Business

There’s a dramatic rise in loan fraud, which surged to 46.5% as of June, up from 23.3% in March 2024 Kampala, Uganda | PATRICIA AKANKWATSA | Uganda’s banking sector is confronting a significant increase in fraud incidents, prompting experts to call for more stringent measures to address the escalating threat. Julius …

150 days left to comply with new tough EU regulations on farmers who cut forests to grow coffee Kampala, Uganda | RONALD MUSOKE | With about 150 days left before the European Union (EU) market begins implementing its tough ban on import of ‘deforestation-related products,’ Ugandan farmers, exporters, and regulators are …

Addis Ababa, Ethiopia | THE INDEPENDENT | Dozens of finance and foreign ministers met this week in Ethiopia to call for radical action to reform the international financial architecture.   The reforms are required to enable international institutions to and channel trillions of dollars towards sustainable development in Africa and …

Kampala, Uganda | THE INDEPENDENT | Electric mobility in Uganda is getting popular as commercial players join in to promote e-vehicles, the latest entrant being the Mandela Group, whose luck customers have been rewarded electric car donations. City Oil, a subsidiary of the Mandela Group, has partnered with Linglong Tyres to …

Africa is forecast to create 1.5 million new BPO jobs over the next six years, with South Africa, Kenya, and Egypt poised to benefit ANALYSIS | LENNOX YIEKE | The business process outsourcing (BPO) sector in Africa – currently employing 1.2 million full-time equivalents across more than 400 contact centres handling …

Kampala, Uganda | THE INDEPENDENT | CFAO Mobility Uganda has unveiled the latest addition to the Toyota Land Cruiser family, the All-New Land Cruiser Prado “250 series”. According to a statment from CFAO, “This model, which marks a significant milestone in the evolution of the iconic Land Cruiser, is designed …

  Farmers in Arua Gain Value Addition Skills Under s Agri-SME Skills Development Programme  Arua, Uganda | THE INDEPENDENT |  To enable them explore trade opportunities across the region, more than 150 cassava farmers and SMEs involved in different stages of the value chain in Arua District have gone through …

The government has raised the budget allocation for the extractive sector by 92% to Shs961 billion for this financial year Kampala, Uganda | THE INDEPENDENT | Small and Medium Enterprises (SMEs) have been encouraged to bolster their operational capabilities to fully leverage opportunities within the oil and gas sector. This call …

Kampala, Uganda | THE INDEPENDENT | The Principal Judge, Flavian Zeija, has called for stiffer laws and penalties for fraud offenses, especially for repeat offenders. Speaking at the Second Fraud Forum by the Uganda Bankers Association in Kampala, Justice Nzeija said fraudsters in Uganda found it easy to stay in …

Kampala, Uganda | THE INDEPENDENT | Africa’s multi-lateral lender, African Export-Import Bank has unveiled a capacity development program aimed at empowering African corporates to leverage the opportunities offered by the African Continental Free Trade Area (AfCFTA). This initiative, spearheaded by Afreximbank Academy (AFRACAD) in partnership with the AfCFTA Secretariat, is designed …