRC) would generate lots of dividends for Uganda. According to business leaders from West Nile, the region and Uganda in general will benefit a lot if stability and peace reigns in the DRC, …

Accra, Ghana | AFP | Norway’s Aker Energy on Thursday said it had discovered oil in commercial quantities off Ghana, which the government welcomed as a potential boost to the economy. The oil and gas operator said exploratory drilling indicated an “estimated 450-550 million barrels of oil equivalent (mmboe)” in the Pecan field, 166 kilometres …

Kampala, Uganda | THE INDEPENDENT | The former Central Bank Executive Director in charge of Supervision Justine Bagyenda has been accused of usurping the powers of the Legal Department, in the Crane Bank Limited saga. The accusation came after reports that Bagyenda engaged external lawyers from MMAKs Advocates to offer …

Kampala, Uganda | THE INDEPENDENT | An influx of businessmen and investors in oil related activities has pushed up the demand for accommodation in the Albertine Graben. The area is now attracting more investments from companies and individuals seeking to tap into the Oil and Gas industry. Investors from both within …