Business

Abuja, Nigeria | AFP | South Africa’s MTN has denied it illegally transferred $13.9 billion from Nigeria in the latest scandal to hit the telecom firm in its largest market in the continent. The Johannesburg-based firm is facing a parliamentary probe over accusations it connived with senior Nigerian officials to …

VIDEO: Uganda National Roads Authority Executive Director Allen Kagina has admitted that she signed documents to pay a Chinese company sh7 billion without taking a thorough check on the documents. Kagina together with the directors of the Chinese construction company China Railway Group 3 returned to explain to the Parliamentary Committee on …

Khartoum, Sudan | AFP |  Africa’s economic growth is expected to dip this year before rebounding in 2017 to remain the world’s second fastest growing region after east Asia, the African Development Bank said Thursday. Africa’s growth in Gross Domestic Product is expected to fall to 1.9 percent this year …

The Bank of Uganda has with effect from today taken over management of Crane Bank Limited. According to a statement, the action has been taken upon the determination by the Bank of Uganda that Crane Bank Limited is significantly under-capitalised. BOU has appointed a statutory manager, Edward Katimbo Mugwanya,  to …

Minister for Kampala Beti Olive Namisango Kamya Turomwe today announced KCCA shall immediately embark on an exercise she says aims to restore trade order, traffic order and development control in the city. Kamya said therefore, illegal street vending activities will be stopped by Kampala Capital City Authority (KCCA) “because they affect …

Beijing, China | AFP |    Chinese growth stabilised in the third quarter, data showed Wednesday, as ample credit and hot property markets propped up the world’s second-largest economy. But while the forecast-beating reading was in line with state targets, it came as experts warned that authorities have relied too …

INTERVIEW: Godwin Mabano is the executive director of Mabaati Roofings Systems. He spoke to Agnes E. Nantaba about their operations and other pertinent issues in the construction industry. What are the key elements in your management style as a manager? The main element in management is setting a target and …

Despite a notable decline in profits, the Vision Group will pay its shareholders a dividend of Shs 50 per share, which translates into a total of Shs 1.4 billion. The dividend, which will be paid on or before Jan 18, 2017, is a little higher than the Shs 35 the …

Johannesburg, South Africa | AFP | Political drama, corruption allegations and even wedding party controversies — the Gupta family, one of South Africa’s wealthiest, has been accused of wielding undue influence behind the scenes. Now the immigrant family is at the centre of a row battering President Jacob Zuma after …

TRADE FAIR: Unstable prices, tough economic times scare international exhibitors I arrive at the Uganda Manufactures Association grounds in Nakawa, Kampala on Oct.07 at around 9am for the 24th Uganda International Trade Fair.  After making my way through the muddy parking lot to the gate, I join a queue of …