Documentary products such as guarantees, letters of credit and supply chain finance are the “core solutions that the lender expect to see continued demand for” from Chinese corporates ANALYSIS | FELIX THOMPSON | Pan-African lender Absa Bank is anticipating a significant rise in trade finance revenues on goods flows linking China …
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Kampala, Uganda | THE INDEPENDENT | The government has witnessed an increase of nearly 80 percent in local revenue collection from local governments following the transition to online and mobile payment platforms. In 2017, the government started to automate Revenue Management Systems across Local Governments, and one of the systems introduced …
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The company faces numerous challenges such as limited funding,long distances of distribution networks and high energy losses Kampala, Uganda | JULIUS BUSINGE | State-owned Uganda Electricity Distribution Company Limited has recorded a 10.5% surge in revenue to Shs88.5bn for the year ended June 2023. The company executives revealed during the Annual …
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Industry revenues are projected to reach a historic high of $964 billion ANALYSIS | AGENCIES | The profits projected for airlines in 2024 are expected to stabilize, despite net profitability forecasted to be well below the cost of capital, according to the International Air Transport Association (IATA). Industry insiders anticipate that …
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The company’s financial performance for the fiscal year 2022/2023 demonstrated robust growth, with a remarkable 63% increase in revenue, reaching Shs343.7 billion Kampala, Uganda | JULIUS BUSINGE | State-owned Uganda Electricity Generation Company Limited (UEGCL) is poised for transformative growth and sustainability as it implements its strategic plan for the period …
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COVID-19 and harsh regulations blamed Kampala, Uganda | RONALD MUSOKE | Cigarette distributor, British American Tobacco (BAT) Uganda executives have attributed the company’s recent drop in revenue to the lingering impacts of the COVID-19 pandemic and stringent tobacco control regulations enforced by the government. In their half-year performance report ending June …
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Net operating cash flow increased by 18% to Shs221 billion supported by cash collections, operating profits, optimised working capital, and financing costs during the period Kampala, Uganda | THE INDEPENDENT | Electricity distributor, Umeme has reported a 20% increase in revenue to Shs1tn for the six months of the year ending …
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The target for revenue collection in the fiscal year 2023/24 has been set at Shs29trillion Kampala, Uganda | JULIUS BUSINGE | Uganda Revenue Authority has reported Shs57bn as surplus revenue collected for the FY2022/2023, registering a big achievement given the recent years’ mixed performance that was dented by COVID-19 lockdowns and …
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Kampala, Uganda | THE INDEPENDENT | Uganda Revenue Authority is blaming politicization of revenue collection in the Ugandan public, as one of the reasons affecting compliance with tax obligations hence low revenue collections in the country. Though the amounts collected increase regularly, URA has always failed to achieve its set targets, …
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Data shows most African governments collect about 15% of their GDP in taxes compared to the 40% that is being collected by European, Asian, and North American countries Kampala, Uganda | RONALD MUSOKE | In a bid to boost revenue collection across Africa, the African Union Commission has signed a Memorandum of …
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