Business

Back to the drawing board: UTL’s prospective investor fails to raise capital, but the good news is that the company is yet to accrue new debts Kampala, Uganda | JULIUS BUSINGE | Ugandan government is back to the drawing board to identify a new prospective investor to take over 69% …

Mutebile maintains CBR at 10% and projects 6.3% growth of the economy Kampala, Uganda | JULIUS BUSINGE | Borrowers from commercial banks will not experience changes in lending rates in the coming few months after Bank of Uganda maintaining the central bank rate –which influences changes in interest rates market …

San Francisco, United States | AFP | Uber on Friday released earnings figures that showed its loss narrowed in the final quarter of last year while revenue growth slowed as the ridesharing giant prepares for a stock market debut. The loss for the final three months of the year amounted to …

Kampala expels boss of MTN’s Uganda arm, citing ‘national security’ Kampala, Uganda | AFP | Compromising national security has been cited as one of the reasons Kampala has deported the Belgian CEO of the Ugandan branch of MTN Wim Vanhelleputte. It is the fourth such expulsion targeting the South African telecoms …

Kampala, Uganda | THE INDEPENDENT | MTN-Uganda Chief Executive Officer, Wim Vanhelleputte has been deported. Wim Vanhelleputte was deported on Thursday night aboard Brussels Airlines on the orders of the Internal Affairs Minister, Gen Jeje Odong. The Belgian is the fourth employee of Uganda’s telecom giant to be deported in the …

Kampala, Uganda | THE INDEPENDENT | MTN CEO Wim Vanhelleputte was Thursday night deported, weeks after three of the  company’s expatriate staff were expelled. His deportation documents were signed by Internal Affairs Minister Gen. Jeje Odongo, hours after he had been held and grilled by security. He was later taken to …

  Kampala, Uganda | THE INDEPENDENT | The authenticity of agreements transferring assets of the 1964 Cooperative Bank to that incorporated in 1997 under the Company’s Act has been questioned. For the past few weeks, the commissions committee of parliament has been probing how the Cooperative Bank in 1997 was …

Geneva, Switzerland | AFP |  The global unemployment rate inched down last year, the UN said Wednesday, warning though that jobs often failed to guarantee decent living, with some 700 million workers wallowing in poverty. Unemployment around the world fell last year to 5.0 percent — from 5.1 percent in …

  In Paris this month, developing countries must understand what is at stake and speak up COMMENT | José Antonio Ocampo | Project Syndicate | At first glance, it appears to be a bureaucratic meeting like any other. But the discussions at the OECD in Paris at the end of this …

Kampala, Uganda | THE INDEPENDENT | The Committee on Commissions, Statutory Authorities and State Enterprises-COSASE has questioned a team of lawyers from MMAKS Advocates on conflict of interest. The team from MMAKS Advocates was comprised of Apollo Nelson Makubuya, Timothy Kanyelezi Masembe, Moses Adriko, Mathias Ssekatawa, Ernest Sembatya and Isaac …