Business

Kampala, Uganda |  THE INDEPENDENT  Investment clubs have been tipped to diversify their investments into both physical and financial assets. Physical assets include land, houses, plant and equipment while financial assets includes treasury bills, bonds and fixed deposits. Speaking during a virtual meeting on Thursday, Aeko Ongodia, a founder and Chief …

Bank of Uganda is optimistic the economy will recover amidst challenges Kampala, Uganda | JULIUS BUSINGE | Can Uganda’s economy recover at a much needed speed amidst threats posed by COVID-19? This is the question that the Bank of Uganda technical managers seem to be pondering with as they keep …

Kampala,, Uganda |  THE INDEPENDENT  The number of telephone subscribers in Uganda has grown by 1.8 million in the third quarter of 2019/2020 bringing the total number to 28.5 million people.  According to the January to March 2020 quarterly report by the Uganda Communication Commission, the number of subscribers increased from …

It paid Shs347bn for the 66.53% stake in a DRC bank Kampala, Uganda | ISAAC KHISA | Regional lender, Equity Group Holdings, has completed the acquisition of Banque commercial du Congo, (BCDC) in the Democratic Republic of Congo, further strengthening is foot print on the African market. This follows a …

Fort Portal, Uganda |  THE INDEPENDENT  Police in Fort Portal has been tasked to expedite an investigation into the sale of donated Mama Kits in a supermarket.  Mama Kits labelled; “For Public Use, Not for Sale” were first seen in  Good Home Supermarket in Fort Portal, in March.  Subsequently, a Chinese …

Kampala, Uganda |  THE INDEPENDENT  More than half of the businesses in Uganda cut the salaries of their employees in March and April 2020 as the country entered into tough restrictions to stem the spread of coronavirus, a survey by the Uganda Bureau of Statistics (UBOS) has said.  According to UBOS, …

  Johannesburg | THE INDEPENDENT | Chief Financial Officer of MTN Group Ralph Mupita will on September 1 take over from Rob Shuter as president and CEO. “After a rigorous and extensive search process, we are pleased to have appointed someone of Ralph’s calibre, experience and ability to fill the group president …

Kampala, Uganda |  THE INDEPENDENT  Businesses should desist from putting their main income generating assets as collateral to get loans from banks, an expert has said. Sarah Mbinji, an International Finance Corporation trainer, said on Wednesday that using your cash-cow asset as security to get a loan would be akin to …

The company executives say focus on digitization will drive growth of business going forward Kampala, Uganda | JULIUS BUSINGE | MTN Uganda has reported a 9.1% increase in net profit to Shs442.6billion for the first six months of 2020. According to company’s latest interim results, the performance was driven by …

Kampala, Uganda |  THE INDEPENDENT  Uganda Revenue Authority – URA registered a surplus in tax collections for July 2020 after some people and corporations that had suspended payments during the Coronavirus (COVID-19) lockdown paid up. URA collected 1.2 trillion Shillings in July 2020 against a target of 1.02 trillion Shillings – …