The planned construction of Muzizi Hydro power Project is soon taking off following an agreement signed between the government of Uganda and funding partners; German development bank (KfW) and French Development Agency (AFD). KfW will provide a concessional loan of € 40 million (US$42.4million) and a grant of € 5 …
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Trade will be key on the agenda when Egypt’s president Abdel Fattah al-Sisi arrives in Kampala on Sunday for a one-day official visit to Uganda. Sisi, here on the invitation of President Yoweri Museveni, will be accompanied by a trade delegation from Egypt and will hold bilateral talks and joint press …
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Paris, France | AFP | President Joseph Kabila and his family in the Democratic Republic of Congo have created a personal economic empire worth hundreds of millions of dollars, the Bloomberg News agency reported Thursday. “Together the Kabilas have built a network of businesses that reaches into every corner of …
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VIDEO: The Central Bank has once again eased the Central Borrowing Rate by one percentage point to 12 percent. According to Professor Emmanuel Mutebile, the Central Bank governor, the reduction is aimed at keeping the domestic economic growth momentum and inflation in check. Inflation has slightly picked up in the past …
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Abuja, Nigeria | AFP | Nigeria’s President Muhammadu Buhari proposed Wednesday a multi-billion dollar jump in spending designed to lift the nation out of the “most challenging economic situation” in its history. He pitched his NGN 7.3 trillion budget ($23 billion) proposal for 2017 — a 20 percent boost over …
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Washington, United States | AFP | Amazon announced Wednesday it was extending its on-demand video streaming service to more than 200 markets, stepping up its challenge to Netflix as a global television network. The US online giant said its Prime Video would be available in “more than 200 countries and …
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VIDEO: The Uganda Sugar Manufacturers Association has attributed the sudden increment in the retail price of sugar to the shortage of sugarcane due to concentration of all manufacturers in one part of Busoga. The concentration has increased competition for canes – leading to most factories producing below capacity. NBS’ Sam Paul …
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South Africa’s Steinhoff and Shoprite to form retail giant Johannesburg, South Africa | AFP | South African retail giants Steinhoff International and supermarket group Shoprite Holding Wednesday said they were in talks to merge their African operations to form a single company worth over $14 billion. The companies said in …
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WBS TV will cease to operate as a public broadcaster on December 14, 2016 because of failure to repay a sh7billion tax debt, a source has told The Independent. A statement signed by Kabiito Karamagi, the Receiver/Manager appointed by Uganda Revenue Authority to try and rescue the TV, confirmed the …
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She has dressed Oscar-winning actress Lupita Nyong’o and Uganda’s chess Woman Candidate Master Phiona Mutesi for the premiere of ‘Queen of Katwe’. She has also designed several Miss Uganda and Miss Tourism contestants among others. Yet Brenda Niwagaba Maraka, who is undoubtedly among Uganda’s top fashion designers, describes herself as …
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The Independent Uganda: You get the Truth we Pay the Price