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Business news

Govt rejects proposal to export Sugarcane to Kenya

  Kampala, Uganda | THE INDEPENDENT | Government is opposed to the proposal to export unprocessed raw materials such as sugar cane. The Trade, Industry and Cooperatives Minister Amelia Kyambadde stated this while presenting a statement to parliament on the issue of excess sugar cane in Busoga sub-region. Kyambadde told …

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Game console makers oppose China tariffs

Washington, United States | AFP | Game console makers Microsoft, Sony and Nintendo have joined forces in opposing expanded tariffs on China, saying the plan would make their products unaffordable for the coming holiday season. In comments filed with the US Trade Representative, the three firms said President Donald Trump’s threat …

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Tullow considers selling all its assets in Uganda

Kampala, Uganda | THE INDEPENDENT | Tullow Oil is considering selling all its assets in Uganda as the firm down tax dispute rages on. The Irish company, which also owns Tullow Operations Uganda, has hinted on the slow progress towards resolving a Capital Gains tax dispute on the USD 900 million …

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Tullow Oil releases statement on Uganda

Kampala, Uganda | THE INDEPENDENT | Tullow Oil PLC has released a statement in advance of the Group’s Half Year Results, indicating it is struggling to reach a farm-down agreement. “Tullow and its Joint Venture Partners, have, so far, been unable to finalise this agreement with the Government of Uganda. We continue …

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Roscongress, Afreximbank and REC sign agreement to promote trade

Moscow, Russia | Isaac Khisa | As part of the Russia–Africa Economic Conference in Moscow, Russia, the Roscongress Foundation, African Export-Import Bank (Afreximbank), and the Russian Export Center (REC) on June.21 signed an agreement to cooperate on establishing effective communication between expert communities and business circles in the Russian Federation and …

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Afreximbank launches strategy for export trading companies

Moscow, Russia | Isaac Khisa | The Afreximbank Strategy for Export Trading Companies was launched in Moscow on June 20, during the open Russia–Africa Economic Conference, part of the Afreximbank Annual Meetings with the support of the Roscongress Foundation and Russian Export Center. The panellists included Managing Director of Afreximbank Intra-African …

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Money Talk Symposium

NSSF, experts tell members to save beyond the 5% they remit monthly   Kampala, Uganda | JULIUS BUSINGE | Do you spend less and invest more of your income a head of your retirement? Will you have enough monetary resources upon retirement? Will there be any impact upon taking your …

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Rethinking tax incentives

Researches, experts say there is limited evidence to show these offers attract investors Kampala, Uganda | PATRICIA AKANKWATSA | Tax incentives are part of Uganda government’s top priorities for attracting foreign investors and new businesses. From prospective investments in agribusiness to hospitality, and from steel to textile industries, tax incentives …

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KADAGA: Parliament’s hands tied on UTL

  Kampala, Uganda | THE INDEPENDENT | Both parliament and the executive can’t take any unilateral decision on the administration of Uganda Telecom Limited (UTL), Speaker of Parliament Rebecca Kadaga has ruled. She made the ruling during plenary on Tuesday in response to last week’s request by Aringa South MP, …

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