Business

KAMPALA, Uganda | Xinhua | Uganda’s coffee exports have recorded the highest foreign exchange earnings in 30 years due to improved quantity and quality, a state regulator said Thursday. The country earned 1.14 billion U.S. dollars from coffee exports in fiscal year 2023/2024, up from 846 million dollars in the …

Michael Atingi-Ego confirms Bank of Uganda has joined “Shining Gold Rush” Kampala, Uganda | THE INDEPENDENT | When the Bank of Uganda announced its intention to purchase gold from artisan, small, medium, and large-scale miners, some players in the precious stones industry wondered why a sudden policy reversal. It has been …

DP World plans to invest US$3 billion in expanding ports across Africa in the next 3 to 5 years – a response to the increasing global demand for Africa’s critical minerals. This surge in investment extends beyond ports, encompassing crucial railway infrastructure that links mines to ports. SPECIAL REPORT | …

Entebbe, Uganda | THE INDEPENDENT | President Yoweri Museveni Thursday launched the Lake Victoria Logistics facility in Kawuku Bwerenga, a project to transport and store oil from the port of Kisumu to Entebbe using oil tanker ships. He said it would crucially help the country stop relying solely on road transport …

Kampala, Uganda | THE INDEPENDENT | Uganda’s private sector continues to thrive despite higher utility, rent, material, and staff costs, according to the latest Stanbic Purchasing Managers’ Index (PMI). The PMI dipped from 54.1 in May to 51.9 in June, indicating continued growth but at a slower pace. “The private sector …

Kenyan study measures the impact of helping family ANALYSIS | MUNIR SQUIRES | Imagine working hard to build your business, only to find that your success brings about a wave of requests for help that you can’t turn down. This is a reality for many in African communities, where sharing income is …

Even with Nigeria releasing almost 98% of the funds that were blocked in the country, the continent continues to grapple with blocked funds ANALYSIS | AENCIES | African aviation industry continued to show resilience and growth in the second quarter of 2024, navigating economic challenges and seizing opportunities. Airlines across the …

Kampala, Uganda | THE INDEPENDENT | The Deputy Speaker of Parliament, Thomas Tayebwa, has hailed the cooperation between Uganda and France in the areas of trade, investment and diplomatic relations as a formidable uniting factor that ought to be fostered for further growth. “We are looking forward to increasing the trade …

Kampala, Uganda | THE INDEPENDENT |  Michael Mugabi, the Managing Director of Housing Finance Bank and Board Chairman of the Uganda Institute of Banking & Financial Services (UIBFS), has encouraged financial service providers to adopt technological innovations like digital banking, mobile money, and fintech solutions to boost efficiency, lower costs, …

KAMPALA, UGANDA | THE INDEPENDENT | Fuel dealers in Uganda anticipate that the involvement of the Uganda National Oil Company (UNOC) as the sole importer of fuel will lead to improved pump prices. Geoffrey Elyanu, the Supplies and Distribution Manager for VIVO Energy Uganda, expressed this expectation during a media engagement …