Business

Borrowers took more loans in 2021 compared to a year before Kampala, Uganda | THE INDEPENDENT | Uganda’s largest commercial banks reported a sharp growth in earnings in 2021, pointing to the recovery of the economy following its partial reopening. However, some are worried about risks arising from inflation and …

Kampala, Uganda | THE INDEPENDENT | The Government and workers’ representatives have agreed to scrap the 120 months-contribution thresh-hold requirements for National Social Security Fund-NSSF midterm access. Usher Wilson Owere, the chairperson of the Nation Organization of Trade Unions-NOTU disclosed this during the Labor Day celebrations at Kololo ceremonial grounds. The Gender, Labor …

Kampala, Uganda | THE INDEPENDENT | Up to sh400 billion has been paid out to over 18,000 claimants under the National Social Security Funds-NSSF midterm access. According to information obtained by URN, the fund made the first disbursement on March 17, 2022, after receiving 41,174 applications. Of these, only 14,690 applicants were …

Kampala, Uganda | THE INDEPENDENT | President Yoweri Kaguta Museveni has maintained his stand on prioritizing better payment of civil servants in science-related fields as workers push for the harmonization of salaries across the board and enactment of a minimum wage. He was speaking during the International Labour Day celebrations …

Amuru, Uganda | THE INDEPENDENT | Amuru police are investigating the robbery of Shillings 14.1 million from Kololo Village, Lakang Sub–County by three gunmen on Friday night. Dressed in military attire and armed with an AK-47, the gunmen stormed the home of Lacok Oola,53, at around 1 am and broke the door …

Kabarole, Uganda | THE INDEPENDENT | Kabarole district authorities are stuck with a milk cooler and cold room facility in Rwengaju model parish in Rwengaju Sub County. The National Agricultural Advisory Services – NAADs installed the state of art facilities in 2019 to promote best practices and improve the production capacity …

Kampala, Uganda | THE INDEPENDENT | The government should create sufficient and quality jobs by accelerating a sustainable and inclusive economic transformation to resume the path of inclusive growth and poverty reduction, the World Bank Group’s 2021 Systematic Country Diagnostic (SCD) has recommended. According to SCD, the government should focus …

Kampala, Uganda | THE INDEPENDENT | The Parliamentary Committee on Finance, Planning and Economic Development has commenced scrutinising the new Tax Bills for the Financial Year 2022/23. The Minister of State for Finance for General Duties, Henry Musasizi, who on Friday, 29 April 2022 presented nine tax bills before the …

Kampala, Uganda | THE INDEPENDENT | Legislators on Parliament’s Finance Committee on Friday disagreed over a proposal by government to impose a flat rate of 12 percent on the gross rental income of individuals for a year of income. The proposal is under the Income Tax (Amendment) Bill, 2022 currently being …

Kampala, Uganda | THE INDEPENDENT | The Executive Director of the Federation of Small and Medium-sized Enterprises-Uganda (FSME – Uganda), John Walugembe has urged government to involve Parliament while dealing with investors that seek opportunities in Uganda. In an interview with journalists in Kampala, Walugembe cited the current controversial coffee …