Tag Archives: Julius Businge

Business leaders want economic reforms to boost the economy Planned government borrowing and increased taxes to fund the Shs29 trillion budget for financial year 2017/2018 have left investors and business leaders worried about the coming year, ahead of the budget announcement next week, an informal survey by The Independent has …

The taxman plans to increase sentisation to meet targets of the program Last financial year, Uganda Revenue Authority (URA) set an ambitious target to collect Shs420bn from small businesses across the country but preminary performance shows that it is likely  not to be as expected. Data from the URA shows …

Banks setting up company to wipe bad loans off their balance sheets After years of struggling to cope with borrowers failure to pay loans, Ugandan commercial banks have come together to form a joint company to deal with the problem on their behalf. Formation of the company currently called the …

Rachel Grimes is the President of International Federation of Accountants (IFAC), the global umbrella body for all accountants. The Independent’s Julius Businge spoke to her at the opening of the five day 4th Africa Congress of Accountants (ACOA) held in Kampala from May 2-5.   How important is this meeting to …

Pirelli tyres sales to grow 20% in the next six months City Tyres, a subsidiary of Mandela Group of Companies in Uganda, expects a 20% growth in sales for Pirelli tyres in the next six months on the back of the ongoing new Formula One (F1) campaign. Mandela Group of …

The International Monetary Fund (IMF) expects Uganda’s gross domestic product growth to record anywhere between 3.5%-4% in FY2016/17, lower than 5% that had earlier been projected. This was announced on Tuesday by Axel Schimmelpfennig, the head of IMF mission that visited Kampala, Uganda from May 2-15, 2017 to conduct the …

Experts commend move to protect bankrupt telco’s assets but say it needs a business plan that works Business at Uganda’s oldest and troubled telecom company, Utl, took another twist when the government on April 28 announced it has finally put it under provisional administration. The government, which recently took over …

Listed enterprises record 50% increase in sales Nabukeera Plaza is a large building in downtown Kampala which is home to an extensive array of cubicle-sized shop where an army of traders peddle clothing, home appliances, personal care products, food and drinks and more. That description fits any of the numerous …

President Yoweri Museveni has called on professional accountants in Africa to join agencies involved in the fight against corruption as a step towards contributing to prosperity for all. “We have generated a lot of money and we need someone to record it well and that is where you the accountants …

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 …