Business

Arusha, Tanzania | JUMUIYA| The 18th Ordinary East African Community (EAC) Heads of State Summit has been set for May 20, 2017, in Dar es Salaam, Tanzania.Top on the agenda is the consideration of EU-EAC Economic Partnership Agreement (EPA) and Sustainable Financing Mechanism for the Community. The Summit will also consider …

Uganda’s leading telecom company MTN prepared Thursday morning for Friday’s deadline of SIM-Card registration, by deactivating numbers that have not yet been verified. MTN called it a “soft deactivation”, that was lifted at midday. “This is a soft suspension, dial *197*3#ok to submit your NIN, however,your SIM will be activated at …

The Kampala High Court’s Execution Division has ordered the attachment of 26 buses belonging to Pioneer Easy Bus Company for failure to clear a 2013 debt of over Shs152 million. The order to attach the Buses has been issued by the Court’s Deputy Registrar Muse Musimbi to bailiffs from Libra …

The Uganda Revenue Authority (URA) has recorded a shortfall of Shs 240bn in the first three quarters of FY 2016/2017 amidst a tough economic environment. As a sign of the times, the International Monetary Fund (IMF) this week revised GDP growth for Uganda for FY2016/17 to 3.5% from government projections …

South Africa President Jacob Zuma has said that last year’s 8% increase in international tourist arrivals in Africa indicates the immense potential for further growth in the continent’s tourism sector. “Africa enjoyed an eight percent increase in international tourist arrivals to reach 58 million arrivals. This means that Africa is …

Trade ministry bows to pressure, allows duty free import of unprocessed rice Uganda’s Ministry of Trade, Industry and Cooperatives now says it has allowed the duty-free import of up to 50,000 metric tonnes of unprocessed rice, commonly known as ‘brown rice’,  to boost supplies and check prices amid a fall …

The International Monetary Fund (IMF) expects Uganda’s gross domestic product growth to record anywhere between 3.5%-4% in FY2016/17, lower than 5% that had earlier been projected. This was announced on Tuesday by Axel Schimmelpfennig, the head of IMF mission that visited Kampala, Uganda from May 2-15, 2017 to conduct the …

Tax waiver on brown rice is meant to reduce its price from Shs 4,500 to Shs 3,000 per kilogramme The good news for rice consumers in Uganda is that if the Ministry of Finance, Planning and Economic Development sticks to its guns to have unprocessed rice commonly known as “brown …

VIDEO: URA explains vehicle registration taxes Motor Vehicle and motorcycle registration fees have for years been a subject of debate, with importers of cars and other properties accusing the tax body of taxing them highly. But the Uganda Revenue Authority Assistant Commissioner field services Stephen Magera, blames their tax burden …

Beijing, CHINA | PSCU| China’s vision of an interconnected world with enhanced trade supports the African desire for shared prosperity, Kenya’s President Uhuru Kenyatta has said. Kenyatta, who spoke during a roundtable summit of Heads of State and Government held at the Yanqi Lake Conference Centre, said Africa stands a chance …