Business

Why Uganda needs to attract new investors to consume excess electricity Kampala, Uganda | JULIUS BUSINGE | On Nov. 16, power distributor, Umeme Limited held a media dialogue in Kampala where top managers – Selestino Babungi (managing director) and Sam Zimbe (deputy MD) answered questions about their work since 2005. The …

Kampala, Uganda | ISAAC KHISA | Uganda’s balance of payment deficit has remained wide for some time now but there are signs that the gap will soon be reduced as the government issues licenses to developers in Free Zones. Free Zones are geographic areas where raw materials and goods may be …

Marrakesh, Morocco | AFP | A two-day investment forum opened in Morocco’s Marrakesh on Monday as China seeks to revive ancient Silk Road trade routes from Asia to Europe and Africa. “The question is how to accelerate cooperation in the field of investment,” said Wang Yong, vice president of the …

Kampala, Uganda | THE INDEPENDENT | Jumia Food has unveiled Jumia Party – a new 1 hour alcohol delivery service App in Kampala. This follows a partnership with Pernod Ricard, the world’s producer of wines and spirits. The new app gives users access to a full marketplace of spirits, wines, beers …

Kampala, Uganda | THE INDEPENDENT | Amos Bagumire, a Ugandan corporate consultant, has been recognized by CEO Global for his exceptional performance in a filtering process overseen by KPMG, the international financial services firm. Bagumire, the managing director of ABS Consulting Group was announced continental winner of the CEO Global Titan …

Kampala, Uganda | THE INDEPENDENT | Kenya’s national carrier, Kenya Airways, has a recorded 20.5% drop in losses to Ksh3.8bn for the six months to September compared with the same period a year earlier citing reduced costs. The carrier said its operating costs reduced from Ksh53.799bn to Ksh53.075bn during the same …

Nwoya, Uganda | THE INDEPENDENT | President Yoweri Museveni has called upon Ugandans to adapt commercial agriculture. Speaking at the commissioning of the FOL Rice Farm in Lamoki village, Anaka Sub- County, Nwoya district in Acholi Sub-Region on Saturday, the President said that Ugandans needed to understand the difference between …

The company acquired LAC at US$ 6.5million Kampala, Uganda | JULIUS BUSINGE | South Africa-based financial services firm, Sanlam, has upgraded its market share in Uganda with the acquisition of Lion Assurance Company (LAC) at US$6.5million. This follows approval from the Insurance Regulatory Authority of Uganda (IRA-U) nearly two weeks …

Kampala, Uganda | THE INDEPENDENT | Retail chain, Uchumi Supermarkets posted a 39 % improvement in its loss position in the financial year ended June citing improved cost management. The retailer recorded a Kshs 1.7 billion loss after tax during the year, compared to a Kshs 2.8 billion in the previous …

Kampala, Uganda | THE INDEPENDENT | The ongoing Airtel Uganda’s Yoola Amajja promotion is exciting and gaining more popularity amongst Ugandans, according to Richard Yego, the head of Airtel money. Speaking on the sidelines of the second draw held at their headquarters in Kampala on Nov. 17, Yego said the company …