Business

The government is already struggling to meet revenue targets due to a slowdown in economic performance ANALYSIS | TIMOTHY NJAGI NJERU | There were early warnings that Kenya’s long rain season – between March and May – was going to bring above-normal rainfall. The extreme intensity of the rain has resulted in devastating …

However, the government owes KRECS Shs700 million for funding new connections. Kampala, Uganda | THE INDEPENDENT | State-owned Uganda Electricity Distribution Company Ltd (UEDCL) has officially taken control of Kyegegwa Rural Electricity Cooperative Society (KRECS) Limited, a key player in power distribution across several central districts, firming its grip on the …

Kampala, Uganda | THE INDEPENDENT | Uganda’s national carrier, Uganda Airlines, has signed a short-term lease agreement with Global Airlines based in Johannesburg, South Africa, to enhance its operational efficiency as some of its aircraft proceed on scheduled maintenance. The airline operates a fleet of six aircraft including four CRJ’s and …

The anticipated dual listing of Coca-Cola’s African bottling business in Johannesburg and Amsterdam indicates a strong market rebound as fintech leader Flutterwave mulls a similar move. SPECIAL REPORT | BIRD AGENCY | Coca-Cola Co. is advancing plans for a significant initial public offering of its African bottling arm as soon …

Kampala, Uganda | THE INDEPENDENT | Uganda’s industrialists, supported by financial institutions, have decided to lead efforts towards the establishment of an industrial bank. The proposed Uganda National Industrial Bank would serve to reduce the cost of Finance that the private sector persistently fronts as the major challenge to its …

Kampala, Uganda | THE INDEPENDENT & URN | The Uganda Revenue Authority (URA) has hailed the Digital Tax Stamps (DTS) for creating a fair market for compliant manufacturers. URA Commissioner General John Musinguzi Rujooki said that the DTS has helped to eliminate illicit goods and ensure a level playing field for …

At least 10 Kenya-based startups, including Notify Logistics, WeFarm and Kune, have shut down since 2021 because of worsening macroeconomic conditions ANALYSIS | ADONIJAH NDEGE | iProcure, the Kenyan agritech startup backed by Safaricom’s Spark Fund, is now under administration after failing to settle undisclosed debts. KPMG’s advisory arm has been …

Kampala, Uganda | THE INDEPENDENT | The State Minister for Trade, Industry and Cooperatives in charge of Industry, David Bahati has teamed up with the Uganda Manufacturers Association to demand for lower cost of credit by the commercial and development banks so as to meet the intended needs of the businesses. …

Kampala, Uganda | THE INDEPENDENT | Stanbic Bank Uganda is the platinum sponsor of the popular Vumbula Uganda Festival, a 3-day extravaganza that showcases Uganda’s rich tourism attractions, art, heritage, music, and culture. This year’s edition takes place between May 31st and June 3rd at the spacious Nile Nest resort in …

     Kampala, Uganda | THE INDEPENDENT | NCBA Bank Uganda has marked a significant milestone in its journey towards environmental sustainability through a new partnership with the National Forestry Authority (NFA) aimed at planting 20,000 Trees in 2024 equivalent to 30 Hectares. The trees will be planted at Jubiya …