Business

Kampala, Uganda | THE INDEPENDENT | Uganda Revenue Authority (URA) is seeking an additional funding of sh66.3 billion shillings to improve its operations. The request for more funds in the coming financial year 2019/2020 was on Thursday tabled before Parliament’s Finance Committee by the URA Commissioner General, Doris Akol. The …

Kampala, Uganda | THE INDEPENDENT | High Court in Kampala has called for written submissions in a case challenging the deportation of Wim Vanhelleputte, the Chief Executive Officer of MTN Uganda. The Belgian was deported on February 14, on the orders of the Internal Affairs Minister, Gen Jeje Odong making …

  Out of UGX38.8 bn that was disbursed to 5,505 groups, on average, only 26.7% was recovered from the youth country wide. Kampala, Uganda | THE INDEPENDENT | A 2018 audit report by the Office of the Auditor General (OAG) has revealed that almost Sh28.4billion may never be recovered as …

Paris, France | AFP |  US ride-hailing group Uber said Wednesday that it would start deploying electric bikes and scooters for rent on Paris streets as soon as this week, joining a crowded market which city officials have vowed to rein in. Initially 500 of its Jump bikes and 500 …

  Kampala, Uganda | THE INDEPENDENT | Minister of Works and Transport Monica Azuba will lead a team of managers heading to Canada to conclude ceremonial matters and flag off the new Uganda Airlines aircraft to Entebbe. She will join an acceptance team from Uganda Airlines that is already at the …

The lender’s cost cutting strategy delivered good returns Kampala, Uganda | ISAAC KHISA | Uganda’s largest commercial bank, Stanbic Bank, seem to have surprised its investors with a 7% growth in net profit to Shs 215bn in 2018, closing out the year that the banking industry generated some Shs 700bn …

 Company expects more revenue from government’s free connection policy Kampala, Uganda | JULIUS BUSINGE | Power distributor, Umeme Limited recorded a 70% jump in profit after tax for the year ended December 2018 compared to the previous year. This came after the company settling a conflict regarding a specific clause …

  Kampala, Uganda | ISAAC KHISA | Pan-African multilateral lender, African Export-Import Bank has released its abridged audited financial statements for the year ended 31 December 2018, showing strong financial and operational performance, with total comprehensive income for the year amounting to $285.4 million. The total comprehensive income reflects a …

Kampala, Uganda | THE INDEPENDENT | Agriculture might be finally catching financiers’ eye, with money disbursed to farmers topping all other sectors in January, according to official figures. Statistics from the Finance and Economic Development Ministry show that agriculture received 28% (Sh 283bn) of all loans disbursed in January up …

  Top managers are optimistic the future of the business is bright Kampala, Uganda | JULIUS BUSINGE | Shareholders of dfcu would be happier if the bank’s financial accounts showed a decline in costs and increase in revenue. This is not the case for the financial year 2018. However, dfcu’s …