Business

Tropical Bank takes lead with more than 8000 customers interested in taking up Islamic banking services The Secretary General of the Association of National Development Finance Institutions in Member Countries of the Islamic Development Bank (ADFIMI), Nuri Birtek says Uganda’s commercial banks and investors need to support small and medium …

   Greg Metcalf has been at the helm of the Nile Breweries Limited, a subsidiary of AB InBev based in Belgium since 2014.  He spoke to The Independent’s Isaac Khisa on the prospects of Uganda’s beer market. What is your assessment of beer market in Uganda?  The market has been …

Tripoli, Libya | AFP |  Libya’s oil production, the country’s main source of revenue, rose Monday to more than 760,000 barrels per day for the first time since 2014, the National Oil Corporation said. Oil is Libya’s main natural resource, with reserves estimated at 48 billion barrels, the largest in …

Uganda is considering regulating drinking hours to check increasing alcohol abuse, which President Yoweri Museveni says, affects productivity at work. Museveni stated on Monday that one of the big challenges the country must address in order to improve productivity of labour, is the problem of alcoholism and gambling. “I note …

  Over 1000 participants from around the world will converge in Uganda May 2-5 to discuss matters accounting and finance. Speaking to journalists ahead of the meeting on April 30 in Kampala, Rachel Grimes, the president of the International Federation of Accountants (IFCA) said the meeting will serve as an opportunity …

  Factory price of 50kg bag up by 48% in April 2017 There is bad news for sugar consumers in the country going by current issues happening in the industry. Official figures for the year 2016 from industry controllers Uganda Sugarcane Manufacturers Association (USMA) millers – Kakira, Kinyara and SCOUL …

    Uganda Revenue Authority closed Good African Coffee shops in the city owned by businessman Andrew Rugasira for three days over unpaid tax arrears amounting to Shs1billion. The shops were reopened days later after reported talks between the businessman and the authority. URA head of debt collection Stanley Kalemera …

It was a confrontational scene in parliament as MPs reacted angrily to officials from Ministry of Finance who refused to incorporate proposals and recommendations made by MPs on the budgeting process. Members of the Budget Committee led by Chairman Amos Lugoloobi lashed out at the officials who included Minister of …

Minister for Trade and Industry Amelia Kyambadde has backed Chinese businessman in the country who are under fire for being involved in petty trade. Kyambadde told MPs there is no provision in the law excluding foreigners from carrying out trade in the country. She told the parliamentary committee on trade …

Whoever breached the law in the six billion shilling oil cash payout must face the law – Museveni The chairperson of Uganda’s  parliamentary Committee on Commissions, Statutory Authorities and State Enterprises (COSASE)  Abdu Katuntu has said President Yoweri Museveni wants the solicitor General to account for sh5.6 billion supposed to have …