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Business news

Fuel crisis spreads agony

By Patrick Kagenda. One year since fuel scarcity hit, Uganda is still grappling with the shortage without a solution by the government. It started on Dec 30, 2007 with post-election violence in Kenya that saw the economies of its landlocked neighbours that depend on the northern corridor for imports, including …

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Global financial crunch

By The Independent Reporter Commodity prices expected to tumble in 2009 The global financial crisis that started to show its effects in the middle of 2007 exploded in 2008. Around the world, stock share prices tumbled, financial institutions previously considered impregnable collapsed or were bought out, and governments even in …

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Real estate booms

By the Independent Reporter In spite of a booming real estate sector in Uganda, the country is suffering from a growing housing deficit of over 1.6 million units. In spite of the sector growing at 30% annually, the deficit keeps growing by 10,000 homes. But with over 200 companies involved …

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RVR fails rail sector

By The Independent Reporter Mr. Roy Puffet, was replaced as RVR`s CEO by Mr. Kevin White, an Australian under a new deal that a Kenyan-led management team claimed would turn around the ailing concession. Under the deal announced on August 7, RVR entered a Technical Service Agreement (TSA) with PDL …

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CRB and Financial Card system Launched

By Independent Reporter The long awaited Credit Reference Bureau (CRB) and Financial Card System were on December 3 officially launched by Uganda’s Central Bank Governor Tumusime Mutebile and the Germany Ambassador to Uganda, Buchholz Reinhard. The new financial card will carry borrowers biodata and once swiped though a card reader …

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EAC bourse integrate minus Tanzania

By The Independent Team Despite Tanzania’s resistance to cross-border investment, a position that contradicts the East African Community Customs Management Act, plans are going ahead to integrate the three major bourses within the region, namely the Dar es Salaam stock exchange, the Nairobi stock exchange and the Uganda securities exchange, …

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Finance experts debate impact of global crisis

By Patrick Kagenda On November 28 the National Planning Authority organized a one day National public dialogue on the impact of the global financial crisis on Uganda. Dr. Abebe Aemro Selassie the IMF senior resident representative to Uganda was the presenter and Dr Emmanuel Tumusime Mutebile Uganda’s Central Bank governor …

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Single EAC visa excites London tourist fair

By Our Reporters Uganda scores major successes On November 10, Uganda’s Trade minister Janat Mukwaya, Kenya’s Najib Balala, Shamsa Mangunga of Tanzania, and Monique Nsanzabaganwa, the Rwanda chairperson addressed a press conference on the fringes of the 2008 World Travel Market (WTM), to announce their decision to make the EAC …

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