Thursday , November 14 2024

Business

Business news

Nile perch stocks in lake Victoria increase by 31 percent

Soroti, Uganda |  THE INDEPENDENT |  Nile Perch stocks in Lake Victoria have increased by 31 percent, according to Dr. Edward Rukunya, the Director Fisheries Resources in the Ministry of Agriculture, Animal Industry and Fisheries- MAAIF. This comes after close to three years since Uganda People’s Defense Force- UPDF commenced operations …

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NGOs inflows and exports help Uganda Shilling stay strong

Kampala, Uganda | THE INDEPENDENT | The Uganda shilling has appreciated by at least 5.2% against the dollar since March, thanks partly to money coming into non-governmental organizations and low demand for dollars by importers. According to the quoting this month by forex bureaus, the shilling has gained as much …

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Minister Katumba Wamala commissions new Buvuma ferry

Buvuma, Uganda |  THE INDEPENDENT |  Residents of Buvuma district could not hide their joy as the government commissioned a new ferry on Friday. The ferry is expected to make transport easier to residents and the business community who are mainly farmers and produce traders.  Gen. Katumba Wamala, the Minister for Works …

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Court declares tax appeal deposits unconstitutional

Kampala, Uganda | THE INDEPENDENT | Taxpayers disputing assessments by Uganda Revenue Authority will no longer be required to deposit 30 percent of the amount in dispute before launching a challenge at the Tax Appeals Tribunal (TAT). Section 15 of the Tax Appeals Tribunal Act requires a company or any taxpayer …

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Orient Bank sale will ensure growth – Management

Kampala, Uganda | THE INDEPENDENT | Orient Bank management has said they agreed to sell majority shares of the bank to a Kenyan company which will facilitate its growth into a leading player in Uganda’s banking sector. On Monday, it emerged that I&M Holdings Limited, the owners of I&M Bank Kenya, …

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Over 58 arcades to remain closed- Minister Kyambadde

Kampala, Uganda |  THE INDEPENDENT |  Over 58 arcades will remain closed indefinitely for failure to cooperate with the Covid-19 Inspection Task force that was instituted by President, Yoweri Museveni to assess their compliance with the Standing Operating Procedures-SOPs. Addressing journalists at the government owned media center on Wednesday, the Trade, …

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