Business

Kampala, Uganda | THE INDEPENDENT |  Parliament’s Budget Committee has faulted officials from the Ministry of Finance for undermining the Public Finance Management Act provisions while presenting an additional budget of 3.4 trillion Shillings for the financial year 2021/2022. The additional budget presented to the Committee on Monday has increased the …

Kampala , Uganda | Julius Businge | Civil Society Organizations are urging the government to focus on issues related to food insecurity, and weak healthcare system as it takes steps to ensure immediate relief and long term recovery during and post-Covid-19 era.  The CSOs include SEATINI Uganda, Oxfam, Federation for Small and Medium …

However, the lender remains strong with its capital growing up to 23%, higher than 12.5% regulatory cap Kampala, Uganda | JULIUS BUSINGE | Absa Bank Uganda Ltd saw its net profit sharply drop by nearly 50% from Shs78bn in 2019 to Shs40bn in 2020 as coronavirus pandemic took toll on …

Kampala, Uganda | THE INDEPENDENT  | The government is not concerned about the decision of some international banks to stay away from the financing plans for the East African Crude Oil Pipeline.  Several banks in France, where the lead investor in the project, Total, is based, have stated that they will not …

Gulu, Uganda | THE INDEPENDENT  |  The National Forestry Authority (NFA) has realized Shillings 11.3million from the auction of impounded charcoal. The charcoal was impounded from Amuru and Adjumani districts during joint operations manned by the Environmental Police Protection Unit and NFA last month against illegal charcoal dealers in Northern Region. …

Gulu, Uganda | THE INDEPENDENT  | Charcoal dealers have cleared thousands of shea nut tree acreages in Acholi Sub Region. The dealers have over the years spread out in Gulu, Amuru, Agago, Kitgum, Lamwo and Pader districts where they have massively cut down several acres of shea nut trees for charcoal. The …

Kampala, Uganda | THE INDEPENDENT  |  The immediate former Secretary-General of the East African Community, Ambassador Libérat Mfumukeko hopes that he will be remembered as a man who steered the development of several infrastructure projects in the region and removal of ‘many’ non-trade barriers in the integration process. “From 2016 to …

Uganda hosts more than 1.4 million refugees with majority coming from the South Sudan and Democratic Republic of Congo Kampala, Uganda | ISAAC KHISA | Mercy Corps has partnered with African Executive Leaders Solution to launch a digital platform to help legal refugees and youths close the gap in accessing …

Fort Portal, Uganda | THE INDEPENDENT  |  The Minister of ICT and National Guidance, Judith Nabakooba has promised to work with the relevant bodies to review the guidelines on the mandatory free airtime offered to government in Radio and TV stations. In 2014, Uganda Communications Commission (UCC) issued a guideline requiring …

The tech-firm aims to strengthen its presence in Uganda and Mali and expand its offerings to more markets on the continent | THE INDEPENDENT | OKO, an Insurtech start-up that provides inclusive agricultural insurance to secure farmers’ income across Africa, has closed a Seed investment of $1.2 million. The round …