More funding, capitalisation of the bank coupled with increase in loan disbursements supported the growth in 2020 Kampala, Uganda | JULIUS BUSINGE | Uganda Development Bank Limited has realised a profit after tax for the year 2020 of Shs22bn, representing a 118% growth from Shs10.4bn reported in 2019 amidst the …
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Many have attempted to apply for the funds but failed to get it Kampala, Uganda | JULIUS BUSINGE | Lilian Alinda is the proprietor for a two-year old company, Moment Fashions & Films Limited located in Kayunga along Gayaza Road. When government announced a total national lockdown in March last …
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Kampala, Uganda | THE INDEPENDENT | Tourism sector players have been advised to formalize their businesses and register them with the Uganda Tourism Board if they are to benefit from government programs. Since September, sections of players have been crying out over a rescue package jointly provided by the government and …
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Tough times ahead as miscalculated spending, political activities and coronavirus threaten fast recovery of economic activities Kampala, Uganda | JULIUS BUSINGE | Uganda’s economy has been on a recovery path following the easing of COVID-19 pandemic lockdown restrictions, but the uncertainty surrounding the upcoming general elections is the latest concern, economists …
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Kampala, Uganda | THE INDEPENDENT | The Uganda Development Bank-UDB has so far received 41 applications from tourism operators seeking to access funds to recover from the effects of Covid-19. In July, the Ministry of Tourism negotiated a 6M Euro (25.2 billion) stimulus package from the EU towards the private …
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New markets, increased consumption, and stable EAC economy will boost returns, company executives say Kampala, Uganda | JULIUS BUSINGE | Executives at Pearl Dairy Farms Limited expect a boom in business in the next five years supported by an increase in milk consumption, new markets and the easing of trade …
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Kasese , Uganda | THE INDEPENDENT | Lodge owners and tourism operators have appealed to the European Union (EU) delegation in Uganda to consider clear accessibility of the Euro 6 million grant (25.2 billion Shillings) that was recently extended to support the private tourism sector. The EU ambassadors were on …
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Kampala, Uganda | THE INDEPENDENT | An employee whose loan is guaranteed by the employer to be recovered from their salary but is wrongfully dismissed from their job is not liable to pay the loan, the court has ruled. The Court of Appeal upheld an earlier ruling by the Industrial …
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Kampala, Uganda | THE INDEPENDENT | The Private Sector Foundation and Civil Society Organisations have welcomed the budget saying it reflects Uganda’s current situation and looks at reviving vital sectors. On Thursday, the Minister for Finance Matia Kasaija passed 45 trillion shillings budget for the 2020/2012 financial year. Dr Elly …
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Kampala, Uganda | Khisa Isaac | Uganda Development Bank (UDB) is considering reducing interest rates by two percentage points to 10% on loans to be advanced to local companies involved in various productive activities as the coronavirus containment measures takes toll on the economy. This development comes in the wake of the …
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