Business

But there was an increase in expenses on input and wholesale services, salaries and taxes Kampala, Uganda | ISAAC KHISA | Uganda’s telecom sector has posted the highest total quarterly revenues on record, crossing the Shs1 trillion mark amidst the ravaging coronavirus pandemic, according to the latest Uganda Communications Commission …

Oil and gas explorer says ‘potential liquidity shortfall’ threatens ability to pass lenders’ test | THE INDEPENDENT | Tullow Oil plc has warned it risks defaulting on a debt facility if it does not resolve a potential liquidity shortfall, as it slumped to a $1.4 billion pre-tax loss for the …

Kampala, Uganda | THE INDEPENDENT | Uganda has lost the trade deficit it had recorded against the European Union in July as imports of merchandises grew faster than the exports to the same region. Both exports and imports dropped sharply in April 2020, the first month of the lockdown that …

    Entebbe, Uganda | THE INDEPENDENT | The Uganda Free Zone Authority (UFZA) has today handed over a five acre piece of land to National Enterprise Corporation (NEC), the commercial arm of the Uganda People’s Defence Force (UPDF), to embark on the initial phase of construction of a first …

The lender will now focus on technology usage, human resource capabilities and credit earnings from agriculture, manufacturing sectors to drive growth Kampala, Uganda | JULIUS BUSINGE | Bank of Baroda Uganda Limited, a subsidiary of Bank of Baroda, India is focusing on investing in technology to offer efficient and timely …

Majority of the respondents do not anticipate demand for their products to increase until after 2021 Kampala, Uganda | JULIUS BUSINGE | Several businesses are cancelling planned investments as a measure to survive the negative economic impact caused by COVID-19 pandemic, according to a new report published by the Institute …

    Gulu, Uganda | THE INDEPENDENT | Government through National Water and Sewerage Corporation (NWSC) has started construction of a Gulu Water Supply and Sanitation project to serve over 341,000 people in Gulu, Karuma, Kamdini, Minakulu, Bobi, Palenga, Koro- Abili and the surrounding areas. The new project will draw water …

URA’s legal win means benefits will be subjected to PAYE Kampala, Uganda | JULIUS BUSINGE | It is now official that workers who will be paid benefits as a result of retrenchment will be subjected to Pay as You Earn tax – which is 30% of the total earnings. This …

Kampala, Uganda | THE INDEPENDENT | The financial sector recorded a big jump in electronic transactions over the last year boosted by the lockdown that was induced by the COVID-19 pandemic, according to sector players. The economy was largely shutdown in March with the government banning most activities like public …

Uganda airlines ready to resume regional flights Kampala, Uganda | THE INDEPENDENT |  Nine airlines are all set to resume business as soon as Uganda’s main airport at Entebbe resumes. These are Uganda Airlines, KLM, Turkish Airlines, Emirates, Brussels Airlines, Qatar Airways, Kenya Airways, Air Tanzania and Ethiopian Airlines. The Uganda …