Kampala, Uganda | THE INDEPENDENT | The Speaker Jacob Oulanyah has urged Uganda Development Bank (UDB) to reduce its lending rate from 12 percent saying that access to affordable loans by majority of Ugandans is a key driver of socio-economic transformation. He made the remarks while meeting with the Board of …
Read More »Private healthcare providers cast doubt on UDB credit
Kampala, Uganda | THE INDEPENDENT | Private healthcare professionals have said that the directive by President Yoweri Museveni to add them to the list of businesses that can benefit from the credit facility under Uganda Development Bank (UDB) is not a solution to their financing problems. Over the weekend, President Museveni …
Read More »UDB profit after tax up 118%
More funding, capitalisation of the bank coupled with increase in loan disbursements supported the growth in 2020 Kampala, Uganda | JULIUS BUSINGE | Uganda Development Bank Limited has realised a profit after tax for the year 2020 of Shs22bn, representing a 118% growth from Shs10.4bn reported in 2019 amidst the …
Read More »Which SMEs have accessed COVID-19 stimulus package?
Many have attempted to apply for the funds but failed to get it Kampala, Uganda | JULIUS BUSINGE | Lilian Alinda is the proprietor for a two-year old company, Moment Fashions & Films Limited located in Kayunga along Gayaza Road. When government announced a total national lockdown in March last …
Read More »Tour operators asked to formalize businesses
Kampala, Uganda | THE INDEPENDENT | Tourism sector players have been advised to formalize their businesses and register them with the Uganda Tourism Board if they are to benefit from government programs. Since September, sections of players have been crying out over a rescue package jointly provided by the government and …
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 »UDB receives applications for tourism sector grant
Kampala, Uganda | THE INDEPENDENT | The Uganda Development Bank-UDB has so far received 41 applications from tourism operators seeking to access funds to recover from the effects of Covid-19. In July, the Ministry of Tourism negotiated a 6M Euro (25.2 billion) stimulus package from the EU towards the private …
Read More »Pearl Dairy 5 year growth projection
New markets, increased consumption, and stable EAC economy will boost returns, company executives say Kampala, Uganda | JULIUS BUSINGE | Executives at Pearl Dairy Farms Limited expect a boom in business in the next five years supported by an increase in milk consumption, new markets and the easing of trade …
Read More »Hotel owners engage EU ambassadors on COVID-19 losses
Kasese , Uganda | THE INDEPENDENT | Lodge owners and tourism operators have appealed to the European Union (EU) delegation in Uganda to consider clear accessibility of the Euro 6 million grant (25.2 billion Shillings) that was recently extended to support the private tourism sector. The EU ambassadors were on …
Read More »Employee not liable to clear loan if wrongfully fired – Court rules
Kampala, Uganda | THE INDEPENDENT | An employee whose loan is guaranteed by the employer to be recovered from their salary but is wrongfully dismissed from their job is not liable to pay the loan, the court has ruled. The Court of Appeal upheld an earlier ruling by the Industrial …
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