Business

The company registered growth in profit for the second consecutive year amidst COVID-19 pandemic Kampala, Uganda | ISAAC KHISA | Uganda Clays Limited reported a sharp increase in annual profit for 2021 and has promised to return Shs 1.35 billion to shareholders as dividends subject the annual general meeting approval. …

Oil projects expected to spur other sectors of the economy Kampala, Uganda | RONALD MUSOKE | The government is impressed by the pace at which the critical infrastructure necessary for oil production that is now scheduled for the first quarter of 2025 is moving, said Ramathan Ggoobi, the Permanent Secretary …

| THE INDEPENDENT | Equity Bank Uganda and the Uganda National Oil Company on April.13 signed a Memorandum of Understanding to facilitate and strengthen collaboration between the two entities in the areas of financing and enterprise development specifically for medium and small enterprises. The areas covered in the MoU include; …

URA should make personal income taxes more progressive by raising PAYE entry threshold Kampala, Uganda | JULIUS BUSINGE | A new report published by Oxfam, Southern and Eastern Africa Trade Information and Negotiations Institute and other non-governmental organisations has identified gaps related to gender taxation, policy and administration, and that …

The lender is seeking opportunities for collaboration while becoming more agile to serve customers beyond traditional banking Kampala, Uganda | ISAAC KHISA | ABSA Bank Uganda, a subsidiary of ABSA Group, a financial services conglomerate based in South Africa, has seen its profit more than double riding on the rebound …

Mengo, Uganda | THE INDEPENDENT | Katikiro Charles Peter Mayiga of Buganda has condemned the central government’s decision to sign a coffee agreement with Uganda Vinci Coffee Company Limited- UVVCCL, a privately owned firm, to process and export Uganda’s coffee without consulting the key stakeholders. In February this year, Finance …

  COMMENT | JAMES BYARUHANGA | On February 2, 2022, Uganda made a very significant step towards realising its first oil fortunes. We witnessed the announcement of the Final Investment Decision (FID) for Uganda’s oil and gas Projects by the Total Energies EP Uganda, CNOOC Uganda Limited, the Uganda National …

Luwero, Uganda | THE INDEPENDENT | Power distributor Umeme has lost an application to block Irene Nankabirwa, the proprietor of Mutasiga Coffee Factory, from drawing money from its bank account. Umeme had sought to stay the implementation of garnishee orders issued to Nankabirwa to recover Shillings 179.3 million as costs …

Kampala, Uganda | THE INDEPENDENT | Kampala Capital City Authority-KCCA has proposed that a service provider contracted to clean the city shall be awarded a 12-month contract which is renewable only once upon satisfactory performance. For close to ten years, cleaning services in Kampala have been provided by divisional Savings …

Lusaka, Zambia | Xinhua | Zambia has started the mass export of avocados to Europe with the first consignment of over 37 tons, a senior government official said Friday. The commencement of export came after the southern African country met the phytosanitary requirements to export the fruit into Europe, said …