Business

Nairobi, Kenya | THE INDEPENDENT | The private sector has blamed the banking industry in the East African Community for doing little to promote trade and investment, which has kept the region’s development slow. The investors say banks have not helped them access the financing needed to boost trade to catch …

Bukomansimbi, Uganda | THE INDEPENDENT | The government’s decision to directly charge coffee factories has upset coffee processors in Bukomansimbi district, who say it is likely going to force them out of business. In the 2018/19 budget framework, the government introduced a one percent direct tax on coffee buyers and …

Kampala, Uganda | THE INDEPENDENT | Traders at the Namugongo Catholic Shrine say they are counting losses after the Martyrs Day celebrations. According to the traders, they hoped that when the celebrations end, they would have made profits, but this wasn’t the case. The low business mood is reflected by …

Entebbe, Uganda | THE INDEPENDENT | Uganda National Roads Authority-UNRA has collected a total of shillings 13 billion from tolling the Kampala-Entebbe expressway in the last four and a half months, the contractor Egis has revealed. Joy Nabasa, the public relations manager of Egis, which maintains the road and collects the …

  Kampala, Uganda | THE INDEPENDENT | PureBorn has strengthened its presence in Uganda by naming a team of brand ambassadors. The brand ambassadors that include philanthropist, model and socialite Judith Allen Heard, are mothers of mostly nappy wearing babies who will create content tailor made to engage and learn more about PureBorn. …

Kampala, Uganda | Julius Businge | Kansai Paint Co., Ltd. (“Kansai Paint”) has entered into an agreement to sell its Africa business to Akzo Nobel N.V. (“AkzoNobel”), a global paints and coatings company, it said on June 2 in a statement. The sale is subject to the regulatory approvals of the …

Kampala, Uganda | THE INDEPENDENT | Business has picked up this morning at Namugongo Martyrs shrine according to traders. The most sought-after items include jerry cans, scarfs, rosaries, and other religious items. By 9:00am in the morning, a number of pilgrims were seen buying jerrycans costing between 1,000 and 3,000 Shillings …

Kampala, Uganda | THE INDEPENDENT | The idea of mobile phone lending was first made a reality in Uganda IN 2016 when Commercial Bank of Africa, CBA, partnered with MTN to launch the MoKash product. This was an expansion of MTN’s Mobile Money services to diversify into savings and loan products …

Kampala, Uganda | THE INDEPENDENT | MTN Uganda shareholders are due to get their first dividends since the company listed on the Uganda Securities Exchange, with the register for those eligible closing June1. The shareholders will have their dividends paid on June 24, with each share earning the holder 4.706 shillings, …

CNOOC’s work at the Kingfisher Development Area stand at less than 10 percent ahead of commercial oil production in 2025 | THE INDEPENDENT | Land acquisition a head of oil and gas developments in the Albertine region stands at 99%, according to the oil companies. But some of the land …