Business

ADDIS ABABA, ETHIOPIA | Xinhua | Africa Day, observed on May 25, is a day symbolizing the African struggle for independence and unity. It commemorates the establishment of the Organization of African Unity (OAU) in 1963, now the African Union (AU), which heralded a new era of collective strength and …

120 targeted specialist graduates were employed within a year of graduating and 100 sustainable digital businesses have been created ANALYSIS | AGENCIES | On May 21, the African Development Bank Group’s Board of Directors approved the mid-term review of the Country Strategy Paper (CSP) for Rwanda (2022-2026) in Abidjan, Ivory Coast. …

MBALE, Uganda | Xinhua | As dawn breaks, Hellen Mugala, 27, joins hundreds of her colleagues on their way to work at the Sino-Uganda Mbale Industrial Park, located in the eastern Ugandan district of Mbale. “This industrial park has helped many local people. I have acquired skills and earned a …

African countries would be far better advised to focus on ways to fix the attractiveness of their own domestic economies, including tax systems, than to wait for the world to develop a new taxation system. ANALYSIS | MUKHISA KITUYI & DANIEL A. WITT | A piece in the Financial Times published …

  Kampala, Uganda | THE INDEPENDENT | MTN Uganda Chairman Charles Mbiire has advised banks to invest more time in ensuring they collaborate with telecom companies to meet their growth targets. Mbiire was speaking as a chief guest at a dinner for NCBA Bank customers held in Kampala. He said …

Kampala, Uganda | THE INDEPENDENT | The Uganda Revenue Authority (URA) and Uganda Manufacturers Association (UMA) have started sensitizing manufacturers about the Electronic Fiscal Receipting and Invoicing Solution system (EFRIS). The drive comes at a time when the digital tax administration measure that interfaces the taxpayers’ daily transactional operations with …

This system allows stakeholders real-time access to critical information, enabling them to make informed decisions about transactions and creditworthiness Kampala, Uganda | JULIUS BUSINGE | Uganda’s Savings and Credit Cooperative Societies (SACCOs) are grappling with a rising default rate, currently at 10%, which surpasses the industry cap of 5%. However, this …

Nairobi, Kenya | THE INDEPEDEPENDENT | Uganda Development Bank, is named the best bank in East Africa at the 18th edition of the Annual African Banker Awards. The country’s national Development Finance Institution, was on Tuesday named the Regional Bank of the Year – East Africa at the Annual African Banker …

Kampala, Uganda | THE INDEPENDENT | Ugandans hoping to live under their roof have a new opportunity to do so with 100% financing from Stanbic Bank, courtesy of a new lending campaign dubbed “Oli Sorted” launched May 23. The 90-day campaign which targets the back-to-school season also enabled parents to borrow …

Kampala, Uganda | THE INDEPENDENT | The Uganda National Oil Company (UNOC) has generated a profit of Shs37.6 billion surpassing their projected revenue of Shs6.989 billion. This revelation emerged during a meeting between officials from UNOC and Members of the Public Accounts Committee (PAC) on Monday, 27 May 2024 where the …