Business

By Patrick Kagenda Finance Minister Syda Bumba will read her maiden budget speech to the nation on June 11, 2009. With an economy hit hard by the global financial meltdown, a depreciating shilling, low exports, spiraling unemployment and biting poverty, the minister will need to pull off a delicate balance …

By James Herron After remarkable exploration success in Uganda, Tullow Oil PLC (TLW.LN) and Heritage Oil Ltd. (HOIL.LN) face tough choices over how to develop the oil they’ve discovered. Both companies face immense infrastructure challenges bringing the oil from its remote region to world markets. They have to walk a …

By Patrick Kagenda New ferry raises Uganda’s hope of sailing big on Lake Victoria Since the defunct Uganda Railways Corporation’s marine vessel MV Kabalega, which sunk on Lake Victoria after a collision with its sister ship MV Kawa on May 8, 2005 and the grounding of both MV Pamba and …

By Independent Team and Agencies But Nigerian competitors say cassava, sorghum beers will fail SABMiller (SAB.L), the parent company of Uganda’s Nile Breweries in Jinja is embarking on a strategy to make beer more affordable. According to a report in the Business Week in the UK, the strategy targets low-income …

By Independent Team & Agencies Contec Global, the company that was once at the centre of the Uganda National ID tender has surfaced in a report condemning the Australian Reserve Bank for involvement in the payment of multimillion-dollar commissions to shady middle-men in its drive to win banknote printing deals …

  By Patrick Kagenda Traders say Central Bank lacks capacity to stop it Following the rapid loss of value of the shilling in the past six months, foreign exchange dealers and traders are questioning the Central Bank’s ability to stop further decline. Asked to comment on Bank of Uganda’s explanation …

By Patrick Kagenda How does your day start? When you are self-employed, or even when you are employed you have to be responsible to the highest level. You have to be committed and determined. By seven o’clock in the morning I am in my office and I am always the …

By Patrick Kagenda Interest payments plunge from 14% to 3 %, inflation hits 15% As the July deadline for the National Social Security Fund (NSSF) to declare the annual interest to its members nears, speculation is mounting that the compulsory saving scheme for all private sector workers could announce a …

By Agencies The African Development Bank (AfDB) Group’s Chief Economist, Louis Kasekende,(left) has said that the Natural Resource Charter – a set of economic principles for governments and civil society organizations, detailing best approaches to managing opportunities created by natural resources for development – would help governments and societies rich …

By Patrick Kagenda BoU says it has no means of forecasting value of currency A top Bank of Uganda official last week confirmed the continuing depreciation of the shilling. Mary Katalikawe, the director for research at the central bank spoke as the world’s leading financial market analysts predicted that the …