Business

Kampala, Uganda | THE INDEPENDENT | Ugandans were charged high prices for goods and services in April compared to what they spent in March, a survey by Uganda Bureau of Statistics (UBOS) has said. UBOS’ Consumer Price Index (CPI) for April 2020, which measures what Ugandans pay for various goods …

Kampala, Uganda | THE INDEPENDENT | Tropical Bank Uganda has become under-capitalized after it posted the biggest loss in the banking sector this year. The bank which first opened in the country in 1973 as Libyan Arab Uganda Bank is now below the required minimum capital by 3.8 bn according …

Kisoro, Uganda |  THE INDEPENDENT |  Water consumers in Kisoro district are protesting hiked water fees by agents. Kisoro district is serviced by Chuho water plant, which supplies 2,200,000 liters of water each day. The plant supplies water to Nyakabande, Nyarusiza, Chahi, Nyakinama,Muramba Sub counties and Kisoro Municipality among others. The …

  COMMENT | Martin Sabiiti | According to the Uganda Association (UAERA) for External Recruitment Agencies there are over 140,000 Ugandans working in the Middle East. The number could even be higher when you factor in those who are trafficked and can’t be properly accounted for. The story of labour export has …

Kampala, Uganda | Julius Businge | Carrefour, operated by Majid Al Futtaim in Uganda, has joined forces with Africa’s leading e-commerce platform Jumia, through its subsidiary Jumia Food, to provide Carrefour customers with a secure and convenient way to have their orders delivered to their homes. The partnership comes as the …

Kampala, Uganda | THE INDEPENDENT | Absa Bank Uganda and Standard Chartered bank have announced a jump in profits for the year 2019, completing the set of the top five most profitable banks in the country. Stanbic, Centenary, Standard Chartered, Absa and Dfcu bank respectively make up the top five …

    Washington, United States | AFP | The decade of US economic expansion ended dramatically in the first quarter when GDP shrank 4.8 percent as the coronavirus hit, according to government data released Wednesday. It was the biggest decline in GDP in 12 years as the pandemic forced businesses to …

Kampala, Uganda |  THE INDEPENDENT |  Uganda coffee exports are yet to be affected by the coronavirus pandemic after March figures showed growth compared to a year ago. Uganda Coffee Development Authority (UCDA) said in a March 2020 report that Uganda coffee exports were 477,561 worth USD45.87M (Shs 171bn). This is higher …

Kampala, Uganda | THE INDEPENDENT | President Yoweri Museveni has issued a firm assurance to Ugandans that the economy and therefore their businesses will not be hit by the coronavirus pandemic. Evidently staying clear of the issue of stimulus to business, Museveni said while he understood businesses in tourism and …

Kampala, Uganda | THE INDEPENDENT | Uganda’s economy started feeling the hit from the coronavirus (COVID-19) as early as February before the lockdown, a report has revealed. According to the Ministry of Finance, March 2020 performance of the economy report states by start of February, external demand for the country’s …