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Vitafoam mattress store, processing plant razed to ashes

Jinja, Uganda |  THE INDEPENDENT |  The fire which gutted vitafoam mattress factory in Njeru Municipality Buikwe district on Monday morning ruined the main mattress production departments at the plant. Although police and the factory management have not yet ascertained the cost of damages caused by the fire, a store with …

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NAADs starts verification of Atiak sugar project beneficiaries.

Amuru, Uganda |  THE INDEPENDENT | The National Agricultural Advisory services- NAADs has embarked on a two-weeks verification of the Atiak Sugar Project beneficiaries’ exercise. The exercise targeting about 2,500 farmers from Amuru, Lamwo, Gulu and Adjumani districts under Gem Pacilo cooperative Society started today and is expected to end by …

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Uganda’s mobile money transactions hits Shs 80trillion

  Kampala, Uganda | Isaac Khisa | Uganda’s mobile money transactions grew by 19.3% to Shs 79.8 trillion for the year ending June.30, according to Michael Atingi-Ego, deputy governor, Bank of Uganda. Atingi, who was speaking during the Uganda Bankers Association retreat at the Kampala Sheraton Hotel on Sept.22, said out …

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Telecom firms quarterly revenues cross Shs1tn mark

But there was an increase in expenses on input and wholesale services, salaries and taxes Kampala, Uganda | ISAAC KHISA | Uganda’s telecom sector has posted the highest total quarterly revenues on record, crossing the Shs1 trillion mark amidst the ravaging coronavirus pandemic, according to the latest Uganda Communications Commission …

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Tullow under debt pressure

Oil and gas explorer says ‘potential liquidity shortfall’ threatens ability to pass lenders’ test | THE INDEPENDENT | Tullow Oil plc has warned it risks defaulting on a debt facility if it does not resolve a potential liquidity shortfall, as it slumped to a $1.4 billion pre-tax loss for the …

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Uganda’s exports up but trade deficit grew higher

Kampala, Uganda | THE INDEPENDENT | Uganda has lost the trade deficit it had recorded against the European Union in July as imports of merchandises grew faster than the exports to the same region. Both exports and imports dropped sharply in April 2020, the first month of the lockdown that …

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