Business

Kampala, Uganda | THE INDEPENDENT | There is anger and frustration among a section of persons affected by the impending construction of the East African Crude Oil Pipeline-EACOP, as the project implementers move to secure land in Kyotera and Rakia districts. The aggrieved include 21 households that will be physically displaced as …

Kampala, Uganda | THE INDEPENDENT | Uganda Investment Authority (UIA) has partnered with the Uganda Peoples Defence Forces (UPDF) to construct 25 industrial parks across Uganda. The partnership was Thursday formally announced in a meeting between UIA’s Director General Robert Mukiza and the Managing Director of National Enterprise Corporation (NEC), Lt …

  Nairobi, Kenya | THE INDEPENDENT |  Equity has been named the Best Regional Bank in East Africa at the 2021 African Banker Awards. According to a statement, the award was conferred to the bank for its strong and consistent financial performance, its role in leading the disruption of Fintech …

Entebbe, Uganda | THE INDEPENDENT |  President Yoweri Museveni has likened himself to Pontius Pilate in the Bible, as he reluctantly agreed to the workers mid-term access to their saving in the National Social Security fund. He today directed the Minister for Gender, Labour and Social Development Betty Amongi to make …

Abidjan, Ivory Coast | THE INDEPENDENT |   The African Development Bank (AfDB), through its Financial Sector Development’s Trade Finance operations, has launched a Transaction Guarantee instrument designed to provide up to 100% cover for non-payment risk to regional and international banks, for trade transactions initiated by local banks in Africa. The …

Dozens of local firms are still demanding for payments from Juba for goods supplied more than a decade ago Kampala, Uganda | ISAAC KHISA | Africa’s newest state, South Sudan, has by-passed Uganda and signed a trade agreement with Malawi for the supply of grain and other agricultural commodities. This …

East African Breweries Limited (EABL) recorded 15% growth in revenue to Kshs86.0 billion for the year ended June 2021. | THE INDEPENDENT | Profit before tax was up 2% to Ksh10.9 billion. The slower profit growth rate was driven by the impact of cost inflation, adverse foreign exchange impact and …

The second wave of the pandemic pose downside risks to credit growth Kampala, Uganda | JULIUS BUSINGE | Banks have recently received more loan applications and extended more credit to borrowers amidst the coronavirus pandemic. This is good for jumpstarting the economy that has been hit by COVID-19 lockdowns. Till …

Fintechs present regulatory challenges as some technology providers are not domiciled locally Kampala, Uganda | ISAAC KHISA | Commercial banks should walk with clients in the development of different products to succeed, according to the Kenya’s Central Bank Governor, Patrick Njoroge. “Banks that have succeeded or that are succeeding are …

Masaka, Uganda | THE INDEPENDENT | The long-awaited plan for the rehabilitation of the Masaka-Kyotera-Mutukula road has been deferred as the government, awaits funding from the African Development Bank. The rehabilitation project will be funded by an AfDB grant under the NEPAD Infrastructure Project Preparation Facility (NEPAD-IPPF). According to Prime Minister Robinah …