Business

By Patrick Kagenda & Joshua Masinde The year 2009 began with projections of declining economic growth especially in Sub- Saharan Africa as a result of the global financial meltdown. Growth was projected to decline from 7 percent in 2007 to 6 percent in the financial year 2008/09. The economy has …

By Agencies Resurgent mineral exports and foreign investor demand look set to support African currencies in 2010, but an array of local factors, ranging from bad weather to anti-gay legislation, could upset that trend. The region’s high-yielding debt and strong economic growth prospects are likely to lure foreigners into frontier …

By Independent team Experts say Uganda assets undervalued Government to state position on Tullow in January After an initial surge on speculation that its Ugandan assets may fetch a higher price than Eni had offered, Heritage Oil shares on the London Stock Exchange settled lower. Heritage, run by Tony Buckingham, …

By Kelvin Odoobo Rwanda’s fledging stock market is set for a major boost as government prepares to list 25% of its 30% stake in the national brewer BRALIRWA. According to the operations manager of Capital Markets Advisory Council (CMAC), Celestin Rwabukumba, the process of issuing an initial public offer (IPO) …

By Patrick Kagenda Used car prices in Uganda are set to go up following the introduction of the pre-shipment inspection of vehicles at the port of origin. Three companies, Jevic Japan, East Africa Automobiles and Jabal Kilimanjaro were recently contracted for the job by the Uganda National Bureau of Standards …

By Joseph were Long-necked beer bottle named brewer’s 18% growth Questions about why Nile Breweries is battling to retain sole use of the 500 ml long neck bottle on the Ugandan market have finally been answered. The long-necked bottle is one of three factors that Nile’s parent company, SABMIller of …

  By Jocelyn Edwards The man who got Shs 250 billion from selling Uganda’s oil has a ‘deal with him at your own risk’ tag in financial circles The company that may have taken Uganda for a ride in the deals for one of its most valuable resources is headed …

By Mubatsi Asinja Habati The Public Procurement and Disposal of Public Assets Authority (PPDA) has launched an electronic register of providers of procured materials to the government. PPDA Executive Director Edgar Agaba said the e-register will provide details to enable the government to identify local companies and providers who are …

By Patrick Kagenda Hirome Mayanja Sabbehe, the director of Shamila Contractors, was the chairman of the Uganda business community in south Sudan from 2005 to the beginning of 2007. He dealt in human drugs in Malakal in the Upper Nile State of south Sudan. It was here that he met …

By Ariel Rubin A scathing new report issued by the London-based environment and governance watchdog Platform has put government and oil companies under fire. Revealing for the first time one of the production sharing agreements (PSAs) between Heritage and the government, Platform’s analysis reveals that, contrary to oil company and …