The Independent Uganda: You get the Truth we Pay the Price
Top executives at PSFU, Centenary Bank and NSSF share ideas Kampala, Uganda | JULIUS BUSINGE | These are tough times. New strategies have to be designed and implemented by business managers to achieve success during and post-COVID-19 era. This was the general message that came out of the speeches of …
Read More »2020 Economic Mkutano
Discussions centres on how to finance local governments Kampala, Uganda | JULIUS BUSINGE | Optimal funding to local governments is key for the growth of local economies that feed into the national economy, according to David Bikhado Ofungi, the founder and chief executive officer of DERO and curator of the …
Read More »Cipla loss increase to Shs16bn
A jump in cost of sales, administrative expenses largely to blame for the bad performance Kampala, Uganda | JULIUS BUSINGE | Shareholders of Cipla Quality Chemical Industries Limited will again wait to receive dividends after their company reporting Shs16bn net loss for the first six months ended Sept.30 compared to …
Read More »UEGCL unveils Shs15bn projects in communities around Isimba dam
They are designed to mitigate increased pressure on local social infrastructure, social services, livelihoods and natural resources Kampala, Uganda | JULIUS BUSINGE | Uganda Electricity Generation Company Limited has commissioned the 183MW Isimba Hydropower Station Community Development Action Program (CDAP) Phase I works that commenced in December, 2018, in Kayunga …
Read More »Surging interest rates could slow economic recovery
Lending to be directed to sectors crucial to socio-economic development including SMEs, trade, industry and agri-business Kampala, Uganda | JULIUS BUSINGE | Interest rates have risen over the past two quarters this year but commercial bank executives say current levels are still fair to both lenders and borrowers. The latest …
Read More »Blow to URA as interest paid to pensioners is now tax exempt
The taxman had expected to collect Shs42.5bn in principal and penal tax from NSSF contributors Kampala, Uganda | JULIUS BUSINGE | It became official on Nov. 02 that the National Social Security Fund will not be remitting income tax to Uganda Revenue Authority on the interest rate that it pays …
Read More »UEDCL revenues jump to Shs70bn
Technology, network expansion and investments in a new pole plant will drive revenues up going forward, executives say | JULIUS BUSINGE | Uganda Electricity Distribution Company Limited has reported a sharp rise in revenue from Shs54bn in FY2017/2018 to Shs70bn in FY2018/2019 citing increased electricity network in rural areas. Paul …
Read More »2020/2021 election economy
Tough times ahead as miscalculated spending, political activities and coronavirus threaten fast recovery of economic activities Kampala, Uganda | JULIUS BUSINGE | Uganda’s economy has been on a recovery path following the easing of COVID-19 pandemic lockdown restrictions, but the uncertainty surrounding the upcoming general elections is the latest concern, economists …
Read More »Xeno assets jump to Shs8bn
Number of investors almost reach 1, 000 in just three years of business Kampala, Uganda | JULIUS BUSINGE | XENO Investment Management Limited has reported a Shs8bn as assets under its management for the year ended December 2019, signaling a growing interest in equity investments among the population. Aeko Ongodia, …
Read More »PSFU partners with Mastercard Foundation to support COVID-19 fight
Kampala, Uganda | THE INDEPENDENT | Julius Businge | The Private Sector Foundation Uganda (PSFU) in partnership with Mastercard Foundation through the COVID-19 Economic Recovery and Resilience Response Program (CERRRP) managed at PSFU has handed over personal protection equipment among other items to complement the efforts of the Government of Uganda …
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