Business

Kampala, Uganda | THE INDEPENDENT | The Governor of Uganda’s Central Bank Emmanuel Tumusiime Mutebile has insisted that he was right to close seven commercial banks between 1993 and 2017. Mutebile made the remarks on Thursday as he gave his closing remarks on the ongoing probe by parliament’s Committee on Commission’s …

Mutukula, Tanzania | THE INDEPENDENT | The Tanzania government has agreed to give clearance to businessmen exporting agricultural produce and sugar from Uganda. The agreement was reached on Wednesday in a meeting between the Minister of Trade for Uganda Amelia Kyambadde and Joseph G. Kahinda, the Minister for Industry, Trade …

Kampala, Uganda | THE INDEPENDENT | Parliament’s Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) has directed the Auditor General to carry out an audit into the sh478 billion injected into Crane Bank Limited by the Central Bank. The money was injected into the defunct Bank by the Central Bank …

Kampala, Uganda | THE INDEPENDENT | Music promoters and events managers have petitioned the Speaker of Parliament, Rebecca Kadaga to intervene in the suspended music concerts of Bobi Wine. The petitioners say they have incurred huge losses for failing to host concerts involving the Kyadondo East MP and artist, Robert Kyagulanyi …

Kampala, Uganda | THE INDEPENDENT | Tullow Oil is in the final stages of farming down its stakes in the Lake Albert Graben to its joint venture partners Total and China National Offshore Oil Company (CNOOC). Tullow, Total and CNOOC hold equal stakes of 33.3 percent in the Lake Albert Basin …

Kasese, Uganda | THE INDEPENDENT | It was a time of great celebration in Lhuhwahwa II village in Kasese district and in Rukomero village in Kyenjojo district in Western Uganda last week as community members came together to celebrate adoption of nutrition sensitive agricultural practices, improved dietary diversity and good …

Kampala, Uganda | THE INDEPENDENT | The amount of crude oil so far discovered is six billion barrels, down from 6.5 billion barrels, the Uganda government has announced. Of the six billion barrels, the amount recoverable has also been put at 1.4 billion barrels, down from the initial range of between …

Kampala, Uganda | THE INDEPENDENT | There is a new date for Uganda’s ‘First Oil’, which has now moved to 2022 from 2020, according to Energy Minister Irene Muloni. Addressing journalists in Kampala, Muloni said the delay is because the joint venture partners Total, China National Offshore Oil Company (CNOOC) and …

Kampala, Uganda | THE INDEPENDENT | A modern Taxi Park complex has been opened in Arua Municipality. The complex consists of two storied buildings with space for close to 120 lockup shops, a supermarket, a restaurant and a paved area with a parking capacity of up to 50 taxis at ago. …

Frankfurt am Main, Germany | AFP | German carmakers Daimler and BMW said Wednesday they had won final approval to merge their car-sharing services Car2Go and DriveNow, paving the way for the creation of a European giant to challenge the likes of Uber. In a joint statement, the companies said …