Business

Fort Portal, Uganda | THE INDEPENDENT | Agriculturalists have called for efforts to preserve and grow traditional food crops. The call was made on Thursday during the Rwenzori Regional Indigenous Food and Seed Fair that was organized by Sustainable Agriculture Trainers Network (SATNET) that was held in Fort Portal. They …

Kigezi, Uganda | THE INDEPENDENT | Leaders in Kigezi sub-region have expressed doubt on the success of the Industrial park project.  The project was launched by President Museveni in April with an aim of eradicating poverty and unemployment among the youth and women.  Early this month, the government allocated 130 billion …

Kampala, Uganda | THE INDEPENDENT |  Uganda Manufacturers Association is eyeing 30 acres of former Naguru Housing Estate to expand its showground in Lugogo to accommodate the growing number of exhibitors entering the annual International Trade Fair.         Mubarak Kirunda Nkutu, the Director Membership Services at Uganda Manufacturers Association – UMA says …

Executives urge ‘sleeping giants’ to quickly enact competition law for job creation Kampala, Uganda | JULIUS BUSINGE | There are mega opportunities that mergers and acquisitions are creating within the Common Market for Eastern and Southern Africa (COMESA). Statistics from the Zambian-based COMESA Competition Commission (CCC) that oversees transactions in …

  ✳ Discontinue the fragmentation of districts (if possible, consolidate to reduce administrative costs). ✳ Government’s outsized role in the agriculture sector leaves little room for private sector participation. ✳ Technical inefficiencies pervade delivery of subsidized inputs, procured by the NAADS and distributed by the OWC to farmers. ✳ Rather …

  Paris, France | AFP | Facebook on Tuesday announced the expansion of its third-party fact-checking programme to 10 new African countries in partnership with Agence France-Presse and other media. The programme will be available in Ethiopia, Zambia, Somalia and Burkina Faso in partnership with AFP; in Uganda and Tanzania …

Abuja, Nigeria | AFP |  Nigerian President Muhammadu Buhari on Tuesday unveiled a record budget plan to lawmakers, ramping up ambitious spending goals for his second term in charge. The draft budget increased more than 13 percent from last year at 10.33 trillion naira — around $33.8 billion (30.8 billion …

Seoul, South Korea | AFP | Samsung Electronics said on Tuesday it expected operating profits to drop more than 50 percent in the third quarter as it struggles with a long-running slump in the global chip market. Operating profit for July to September was forecast to reach 7.7 trillion won ($6.4 …

Growing middle class, economy attracts investments in the hotel industry Kampala, Uganda | ISAAC KHISA | Nearly six years ago, 18 countries in Africa did not have any global branded hotel as prospective owners and operators did not see business opportunities.  But this has now reduced to only five countries …

  Kampala, Uganda | THE INDEPENDENT | Bank of Uganda has cut interest rates, a move expected to boost businesses’ borrowing and consequently lift growth. BoU Governor, Emmanuel Tumusiime-Mutebile announced on Monday that he was cutting the Central Bank Rate (CBR), which signals the direction of interest rates, from 10% …