Business

What it means for clients and banking sector  Kampala, Uganda | JULIUS BUSINGE | Kenya’s I&M Bank has completed the majority acquisition of Orient Bank Ltd from 8 miles LLP and Morka Holdings Limited, executives said on April.30. The Kenyan lender follows the footsteps of DTB, KCB, Equity and NCBA …

Fort Portal, Uganda | THE INDEPENDENT |  The Minister of Local Government, Raphael Magyezi, has pledged the ministry’s support to Tooro kingdom development projects.    Magyezi made the promise on Monday after touring some of the projects that the kingdom is undertaking in Fort Portal Tourism City. The kingdom officials requested …

But, it recorded positive growth in assets and customer deposits amidst coronavirus pandemic threat Kampala, Uganda | JULIUS BUSINGE | Standard Chartered Bank has reported a dip in profit after tax by 42% from Shs124bn in 2019 to Shs72bn in 2020, according to its financial results released on Apr.29. Overall …

Kampala, Uganda | THE INDEPENDENT |  The partners in the oil and gas industry in Uganda intend to supply solar energy to power the East African Crude Oil Pipeline in transporting crude from Hoima in western Uganda to Tanzania’s Tanga Port. The energy will be used at the six pump stations …

Kampala, Uganda | THE INDEPENDENT |  Buganda Kingdom has asked President Yoweri Museveni to ensure the return of all kingdom properties in his new five-year term. This comes ahead of Museveni’s swearing-in ceremony on Wednesday.  The president-elect secured a sixth term in the 14th January 2021 general election in which he …

  Kampala, Uganda | THE INDEPENDENT | Security has announced that the John Babiiha Avenue will be closed off during the swearing in day of President Yoweri Kaguta Museveni. Museveni will be swearing in for his sixth elective term at Kololo airstrip on May 12th. Traffic police commander for Kampala …

Appreciation was mainly driven by inflows from offshore investors, NGOs, coffee export receipts and non-financial institutions amidst demand from oil Kampala, Uganda | THE INDEPENDENT | Uganda Shillings current strength against the United States Dollar is causing discomfort within the business community, considering how it might boost or affect their operations. The Uganda …

Kampala, Uganda | THE INDEPENDENT | Government plans to collect 22.63 trillion Shillings with over 20.83 trillion coming from tax revenue in the coming financial year 2021/2022. This is to help finance the 44.77 trillion Shillings budget passed by parliament. The approved budget is a decrease by 714.9 billion (1.6 percent) compared …

NRM MANIFESTO WEEK | Land is a crucial factor in Uganda’s development agenda. This calls for stability and security of land tenure system. And, the Ministry of Land, Housing and Urban Development is live to this fact since it has been working hard to create an enabling environment to enable …

Lamwo, Uganda | THE INDEPENDENT |  Over 1,000 bags of charcoal were destroyed on Thursday and six suspects arrested in crackdown against illegal loggers that was intensified in Got Kwa parish, Lokung East Sub County in Lamwo district.   The operation follows concerns raised by the local population over the indiscriminate cutting …