Business

By Patrick Kagenda What is your day like? I am a religious man, I wake up at 5 am in the morning, have a short prayer; go to the gym, and by 6:30 am, tea is ready on my breakfast table. I personally arrange for my kids to take them …

By Magnus Mazimpaka On May 10, former British Prime Minister Tony Blair and his team had a luncheon with President Paul Kagame at state house in Kigali. Later, at a joint press briefing on Blair’s third visit to Rwanda, President Kagame told journalists that he was happy to have ”ur …

By Magnus Mazimpaka Rwanda increased its spending by 24%, the raise mainly acting as a stimulus package to protect the economy against the current global financial crisis. Expenditure increased to Frw838 billion this financial year 2009/10 from Frw674 billion last year. There was a slight increase of Frw26 billion from …

By Patrick Kagenda As Zain (U) last week launched its Zap Mobile Commerce, a mobile phone based money transfer servicein Uganda in partnership with Standard Chartered Bank, in neighbouring Kenya Safaricom was launchinga similar service, Hello Money in partnership with Barclays Bank (K) Ltd. In Uganda, Standard Chartered Bank becomes …

By Joseph Were Libyan companies pressure Shell, Total This month, the Kenya Petroleum Refinery Ltd in Mombasa is set to close for routine maintenance. As a result, Uganda could suffer disruptions in supply. The Mombasa refinery shutdown also comes at a time of significant developments in the fuel sector. Top …

By Patrick Kagenda The along awaited oil pipeline could be complete by the end of the year if everything goes according to plan. The Independents Patrick Kagenda talked to the State minister for Energy, Simon D`ujanga on the progress made. There are many types of Tamoil i.e. Tamoil Libya, Tamoil …

By Agencies It appears that Heritage Oil Ltd. is the subject of a takeover once again. According to a recent release issued by the company it is in preliminary discussions with a third party regarding a possible merger which would be treated as a reverse takeover under the Listing Rules …

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 …