Business

Here is why Ugandans are poorer today than yesterday There is more bad news for the Uganda economy this April. According to the latest figures from the Uganda Bureau of Statistics (UBOS) and the Central Bank, the economy will not achieve the targeted 4.5% growth this financial year. It will …

Property mogul Sudhir Ruparelia is reeling from yet another loss after Bank of Uganda shut down four forex bureaus belonging to him. In a statement BOU issued, the owners of the forex bureaus closed made no effort to renew them after their licenses expired on Dec 31. Two of the …

Kana Rugbana, Nigeria | AFP |  Nigerian commander Remi Fadairo points to the roiling plume of black smoke blotting the morning horizon in the Niger Delta -— the unmistakable sign of an illicit oil refinery. “Let’s see if we can go eat them for breakfast,” he says with an ominous …

New Delhi, India | AFP |  The recent arrest of Vijay Mallya highlighted the problem of bad loans in India, but analysts say the tycoon’s unpaid debts are just the tip of an iceberg that is already holding back the country’s economic growth. The multimillionaire owner of a Formula One …

  President Yoweri Museveni is in Bahir Dar, Ethiopias’ second largest city, for the 6th TANA high-level forum on security in Africa that will focus on natural resources. Africa’s natural resource endowments stand at 12% of global oil reserves, 40% of global gold deposits, and about two thirds of the world‟s …

African Development Bank President Akinwumi Adesina has spoken confidently about Africa’s enormous potential, and the bank’s ambitious development agenda, which he said was well underway. He said this, in an impassioned speech, delivered at the Center for Global Development in Washington, DC, on Wednesday, April 19.   The High 5s …

JOB TITLE: Uganda Refinery Project ENGINEER REPORTS TO: GENERAL MANAGER DEADLINE: 17:00 hours (5:00pm EAT) not later than 28th April 2017 Job Summary: The Refinery Project Engineer (PE) will provide technical coordination to the Uganda Refinery Project team for all project phases to ensure effective project development and performance. The PE will …

Nairobi, Kenya | AFP |  Six Kenyans urged a court Wednesday to suspend a controversial decision by election officials to scrap a tender process and directly procure an electronic voting system for the August polls. The petition is the umpteenth disruption to already chaotic election preparations, a sensitive process in …

Uganda plans to open an investment office in Doha, Qatar to facilitate prospective investors with information on trade, investment opportunities and to promote tourism. “Uganda will open an investment office in Doha. It will be part of Uganda’s Embassy in Qatar andwill also work on the promotion of tourism,” said President …

Government has announced an extension of the SIM-card verification exercise to May 19, 2017 from April 20. The decision to extend the deadline rendered a High Court case filed in Kampala to stop implementation of the deadline “useless”, according to court’s Assistant Registrar Joy Kabagye Bahinguza. The High Court ruling was …