Business

Kampala, Uganda |  THE INDEPENDENT | MTN Uganda’s sale of shares left over from its 2021 Initial Public Offering was oversubscribed by almost 100%, the telecom executives said on June 13. The company received applications for 3 billion shares against 1.6 billion shares on offer, The shares sold represent 7.03% of …

Experts share mixed views relating to fiscal discipline, tax, growing debt COVER STORY | JULIUS BUSINGE | As Finance Minister Matia Kasaija ascended the podium at Kololo Independence Grounds on June 13 to unveil the FY2024/2025 National Budget, the air was thick with anticipation. The nation waited with bated breath, eager …

Kampala, Uganda | THE INDEPENDENT | Ahead of the International Day of Family Remittances on Sunday, the UN’s International Fund for Agriculture Development (IFAD) has launched a new program to ensure easier transmission of money from other countries into Uganda. In a partnership with FlexiPay, a digital payment platform of Stanbic …

Kampala, Uganda | THE INDEPENDENT | The Finance Ministry Permanent Secretary and Secretary to Treasury Ramathan Ggoobi has outlined budget opportunities in the UGX 72Trillion Budget for the Financial Year 2024/25, urging private sector players to take advantage of them. This, he said while delivering a keynote speech during the …

An Indian port operator’s investment in Tanzania’s Dar es Salaam port is the latest evidence of growing competition among global investors for a foothold in Africa’s port sector, highlighting Africa’s emergence as a player in global trade. SPECIAL REPORT | BIRD AGENCY | Indian multinational port operator Adani announced early …

Kampala, Uganda | THE INDEPENDENT |  The Minister of Finance, Planning and Economic Development, Matia Kasaija says the government will strive to achieve double-digit economic growth. Economic growth refers to an increase in the aggregated production and market value of economic commodities and services in an economy over a specific …

Kampala, Uganda | THE INDEPENDENT | When petroleum resources were discovered in Uganda in 2006, a rift emerged between the government and civil society. It was inconceivable that the government, civil society, and oil companies would meet in one room to discuss how to manage the resource. The situation has “greatly’ …

Excise duty ✅ Increase excise duty on petrol by Shs 100 per litre. ✅ Increase excise duty on diesel by Shs 100 per litre. ✅ Increase excise duty on imported wines from 80 percent or Shs 8,000 per litre to 100 percent or Shs 10,000 whichever is higher Winners ✅ …

✅FY 2024/25 is the 5th & final implementation year of NDP3. NDP4 will implement the first 5 years of the strategy for growing the economy 10-fold. ✅The economy sustained recovery from the effects of COVID-19,growing at about 6% in FY 2023/24,compared to 5.3% in FY 2022/23 & 4.6% in FY …

COMMENT |  ICRA RATING | As the global focus on sustainability and corporate responsibility continues to grow, banking institutions must adapt to meet the evolving expectations of customers, investors, and regulators. In today’s rapidly changing business landscape by embracing ESG principles, banks can mitigate risks associated with environmental, social, and …