Business

Tokyo, Japan | AFP | Toshiba shares plunged again Wednesday as it warned of a $6.2 billion writedown in its US nuclear power business and announced a probe into possible wrongdoing by the unit’s senior executives. One of Japan’s best-known firms, Toshiba shocked investors Tuesday when it failed to report …

Lagos, Nigeria | AFP | A former head of Nigeria’s state-run oil company is under investigation after almost $10 million in cash was found at a property he owns. The Economic and Financial Crimes Commission (EFCC), an anti-corruption agency, said it had seized $9.8 million (9.2 million euros) from a …

COMMENT: By Alex Turihohabwe Even with high pay, facilitation, professionals who have lived in town fear village life To date every parent would wish his/her child to perform well and join a very competitive school. The competitive schools today include Kings College Buddo, St Mary’s Namagunga, St Mary’s Kisubi, Gayaza …

The office space business in the Rwandan capital Kigali is undergoing remarkable innovations as people dash to beat a March 2017 deadline to vacate offices from residential premises. The directive announced in early January gave businesses and Non-Government Organisations operating in residential premises a three months ultimatum to vacate. City …

Evelyn Cindy Magara is the CEO of Nyati Motion Pictures, a film producing company in Uganda. She spoke to the Independent’s Agnes E Nantaba about the future outlook of the country’s film industry. What are the key elements in your management philosophy as a manager? For a manager in a …

  She started her company with only US$300 generated from jewelry business. The early rural life could have easily ended Rusia Orikiriza Bariho’s business dream. She was born and raised in a remote village of Kabale, South Western Uganda, where the only work she could do was to help her …

Analysts predict a rebound in the market activities this year and so is the surge in prices Trading activities on the Uganda Securities Exchange showed a high decrease in market turnover on Jan.06, registering a 97.2% decline to Shs51million compared with the previous day. The All Share Index modestly increased …

The new investor will renovate the facility to tap into growing country’s tourism sector Rwanda’s hospitality industry has received a major boost after Uganda’s Madhvani Group acquired Umubano Hotel, ending a long-running delay that was hurting the credibility of this facility as well as tourism prospects. The 4- star facility …

President Kagame makes pledge during visit to SEZ President Kagame on Jan.07 toured the Special Economic Zone where he visited four factories manufacturing different products within the ‘Made in Rwanda’ framework. While addressing business people with operations within the Special Economic Zone at the conclusion of the tour, President Kagame …

ATC News by Wolfgang H. Thome: Sheraton – Half a centry to look back at while preparing for the future General Manager Jean-Phillippe Bittencourt has described Sheraton Kampala Hotel as “undoubtedly one of Uganda’s proudest hospitality resource and today still stands tall on the slopes of Nakasero Hill proudly marching towards …