Business

Lending to be directed to sectors crucial to socio-economic development including SMEs, trade, industry and agri-business Kampala, Uganda | JULIUS BUSINGE | Interest rates have risen over the past two quarters this year but commercial bank executives say current levels are still fair to both lenders and borrowers. The latest …

Buvuma, Uganda |  THE INDEPENDENT |  More than 20 residents in Buvuma have raised concerns after the National Oil Palm Project- NOPP started clearing their land without compensation. The residents are seeking government intervention to ensure that they are paid before the project starts.  Although NOPP plans to secure 6, 500 hectares …

  Ugandan micro, small and medium enterprises working within the petroleum sector have received US$ 500,000 (Shs 1.85bn) from the African Development Bank to boost their chances of partaking of the opportunities that will accrue during the construction of the East African Crude Oil Pipeline (EACOP) project. Kampala, Uganda | …

Kampala, Uganda |  THE INDEPENDENT |  More than one-third of the districts in Uganda did not have a compliant taxpayer last year, according to the latest list of compliant taxpayers issued by the Uganda Revenue Authority.   The list has 86 districts chosen from the 125 districts which were in existence five …

    Nairobi, Kenya | THE INDEPENDENT | Equity Group has reported giving out 30% more loans than the previous year, as it supports companies seeking new opportunities as they recover from the COVID-19 lockdown. This has been possible as customer deposits grew from Kshs478 billion ($4 billion) to Kshs 691 billion ($6.3billion), …

Firms want to cut into huge value of contracts which go to foreign firms Kampala, Uganda | ISAAC KHISA | Ugandan local firms have been losing out to international players in clinching big deals in the local market but this could soon be reversed if a new business model that …

Amuru, Uganda |  THE INDEPENDENT |  Over 10,000 Sugarcane growers in Amuru and Lamwo Districts have suspended planting of cane seedlings following persistent and excessive rains. The seedlings were supposed to be planted by the farmers between April through to October. However, since June to date, unprecedented rainfalls have caused overwhelming floods …

On Nov.10, Tullow Oil plc announced the completion of the sale of its assets in Uganda to French super major, Total. The US$ 575 million (Shs 2.15trillion) deal finally brought Tullow Oil’s 16-year involvement in Uganda’s oil project to an end. Kampala, Uganda | RONALD MUSOKE | When Tullow entered …

Kampala, Uganda |  THE INDEPENDENT | Arcades and shopping malls in the Kampala Central Business have abandoned the Standard Operating Procedures- SOPs put in place by the government to stop the spread of the COVID-19 pandemic.  In July, while reopening arcades and shopping malls following three months of closure, president, Yoweri …

Kampala, Uganda |  THE INDEPENDENT |  There are mixed reactions over the proposal by Kampala Capital City Authority -KCCA to take over the management of 16 city markets. The markets were placed under the management of vendors following president, Yoweri Kaguta Museveni’s directive in 2006 while others were leased to the …