Structural defects and contractor delays now threaten Uganda’s energy future Kampala, Uganda | JULIUS BUSINGE | The Isimba Hydropower Dam, a flagship project in Uganda’s energy sector, was envisioned as a cornerstone of the country’s long-term development goals. Commissioned in 2019, the 183MW facility was meant to provide affordable and reliable …
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The telecom firm recorded a 19.5% increase in service revenue to Shs 3.1 trillion, fueled by a 30.5% rise in data revenue and 22.8% growth in fintech earnings Kampala, Uganda | JULIUS BUSINGE | MTN Uganda has delivered a 30.1% surge in net profit to Shs 641.5billion for FY 2024, a …
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Kampala, Uganda | JULIUS BUSINGE | Newly qualified accountants have been urged to uphold ethical values, embrace emerging technologies, and adopt a strategic mindset as they step into the evolving world of finance. Speaking as the chief guest at the Institute of Certified Public Accountants of Uganda (ICPAU) graduation ceremony in …
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Kampala, Uganda | JULIUS BUSINGE | Mumba Kenneth Kalifungwa has officially assumed the role of Chief Executive at Stanbic Bank Uganda, the nation’s largest lender by assets, revenue, and deposits, the lender said in a statement issued today – March 3. His appointment was first announced in December of …
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KAMPALA, UGANDA | Julius Businge | Despite ongoing efforts to curb counterfeit trade in Uganda, significant progress remains elusive due to regulatory bodies’ limited manpower and a lack of consumer awareness. In response to these challenges, the Anti-Counterfeit Network (ACN) has launched the Bleep App, a digital platform designed to …
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The country’s public debt now stands at Shs 93.6 trillion as of June 2024, with 27.4% of domestic revenue earmarked for interest payments Kampala, Uganda | JULIUS BUSINGE | Uganda’s rising debt burden has come under renewed scrutiny as the government prepares the FY2025/26 national budget, projected at Shs 57.4 trillion—significantly …
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But stakeholders urge the lender to accelerate private sector growth through affordable interest rates currently capped at 15% per year Kampala, Uganda | JULIUS BUSINGE | Uganda’s Finance Minister, Matia Kasaija, has urged the East African Development Bank (EADB) to implement strategies that ensure affordable interest rates for borrowing, enabling …
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Kampala, Uganda | JULIUS BUSINGE | The Insurance Regulatory Authority of Uganda (IRA) has officially announced the 4th Annual Insurance Week, set to take place from March 10 to 13, 2025, under the theme “Redefining Insurance: Trust, Innovation, and Inclusivity.” The event will be held at Millennium Park (formerly KCCA Grounds) …
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However, Kenya leads the region with a significantly higher AUM of US$ 2.44 billion Kampala, Uganda | JULIUS BUSINGE | Uganda’s Collective Investment Schemes (CIS) licensed by the Capital Markets Authority (CMA) in Uganda surpassed Shs3.85 trillion (US$ 1.05 billion) in assets under management (AUM) as at the end of Dec …
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UEGCL’s remarkable progress in financial growth and energy generation is a testament to Uganda’s commitment to sustainable energy development, according to Minister Nankabirwa Kampala, Uganda | JULIUS BUSINGE | State-owned Uganda Electricity Generation Company Limited (UEGCL) has reported a 60% increase in net profit for the 2023/24 financial year to Shs54 …
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The Independent Uganda: You get the Truth we Pay the Price
