Business

  Kampala, Uganda | THE INDEPENDENT |  The Deposit Protection Fund (DPF) has completed the payment of individually protected depositors of the closed EFC Microfinance Uganda. Last month, the Bank of Uganda placed EFC Uganda Limited under liquidation, revoked its license, and ordered the winding up of its affairs, citing a …

  Kampala, Uganda | THE INDEPENDENT |  Uganda Breweries Limited (UBL) has unveiled WhiteCap Crisp – a one of a kind premium beer with only 3% alcohol by volume (ABV), with no added sugar – making it the first light beer by ABV in the Ugandan market. The beer was …

Kampala, Uganda | THE INDEPENDENT | On Jan.30, Centenary Bank announced the launch of its latest innovation, CenteWhatsApp banking designed to provide customers with convenient and secure access to a wide range of banking services directly through the widely used messaging platform, WhatsApp. To access CenteWhatsApp banking, customers are required to …

Kampala, Uganda | THE INDEPNDENT | To stimulate economic activity, Stanbic Bank Uganda announced a new lending campaign dubbed Oli Sorted, aimed at facilitating Ugandans to access affordable credit to finance their personal and commercial needs. Israel Arinaitwe, the Head of Personal Banking at Stanbic Bank said after the last quarter …

African states are riding the wave of a gold rush, with global prices stabilising and mining technologies advancing. Here are the continent’s ten largest gold-producing powerhouses per tonnage (t), according to the World Gold Council’s 2022 stats. 1. Ghana – 127th Known as the “Gold Coast”, Ghana is Africa’s largest …

Trade experts recognize progress made but express dissatisfaction with existing trade and investment policies Kampala, Uganda | ISAAC KHISA | In the late 1990s, the Ugandan government came up with the idea of establishing specialized zones dedicated to industries, commonly known as industrial and business parks, where local and foreign investors would …

Jinja, Uganda | THE INDEPENDENT | The Minister of state for trade, industry and cooperatives, David Bahati has assured farmers of stable prices in the newly tabled sugar amendment act. While addressing journalists in Jinja city on Saturday, Bahati says the existing sugar act had depicted sugarcane prices to be dependent …

BEIJING | Xinhua | China has remained Africa’s largest trading partner for 15 consecutive years, with bilateral trade reaching a record 282.1 billion U.S. dollars in 2023, a Ministry of Commerce official said on Wednesday. “Economic and trade cooperation is the ballast and propeller of China-Africa relations,” said Ministry of …

Kampala, Uganda | THE INDEPENDENT | The State House Investors Protection Unit (SHIPU) has been asked to rein in investors and government officials who break laws and investment procedures. This was during a meeting between the Head of the State House Investors Protection Unit, Col. Edith Nakalema, and communication officers …

Johannesburg, South Africa | THE INDEPENDENT |  Absa Group has announced its physical expansion into the People’s Republic of China with the opening of a new non-banking subsidiary in Beijing. The non-banking subsidiary is now open, with the official launch event in Beijing, scheduled for 8 May 2024. At a …