Business

The Central Bank Rate raised from 6.5 to 7.5% to tame inflation Kampala, Uganda | JULIUS BUSINGE | Bank of Uganda has for the first time in the last two years raised the central bank rate by 1% percentage point to 7.5% to tame inflation, setting the pace for commercial …

Kampala, Uganda | THE INDEPENDENT | Members of Parliament from the fishing communities have criticised the discriminatory issuance of artisanal licences to fishermen. While addressing the media at Parliament on Monday, 06 June 2022, the MPs accused the Ministry of Agriculture, Animal Industry and Fisheries of deliberately frustrating and denying Ugandans fishing …

Kampala, Uganda | THE INDEPENDENT | Small scale traders want government to reduce taxes levied on electronic transactions, so as to increase their usability at the grassroots. Speaking to URN on Monday, business owners said that cashless transactions quicken trade and are more desirable for both consumers and traders alike, however, …

Jinja, Uganda | THE INDEPENDENT | Busoga East police have recovered 666 bags of cement that were stolen from a driver at Musita trading center in Mayuge district. The cement was recovered from a warehouse in Idudi B ward in Idudi town council in Bugweri district. The warehouse owner fled …

Moroto, Uganda | THE INDEPENDENT | Local governments in Karamoja districts are losing revenue accruing from the transportation of mineral transportation as miners withdraw from the fields citing the insecurity in the region. Karamoja region has experienced unrest for the past few months following the escalation of ambushes and raids …

Arua, Uganda | THE INDEPENDENT | Fish farmers in Arua district have received 74,255 fingerlings through the Operation Wealth Creation-OWC program and the National Agricultural Advisory Services-NAADs, to boost production. These include 43,000 tilapia fingerlings and 31,255 fingerlings for the African cat fish. The fingerlings were distributed to over 20 fish farmers …

Cape Town, South Africa | MELISSA BRITZ  – ALL AFRICA.COM | Climate activists have demanded answers from Standard Bank for its involvement and continued support for oil and gas projects on the African continent, even as the worst effects of the climate crisis are being seen and felt. Activist shareholders …

Nairobi, Kenya | THE INDEPENDENT | The private sector has blamed the banking industry in the East African Community for doing little to promote trade and investment, which has kept the region’s development slow. The investors say banks have not helped them access the financing needed to boost trade to catch …

Bukomansimbi, Uganda | THE INDEPENDENT | The government’s decision to directly charge coffee factories has upset coffee processors in Bukomansimbi district, who say it is likely going to force them out of business. In the 2018/19 budget framework, the government introduced a one percent direct tax on coffee buyers and …

Kampala, Uganda | THE INDEPENDENT | Traders at the Namugongo Catholic Shrine say they are counting losses after the Martyrs Day celebrations. According to the traders, they hoped that when the celebrations end, they would have made profits, but this wasn’t the case. The low business mood is reflected by …