Business

Arua, Uganda |  THE INDEPENDENT  Transport is paralyzed between Arua City and the Democratic Republic of Congo- DRC following the breakdown of the major bridge connecting the two areas.  Pajulu bridge, which crosses River Enyau caved in because of heavy rains and flooding.    The temporary bridge is believed to have …

The lender recorded a 4.9% drop in net profit to Shs127.4billion Kampala, Uganda | ISAAC KHISA | Stanbic Bank has suffered a 4.9% drop in pre-tax profit in the first half of the year as credit impairment charge and coronavirus disruption takes toll on the country’s largest commercial lender. The …

Can world’s biggest trade bloc wean Africa off expensive aid? Kampala, Uganda | RONALD MUSOKE | On Aug.17, Nana Akufo-Addo, the Ghanaian president, launched the Permanent Secretariat of the African Continental Free Trade Area (AfCFTA) four months ahead of the day African countries are expected to start trading in goods …

Plan will support government’s development targets relating to electricity distribution countrywide Kampala, Uganda | JULIUS BUSINGE | Uganda Electricity Distribution Company Limited is seeking US$3.1million (approx. Shs11billion) to start construction of its mega pole production plant in Wakiso District. Paul Mwesigwa, the managing director for UEDCL said on Aug.17 that …

Otuke, Uganda |  THE INDEPENDENT Hailstorm has left a trail of destruction in Ogwete and Olilim Sub counties in Otuke district. The hailstorm followed heavy rains that pounded the two sub counties over the weekend raving the entire Iooro Village in Olilim Sub County and Akadodek, Imatoigwokoto, Apengere, Tedam, Olilim and …

Company executives are optimistic the remaining half will see a surge in power sales, profitability as government relaxes COVID-19 lockdown Kampala, Uganda | ISAAC KHISA | Uganda’s electricity distributor, Umeme, is now pinning its profit growth on the remaining six months of the reporting year following government’s move to ease …

Kampala, Uganda | THE INDEPENDENT | Drugs maker Cipla Quality Chemicals Limited (CiplaQCi) has announced that it has paid 4.7 billion Shillings to acquire what they described as the Human Care Business assets of Quality Chemicals Limited. According to Nevin Bradford, the executive director of Cipla Quality Chemicals Limited, the …

Kampala, Uganda | THE INDEPENDENT | At least 21 staff at the Ministry of Finance and six from Uganda National Roads Authority (UNRA) have tested positive for the Coronavirus (COVID-19) as the cases grow among different private and public agencies. Finance staff under-went mandatory COVID-19 test on August 19. Test results, …

Mbarara, Uganda | THE INDEPENDENT | Gunfire rocked Mbarara City on Sunday afternoon as employees of Barya Stint Hardware rose up in protest against the attachment of Barya Building along Akiiki Nyabongo Road by Orient bank. Led by the sons of Apollo Muhumuza Barya, the Proprietor Barya Building, the employees …

Kampala, Uganda | THE INDEPENDENT |  Uganda Tourism Board (UTB) and Uganda Communications Commission (UCC) have signed a Memorandum of Understanding to jointly promote “Destination Uganda” as a premier film and tourist destination. The MoU enjoins the two parties to collaborate and jointly market Destination Uganda, and to improve Uganda’s brand …