Business

Kampala, Uganda | THE INDEPENDENT | The lengthy vote counting process in Kenya is making the whole election period longer than it has been expected and hoped before, and this is influencing the activities in the financial markets. The business community in the region as a whole has been waiting …

Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda has raised the Central Bank Rate, the rate the regulator uses to control the cost of money from the banking industry, to 9 percent from 8.5 percent, at which it has been for only five weeks. The frequent Monetary Policy …

Kampala, Uganda | ISAAC KHISA | British American Tobacco Uganda has recorded a 14% increase in net profit to Shs3.9bn for the half year period ended June.30 driven largely by increase in sales revenues. Results released on Aug. 5 shows that the company’s gross revenue grew by 12% to Shs …

Fundraising from family and friends for different purposes has a long history across Africa, particularly where formal banking or insurance products have been difficult to access | FINBARR TOESLAND | It’s no secret that Africa is a continent of entrepreneurs. Not only does Africa have the highest percentage of entrepreneurs …

The move gives the lender access to Africa’s second-largest country with a population of over 93 million people  Kampala, Uganda | KAMPALA, UGANDA | Regional lender, KCB Group, has followed the footsteps of Equity Bank to venture into the Democratic Republic of Congo. KCB Group, which already has operations in …

Company CEO says it delivered a resilience half year amidst a difficult macroeconomic environment | THE INDEPENDENT | MTN Uganda has reported a 48.1% growth in profit after tax to Shs193.6bn for the first six months of 2022 amidst a tough economic environment. Wim Vanhelleputte, the company’s outgoing CEO said …

Minister says Ugandans will get the new national IDs free of charge Kampala, Uganda | THE INDEPENDENT | The National Identification and Registration Authority (NIRA) will start a new round of the national identity card registration exercise for all Ugandans in June next year, as the current IDs expire in 2024. The …

Kampala, Uganda | THE INDEPENDENT | Reports circulating on social media detailing a resolution of Uganda’s Cabinet on National Identity Cards (IDs) have been dismissed as untrue. The National Identification and Registration Authority (NIRA) sent out a response on twitter, describing the news as ‘fake news’. “We would like to …

Kampala, Uganda | THE INDEPENDENT | Xente Tech Ltd, a financial technology platform that simplifies payments and finance for businesses, has obtained the Payment Systems Operator (PSO) license from Bank of Uganda. The National Payment System Act-2020, implemented under the National Payment Systems Regulations, seeks to drive digitization of Ugandan entities as …

  Kampala, Uganda | THE INDEPENDENT & URN | Due to the increasing rate of road accidents, Uganda Police has started a name and shame campaign, one of several strategies to bring back sanity on the roads. Assistant Superintendent of Police-ASP Faridah Nampiima, who is the traffic police spokesperson, on …