Business

Fundraising from family and friends for different purposes has a long history across Africa, particularly where formal banking or insurance products have been difficult to access | FINBARR TOESLAND | It’s no secret that Africa is a continent of entrepreneurs. Not only does Africa have the highest percentage of entrepreneurs …

The move gives the lender access to Africa’s second-largest country with a population of over 93 million people  Kampala, Uganda | KAMPALA, UGANDA | Regional lender, KCB Group, has followed the footsteps of Equity Bank to venture into the Democratic Republic of Congo. KCB Group, which already has operations in …

Company CEO says it delivered a resilience half year amidst a difficult macroeconomic environment | THE INDEPENDENT | MTN Uganda has reported a 48.1% growth in profit after tax to Shs193.6bn for the first six months of 2022 amidst a tough economic environment. Wim Vanhelleputte, the company’s outgoing CEO said …

Minister says Ugandans will get the new national IDs free of charge Kampala, Uganda | THE INDEPENDENT | The National Identification and Registration Authority (NIRA) will start a new round of the national identity card registration exercise for all Ugandans in June next year, as the current IDs expire in 2024. The …

Kampala, Uganda | THE INDEPENDENT | Reports circulating on social media detailing a resolution of Uganda’s Cabinet on National Identity Cards (IDs) have been dismissed as untrue. The National Identification and Registration Authority (NIRA) sent out a response on twitter, describing the news as ‘fake news’. “We would like to …

Kampala, Uganda | THE INDEPENDENT | Xente Tech Ltd, a financial technology platform that simplifies payments and finance for businesses, has obtained the Payment Systems Operator (PSO) license from Bank of Uganda. The National Payment System Act-2020, implemented under the National Payment Systems Regulations, seeks to drive digitization of Ugandan entities as …

  Kampala, Uganda | THE INDEPENDENT & URN | Due to the increasing rate of road accidents, Uganda Police has started a name and shame campaign, one of several strategies to bring back sanity on the roads. Assistant Superintendent of Police-ASP Faridah Nampiima, who is the traffic police spokesperson, on …

Masaka, Uganda | THE INDEPENDENT | The Masaka City Council Roads committee has ordered strict enforcement of the physical planning regulations to stop the expansion of slums in the area. The committee which is chaired by Dr Abed Bwanika, the Kimanya-Kabonera Division Member of Parliament has instructed the City Physical …

Istanbul, Turkey | Xinhua | The second caravan of ships transporting grain from Ukraine arrived at the shores of Istanbul, according to the Turkish Defense Ministry on Saturday. Panama-flagged Navistar, which sailed from the Ukrainian port of Odesa to Ireland with 33,000 tons of corn, arrived in Istanbul at around …

NEWS ANALYSIS | THE INDEPENDENT | The prices of fuel in Uganda, particularly in Kampala have continued to rise, but at a slower rate over the last two months, compared to the sharp increases registered between March and early July. Ordinary motorists in Kampala had predicted that by the start …