Business

ANALYSIS | AGENCIES | Africans face a high rejection rate for visas to enter the Schengen group of countries. The group is made up of 29 European countries that have officially abolished border controls at their mutual borders. A Schengen visa is an entry permit for non-EU nationals, which would allow …

The fleet growth is designed to support the expansion of international operations into destination such as London in the United Kingdom, Guangzhou in China, Jeddah and Riyadh in Saudi Arabia ANALYSIS | PROF.DR. WOLFGANG H. THOME | After witnessing rapid growth over the past five years – apart from the …

Kampala, Uganda | THE INDEPENDENT | Pay TV firm, MultiChoice Uganda is set to increase its pay TV subscription fees by up to 6%, effective October 1, 2024. The price adjustment will affect both DStv and GOtv customers, with tariff increases ranging between 2.9% and 6%. Although no specific reason was …

Kampala, Uganda | THE INDEPENDENT | Stanbic Bank has launched a new campaign, ‘Oli Sorted for Shuwa’, aimed at providing a financial lifeline to its consumer and commercial clients struggling with cash flow, expensive loan repayments, or school fees ahead of the new term. The campaign is open to all Stanbic …

Kampala, Uganda | THE INDEPENDENT | Bank of Baroda has posted a 12.3% decline in net profit for the six months ending June 30, 2024, with profits falling to Shs 59.8 billion. This drop in profitability comes despite an increase in revenues, which was offset by a sharp rise in interest …

2023 FinScope Uganda survey shows that 60% of Ugandans are saving with a significant portion of the population relying on informal means Kampala, Uganda | THE INDEPENDENT | Equity Bank has unveiled a range of new digital savings products designed to help customers save seamlessly, grow their money and reach their …

Savers set to earn double-digit return on their contributions for the last financial year Kampala, Uganda | THE INDEPENDENT | Uganda’s National Social Security Fund (NSSF) saw its earnings rise by 15% to Shs 2.53 trillion for the financial year ending June 30, 2024, driven by gains across its investment portfolio, …

Uganda’s coffee exports to China soar on account of quality beans KAMPALA, Uganda | Xinhua & The Independent | Uganda’s coffee exports to China surged fivefold in August compared to the previous month, according to a report by the Uganda Coffee Development Authority (UCDA). The UCDA’s latest report, released Monday, …

Mbale, Uganda | THE INDEPENDENT | Bugisu Cooperative Union (BCU) is demanding additional compensation from the government for 619 acres of land currently occupied by Mbale Industrial Park. BCU owned over 800 acres of land in Doho, Industrial City Division, Mbale City, but 619 acres were sold to the government in …

  A Nairobi-designed digital wallet service is nipping at the heels of Eswatini’s mainstream banks and telcos, proving that African expansion can be a gainful strategy for Fintech startups. SPECIAL REPORT | BIRD AGENCY | Instacash, a mobile money platform, has begun to break the decades-long hold of traditional banks …