Business

But it must promote exports, manage debt and collect more tax Kampala, Uganda | JULIUS BUSINGE | The 2019 Absa Africa Financial Market Index Report for Uganda released on Jan.28 in Kampala has some good news. The index, which evaluates financial market development in 20 countries, shows that Uganda remains …

Dubai, United Arab Emirates | AFP | The coronavirus crisis, which has already battered oil prices, threatens to further undercut Gulf economies battling a downturn and struggling to wean themselves from a decades-old energy addiction. The six Gulf states — Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and United Arab Emirates …

Kampala, Uganda  | THE INDEPENDENT |  Parliament has granted leave to Workers MP Margaret Rwabushaija to introduce the establishment and management of markets bill, 2019 that will allow individuals to own and set up markets. Rwabushaija says the current Markets Act places the vital question of ownership of land and …

Kampala, Uganda | THE INDEPENDENT | The Minister of State for Energy, Eng. Simon D’Ujanga says that government will consider conducting the feasibility study on Uhuru Hydro-power project. D’Ujanga made the statement on Tuesday when he appeared before the Natural Resources committee that is currently inquiring into the construction of …

The government needs to invest in tourism and fishing activities near the dam Kampala, Uganda | ISAAC KHISA | Returning to Kayunga District after nearly a decade of absence, one could easily be astonished with the rapid transformations. The once dusty and potholed roads as well as the run-down structures …

Kampala, Uganda | THE INDEPENDENT | Parliament on Tuesday afternoon voted to approve a government request to borrow sh2.43 trillion to finance a budget shortfall realized a few months into the current financial year 2019/2020. This followed a heated debate on the report by Parliament’s National Economy Committee that recommended …

Kampala, Uganda | THE INDEPENDENT | Uganda’s public debt has grown to Uganda shillings 46 trillion (USD12.5bn) as at the end of June 2019 up from Shs 39 trillion (USD10.7bn) in June 2018, according to the latest Ministry of Finance report. This raises the share public debt from 34.8% of …

Kampala, Uganda | THE INDEPENDENT | URA boss Doris Akol says fewer rich people using mobile money has cost her tax revenue Uganda Revenue Authority has decried the shift of high value Ugandans from using mobile money services to agency banking, which has cost the country tax revenue. Doris Akol, …

Kampala, Uganda | THE INDEPENDENT | There was panic and fear in Kikulu zone in Kikaya-Kisasi in Kawempe North on Saturday night following multiple explosions of gas cylinders. Locals told Uganda Radio Network (URN) that they heard a loud bang followed by ablaze that engulfed the entire structure that housed the …

Kampala, Uganda  | THE INDEPENDENT | The Speaker of Parliament Rebecca Kadaga has revealed that she is frustrated by the Ministry of Finance for failing to finance the Tree Fund enacted under the National Forestry and Tree Planting Act, 2003. Kadaga says that it is sickening that 16 years after …