Business

Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda has accused financial technology companies, and fintechs, of refusing to apply for licenses. BOU started implementing the regulatory framework for fintechs last year and started implementing the National Payments Systems Act which provides for the regulation of the small financial …

Kampala, Uganda | THE INDEPENDENT | The fight against illicit financial flows and money laundering is being limited by the lack of knowledge of the industry by the actors, according to the Financial Intelligence Authority (FIA). According to FIA, the country has put in place most of the regulatory requirements …

Kampala, Uganda | THE INDEPENDENT | Vivo Energy Uganda has launched a 10-week ‘Bikula Bonnet and Win’ promotion with Shell Helix motor oils today. ‘Bikula Bonnet’, meaning ‘open your car bonnet’ is set up to reward over 15,000 motorists with instant prizes upon either topping up their engine oil or servicing their …

MTN launches paperless payment service, MomoBusiness in South Africa as it seeks to replicate Safaricom’s Lipa Na M-pesa’s success in Kenya. SPECIAL REPORT | BIRD AGENCY | MTN has unveiled MoMoBusiness wallet, a suite of payment solutions to tap into the growing demand for cashless transactions in the South African …

With annual demand for mushrooms of 1200 tonnes and local production of only 500, a Kenyan mushroom expert with 35 years of experience is training young growers to become millionaires. SPECIAL REPORT | BIRD AGENCY |  In a cosy workshop in Eldoret in western Kenya, Jackton Onyango Otieno, a down-to-earth, …

The case of Bank One, part of I&M Group PLC ANALYSIS | AGENCIES | Thavin Audit, Acting Head of International Banking, Bank One, talks about the key role that Mauritius-based banks are playing in Africa by structuring transactions through their international banking divisions to shape investor interest and channel funds towards …

Kampala, Uganda | THE INDEPENDENT | The oil and gas sector could suffer a setback following the expiry of the exploration licenses granted to Oranto Petroleum Limited (OPL). Oranto Petroleum has been operating in Uganda under two licenses for the Ngassa Shallow and Deep Play in Kikuube district in the …

Kampala, Uganda | THE INDEPENDENT | The State Minister for Trade, Industry, and Cooperatives, Harriet Ntabaazi, has urged Ugandan manufacturers to enhance the quality of their products to meet international standards. She emphasized that this is crucial for positioning Uganda as a significant player in the global market, ultimately promoting …

Kampala, Uganda | THE INDEPENDENT | Bank of Africa Uganda (BOA) is investigating the source and motives behind a number of letters circulating about deposit management at the bank. The letters posted on various social media sites point to a number of incidents deemed unprofessional and illegal, allegedly committed by …

Marrakech, Morocco | Xinhua |  The World Bank Group and International Monetary Fund (IMF) annual meetings opened Monday in the southern Moroccan city of Marrakech. The meetings will run from Monday through Sunday and are expected to gather more than 12,000 participants, including 190 delegations led by finance ministers and …