Business

Kigali, Rwanda | Xinhua | The African Development Bank (AfDB) is setting up youth entrepreneurship investment banks that will help grow youth-based wealth for Africa’s young population, the bank’s president Akinwumi Adesina announced Tuesday. The banks, to be rolled out by the end of this month, will act as new financial …

  Kampala, Uganda | THE INDEPENDENT | Cigarette dealer, British American Tobacco Uganda, will pay its shareholders Shs 209per share, translating into Shs 10.2billion as dividend. This is nearly 50% lower compared to Shs 19.9billion paid in 2020 due to a drop in profit. BATU pays 100% of its profit as …

Kampala, Uganda | THE INDEPENDENT | In a bid to help more people realise their dream of land and home ownership, Absa Bank Uganda has introduced land purchase loans. These loans will enable customers to access affordable financing for the purchase of land in Greater Kampala and select cities in Uganda. …

  London, UK | THE INDEPENDENT | The UK Government has stepped down from funding Financial Sector Deepening Uganda (FSDU) and handed over that role to the Bill and Melinda Gates Foundation, it said on June 15 in a media statement. Since 2015, the UK Government has invested Shs85billion (£17m) …

 The program is voluntary and is based on the informed assessment and judgement of the participating financial institutions Kampala, Uganda | THE INDEPENDENT | Fifteen Ugandan banks have signed onto the TradeClear platform to ease and boost interbank trade within the country. TradeClear is an interbank trading platform managed by …

  Kampala, Uganda | THE INDEPENDENT | The National Social Security Fund (NSSF) Board Chairman Dr. Peter Kimbowa has asked MPs to embrace creation of alternative sources of income and ensure proper monetary discipline measures if they are to become financially independent. “The new poor are the immediate former MPs …

COMMENT | Samson Tinka | I bumped into Businge Rwabwogo, General Manager Operations at Mukwano Group of Companies at Entebbe International airport recently. One area that naturally crowned our discussions was sunseed cooking oil scarcity in Uganda and the region at large. Sometime in March this year, I had actually approached …

  A huge chunk of 2022/23 Shs48.1tn budget will go to the usual sectors of works and transport, security, health and education NEWS ANALYSIS | ISAAC KHISA | Uganda’s national budget, read on June.14, has drawn mixed reactions from various players, with manufacturers partly welcoming it but the civil society …

NSSF in partnership with VISA and Centenary Bank unveiled the smartcard for its member, a first in Sub-Saharan Africa. Thembeka Ngugi, Senior Director, Marketing – Sub Saharan Africa, Visaspoke to The Independent about the latest innovation and the digital transaction space. ****** What does this partnership between VISA, NSSF and …

Guangzhou , China | THE INDEPENDENT | Uganda Airlines has secured departure and landing slots at the Guangzhou Baiyun International Airport as it prepares for the commencement of long-haul flights to the UK, Saudi Arabia and India. The airline announced the change through its social media handles on Saturday. ” …