Business

Oil pundits sees Tullow Oil plc.’s new share sale a strategy to exit the country’s oil sector London-Based Tullow Oil plc’s announcement that it is once again scaling down its stake in Uganda’s oil development, shedding off nearly two thirds of its shareholdings to the rival firm, Total E&P for …

Analysts say the government needs Shs800bn subsidy annually to keep national carrier in the air The good news is that if President Yoweri Museveni’s New Year 2017 pledge is implemented, Uganda could end this year with a revived national air carrier. The bad is that the revived Uganda Airlines could …

Allan Rwakatungu is the chief executive officer of Intelworld Uganda. He spoke to the Independent’s Agnes E Nantaba about financial technology and business in Uganda What are the key elements in your management philosophy as a manager? I take myself as a mentor or trainer kind of manager. I prefer …

THE LAST WORD Economic growth Vs development: Don’t judge Uganda by where it is but by the speed at which it is growing. COVER STORY Scandal over Museveni’s Shs 6bn ‘handshake’: Stars of anti-corruption fight caught in secret deals with President. SPORTS What does Uganda Cranes need more in Gabon: …

COMMENT: By Anatole Kaletsky Factors powering next phase of capitalism must be paired with government redistribution of gains The biggest political surprise of 2016 was that everyone was so surprised. I certainly had no excuse to be caught unawares: soon after the 2008 crisis, I wrote a book suggesting that …

COMMENT: By Moono Mupotola Experts confirm potential of the Programme for Infrastructure Development in African (PIDA) to contribute jobs and GDP growth When the Lamu Port, South Sudan, Ethiopia Transport Corridor Project (LAPSSET) won the prestigious Global Infrastructure Leadership Forum Award in Washington DC on March 10, 2016, the project …

Sector positive on government promise of deals in infrastructure projects Like most of the Uganda’s manufacturing industry, 2016 was brutal for the steel industry, with dwindling production due to low demand. Uganda has 12 steel mills with a production capacity of more than 500,000 tonnes annually, but the country’s steel …

Kampala, Uganda | THE INDEPENDENT | Tullow Oil plc (Tullow) has announced it will cease to be a key oil operator in Uganda and that it has agreed a substantial farm-down of its assets  to Total E&P Uganda B.V. (Total). In a press statement released Monday,  Tullow said that once the …

Uganda’s Constitutional Court has issued an interim order stopping parliament from debating,  investigating or inquiring into the presidential hand shake, until a main petition filed against the Attorney General is heard and disposed of. Deputy Chief Justice Steven Kavuma on Monday granted the application filed by Eric Sabiiti the Senior …

BoU cut its central bank rate from 13% in October to 12% in December to stimulate economic activities As 2017 business starts commercial banks are optimistic that the sector will register a surge in profitability on the back of improving economy and a reduction in Non-Performing Loans. Speaking to The …