COMMENT | Martin Sabiiti | According to the Uganda Association (UAERA) for External Recruitment Agencies there are over 140,000 Ugandans working in the Middle East. The number could even be higher when you factor in those who are trafficked and can’t be properly accounted for. The story of labour export has …
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Kampala, Uganda | Julius Businge | Carrefour, operated by Majid Al Futtaim in Uganda, has joined forces with Africa’s leading e-commerce platform Jumia, through its subsidiary Jumia Food, to provide Carrefour customers with a secure and convenient way to have their orders delivered to their homes. The partnership comes as the …
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Kampala, Uganda | THE INDEPENDENT | Absa Bank Uganda and Standard Chartered bank have announced a jump in profits for the year 2019, completing the set of the top five most profitable banks in the country. Stanbic, Centenary, Standard Chartered, Absa and Dfcu bank respectively make up the top five …
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Washington, United States | AFP | The decade of US economic expansion ended dramatically in the first quarter when GDP shrank 4.8 percent as the coronavirus hit, according to government data released Wednesday. It was the biggest decline in GDP in 12 years as the pandemic forced businesses to …
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Kampala, Uganda | THE INDEPENDENT | Uganda coffee exports are yet to be affected by the coronavirus pandemic after March figures showed growth compared to a year ago. Uganda Coffee Development Authority (UCDA) said in a March 2020 report that Uganda coffee exports were 477,561 worth USD45.87M (Shs 171bn). This is higher …
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Kampala, Uganda | THE INDEPENDENT | President Yoweri Museveni has issued a firm assurance to Ugandans that the economy and therefore their businesses will not be hit by the coronavirus pandemic. Evidently staying clear of the issue of stimulus to business, Museveni said while he understood businesses in tourism and …
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Kampala, Uganda | THE INDEPENDENT | Uganda’s economy started feeling the hit from the coronavirus (COVID-19) as early as February before the lockdown, a report has revealed. According to the Ministry of Finance, March 2020 performance of the economy report states by start of February, external demand for the country’s …
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Kampala, Uganda | THE INDEPENDENT | The Uganda Investment Authority (UIA) is assessing the impact of the coronavirus (COVID-19) on businesses. The assessment is aimed at justifying required economic interventions due to the virus. Lawrence Byensi, the UIA Director General says the assessment will be used to support policy advocacy …
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Bank of Baroda has recorded a 38% drop in net profit to Shs 45.3bn for the year ended Dec. 2019 but the management hope for better performance in future as it embarks on massive digitalisation. Kampala, Uganda | ISAAC KHISA | The bank’s latest financial performance also shows that whereas …
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Singapore, Singapore | AFP | US oil prices fell heavily Monday on renewed concerns over storage capacity as the coronavirus throttles demand, even as producers start slashing output to boost markets. US benchmark West Texas Intermediate dropped 9.3 percent to $15.36 a barrel in Asian morning trade. Brent crude, the international benchmark, was off 3.2 …
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