Business

Coffee entrepreneur Rugasira set to tussle it out with incumbent Olive Kigongo for UNCCI presidency As the Uganda National Chamber of Commerce and Industry (UNCCI) goes to the polls to elect new leaders, the battle lines have been drawn for the top job. Among those set to be elected in …

On Aug. 01, 2016, the Ministry of Energy and Mineral Development announced the completion of evaluation of seven bids for the first competitive licensing round and invited four of them to negotiate for Production Sharing Agreements (PSAs). The government will eventually issue five exploration licenses upon successful completion of the …

San Francisco, United States | AFP | Facebook launched Monday a “Marketplace” trading platform that lets users of the vast social network buy and sell goods with each other in a mighty challenge to the likes of eBay and Craigslist. The new feature puts Facebook — with a global base …

Lafarge Africa hopes to boost its market share in Uganda’s cement market through its subsidiary Hima Cement Ltd’s new plant in the country’s eastern region. The $40million plant, set to be constructed at Nyakesi in Rubongi in Tororo, is expected to increase the firm’s cement production capacity to 1.8million metric …

VIDEO: The volatile situation in South Sudan continues to have a bearing on Ugandan businesses. Steel manufacturers Roofings reveal that the company is struggling especially after their biggest market was shut due to the unending conflict. Roofings business development manager Jason Mwesigwa says that the company has lost millions of dollars …

Nile Breweries Ltd have been hailed as excellent taxpayers and named the Excel Award winners as Uganda Revenue Authority celebrated their Silver Jubilee on Saturday. The Jinja-based brewers have contributed over sh1.8 trillion to government revenue from1998 to June 2016. URA commended Nile Breweries for their organized record keeping, prompt filing and their …

  New Delhi, India | AFP | Indians have declared almost $10 billion in hidden wealth under a government amnesty on tax evasion, as part of Prime Minister Narendra Modi’s moves to crack down on huge piles of black money. Finance Minister Arun Jaitley said the four-month scheme that closed …

  Lagos, Nigeria | AFP |  Chevron and Total on Friday failed to have a court throw out a case implicating them in the alleged failure to declare billions of dollars of crude exports from Nigeria. The US and French companies are among up to 15 oil majors reportedly targeted …

Renewable electricity made up 65% of the East African region’s total installed, grid connected power generating capacity in 2015, a new report has revealed. This is significantly higher than other parts of sub-Saharan Africa where currently it stands at 28.6% and 23.5% in the ECOWAS and SADC regions respectively. Renewable Energy Policy Network …

Beijing, China | AFP | China’s richest man, real estate magnate Wang Jianlin, has warned the country’s property market is the “biggest bubble in history” — the latest alarm bell to be sounded on the world’s second largest economy. Wang, the owner of real estate and entertainment conglomerate Wanda, said …