The company continues to demonstrate resilience amidst a challenging operating environment, characterised by a high prevalence of illicit trade Kampala, Uganda | JULIUS BUSINGE | Cigarette seller, British American Tobacco has reported a reduction in net profit from Shs9.8bn for the year ended December 2022 to Shs8.9bn for the year ended …
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This development is anticipated to lead to a decline in cement prices, which have risen from Shs 28,000 in 2018 to currently exceed Shs 33,000, varying by manufacturer and application Kampala, Uganda | JULIUS BUSINGE | Uganda has granted a 21-year Large-Scale Mining License LML0344 to Sunbird Resources Limited to mine …
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Kampala, Uganda | JULIUS BUSINGE | On Feb.22, NCBA Bank unveiled its revamped Premier Banking offering, targeting premier banking customers, prospects, and high-value stakeholders. The key features of the enhanced offering include extended banking hours at select branches, allowing customers to enjoy greater convenience. Additionally, customers now have access to online …
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Kampala, Uganda | JULIUS BUSINGE | On Feb.9, a total of 99 women entrepreneurs from Kampala, Lira, and Fort Portal successfully graduated from the 7th cohort of the Academy for Women Entrepreneurs (AWE) Program. This remarkable achievement, supported by the U.S. Embassy in partnership with SHONA Group, underscores a collective commitment …
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There’s a need for enhanced liquidity in domestic markets to foster economic growth and socio-economic transformation Kampala, Uganda | JULIUS BUSINGE | Uganda has preserved its fourth-place ranking in the Absa Africa Financial Markets Index for 2023, despite a slight decrease in its overall score from 64.4 to 62.8. The index, …
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Uganda’s private sector constitute of about 90% SMEs generates over 75% of the GDP Kampala, Uganda | JULIUS BUSINGE | Uganda Development Bank, the country’s national Development Finance Institution, has signed a Loan Portfolio Guarantee agreement with the African Guarantee Fund (AGF), to scale up lending to SMEs, Women, Youth-affiliated businesses, …
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Kampala, Uganda | JULIUS BUSINGE | Halfway through the recently launched whistleblower campaign, a nationwide drive aimed at encouraging workers to report employers defaulting on NSSF contributions, the Fund has unearthed over Shs70 billion from reported cases, it said in a notice. Figures released by the Fund recently indicate that …
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Energy Minister Ruth Nankabirwa shares progress on the refinery, EACOP, and related projects Kampala, Uganda | JULIUS BUSINGE | Uganda’s oil and gas sector has received a comprehensive update on the progress of key projects, including the refinery and the East African Crude Oil Pipeline (EACOP), during a briefing by Energy Minister …
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The company’s financial performance for the fiscal year 2022/2023 demonstrated robust growth, with a remarkable 63% increase in revenue, reaching Shs343.7 billion Kampala, Uganda | JULIUS BUSINGE | State-owned Uganda Electricity Generation Company Limited (UEGCL) is poised for transformative growth and sustainability as it implements its strategic plan for the period …
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Embrace sustainable practices not just for today’s bottom line, but as a strategic investment Kampala, Uganda | JULIUS BUSINGE | Insurance players have been urged to embrace the aspect of sustainability in their operations to positively impact communities, the environment, and related fields in their business. “In the realm of insurance, …
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The Independent Uganda: You get the Truth we Pay the Price