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 …
Read More »MTN unveils business solution for enterprise customers
Kampala, Uganda | THE INDEPENDENT | Julius Businge | MTN Uganda under its enterprise arm of MTN Business has launched a first of its kind 3-in-1 offer for businesses in Uganda, it said on Oct.29. The offer is designed to help businesses get more out of their operations with more control …
Read More »Civil society proposals for revamping the economy
Reforms cover public debt, interest rates, taxation and public spending Kampala, Uganda | JULIUS BUSINGE | A group of civil society organisations under their umbrella organization Civil Society Budget Advocacy Group (CSBAG) have presented a list of budget proposals to government that they think can jumpstart the economy that has …
Read More »NIC’s next plan for growth
The insurer is enhancing automation, product innovation and pushing for asset restructuring to drive profitability Kampala, Uganda | JULIUS BUSINGE | Uganda’s oldest insurance firm, NIC Holdings Ltd, plans to ride on new technologies and product innovations to sustain profit growth. Flanked by two other top executives for the company, …
Read More »Xeno reports Shs8bn as assets under management
Kampala, Uganda | THE INDEPENDENT | Julius Businge | XENO Investment Management Limited has reported Shs8bn as assets under management for the year ended December 2019. Speaking at the virtual Annual General Meeting held today (Oct.26) in Kampala, Aeko Ongodia, founder and chief executive officer at Xeno said, the company recorded …
Read More »PostBank embarks on digital transformation journey
But the lender faces an uphill task of looping its customers onto it Kampala, Uganda | JULIUS BUSINGE | Tier II lender, PostBank Uganda, is embarking on a digital transformation journey aimed at decongesting customers in the banking halls, cutting down operational costs and driving profits upwards. This follows the …
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