Business

Kampala, Uganda | THE INDEPENDENT | British American Tobacco Uganda Limited has registered a 21.6% increase in net profit from Shs3.7bn to Shs4.5bn for the first six months of 2024, further showing the company’s continued growth trajectory. The company executives said on Aug.2 that the macro-economic landscape was relatively stable …

Maintaining and servicing ATMs in remote or low-traffic areas is becoming less cost-effective for banks ANALYSIS | AGENCIES | Absa, Standard Bank, and FNB have been closing ATMs over the last five years, while Capitec has significantly increased its ATM footprint. Banks in South Africa are closing ATMs due to a …

Kampala, Uganda | THE INDEPENDENT | Uganda Development Bank’s investments resulted into the creation of more than 400 additional jobs, bringing the total to 51,841 last year, underscoring the lender’s contribution towards transforming people’s lives. According to UDB’s latest Development Impact Report, titled “Transforming Lives: The Role of UDB in Driving …

EAC-CET was established to protect the common interests of various partner states by safeguarding specific sectors, and the lack of uniform application Kampala, Uganda | THE INDEPENDENT | Import costs in the East African Community states are expected to remain high under the newly implemented Common External Tariff (CET) as countries …

  Kampala, Uganda | THE INDEPENDENT | The Uganda Investment Authority (UIA) has unveiled a groundbreaking initiative to encourage traders in Kampala’s business hub, popularly known as Kikuubo, to transition from trading in imported products to manufacturing them locally. The “Transitioning Kikuubo Traders to Manufacturing” initiative” is hinged on the spirit …

Kampala, Uganda | THE INDEPENDENT | The Uganda Development Bank last year lent out more than 600 billion shillings to different projects on top of other non-financing activities, aimed at creating positive impact on the social, economic progress of the country. In measuring how successful their plans were, the Bank annually …

Kampala, Uganda | THE INDEPENDENT | ITHUBA Uganda has just announced winners of the largest LOTTO jackpot pay out in the country’s history. With ticket sales going live only nine weeks ago on June 1, 2024, the grand prize of over UGX 1 billion guaranteed jackpot has been won by …

    Kampala, Uganda | THE INDEPENDENT |  ACCA Uganda and Deloitte Uganda have announced the renewal of their strategic partnership, aimed at advancing capacity building and recognizing excellence among Chief Financial Officers (CFOs) in Uganda. This renewed collaboration confirmed July 29th, will span the next three years, reinforcing the …

Kampala, Uganda | THE INDEPENDENT | Uganda Breweries Limited (UBL) unveiled its highly anticipated consumer promotion, “Laga Swagga,” on Wednesday, promising to reward over 400 lucky consumers with a staggering 1 billion shillings in cash prizes over 12 weeks. The launch event, held at the glamorous Silver Springs Hotel, was …

Jinja, Uganda | THE INDEPENDENT | The National Agricultural Research Organization-NARO has finalized plans to introduce biodegradable hair extensions to the Ugandan market. The hair extensions are extracted from the banana stems after harvesting the banana crop. The scientists argue that parts of the banana crop which were often disposed of …