Business

Uganda’s retirement benefits sector grows from sh15.4 trillion to Sh17 trillion, 11.1% of Gross Domestic Product Kampala, Uganda | THE INDEPENDENT |  The Minister of Finance, Planning and Economic Development, Matia Kasaija has lauded the Retirement Benefits Sector as key to Uganda’s economy because of the sector’s ability to mobilise …

Nairobi, Kenya | Xinhua | Kenyan regional bank, KCB Group, has completed the acquisition of Banque Populaire du Rwanda (BPR) from Atlas Mara Mauritius and Arise. Joshua Oigara, CEO of KCB, said the purchase follows the securing of the requisite regulatory approvals in Kenya, and Rwanda making the lender the majority …

Kampala, Uganda | AIRSPACE AFRICA | Following the successful addition of its pair of A330-800s to its Air Operator’s Certificate (AOC), Uganda Airlines is now embarking on marketing its new product across its network, according to a report by aviation website Airspace Africa. This week on the 27 and 29th of August, travelers …

Long serving board chairperson Elly Karuhanga retires in September Kampala, Uganda | ISAAC KHISA | dfcu Bank has cut dividend payout to its shareholders by 65.5% to Shs17.83 per share, equivalent to Shs 13bn for the year ended Dec.2020 to preserve more capital for any uncertainties that would occur owed …

Kampala, Uganda | THE INDEPENDENT | The impact of COVID-19 and its containment measures has shifted the landscape of how trade can be conducted, a survey of several Ugandan businesses shows. Interviews with several ICT and leaders in trade shows that businesses today are seizing every opportunity provided by digital technology …

Minister Kasaija promises more government support to boost private sector growth Kampala, Uganda | JULIUS BUSINGE | Nile Breweries Limited, a subsidiary of the Belgium based ABInBev, on Aug. 18 held a virtual Economic Forum to highlight the company’s contribution to  Uganda’s economy,  bringing to light the effect of the …

But government technocrats disagree saying there are objectives in doing so Kampala, Uganda | ISAAC KHISA | Investments in the extractive sector has become the next big thing in the East African region but there are concerns that the governments could extend huge tax incentives like they have  done in …

Kampala, Uganda | THE INDEPENDENT | Kampala City traders under the Kampala Arcades Advocacy forum have partnered with Mild May testing laboratory to carry out massive COVID-19 screening at a subsidized cost. This is meant to control the spread of COVID-19 among the business community. Suleiman Mpagi, the forum’s organizing …

Moroto, Uganda | THE INDEPENDENT | The Ministry of Energy and Mineral Development has procured two weighbridges for the Karamoja sub-region. The procurement of the weighbridges follows several calls from different stakeholders over the absence of proper measures to determine taxes from the minerals and also to help control the load …

Uganda imported gold from Tanzania worth $591 million , which is more than half of all imports from the country and five times more than all that Uganda exports there Kampala, Uganda | THE INDEPENDENT | Uganda and Kenya have lost their balance of trade surpluses to Tanzania over the …