Business

Kampala, Uganda | THE INDEPENDENT | In response to the October monetary policy statement by the Bank of Uganda and the decision to reduce the Central Bank Rate by 0.5 percentage points to 9.5 %, Stanbic Bank has matched the Central Bank’s rate cut by reducing its Prime Lending Rate from …

  Kampala, Uganda | THE INDEPENDENT | President Yoweri Museveni has, once again, strongly warned all technocrats in government ministries and departments to immediately stop frustrating foreign investors who come to Uganda to add value to the county’s products. Museveni specifically directed officials from the Department of Minerals in the …

London, United Kingdom | AFP | A non-existent restaurant supposedly based in a garden shed briefly became London’s top eating place on travel and restaurant website TripAdvisor, who on Thursday hit back at the hoaxers. “The Shed at Dulwich”, based in a south London back garden, offered invited guests conceptual …

LAMA DI RENO, Italy | AFP | From forced labour in Libya to a job as a founding member of an Italian fashion start-up, Bassirou has come a long way in two years, thanks to his skills with scissors. The 26-year-old Burkina Faso native is the star student of a …

Social security funds to tackle key areas in education, IT to accelerate pension growth Kampala, Uganda | JULIUS BUSINGE | How can African governments ensure that the working population has some sort of social security at old age? That was the main issue discussed during the two-day East and Central Africa …

Moscow, Russia | THE INDEPENDENT | Uganda and Russia have started preparations for the  upcoming 2nd Inter-governmental Commission aimed at improving trade and strenghthening relations between the two countries. The 2nd Uganda-Russia Intergovernmental Commission is scheduled to take place in May 2018. The Ugandan delegation to the meeting will comprise both …

 The company records Shs 13.9bn loss in 2016 Kampala, Uganda | ISAAC KHISA | Uganda’s electricity generation company, UEGCL, has slipped back into loss making territory a year after it registered a substantial profit in 2015 but the executives say the company has better days ahead. Financial records released in Kampala …

Kampala, Uganda | GODFREY SSALI | Sugar millers under their umbrella association the Uganda Sugar Millers Association have denied allegations they are hoarding sugar so as to sell it at higher prices. Trade Minister Amelia Kyambadde summoned the sugar millers to a meeting Tuesday 5th December 2017 at the Ministry offices in …

Regulator says aggressive marketing and awareness would reverse the poor performance Kampala, Uganda | ISAAC KHISA | Uganda’s agriculture sector has been associated with many risks – unstable prices, drought, pests and diseases – thus hampering its growth. This prompted the government to unveil a Shs5bn Agriculture Insurance Premium Subsidy Scheme last …

But will he achieve the Shs 20 trillion in savings by 2022? Kampala, Uganda | JULIUS BUSINGE | Richard Byarugaba was recently re-appointed as the managing director of the National Social Security Fund for another five-year term. His performance in the first term seems to have impressed his supervisor – the …