Business

First oil expected in 2025 Kampala, Uganda | RONALD MUSOKE | Finally, the international oil companies, TotalEnergies SE and the China National Offshore Oil Corporation (CNOOC) announced they are ready to produce oil in Uganda in a US$10 billion project. Reaching this point had taken a whopping 15 years of …

Entebbe, Uganda | THE INDEPENDENT | For the first time since the first COVID-19 lockdown in March 2020, Boda Boda (motorbike) riders will be allowed to operate 24 hours starting Monday, February 7. President Yoweri Museveni announced the lifting of one of the key lockdown measures today, saying one of …

Masindi, Uganda | THE INDEPENDENT | President Yoweri Kaguta Museveni has commissioned the $15million Kinyara Industrial White Sugar Refinery plant in Masindi District. The refinery which was commissioned yesterday, is the first in East Africa constructed by Kinyara Sugar Ltd in Bujenje county Masindi district. It will produce 60,000 metric …

Hoima, Uganda | THE INDEPENDENT | The Auditor General John Muwanga has urged adequate capitalization of the Uganda National Oil Company (UNOC) and its subsidiary companies to enable government commercial participation in the strategic oil and gas sector. According to Muwanga’s new audit report for financial year 2020/2021, a total …

Addis Ababa, Ethiopia | Xinhua | Africa welcomes the “generous offer” China is set to provide members of the African Union (AU) to help augment exports in the coming years, a senior official has said. Wamkele Mene, the secretary-general of the African Continental Free Trade Area (AfCFTA), told Xinhua that …

  Kampala, Uganda | THE INDEPENDENT | Hundreds of furniture dealers in Bwaise in Kawempe Division are counting losses following a fire outbreak early this morning. The fire that started around 4.00 am razed more than 150 timber workshops, leaving property worth hundreds of millions destroyed. Affected traders say by the …

Madrid, Spain | Xinhua | The Spanish government will next week revoke the mandate for wearing facemasks against the infection from COVID-19, Spanish Health Minister Carolina Darias said on Friday. A proposal for that will be approved in a cabinet meeting on Tuesday, the minister told local radio station Cadena …

  Kampala, Uganda | THE INDEPENDENT | Several people are reported to be injured after a fire at Vivo Energy fuel depot at the Shell Depot on 7th Street in the Industrial area, Kampala. The fire was quickly put off. Police confirmed their station at Kabalagala registered a fire outbreak …

Kampala, Uganda | THE INDEPENDENT | “D-Day means Day of Departure, and to us, its day of departure to work.” This is what the announcement of the Final Investment Decision on Tuesday means for the oil and gas joint venture companies, according to Total Energies Chairman and Chief Executive Patrick Pouyanné. …

Non-governmental Organisations have advised the government to expedite passing of the local content bill and increase funding for the Small and Medium Enterprises in the upcoming national budget. Kampala, Uganda | JULIUS BUSINGE | In a joint communique dated Jan.15, the NGOs under their umbrella organisation, Civil Society Budget Advocacy …