Business

Commodity, tourism dependent economies likely to remain vulnerable over the next 12-18 months | THE INDEPENDENT | Uganda’s commercial banks have recorded a sharp drop in the outstanding restructured loans from Shs7.7trillion in June to Shs4.8trillion in Dec, 2020, signaling improvement in the borrower’s ability to meet their loan obligations, …

  What the company plans for years to come Kampala, Uganda | JULIUS BUSINGE | MTN Uganda recorded 9.5% surge in revenue to Shs1.98 trillion in 2020 amidst the effects of COVID-19, citing a sharp growth in customer subscribers. The company’s subscriber numbers increased by 12.3% to 14.2 million, up …

  Kampala, Uganda | THE INDEPENDENT | Electricity Company Umeme Ltd has posted a net profit of 41.1 Billion Shillings from its 2020 operations. This is a decline of 69% from the 139.2 Billion Shillings it recorded in the year 2019.  The huge fall in the profits is largely attributed to …

  Moroto, Uganda |  THE INDEPENDENT | Moroto main market has continued lying idle even after its completion due to an  uninstalled solar lighting system and unfinished construction of a parking yard that has prevented the Municipal authorities from allowing traders to use the market. The construction of Moroto market commenced in …

Amuru, Uganda | THE INDEPENDENT | The business community and road users in Lango and Acholi sub-regions are excited following the completion of the Awoo-Tochi Bridge in Omoro District.   For about six decades, locals in the area temporarily patched the bridge with wood logs and pieces of timber to facilitate trucks …

Isingiro, Uganda | THE INDEPENDENT | Drought and the outbreak of foot and mouth disease have led to a sharp rise in the prices of milk. In the districts of Isingiro, Sembabule, Kazo and Kiruhura, farmers have seen their incomes plummet as they have nowhere to sell the milk.   Many are …

Gulu, Uganda | THE INDEPENDENT | Papyrus mat makers in Gulu City are worried that they may soon lose their source of livelihood iF the drastic encroachment on wetlands is not checked. The fear follows the continued encroachment on wetlands by farmers who have opened up several gardens in the swamps, …

Kampala, Uganda | JULIUS BUSINGE  | The 10th NSSF-Monitor Career Expo is set to begin tomorrow and will go on for three days virtually, the NSSF Managing Director Richard Byarugaba and Nation Media Group Uganda Managing Director Tony Glencross told reporters earlier today (March 23).  The two executives said COVID-19 pandemic preventive …

Kampala, Uganda |  JULIUS BUSINGE  | KCB Bank Uganda Limited, has appointed Ramla Nantongo, a seasoned banker, as head corporate banking.    She joins KCB Bank from NCBA Bank (formerly NC Bank) where she was heading the Corporate and Commercial business units. Her appointment comes a week after Agnes Namyalo …

Kitgum, Uganda | THE INDEPENDENT | A Chinese firm, China Railway 18 Bureau Group Co Ltd has been approved as the contractor to undertake 2.9km road construction under Uganda Support to Municipal Infrastructure Project-USMID. This was after the contractor emerged as the best-evaluated bidder during a three weeks’ long evaluation exercise for …