Business

Soroti, Uganda | THE INDEPENDENT | Dry tests at the Teso Fruit Factory in Soroti indicate it will finally be ready for launch before the end of this year. Trade Minister Amelia Kyambadde, members of the Board of Uganda Development Corporation, Leaders of Teso Region, farmers and other stakeholders toured …

Kampala, Uganda | AGNES E NANTABA | Sydney Asubo is the Executive Director of Financial Intelligence Authority (FIA). He spoke to the Independent’s Agnes E Nantaba about the status of money laundering in Uganda and efforts to combat it. What encompasses your management style? My philosophy has essentially remained the same …

  Mobile money to the rescue as banking sector remains too shallow to leverage financial inclusion COMMENT | ENOCK NYOREKWA TWINOBURYO | In line with statutory requirements, all banks are supposed to publish their financial statements by the end of April of each year. The published banks’ results for 2017 are …

Competition from other clay products makers threatens its further increase in sales Kampala, Uganda | ISAAC KHISA | Clay products maker, Uganda Clays Limited (UCL), has recorded a steady profit growth for the second year running citing increased marketing and the decision by the majority shareholder, National Social Security Fund, …

Johannesburg, South Africa | THE INDEPENDENT | Barclays Africa Group Ltd shareholders have approved that the group changes its name to Absa Group Limited in July, setting in motion the start of one of the largest re-brand projects in Africa at this time. The group name change will not affect …

Kampala, Uganda | THE WORLD BANK| Improving tax revenue is essential to sustaining economic growth in Uganda, according to a recent economic analysis for the country. The Uganda Economic Update, Financing Growth and Development: Options for Raising More Domestic Revenues, says that while economic growth has rebounded from 4.5% to 5.5% …

Gov’t could lose nearly Shs200bn annually; thousands of jobs at risk Kampala, Uganda | JULIUS BUSINGE | Supporters of a ban on import of cars older than eight years would be much happier if the current law, The Traffic and Road Safety Act, 1998, is amended. But opponents, however, say it …

Nigeria, China in currency swap Kampala, Uganda | THE INDEPENDENT | In a signing ceremony that took place in Beijing China, the Central Bank of Nigeria and the Peoples Bank of China agreed to a currency swap worth $2.5billion to make trade between the two countries easy. International reports say the move …

Kampala, Uganda | THE INDEPENDENT | China International Water and Electrical Corporation (CWE), the contractor of the 183MW Isimba Hydro power project is refurbishing old structures of Mbulamuti Primary School found in Kamuli district a few kilometers away from the site where dam construction is taking place. Speaking at the …

Kampala, Uganda | THE INDEPENDENT | Another lucky winner, Geofrey Madira from Arua joined previous winners in the ongoing Under The Crown Promotion dubbed ‘Samba Ne Coca-Cola’ promotion by winning Shs 10 million, the company said in a May 4 notice. “I am so grateful,” Madira said upon receiving the …