Business

As COVID-19 lockdown measures hit agriculture, construction and industry Kampala, Uganda | JULIUS BUSINGE | For the first time since February, the headline Stanbic Bank Purchasing Managers’ Index (PMI) crossed into positive territory recording a reading of 50.3 during July, up from 46.5 in June. This is a significant recovery …

Market executives anticipate good performance as COVID-19 threat is minimized Kampala, Uganda | JULIUS BUSINGE | Trading in the second quarter of 2020 at the Uganda Securities Exchange registered a tremendous decline as  Uganda’s  equity  markets  continued  to  feel  the  impact  of  COVID-19  pandemic, according to the quarterly bulletin for …

Johannesburg, South Africa | XINHUA | The African Union Development Agency (AUDA-NEPAD) on Tuesday launched a program to help Africa’s Micro, Small and Medium Enterprises (MSMEs) to adapt business operations in the era of the COVID-19 pandemic. AUDA-NEPAD, in partnership with Ecobank Group, launched the MSME Academy which will give …

Kampala, Uganda | THE INDEPENDENT | Dozens of small businesses around educational institutions have been hit by the lockdown because of the absence of students who form the bulk of their customer base. The government ordered all learning institutions to close on March 20, 2020, as part of the measures …

Gulu, Uganda |  THE INDEPENDENT | The Acholi Paramount Chief Rwot David Onen Acana II has decried inadequate funding which is hindering operations of the Chiefdom. Some building projects of the institution at its headquarters in West Division of Gulu City are on a standstill.  The chiefdom’s programs to conduct sensitization …

Gulu, Uganda |  THE INDEPENDENT | Authorities in Gulu have said they are struggling to attract commercial flights at Gulu airport due to negative perceptions about the facility by the business community. Located, about three kilometres north-west of the Central Business District of Gulu, the largest metropolitan area in Acholi sub-region, …

Uganda is yet to approve the multi-trillion shilling deal involving Total E&P and Tullow Oil since the two firms announced their planned transaction, three months ago. Kampala, Uganda | RONALD MUSOKE | In a statement delivered via a webinar during the national content supplier workshop on Aug.5, Total E&P Uganda …

Kampala, Uganda |  THE INDEPENDENT | Hostel proprietors around Kyambogo University have started calling up students to pick up their property, saying they can no longer keep it. A number of students left their property in the privately owned hostels when government announced the closure of all learning institutions in the …

Gulu, Uganda |  THE INDEPENDENT | A total of 120,000 families in Uganda whose livelihoods have been negatively affected by Coronavirus Disease (COVID-19) pandemic will benefit from USD 10 million, approximately 36 billion Shillings’ direct cash transfers. The programme, implemented by GiveDirectly, a nonprofit organization that lets donors send money to …

Kampala, Uganda |  THE INDEPENDENT | Ugandans are expected to hold onto their money for longer compared to pre-coronavirus days as many suspend spending due to insecurity of what the future holds, Bank of Uganda has said. BOU Governor Emmanuel Tumusiime-Mutebile said on Monday that many consumers are expected to be …