Business

Kampala, Uganda | RONALD MUSOKE | The European Investment Bank (EIB), the world’s largest multilateral bank, and Afreximbank, the pan-African multilateral financial institution, have joined hands to finance healthcare and pharmaceutical manufacturing projects across sub-Saharan Africa in an attempt to strengthen health resilience on the continent. The new €200 million healthcare …

Kampala, Uganda | THE INDEPENDENT | The Commissions, Statutory Authorities, and State Enterprises-COSASE on Tuesday handed over Bob Kanaabi, one of the three Directors of Securex Amenities Uganda Limited to the police over his involvement in the fraudulent acquisition of a lease for the Kampala Capital City Dispensary land. It follows …

▶ Kampala Flyover links to: ✅ Kampala-Jinja Expressway ✅ Kibuye-Busega-Mpigi Expressway ✅ Kampala-Entebbe Expressway ✅ Kampala Northern by Pass ▶ Phase 1 ✅ Junction upgrading at Shoprite & Clock Tower ✅ Road upgrading at Queensway, Entebbe, Nsambya, Mukwano & Ggaba roads ✅ Pedestrian bridges at Clock Tower, Shoprite & Kibuli ✅ Underpass at Nsambya Kampala, Uganda | THE INDEPENDENT | …

Mbarara, Uganda | THE INDEPENDENT | Mbarara City Council leaders have raised concerns about the failure of Multiplex Limited to meet the deadline for the completion of road works in the city. In May 2021, Multiplex Limited and Ditaco International Trade were awarded a joint contract to construct three roads …

Kampala, Uganda | THE INDEPENDENT | Reducing reliance on the US dollar necessitates satisfying financing requirements in local currency and enhancing local financial institutions Whenever I meet clients and investors, the one discussion I always end up having, regardless of market conditions, is on currency markets. There are often strong views …

Mbarara, Uganda | THE INDEPENDENT | Mbarara City Boda Boda riders have sued City Clerk Assy Abireeba Tumwesigye and the City Council for suspending the election of their leaders. Through their Umbrella, Mbarara City General Boda Boda Operators Association, the riders say that the City Clerk is acting in a discriminatory …

London, UK | Xinhua | HSBC, the largest bank in Europe, on Monday said it had bought the United Kingdom (UK) operations of the failed U.S. lender Silicon Valley Bank (SVB) for a single symbolic pound (1.21 U.S. dollar). The move is expected to save many British startups from huge …

  Johannesburg, South Africa | THE INDEPENDENT |  Absa Group has today reported strong normalised headline earnings of R21 billion ($1.15billion) for the 2022 financial year, an increase of 13% from the prior year and well above pre-COVID levels. The result, Absa Group said,  was driven by significantly higher pre-provision …

San Francisco, US | Xinhua | The U.S. government would not bail out Silicon Valley Bank (SVB), Treasury Secretary Janet Yellen said on Sunday as systemic “contagion” worries spread across the venture capital and technology industries. “Let me be clear that during the financial crisis, there were investors and owners …

Kampala, Uganda | THE INDEPENDENT | British American Tobacco Uganda has recorded a 6% increase in revenues to Shs 99.5bn for the year ended Dece.31, 2022, but the profit after tax declined marginally to Shs 9.9bn. The cigarettes distributor said the 4% decline in profit after tax was attributed to a …