Business

Kampala, Uganda | THE INDEPENDENT | A batch of 22 internationally certified welders for the oil and gas sector have been passed out. The 22 certified welders, trained as trainers of trainees, were unveiled Thursday on the second day of the 4th Oil and Gas Convention in Kampala. The group …

Kampala, Uganda | THE INDEPENDENT | The Uganda Bankers Association has launched the Shared Agent Banking System (SABS) in an effort to increase financial inclusion and enable spread and penetration of banking services in Uganda. Agent banking is an extension of banking services outside the conventional bank branches, where a …

Investment body to nearly double its staff to promote investment, create jobs Kampala, Uganda | IAN KATUSIIME | Jolly Kaguhangire, the executive director of Uganda Investment Authority (UIA) is marking her first anniversary on the new job with restructuring at the investment agency aimed at marketing Uganda as a profitable …

Paris, France | AFP | Billionaire French industrialist Vincent Bollore is being questioned in Paris over allegations that his conglomerate used corrupt connections in Africa to win port contracts. Founded in 1822, the Bollore Group, which is majority owned by the Bollore family, has diverse interests ranging from logistics and energy …

Washington, United States | AFP | Twitter reported its second consecutive quarterly profit Wednesday in a positive sign for the short messaging service after years in the red. The San Francisco-based social network earned $61 million in the first three months of the year, boosted by strong growth in advertising revenue …

Jinja, Uganda | THE INDEPENDENT | A ground breaking ceremony has taken place today to kick start the reconstruction of the Uganda Hotel Tourism and Training Institute (UHTTI) also known as the Crested Crane Hotel in Jinja. The re-development of Uganda Hotel and Tourism Training Institute is, according to officials, …

Kampala, Uganda | JULIUS BUSINGE | Tony Elumelu is the founder of The Tony Elumelu Foundation, which is currently running a 10 year –The Tony Elumelu Entrepreneurship Programme–worth US$100 million. The Independent’s Julius Businge captured some of the responses to the key issues raised during a public lecture on Africapitalism …

Washington, United States | AFP | Crude oil prices are expected to jump 23 percent this year amid strong economic growth, while metals prices are rising, hit by ongoing trade tensions, the World Bank said Tuesday. The World Bank raised its forecast for oil prices to an average of $65 a …

Paris, France | AFP | South Africa is set for a steep decline in wine production in 2018 as the country grapples with a water crisis ravaging Cape Town and surrounding areas, a Paris-based global organisation said Tuesday. Africa’s top wine producer is set to produce 8.6 million hectolitres of wine …

Kampala, Uganda  | THE INDEPENDENT | The Minister of State for Planning David Bahati has confirmed several radical tax proposals and amendments to the Income tax Bills, including increase excise duty on diesel and petrol by Sh100 for a litre  to generate Sh196.4 billion. Another key new tax proposal is …