Business

Kampala, Uganda | THE INDEPENDENT | The government has tabled before Parliament a draft law through which Ugandans will be given priority for use of labour and other resources, during the construction of the East African Crude Oil Pipeline (EACOP). The proposed law tabled by the Minister of State for …

Kampala, Uganda | THE INDEPENDENT | The government has tabled fresh amendments to the Public Finance Management Act, to allow the Uganda National Oil Company (UNOC) access proceeds from the sale of its interest in crude oil. UNOC is a government company incorporated in June 2015 to handle the government’s …

Kampala, Uganda | THE INDEPENDENT | Hundreds of motorcycles are still parked at various police stations in the Kampala metropolitan area, two weeks after a presidential directive for the release of all motorcycles impounded for flouting curfew guidelines. Uganda has had nighttime curfew restrictions since last year when the country …

The two firms control nearly 90% of the market | THE INDEPENDENT | The looming dominance of MTN and Airtel in the country’s telecom industry following the planned exit of Africell Uganda could expose customers to poor quality of services and price exploitation, experts say. Paul Lakuma, an economist and …

  Busia, Uganda | THE INDEPENDENT | Chinese firm Wagagai gold mining company limited has embarked on the construction of a gold refinery in Busia district. Valued at $200M, the gold refinery will seat on 300 acres of land covering Alupe, Akipenet, Amagoro and Amonikakine villages in Buteba Sub-county. Speaking …

  Kampala, Uganda | THE INDEPENDENT | Stanbic Bank Uganda is joining the rest of the world to celebrate the International Customer Service week through its new campaign dubbed ‘L.O.V.E.’ The International Customer Service Week is an avenue through which brands outdo themselves to give their customers a special treat …

Kampala, Uganda | THE INDEPENDENT | About 270 driving permits have been fraudulently issued by the Uganda Driver Licensing System, an entity mandated with the scrutiny and issuance of driving licences. Charles Twine, The Criminal Investigations Directorate spokesperson has said that several employees of the company are conniving with applicants …

Kampala, Uganda | THE INDEPENDENT | Allianz, one of the world’s leading insurers and asset managers has acquired a majority stake in Jubilee Insurance Uganda. This is part of the USD 100 million investment in the East African region. The acquisition follows the execution of an agreement signed on September …

System provides Africa with greater capacity to conduct cross-border transactions, expand opportunities Kampala, Uganda | ISAAC KHISA | Pan-African multilateral lender, African Export-Import Bank and the Secretariat have rolled the Pan-African Payment and Settlement System (PAPSS), revolutionalised financial market infrastructure to enable instant, cross-border payments in local currencies between African …

The company’s share price has tumbled from Shs 256.5 during the IPO period to less than Shs100 Kampala, Uganda | ISAAC KHISA | Cipla Quality Chemical Ltd is considering widening its product portfolio as part of its new strategy to improve its fortunes in the medium term. The company has …