Business

* The bill, which still needs passage in the Senate to become law, would prohibit TikTok from U.S. app stores unless the social media platform is spun off from its parent company ByteDance. * TikTok CEO Shou Zi Chew warned that if the bill is signed into law, it will …

The east african country is estimated to have only 65% mobile network coverage Kampala, Uganda | THE INDEPENDENT | TowerCo of Africa Uganda, a subsidiary of pan-African telecommunications service provider Axian Telecom, has secured US$40 million long-term financing from European development finance partners, including the European Investment Bank, the Development Bank …

Kampala, Uganda | THE INDEPENDENT |  The Ministry of Trade, Industry, and Cooperatives has introduced a digital registration process for credit and savings cooperative societies in the country, a move that has been welcomed by stakeholders. The Cooperatives Registry Management Information System was launched on Thursday, in Mbarara City. Mary …

The European Parliament on Wednesday approved the Artificial Intelligence (AI) Act with an overwhelming majority in Strasbourg, France. BRUSSELS, Belgium | Xinhua | The European Parliament on Wednesday approved the Artificial Intelligence (AI) Act with an overwhelming majority in Strasbourg, France. The Parliament passed the act with 523 lawmakers voting …

NAIROBI, KENYA | Xinhua | The Kenyan shilling strengthened against major world currencies, hitting a nine-month high against the U.S. dollar Wednesday. The Central Bank of Kenya placed the shilling against the dollar at 138.8, its highest level since the currency started to decline in June last year. The shilling …

Kampala, Uganda | THE INDEPENDENT | A transport consultant has asked the government to consider allowing private companies to operate railway transport on government infrastructure. Uganda’s developed rail network covers 1,250 kilometres, but currently, only about 20 percent of this is serviceable, with the rest either abandoned or closed. Currently, the …

Kampala, Uganda | THE INDEPENDENT | On March.07, MTN Uganda, through its charitable arm, the MTN Foundation, made a significant donation of tailoring, baking, and hairdressing equipment, alongside other vital resources valued at Shs 17 million to the Nottingham Trent Skilling Center. This contribution marks a critical phase in the partnership …

  Kampala, Uganda | THE INDEPENDENT | Nile Breweries Ltd (NBL) won the Silver Award in the prestigious 2023/24 Employer of the Year (EYA) Awards organised recently by the Federation of Uganda Employers (FUE). The awards held at Speke Resort Munyonyo under the theme “Employer competitiveness post-COVID” sought to measure …

Kampala, Uganda | THE INDEPENDENT | Bankers want bank agents to be allowed to conduct Bancassurance business on behalf of the financial institutions to enhance access to the services by the public. Diamond Trust Bank, named Most Innovative Bancassurance Agent 2022, says there is a need to further take services closure …

Kampala, Uganda | THE INDEPENDENT | Experts have raised a red flag, urging Ugandan banks to close digital loopholes, after Equity Bank Uganda launched investigations into cases of fraud surrounding their Stock Loan and Agent Float financing. The fraud is likely to lead to a sh65billion loss. “Looking at the press …