Business

Kampala, Uganda |  THE INDEPENDENT | The Central Bank has rejected the Government’s plan to borrow up to 4.3 trillion Shillings from the domestic market to fund the supplementary budget expenditure of 6.5 trillion Shillings.  The matter came up when officials from BoU, the Private Sector Foundation and Uganda Bankers Association …

Reforms cover public debt, interest rates, taxation and public spending Kampala, Uganda | JULIUS BUSINGE | A group of civil society organisations under their umbrella organization Civil Society Budget Advocacy Group (CSBAG) have presented a list of budget proposals to government that they think can jumpstart the economy that has …

The insurer is enhancing automation, product innovation and pushing for asset restructuring to drive profitability Kampala, Uganda | JULIUS BUSINGE | Uganda’s oldest insurance firm, NIC Holdings Ltd, plans to ride on new technologies and product innovations to sustain profit growth. Flanked by two other top executives for the company, …

Kampala, Uganda |  THE INDEPENDENT |  The Court of Appeal will make a judgment on Monday, November 2 to determine whether Diamond Trust Bank, DTB, refunds an equivalent of Sh120 billion shillings to businessman Hamis Kiggundu. The ruling will also shed more light as to whether the loans Kiggundu took …

Kampala, Uganda | THE INDEPENDENT | BCW (Burson Cohn & Wolfe), was named Global Agency of the Year at PRovoke Media’s 2020 Global SABRE Awards ceremony, which was held virtually on October 21. The global communications agency, a partner to brainchild BCW in Uganda, was praised for its innovative new client offerings, attracting …

Govt’s green light to Total raises its stake to 66.66% Kampala, Uganda | RONALD MUSOKE | French oil firm, Total, will become the biggest shareholder in Uganda’s oil project following the government’s approval of the sale of Tullow’s 33.33% stake of its Ugandan assets at US$ 575 million (Approx. Shs …

Kampala, Uganda |  THE INDEPENDENT |  Three police officers attached to Kampala Central Police Station are nursing injuries they sustained in skirmishes with traders at Kiseka Market over the disputed demarcation of the market land by Kampala Capital City Authority-KCCA.    The Kampala Metropolitan Deputy Police Spokesperson, Luke Owoyesigyire, says three …

Uganda’s coffee industry has recorded the highest ever export volumes as well as earnings for the Coffee Year 2019/2020 (Oct-Sept), signaling the crop’s steady recovery. Kampala, Uganda | ISAAC KHISA | Latest data from the Uganda Coffee Development Authority shows that coffee exports for the 12 months amounted to 5.36 …

Kampala, Uganda |  THE INDEPENDENT |  National Water and Sewerage Corporation-NWSC and security are investigating a scam involving people targeting water consumers with high bills purportedly to help them reduce the bills. It follows complaints from several water consumers indicating that some staff from NWSC are contacting them using the information …

  Kampala, Uganda | THE INDEPENDENT | Ugandan kickboxing great Moses Golola’s dream of establishing a talent academy has got a boost, after the Rockboom brand ambassador was rewarded with a new bungalow, that has training facilities adjacent to it. The fully furnished three bedroom bungalow is situated at Katooke-Lugoba in …