Business

A deregulated electricity market allows for the entrance of competitors to buy and sell electricity by permitting market participants to invest in power plants and transmission lines Kampala, Uganda | THE INDEPENDENT | Electricity consumers will have the right to choose their electricity provider, regardless of who controls the physical …

As Mozambique joins the world’s liquefied natural gas exporters with its first shipment to Europe, it’s also scaling renewable power projects to manage a regional power deficit. Maputo, Mozambique | BIRD STORY AGENCY | Last month, Mozambique’s National Petroleum Institute, INP, announced plans to begin exporting LNG gas to Europe …

Kampala, Uganda | THE INDEPENDENT & URN | TotalEnergies EP Uganda is to install 120 Megawatts of Solar Photovoltaic (PV) technology in selected parts of the country. This is a result of an agreement signed by State Minister for Energy Dr Opolot Okasai and TotalEnergies on Friday. It aims at …

Kampala, Uganda | Xinhua | President Yoweri Museveni on Friday ruled out an Ebola lockdown, urging the public to concentrate on work. “People should go ahead and concentrate on their work without worry,” Museveni said in a tweet. The president, however, said the public should be more vigilant and observe the …

  Remittance inflows to Uganda stood at US$1.08 billion in 2021 Kampala, Uganda | RONALD MUSOKE | Uganda’s rural population will now be able to access key financial services through a new mobile application known as PostalPay. The app developed by cross border payment companies –Inpay and Eurogiro –  in …

The Bank’s investment portfolio improve 15% to Shs1.8tn | THE INDEPENDENT | Uganda Development Bank Ltd (UDB) has reported that it disbursed loans worth Shs237bn in the third quarter of 2022, lower than Shs333bn that was approved in the period under review, it said in a media release dated Oct.28. …

The sector has also benefitted from a strong regulator Kampala, Uganda | ISAAC KHISA | Uganda’s insurance sector is more than seven decades old but momentous growth has only been recorded in the last 10 years as multinational and local insurers scramble for a pie of the emerging market. Big insurers …

Soroti, Uganda | THE INDEPENDENT | There was panic on a Gateway bus registration number UAL 770L, on Thursday afternoon following the death of one of the passengers in transit. The deceased has been identified as Oscar Ocen, a resident of Okoya in Abim district. Ocen has been working with Saracen Security …

But it reported revenue shortfall in withholding tax, temporary road license and export levy | THE INDEPENDENT | Uganda Revenue Authority collected net revenue amounting to Shs5.4trillion against a target of Shs5.1trillion for the three months ending September 30, representing a Shs286billion surplus. This represents a 105.58% improved performance and …

Kampala, Uganda |  THE INDEPENDENT | UAP Old Mutual is partnering with PostBank to organize a financial wellness class hosted on Twitter Spaces, Facebook as well as Zoom and YouTube. The webinar themed “Learn, Grow, Protect Your Finances,” will be moderated by TV personality, Mildred Tuhaise and is set to …