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Parliament rejects proposed taxes on SACCOs

Kampala, Uganda | THE INDEPENDENT | Parliament has for the second time rejected the proposed corporation tax on Savings Credit and Cooperative Societies-SACCO’s. Government had proposed to levy a corporation tax on Profitable SACCO’s in the 2018/2019 financial year. This is one of the proposals in Income Tax (Amendment) Bill, …

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France to pump 65 million euros into African startups

Paris, France | AFP | France will plough 65 million euros ($76 million) into startups in Africa, President Emmanuel Macron announced Thursday at a technology conference in Paris. Macron made the announcement at the third edition of the VivaTech trade fair, which brings together innovators, investors and entrepreneurs. This year …

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NIC’s remarkable profit growth

Oil and gas, agriculture and bancassurance to define 2018 performance Kampala, Uganda | JULIUS BUSINGE | Uganda’s insurer, National Insurance Corporation Holdings popularly known as NIC, has recorded a remarkable growth in net profits for 2017 owing to an increase in commission and fees, incomes as well as again of its …

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Telcos resume simcard sale

But can tough requirements to own a sim card curb crime? Kampala, Uganda | IAN KATUSIIME | After two months of  public outcry and back and forth negotiations, telecom firms have finally resumed selling sim cards as Uganda’s communications regulator struggles to help security agencies curb mobile phone-assisted crimes. This follows …

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New tactics boost BATU fortunes

Kampala, Uganda | ISAAC KHISA | A rise in price of cigarettes and change in distribution channel have helped British American Tobacco Uganda Limited (BATU) record growth in net profit amidst tough tobacco regulation. Mathu Kiunjuri, the managing director BATU, told shareholders during the Annual General Meeting held at the …

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Museveni, Mutebile disagree on cryptocurrencies

Kampala, Uganda | THE INDEPENDENT | President Yoweri Museveni has hit at Bank of Uganda Governor Emmanuel Tumusiime Mutebile for being dogmatic and unwilling to adapt to technology. The two were speaking during the Africa Blockchain Conference which opened at Kampala Serena Hotel today. The conference, organized by the Blockchain Association …

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