Business

Kampala, Uganda | THE INDEPENDENT | The Uganda Shilling continues its downward trend against the US dollar more than two months since its appreciation journey against the dollar was halted. It has since depreciated by more than 200 shillings. The official foreign exchange rate by the Bank of Uganda put the …

The country’s second airport is at 80% completion as the country seeks to boost growth and development in south western region Kampala, Uganda | THE INDEPENDENT | Uganda’s second largest international airport is set to open up trade and investment opportunities in the oil region upon completion. The Hoima-based airport …

Kampala, Uganda | THE INDEPENDENT | Uganda’s young start-up entrepreneurs have a positive mindset but need technical and education skills support to realize their full dreams, according to Joao Rei, a host and mentor of the Estonian-based Garage 48, a startup hackathon series turning ideas into working prototypes. Joao, who spoke …

Dar es Salaam, Tanzania | XINHUA |  Eight traders have been arrested in Tanzania’s northwestern region of Geita in connection with smuggling out of the country an unspecified amount of gold, an official said on Sunday. Doto Biteko, the Minister for Minerals, announced the arrest of the eight traders in …

Kampala, Uganda | THE INDEPENDENT | The Ministry of Education and Sports is working on a National Menstrual Hygiene Plan to regulate the price and quality of sanitary pads. Currently, the price of disposable sanitary towels ranges between 3,500 and 7,000 shillings for popular brands like Always. Rosette Nanyanzi, the …

Kampala, Uganda | THE INDEPENDENT | The Uganda Revenue Authority-URA has revealed that Value Added Tax (VAT) of more than sh40 billion has not been remitted by different retail businesses since the electronic fiscal receipt invoicing system -EFRIS system was instituted. In the bid to maximize tax mobilization in the …

Kampala, Uganda | THE INDEPENDENT | Afriland First Bank Uganda will go into Uganda’s history books as the first commercial bank to voluntarily close shop and quit the market. The move by the shareholders of the bank also makes it the shortest journey of a business entity in Uganda’s banking …

Jinja, Uganda | THE INDEPENDENT | Police in Kiira region, is investigating circumstances under which fire gutted the supplies department at Kakira sugar works limited, in Kakira town council in Jinja District. The fire emitted heavy flames which spilled over to surround the whole supplies department building at around 9.00Pm, …

London, UK | THE INDEPENDENT | Tullow Oil says it will continue operations in Africa despite plans by other operators to shift from the continent. The Anglo-Irish Oil and gas operator has over 30 licenses across eight countries in Africa and South America. It was once the lead investor in …

Kinshasa, DRC | THE INDEPENDENT | The government of the Democratic Republic of Congo (DRC) has suspended all Rwanda Air flights from Kigali, after accusing the Rwanda Government of supporting M23 rebels. “In view of the Rwanda‘s support for the M23 terrorists, it has been decided to immediately suspend Rwandair flights …