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Court declares Jomayi Properties insolvent

Kampala, Uganda | THE INDEPENDENT | Jomayi Property Consultants Ltd, once Uganda’s most prominent real estate company, has been sent into liquidation after being declared insolvent. The order to wind up comes after NC Bank failed to recover sh868,250,000 from Jomayi and petitioned the court to declare the company insolvent …

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Passenger rail for Kampala set to resume

Kampala, Uganda | THE INDEPENDENT |  This Thursday, limited passenger services resume between Kampala and Namanve, following suspension last year to pave the way for the rehabilitation and upgrade of the existing line. The passenger services will feature departures from Namanve to Kampala at 6.40 and 7.45 am and evening departures …

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Road transport rates are high in E.Africa

Kampala, Uganda | THE INDEPENDENT | Road transport rates per container in East Africa remains higher than the global average impacting trade and investments in the region, according to Pauline Ukwalu from the Shippers Council of East Africa. Ukwalu, who spoke during the East African Business Council (EABC) webinar on April.25, …

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EFRIS: URA appeals to early adopters to popularize it

Kampala, Uganda | THE INDEPENDENT | The Uganda Revenue Authority (URA) has appealed to traders who are already registered on Electronic Fiscal Receipting and Invoicing Solutions (EFRIS) to popularize it. It emerges that those opposed to this solution think that it is a form of tax. Electronic Fiscal Receipting and Invoicing …

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Standard Chartered Bank doubles profits

Kampala, Uganda | THE INDEPENDENT | Standard Chartered Bank Uganda has seen a significant rise in profits, doubling from Shs 40billion to Shs 80billion for the year ended December 2023. On the other hand, Bank of Baroda experienced a 2.29% decline in profits to Shs 153billion due to increased expenditures. Similarly, …

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XENO unit trust scheme eyes Kenyan market

Kampala, Uganda | THE INDEPENDENT | Ugandan unit trust scheme, XENO Investment Management Limited, is eyeing the Kenyan market with its online platform to tap into the country’s retail investors. Launched in 2017, XENO executives said XENO Kenya received all the regulatory approvals to set up operations. “This year marks our …

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