Business

Kampala, Uganda |  THE INDEPENDENT |   The banking sector is advising investors and other private sector borrowers to re-think their investments and investment plans because the attractiveness of investments to credit has been highly affected by the COVID-19 pandemic.       The pandemic scared lending institutions away from the private …

The taxman had expected to collect Shs42.5bn in principal and penal tax from NSSF contributors Kampala, Uganda | JULIUS BUSINGE | It became official on Nov. 02 that the National Social Security Fund will not be remitting income tax to Uganda Revenue Authority on the interest rate that it pays …

Technology, network expansion and investments in a new pole plant will drive revenues up going forward, executives say | JULIUS BUSINGE | Uganda Electricity Distribution Company Limited has reported a sharp rise in revenue from Shs54bn in FY2017/2018 to Shs70bn in FY2018/2019 citing increased electricity network in rural areas. Paul …

Kampala, Uganda | THE INDEPENDENT | The financial sector leaders have chosen to strengthen regulation to grow the stock market as opposed to relaxing rules to attract companies to listing shares. They say strong regulation of the sector gives confidence to serious investors that their investments will be safe while relaxing …

Local employer lobby extends translation and supervisory skills services to the investors Kampala, Uganda | RONALD MUSOKE | For two decades now, hundreds of Chinese investors have flocked into Uganda to establish businesses but amongst the biggest challenges the Southeast Asian entrepreneurs often grapple with is “culture shock,” according to …

Kampala, Uganda | THE INDEPENDENT |  The newly upgraded Stanbic Bank Uganda contactless Visa card that was launched in Kampala today, will make it easier, safer, and faster for customers to transact, and completely remove the need to withdraw or handle cash. The new card will have the latest technological applications that …

Tough times ahead as miscalculated spending, political activities and coronavirus threaten fast recovery of economic activities  Kampala, Uganda | JULIUS BUSINGE | Uganda’s economy has been on a recovery path following the easing of COVID-19 pandemic lockdown restrictions, but the uncertainty surrounding the upcoming general elections is the latest concern, economists …

Number of investors almost reach 1, 000 in just three years of business  Kampala, Uganda | JULIUS BUSINGE | XENO Investment Management Limited has reported a Shs8bn as assets under its management for the year ended December 2019, signaling a growing interest in equity investments among the population. Aeko Ongodia, …

But the firm’s overall Africa operations had its net profit fall by 36% to $145m Kampala, Uganda | ISAAC KHISA | Bharti Airtel operations in East Africa have recorded a 14% growth in revenue to US$659million for the six months ending Sept. 30, citing an increase in subscribers. The firm’s …

  Lord Mayor reacts on President’s repossession directive Kampala, Uganda | Patricia Akankwatsa |  Capital City Authority (KCCA) Lord Mayor Elias Lukwago says wrangles over management of city the markets will not be a success unless the government approves a proper policy on markets in the country. Lukwago was reacting to …