The Independent Uganda: You get the Truth we Pay the Price
Johannesburg | THE INDEPENDENT | Chief Financial Officer of MTN Group Ralph Mupita will on September 1 take over from Rob Shuter as president and CEO. “After a rigorous and extensive search process, we are pleased to have appointed someone of Ralph’s calibre, experience and ability to fill the group president …
Read More »Don’t use money-generating assets as collateral for bank loans – Expert
Kampala, Uganda | THE INDEPENDENT Businesses should desist from putting their main income generating assets as collateral to get loans from banks, an expert has said. Sarah Mbinji, an International Finance Corporation trainer, said on Wednesday that using your cash-cow asset as security to get a loan would be akin to …
Read More »MTN Uganda registers Shs442bn net profit
The company executives say focus on digitization will drive growth of business going forward Kampala, Uganda | JULIUS BUSINGE | MTN Uganda has reported a 9.1% increase in net profit to Shs442.6billion for the first six months of 2020. According to company’s latest interim results, the performance was driven by …
Read More »URA registers UGX 179b surplus for July collections
Kampala, Uganda | THE INDEPENDENT Uganda Revenue Authority – URA registered a surplus in tax collections for July 2020 after some people and corporations that had suspended payments during the Coronavirus (COVID-19) lockdown paid up. URA collected 1.2 trillion Shillings in July 2020 against a target of 1.02 trillion Shillings – …
Read More »Umeme profits fall by 64% in first six months of 2020
Kampala, Uganda | THE INDEPENDENT | Power distributor Umeme saw its after-tax-profits fall by 64 per cent with the revenues affected by low demand for electricity and payments during the coronavirus lockdown. Umeme said in its half-year financials published today that the company’s profits had dropped to 22 billion Shillings in …
Read More »Economy bouncing back, exports rise to $337 million in July
Kampala, Uganda | THE INDEPENDENT | As the country struggles to overcome of the effects of the recent lock-down to prevent the spread of the COVID-19 pandemic, Uganda’s export earnings increased for a second consecutive month to US$ 337.19 million in June 2020 from US$290.93 million in May 2020. The …
Read More »UNBS translates into Luganda food safety guidelines
Kampala, Uganda | THE INDEPENDENT | Uganda National Bureau of Standards (UNBS) has translated into Luganda guidelines that small companies in the food industry are expected to follow to keep food and beverages free from contamination. Smaller companies, majority of which engage in the selling of different food stuffs had for …
Read More »BoU lists banks with lowest lending rates on loans
Kampala, Uganda | THE INDEPENDENT | Bank of Uganda has named commercial banks charged borrowers lowest rates between January and June 2020, effectively making them the cheapest lenders for debtors to run to. Absa bank, Baroda, Bank of India, Citibank, Ecobank, NC Bank, Stanbic Bank, Standard Chartered Bank, United Bank of …
Read More »Fourth nationwide blackout in five months!
Kampala, Uganda | THE INDEPENDENT | Uganda on Thursday suffered a fourth nationwide blackout in five months, raising concerns about the state of the sector. According to energy experts, the insistent nationwide blackouts raise questions on the stability of the country’s power supply and but also on whether the technical …
Read More »Uganda industrial research institute to establish park in Tooro
Kampala, Uganda | THE INDEPENDENT | The Kingdom of Tooro has signed a Memorandum of Understanding-MoU with Uganda Industrial Research Institute- UIRI to establish an industrial research institute and specialized industrial park in Tooro. The park, valued at USD 100 million (366 billion Shillings), will be named the King Oyo Science, …
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