Business

The government’s decision to take over Nalubaale and Kira hydropower dams comes barely a year following a similar step on Namanve Thermal Power Plant. Kampala, Uganda | KHISA ISAAC | Ugandan government has repossessed assets of the country’s two oldest hydropower dams Nalubaale and Kira downstream of R. Nile in Jinja …

Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda had downplayed talk of negative effects on the global economies in light of the developments around the US dollar and the renminbi, the Chinese currency. Talk of a possible US dollar collapse has dominated international headlines, with some terming it imminent, …

Kampala, Uganda | THE INDEPENDENT | The first quarter of the year ended with a largely positive outlook as strengthening customer demand continued to drive improvements in business conditions in the Ugandan private sector, according to the Stanbic Purchase Managers Index for the month of March, released today. The headline PMI …

Kampala, Uganda | THE INDEPENDENT | PostBank has announced its financial results with a 19% increase in net profit for the year ended December 31st, 2022. The state-owned bank reported a net profit of UGX. 15.1 billion, a solid year-over-year growth of 19.3% up from the UGX. 12.2 billion net profit …

Kampala, Uganda | THE INDEPENDENT | dfcu Bank Limited has announced the appointment of Charles M. Mudiwa as Managing Director and Chief Executive Officer, effective 11th April 2023. The Bank announced on April 6 through the media. Mudiwa brings on board over 26 years of experience in Banking, with strong business …

Arua, Uganda | THE INDEPENDENT |   Arua Central Division Council has proposed to levy an annual fee of 12,000 Shillings on Boda Boda operators. This is part of the local revenue enhancement measures for the next financial year. The new tax proposal is contained in the draft budget estimates of …

Kampala, Uganda | THE INDEPENDENT |  Uganda Revenue Authority – URA is concerned that it will forego up to Sh2 trillion in tax expenditures in the next financial year. The URA Commissioner General, John Musinguzi, revealed this on Thursday while appearing before Members of Parliament on Parliament’s Committee of Finance …

Kampala, Uganda | THE INDEPENDENT |  Bank of Uganda has decided not to further tighten money circulation in the economy by maintaining the Central Bank Rate at 10 percent. This decision by the Monetary Policy Committee was based on the fact that inflation is starting to slow down from the …

Kampala, Uganda | THE INDEPENDENT |  The head of the Civil Division of the High Court Judge Musa Ssekaana has advised unmarried couples staying together to sign agreements that will streamline the ownership of property so that when the relationship breaks down, they have some legal cover. Ssekaana was ruling …

Kampala, Uganda | THE INDEPENDENT | Security agencies are on the spot for defaulting water bills amounting up to 62.7 billion Shillings. The Corporation’s Managing Director, Silver Mugisha revealed that during the Financial Year 2021/2022, the Ministry of Defense and Veteran Affairs, Uganda Police Force, and Uganda Prison Services failed …