Business

Nairobi, Kenya | THE INDEPENDENT | The Uganda National Oil Company – UNOC will effective May 2024 start importing petroleum products into the country. This is after the Kenyan government agreed to award it a certificate of incorporation, the Minister of Energy and Mineral Development has said. It follows a …

Nairobi, Kenya | THE INDEPENDENT |  Equity Group Holdings has proposed a record dividend of Kshs.15.1 billion for a second year running. While releasing the 2023 full year financial results Dr. James Mwangi, Group Managing Director and CEO said. “The Kshs. 4 per share dividend amounts to a 36% payout of …

Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda has refuted claims that its tough regulatory requirements are leading its regulated financial institutions to downgrade to ease the regulatory pressures on them. This comes as the regulator (BoU) notified the public that three commercial banks (Tier I) had been downgraded …

Kampala, Uganda | THE INDEPENDENT | Stanbic Bank Uganda has this morning announced the appointment of Samuel F Mwogeza as its Interim Chief Executive, and Barbara Dokoria as Interim Executive Director effective April 1, 2024, until substantive appointments for the positions are made. The interim appointment of Mwogeza, who is …

INTERVIEW | SARA BYALA | A new book called Bottled: How Coca-Cola Became African tells the story of how the world’s most famous carbonated drink conquered the continent. It’s a tale of marketing gumption and high politics and is the product of years of research by critical writing lecturer Sara Byala, …

COMMENT | VALERY OKECHO | Public-private partnerships are not merely advantageous; they are indispensable in addressing pressing societal issues, with road safety awareness being a prime example. When government entities and private enterprises collaborate, they bring together resources, expertise, and networks to tackle complex challenges effectively. This synergy is crucial …

ROME, ITALY | Xinhua | U.S. electric vehicle maker Tesla is in talks with the Italian government to open a production facility in the country, Italian media reported Tuesday. Tesla has been engaged in talks with the Ministry of Enterprises and Made in Italy for several months, with the plan …

Kwania, Uganda | THE INDEPENDENT | The production department in Kwania district is actively promoting the adoption of small-scale irrigation systems among farmers to mitigate the adverse impacts of climate change. This initiative, known as Micro-scale irrigation, is a government program aimed at supporting farmers in acquiring and utilizing individual irrigation …

Kampala, Uganda | THE INDEPENDENT | The government programs continue to be impacted by financial pressures this year, amidst dwindling low-cost financial sources and plans to reduce commercial borrowing. This is a spillover from the large (5.5 percent of GDP) fiscal deficit in 2022/2023 was larger than planned, due to a …

Limited skilled manpower, inadequate financing, extended payment cycles, and geopolitical tensions continue to impact the sector a head of oil production Kampala, Uganda | THE INDEPENDENT | Following the Final Investment Decision (FID) announcement in Feb, 2022, the Petroleum Authority of Uganda (PAU) has approved contracts worth US$7.16 billion in the …