Business

  • Growth in revenue by Sh64bn • Sh146 billion in profit after tax • 12.9% growth in net customer loans standing at Sh1.76 trillion • 16.3% growth in customer deposits to Sh2.45 trillion Kampala, Uganda | THE INDEPENDENT | Absa Bank Uganda has reported a growth in revenue by Sh64 …

  South Africa is to transition its rail network towards a more open and competitive model, allowing private train operators access to its extensive rail infrastructure. SPECIAL REPORT | BIRD AGENCY | South Africa is opening its rail network to private train operators in a commercial pivot to revitalise a …

Kampala, Uganda | THE INDEPENDENT |  Shops in all parts of the city center have closed as traders protest over the Electronic Fiscal Receipting and Invoicing Solutions (EFRIS) system. The protests were started last week by traders affiliated with the Federation of Uganda Traders’ Associations (FUTA). On Tuesday, they were …

Twin growth in the number of talented young filmmakers and private investors is powering Kenyan production and viewer interest. SPECIAL REPORT | BIRD AGENCY| Kenyan viewers are beginning to show a strong preference for locally-produced content, regional giant MultiChoice has revealed, with the appetite and consumption of Kenyan-made films now …

Kampala, Uganda | THE INDEPENDENT |  The government spending plans have fallen short by sh3.337 trillion in the first seven months of this financial year, as revenue mobilization continues to be a thorn in government operations. This failure to meet its spending targets, made it worse for project implementation, as …

Kampala, Uganda | THE INDEPENDENT | Stanbic Uganda Holdings Limited (SUHL) has officially flagged off two innovative programs aimed at supporting businesses to access finance, fostering economic growth within Uganda’s dynamic SME sector. Dubbed the Stanbic Accelerator Program (SAP) and the Supplier Development Program (SDP), the two are under the implementation …

BEIJING | Xinhua | China remained the top merchandise exporter in 2023 for the seventh straight year with its share in world exports at 14.2 percent, almost the same as the level in 2022, the Ministry of Commerce said. The ministry made the remarks in response to the latest edition …

However, the growth is insufficient to have a significant effect on poverty reduction ANALYSIS | AGENCIES | Increased private consumption and declining inflation are supporting an economic rebound in Sub-Saharan Africa. However, the recovery remains fragile due to uncertain global economic conditions, growing debt service obligations, frequent natural disasters, and escalating …

Tourism services are still generally poor and there is a need for investment especially in tour guiding, site interpretation, food and beverage services Kampala, Uganda | JULIUS BUSINGE | A comprehensive report released by the Petroleum Authority of Uganda has advocated for significant reforms in the tourism and oil and gas …

Kampala, Uganda | THE INDEPENDENT |  The Uganda National Bureau of Standards (UNBS) has certified and awarded Mandela Millers with an ISO 22000 certification for its food safety and quality standards.   Patricia Bageine Ejalu, the Deputy Executive Director of Standards at UNBS, represented the Executive Director at the award …