Tag Archives: Business

Following a series of speculative social media posts, Nakumatt Holdings has come out to say that “despite a number of unforeseen business challenges”, they are undertaking reforms and seeking financing that will stabilize their operations across East Africa. “We wish to reassure all our stakeholders that the business is solid despite …

The 10th EAC-COMESA-SADC Tripartite Committee of Senior Officials for Trade, Customs, Finance, Economic matters and Internal Affairs meeting opened in Nairobi, Kenya on Tuesday to resolve issues that remain outstanding before the implementation of the Tripartite Free Trade Area. Delegates from 26 member countries of the three African regional economic communities …

London, United Kingdom | AFP | Britain’s Independent newspaper said Thursday it had returned to profit for the first time in more than 20 years, after ditching its print edition and going exclusively online. The left-leaning paper published its final print edition in March, the latest shake-up for the British …

Unfavourable economy forces NSSF to cut interest rate for first time in six years For every Shs 1 million you have saved with the National Social Security Fund (NSSF), Shs 123,000 has already been credited to your account as interest payment. Of course this is lower than the Shs 130,000 …

Nile Breweries Ltd have been hailed as excellent taxpayers and named the Excel Award winners as Uganda Revenue Authority celebrated their Silver Jubilee on Saturday. The Jinja-based brewers have contributed over sh1.8 trillion to government revenue from1998 to June 2016. URA commended Nile Breweries for their organized record keeping, prompt filing and their …

UEGCL: Company injects Shs 500bn into Karuma, Isimba dam construction The Uganda Electricity Generation Company Ltd (UEGCL) has finally broken its longstanding loss-making trend and registered a substantial profit. According to their 2015 performance report issued at the annual general meeting on Sept.15, the company announced a net profit of …

The middle income outlook will depend on what Uganda will do to wake up the population to be productive and be consistent at it. The target for middle income is 2020 but right now 68% of our population comprises peasants. We are hoping each one of them will be having $1,050 as …

DFCU Bank shareholders are hopeful that 2016 will be good following the release of their company’s half year 2016 un-audited financial statements, which have indicated a Shs 9.6 billion increase in profit compared to the same period last year. According to the financial performance for the first half of the …

 Government moves to get South Sudan pay up multi-million dollar debt to Ugandan traders Over the last nine years, Appolo Nyagamahe, the proprietor of the Aponye Enterprises, has been going through a period of bitterness. Since 2008, he has suffered the ordeal of being forced to liquidate some of his …

Second-hand ban strategy: A peep into alternatives to banning importation of second-hand clothing Trade in second-hand clothing is big in Uganda. In markets and shops in most towns and villages, trade in second-hand clothes improves people’s access to clothing, supports livelihoods, and contributes to national and local government tax revenue. Now, …