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Bad start for Uganda’s stock market

Executives hope that the future is bright as listed entities post profits Kampala, Uganda | JULIUS BUSINGE | Companies trading on the Uganda Securities Exchange have opened the New Year with poor performance. Umeme, Quality Chemical Industries Limited (CQCIL) shares have fallen below the Initial Public Offering (IPO) price. This …

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UK leaves European Union after 47 years

Kampala, Uganda  | THE INDEPENDENT |  The United Kingdom officially leaves the European Union, a political and economic bloc bringing together 28 member states in Europe. The UK has been a Member of the European Union for 47 years. The decision to quit EU followed a referendum, commonly referred to as …

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Chinese firm applies for construction of 840MW Ayago dam

Kampala, Uganda  | THE INDEPENDENT |  A Chinese company Power China International Group Limited has submitted an application to construct the 840 Mega Watts Ayago hydropower plant on River Nile.   According to the Uganda Gazette this week, the company seeks a license for generation and sale of electricity from Ayago dam …

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MTN announces $1.6bn Nigeria investment

Abuja, Nigeria | AFP |  South African mobile giant MTN has said it will make investments worth $1.6 billion (1.45 billion euros) in Nigeria as it seeks to put a series of legal wrangles to bed. The telecommunications firm said late Wednesday that its top executives made the announcement during …

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Parliament approves 3rd National Development Plan

Key development strategies of NDPlll ▪Agro-industrialization ▪Fasttrack Oil, Gas, Mineral based industrialisation ▪Export promotion ▪Promotion of local manufacturing ▪Harness tourism potential ▪Increase local content participation ▪Increase access to Energy ▪Enhance skills and vocational development ▪Increase access to social protection ▪Promote development-oriented mindset ▪Increase resource mobilization ▪Re-engineer public service to promote …

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