Business

Kampala, Uganda | JACKSON EMANZI | In most developed countries building a house is a capital-intensive venture which requires a well-developed plan and readily available finances. This ensures the construction starts and is completed on time and the quality of the build is generally not compromised. In Uganda however as in …

Kampala, Uganda | THE INDEPENDENT | Business seem to be worsening at the retail chain, Uchumi Supermarkets. Latest data shows that the retail chain recorded a 63.5% growth in net losses to US$8.95million for the half year ended Dec 2017 citing reduced sales. The listed company recorded a net loss …

Kampala, Uganda | ISAAC KHISA | Senior executives in Uganda’s leading telecom companies have always said the country’s mobile phone market has room to grow but it is too small to support all of the seven telcoms. And the assertion seem to have come to pass, with the British based telecom, …

  CSBAG: Budget indiscipline killing Uganda’s economy Kampala, Uganda | THE INDEPENDENT | The Civil society Budget advocacy Group (CSBAG) has asked parliament to reject “unnecessary supplementary budget” requests by government extended to The House for approval. In a statement released on March 2, CSBAG said it wants the Public …

The government is yet to decide on whether or not to terminate the motor vehicle inspection deal Kampala, Uganda | JULIUS BUSINGE | The Uganda government is in a fix. Suspend and cancel the contract awarded to the Switzerland based firm, SGS, to carry out a motor vehicle inspection and possibly …

Washington, United States | AFP | US President Donald Trump on Sunday signaled his intent to move forward with controversial tariffs on steel and aluminum imports that have sparked fears of a trade war. “We are on the losing side of almost all trade deals. Our friends and enemies have …

Milan, Italy | AFP | Oil giants Eni and Shell go on trial in Milan on Monday, charged with bribery and corruption in the purchase of an offshore oilfield in Nigeria. Eni CEO Claudio Descalzi, his predecessor Paolo Scaroni and several officials from Eni and Shell are among those facing …

Kampala, Uganda | THE INDEPENDENT |  On Feb 22, Kenya’s Treasury said it raised US$ 2 billion in a new sovereign bond issue listed at the London Stock Exchange (LSE). The Treasury said the Bond attracted a significant level of interest leading to over subscription. “This issue was seven times …

Paris, France | AFP | The EU will soon unveil a plan for taxing major internet companies like Amazon and Facebook by imposing a levy of two to six percent on revenues in every country where they operate, French finance minister Bruno Le Maire said Sunday. “The range will be …

Finance under attack over Shs.750 bn fresh borrowing, faces tough IMF Kampala, Uganda | HAGGAI MATSIKO | Matia Kasaija and his team at the Finance Ministry find themselves in a very tight corner as they look for Shs29.2 trillion to finance a new budget. Previously, finding cash did not present …