Business

Kampala, Uganda |  THE INDEPENDENT |  Savers with the National Social Security Fund will get an additional 10.75 percent of the value of their total savings held as at July 2020 in form of annual interest. This follows the surprise declaration of the interest rate for the year by the Minister …

Jinja, Uganda |  THE INDEPENDENT |  The fire which gutted vitafoam mattress factory in Njeru Municipality Buikwe district on Monday morning ruined the main mattress production departments at the plant. Although police and the factory management have not yet ascertained the cost of damages caused by the fire, a store with …

Amuru, Uganda |  THE INDEPENDENT | The National Agricultural Advisory services- NAADs has embarked on a two-weeks verification of the Atiak Sugar Project beneficiaries’ exercise. The exercise targeting about 2,500 farmers from Amuru, Lamwo, Gulu and Adjumani districts under Gem Pacilo cooperative Society started today and is expected to end by …

✳ Year – Interest 2012 ✅10.00% 2013 ✅11.23% 2014 ✅11.50% 2015 ✅13.00% 2016 ✅12.30% 2017 ✅11.23% 2018 ✅ 15% 2019 ✅ 11% 2020 ✅ 10.75% Members to earn Sh1.14 trillion on their accounts  Kampala, Uganda | THE INDEPENDENT | The National Social Security Fund (NSSF) has today declared an unexpected double …

  Kampala, Uganda | Isaac Khisa | Uganda’s mobile money transactions grew by 19.3% to Shs 79.8 trillion for the year ending June.30, according to Michael Atingi-Ego, deputy governor, Bank of Uganda. Atingi, who was speaking during the Uganda Bankers Association retreat at the Kampala Sheraton Hotel on Sept.22, said out …

    Kampala, Uganda | THE INDEPENDENT |  Experts believe that the ongoing impact of COVID-19 on the economy will result in scarcity of legitimate products, which in turn will lead to an increase in proliferation of fake products on the market, as companies cut costs for survival and competitiveness. The …

A startup in East Africa has created a digital service that appeals to thousands of small shopkeepers across the region, while finding innovative ways to lend to the traditionally risky sector. African Business Magazine’s Tom Collins reports. While most of Africa’s well-known ventures into e-commerce have been designed to appeal to the …

But there was an increase in expenses on input and wholesale services, salaries and taxes Kampala, Uganda | ISAAC KHISA | Uganda’s telecom sector has posted the highest total quarterly revenues on record, crossing the Shs1 trillion mark amidst the ravaging coronavirus pandemic, according to the latest Uganda Communications Commission …

Oil and gas explorer says ‘potential liquidity shortfall’ threatens ability to pass lenders’ test | THE INDEPENDENT | Tullow Oil plc has warned it risks defaulting on a debt facility if it does not resolve a potential liquidity shortfall, as it slumped to a $1.4 billion pre-tax loss for the …

Kampala, Uganda | THE INDEPENDENT | Uganda has lost the trade deficit it had recorded against the European Union in July as imports of merchandises grew faster than the exports to the same region. Both exports and imports dropped sharply in April 2020, the first month of the lockdown that …