Reports estimate that trade-based money laundering costs Uganda over $6.6 billion annually Kampala, Uganda | JULIUS BUSINGE | Financial experts have called for sustained collaboration between Uganda’s public and private sectors to strengthen the country’s anti-money laundering (AML) framework, following its recent removal from the Financial Action Task Force (FATF) Grey …
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The oil and gas industry is inherently high-risk, involving massive investments, operational hazards, and environmental concerns. Kampala, Uganda | JULIUS BUSINGE | The Insurance Consortium for Oil and Gas Uganda (ICOGU) has emerged as a critical player in Uganda’s rapidly evolving energy sector, providing tailored insurance solutions to address the …
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KAMPALA, UGANDA | Julius Businge | Just three months after its launch, the National Social Security Fund’s (NSSF) flagship voluntary savings product, Smartlife Flexi, has surpassed Shs5 billion in savings, with informal sector micro-savers leading the charge. Praised for its flexibility, the product targets informal sector workers and the self-employed, while …
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KAMPALA, UGANDA | Julius Businge | In a bid to promote gender inclusivity in Uganda’s financial markets, the Uganda Securities Exchange (USE), under the leadership of CEO Paul Bwiso, hosted the Ring the Bell for ALL Women and Girls event in Kampala recently. Organized in partnership with UN Women and other …
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Structural defects and contractor delays now threaten Uganda’s energy future Kampala, Uganda | JULIUS BUSINGE | The Isimba Hydropower Dam, a flagship project in Uganda’s energy sector, was envisioned as a cornerstone of the country’s long-term development goals. Commissioned in 2019, the 183MW facility was meant to provide affordable and reliable …
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The telecom firm recorded a 19.5% increase in service revenue to Shs 3.1 trillion, fueled by a 30.5% rise in data revenue and 22.8% growth in fintech earnings Kampala, Uganda | JULIUS BUSINGE | MTN Uganda has delivered a 30.1% surge in net profit to Shs 641.5billion for FY 2024, a …
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Kampala, Uganda | JULIUS BUSINGE | Newly qualified accountants have been urged to uphold ethical values, embrace emerging technologies, and adopt a strategic mindset as they step into the evolving world of finance. Speaking as the chief guest at the Institute of Certified Public Accountants of Uganda (ICPAU) graduation ceremony in …
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Kampala, Uganda | JULIUS BUSINGE | Mumba Kenneth Kalifungwa has officially assumed the role of Chief Executive at Stanbic Bank Uganda, the nation’s largest lender by assets, revenue, and deposits, the lender said in a statement issued today – March 3. His appointment was first announced in December of …
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KAMPALA, UGANDA | Julius Businge | Despite ongoing efforts to curb counterfeit trade in Uganda, significant progress remains elusive due to regulatory bodies’ limited manpower and a lack of consumer awareness. In response to these challenges, the Anti-Counterfeit Network (ACN) has launched the Bleep App, a digital platform designed to …
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The country’s public debt now stands at Shs 93.6 trillion as of June 2024, with 27.4% of domestic revenue earmarked for interest payments Kampala, Uganda | JULIUS BUSINGE | Uganda’s rising debt burden has come under renewed scrutiny as the government prepares the FY2025/26 national budget, projected at Shs 57.4 trillion—significantly …
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The Independent Uganda: You get the Truth we Pay the Price
