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Afrexibank records 25% growth net profit to $275.9million

  Kampala, Uganda | ISAAC KHISA | Pan-African multilateral lender, African Export-Import Bank has released its abridged audited financial statements for the year ended 31 December 2018, showing strong financial and operational performance, with total comprehensive income for the year amounting to $285.4 million. The total comprehensive income reflects a …

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Agriculture tops Uganda’s January loan portfolio

Kampala, Uganda | THE INDEPENDENT | Agriculture might be finally catching financiers’ eye, with money disbursed to farmers topping all other sectors in January, according to official figures. Statistics from the Finance and Economic Development Ministry show that agriculture received 28% (Sh 283bn) of all loans disbursed in January up …

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City trader’s case fails to take off

  Kampala, Uganda | THE INDEPENDENT | Hearing of a case filed by traders operating on contested commercial buildings in Kampala failed to take off on Monday as the respondents sought leave to file more affidavits and cross examine the applicants. More than 292 city traders ran to the Civil …

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“Army will not allow Sudan to fall into chaos”

  Khartoum, Sudan | AFP |  Sudan’s armed forces will not allow the country to “fall into chaos,” Defence Minister General Awad Ibnouf said Monday as thousands of anti-government protesters demonstrated outside the military’s headquarters in Khartoum for third straight day. “Sudan’s armed forces understand the reasons for the demonstrations …

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TRUMP: Uganda must find kidnappers of American tourist

Museveni vows ‘Uganda is safe’ after tourist kidnap Kampala, Uganda | THE INDEPENDENT | US President Donald Trump has demanded that Uganda must find the the kidnappers of American Tourist Kimberly Endicott. Although he welcomed Sunday’s release of the American held last week in Queen Elizabeth National Park, Trump said tourists will not …

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FDC asks Mao to apologise to Besigye

Kampala, Uganda | THE INDEPENDENT | The Forum for Democratic Change (FDC) has demanded that Democratic Party (DP) President Norbert Mao apologises to Dr. Kizza Besigye for attacks during last week’s DP Block agreement signing event. DP on Thursday, last week held an event to sign a memorandum of understanding …

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Gov’t promises Makerere sh30 billion as SIDA research deal ends

Kampala, Uganda | THE INDEPENDENT | Makerere University will be able to sustain its research programmes after government promised to allocate a new sh30billion fund in the 2019/2020 financial year to support it. This follows the end of a 20-year collaborative partnership between Makerere University and the Swedish International Development …

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ECONOMISTS: Overshooting govt expenditure will distort planning

Kampala, Uganda | THE INDEPENDENT | Economists have warned against over running government budgets saying the move will distort government’s planning processes. Recently, the Ministry of Finance, Planning, and Economic Development (MoFPED) released the Economic Performance report for January 2019. The report revealed that government spent Shs1.286 trillion instead of …

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