Business

Ntoroko, Uganda |  THE INDEPENDENT |   More than 7,000 people displaced by floods resulting from the rising Lake Albert water levels in Ntoroko district want the government to resettle them to safer places. Flooding in the district is a perennial problem. However, it escalated at the start of this year …

    COMMENT | Hillary Turyatunga | Uganda’s efforts to join the Extractives Industries Transparency Initiative (EITI) that were first expressed in the 2008 National Oil and gas policy recently saw Uganda joining the initiative, making it the 54th country in the world and 26th in Africa to subscribe. EITI is a …

Nairobi, Kenya | Xinhua | Kenya’s exports to countries in East African Community (EAC) have surpassed the pre-COVID-19 period, with the pandemic seemingly catalyzing trade. The exports to Uganda, Tanzania and Rwanda recovered from May, sustaining an upward trajectory to August, new economic data from government statistics agency released on …

Entebbe, Uganda | THE INDEPENDENT | President Yoweri Museveni has said despite the effects of the COVID-19 pandemic, Uganda’s economy has transformed to a level where the country will be self-sufficient and achieve sustainable economic growth and job creation. He was speaking during the 58th Independence Day celebrations held at State …

  Nairobi, Kenya | Xinhua | The East African Community (EAC) is losing revenue due to low investments in value addition of horticulture and leather produced in the region, says a report released on Thursday. According to the report by East African Business Council (EABC), a private business lobby of …

Kampala, Uganda |  THE INDEPENDENT |  “With the advancement of information technology will come more sophisticated crime”. This and other related statements are commonly used by even those who advance the need for a digitally-led society.  This, therefore, means that the advancement in IT is a necessary evil, which will …

Kampala, Uganda |  THE INDEPENDENT |  Uganda’s banking sector has joined Diamond Trust Bank in the fight to overturn a court judgement that saw DTB lose a 42 billion Shilling case to Ham Enterprises. The industry fears that this decision if implemented, will have far-reaching consequences on the industry. Ham …

  Kampala, Uganda |  THE INDEPENDENT |   Only fifty of the 240 registered airport taxis will operate each day in the first phase of the reopening of Entebbe International Airport.   The first phase covers October to December 2020, while the second phase ends June 2021.  The move is aimed at …

Kampala, Uganda |  THE INDEPENDENT |   The High Court Commercial Division has ordered Diamond Trust Bank Uganda and Kenya to refund more than 120 Billion Shillings they illegally deducted from two accounts of businessman Hamis Kiggundu. In August 2020, Kiggundu petitioned the court after 85 billion Shillings and 34 billion …

Geneva, Switzerland | Xinhua | World merchandise trade is expected to fall by 9.2 percent in 2020, followed by a 7.2-percent rise in 2021, the World Trade Organization (WTO) said on Tuesday in its revised trade forecast. In April, the WTO had predicted a decline in the volume of world …