Business

President Yoweri Museveni is believed to have spent more than $7 million on his 2016 presidential election campaign. Amama Mbabazi and Besigye spent $951,000 and $279,000 respectively. These individual expenditures came complementary to the Electoral Commission’s own budget which continues to bloat every five years. One thing is certain, if …

PHOTOGRAPHS: President Yoweri Museveni yesterday performed the groundbreaking ceremony for the construction of the China-Uganda Agricultural Industrial Park in Butuntumula, Katikamu North in Luwero district. The project investment is estimated at US$ 220million. The project once complete will help farmers increase their agricultural incomes through accessing improved seeds and advanced …

The Uganda National Chamber of Commerce (UNCCI), the umbrella body for the business community in the country, is grappling with several issues that have made it unable to fulfill its mandate. Ahead of the next elections, businessman Andrew Rugasira, the proprietor of Good African Coffee, talked to The Independent about …

Uganda National Association of Building and Civil Engineering Contractors (UNABCEC) have called for the enactment of the UCICO Bill to check the rising number of collapsing buildings in Kampala. UNABCEC Executive Director, Godfrey Lubanga briefed the press in Kampala yesterday about what they think are the root causes of recent …

Maputo, Mozambique | AFP | Mozambique on Tuesday said most of $1.4 billion in previously hidden loans had been used to fund maritime security and shipyards, a week after the IMF suspended the country over the undisclosed sum. The Washington-based International Monetary Fund last Wednesday called off a staff mission …

Slightly over a year ago, Patrick Mweheire was appointed CEO of Stanbic Bank Uganda, to become the first Ugandan to head the bank since Standard Bank, a South African financial services giant, took it over 15 years ago. On April 14, Mweheire, who presided over the presentation of the bank’s …

  After formally bagging the new oil pipeline from the Ugandan oilfields through Tanzania to the port of Tanga, yet more good news emerged for Tanzania today. The proposed railway extension from the inland dry port of Isaka to Kigali and Bujumbura will after all be built, providing a safe, …

Riyadh, Saudi Arabia | AFP | Saudi Arabia said Monday it would create the world’s largest wealth fund and sell shares in state energy giant Aramco as it unveiled a vast plan to transform its oil-dependent economy. The announcement of the long-term reform programme, dubbed “Saudi Vision 2030”, marks the …

Uganda has been classified as one of those countries with a low saving culture. However, a new study on Mobile Money and Individual Savings in Uganda carries some optimism. In Musa Mayanja Lwanga and Annet Adong’s paper; “A Pathway to Financial Inclusion”, mobile money could affect people’s attitudes towards saving. …

Uganda agrees with Kenya to develop the oil pipeline route to the port of Tanga while Kenya develops the Lamu route. — Richard Kabonero (@richardkabonero) April 23, 2016 The 13th Summit of the Northern Corridor Integration Projects concluded today with the surprise decision by the regional leaders to give a go ahead …