Friday, 15 March 2013 13:52
By Aloysious Kasoma
Fraud, unpaid claims rampant as Uganda loses Shs 250bn in premiums every year
It is easy to explain why Uganda’s insurance penetration stands at just 0.65% - one of the lowest in the region. According to the 2011 industry performance report, this figure is far lower than Rwanda’s 2.3%, Kenya’s 2.76% and Tanzania’s 2.2%.
The business community - the biggest supporter of the insurance industry in other countries - continues to shun it in Uganda. In down-town Kampala in Kikuubo, a hub of trading businesses worth millions of dollars, insurance is considered nothing but a luxury or even an inconvenience that many say they can gladly do without.
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Friday, 15 March 2013 12:50
By Julius Businge
 Shareholders wary of niggling constraints as power distributor tables Shs 1 trillion capital investment plan
In his light-blue shirt and dark blue neck tie, Charles Chapman, Umeme’s managing director, cuts a confident figure that belies the pressure he is clearly under.
Chapman, along with his jun [ … ]
Friday, 15 March 2013 12:45
By Julius Businge
 World Bank report projects $1 trillion food market in Africa by 2030
A new report by the World Bank has called for new strategies on how to help Africans seize the continent’s agribusiness opportunity. The report, titled, “Growing Africa: Unlocking the Potential of Agribusiness,” says Africa’s food [ … ]
Friday, 15 March 2013 05:28
By Julius Businge
Bank of Uganda has urged bank customers to utilise the consumer protection guidelines put in place by the central bank so as they make informed decisions.
Speaking to participants at the official opening of the banking, finance and insurance Expo 2013 at Uganda Manufacturers Association grounds on March 14, Justine Bagyenda, the executive director supervision at BoU said failing to understand the guidelines was a danger to businesses.
Monday, 11 March 2013 09:20
By Joan Akello & Julius Businge
 Robert Shemin, the American billionaire and businessman, was recently in Uganda to give business tips to CEOs and young entrepreneurs. He spoke to The Independent’s Joan Akello and Julius Businge about his plans for Ugandans.
What prompted you to come to Uganda?
I speak all over the world, but fo [ … ]
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Monday, 11 March 2013 09:16
By Julius Businge and Priscilla Muhairwe
 Investment in hotels up, but players call for new strategies if sector is to support national development
Between February 26-27, Sheraton Kampala Hotel was 100% booked for guests and conference facilities, a visibly excited top official told The Independent.
In an interview, Chris Pollard, the ho [ … ]
Monday, 11 March 2013 09:11
By Joan Akello
Power demand to outstrip supply in 2014, delayed Karuma to cost Uganda $95m annually
Bottlenecks in the procurement process for the Karuma 600 mega watt (MW) hydro power dam project are causing anxiety as experts consider its likely impact on the economy in light of the increasing energy demand in the country.
Karuma hydro power dam procurement process was supposed to have been concluded as early as March last year. However, a year later, it is still dogged by allegations of impropriety and whistleblowers’ complaints that culminated in court petitions and the Inspectorate Government (IGG) halting the process citing bribery and corruption in the process.
Thursday, 07 March 2013 13:54
By Julius Businge
The Ugandan shilling traded in a narrow range during the week up to Thursday, March 7 with mild activity in the market where the main focus has been the political developments in neighboring Kenya.
Standard Chartered Bank’s financial markets department said in a statement dated March. 7 that the unit traded in the 2645-55 range per US dollar, with muted interest despite the Central Bank maintaining the bank rate at 12% citing price stability.
Friday, 01 March 2013 08:11
By Feliciah Kanyesigye
 Dfcu, CMA launch effort to spearhead youth investment for poverty reduction
At Kisaasi, a Kampala surburb, stands a beautiful school. Its beauty is only known to those who have made a trip there. With about seven structures that include classroom blocks, dormitories, dining hall and the administra [ … ]
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Business
