Kampala, Uganda | JULIUS BUSINGE | The National Social Security Fund (NSSF) is seeking to recover over Shs160 billion following the announcement of a grace period of three months for all employers that have not remitted employees’ social security contributions to agree a payment plan. In exchange, the Fund will …
Read More »ICPAU moves to advance accountancy
The state of accounting in Uganda is set to improve following initiatives that are being pushed by the Institute of Certified Public Accountants of Uganda (ICPAU) – all targeting practitioners. Kampala, Uganda | The Independent | Speaking at the 9th Practioners Forum held in Kampala at the end of last …
Read More »The giant Chinese companies shaping the world’s industries
Paris, France | AFP | It was fear of being dominated by a Chinese behemoth that sparked an attempt by large French and German rail companies to join forces to create an European industrial champion. The merger by Alstom and Siemens was vetoed by the EU on Thursday, but concerns about …
Read More »Twitter hammered as user losses overshadow improving finances
Washington, United States | AFP | Twitter shares took a pounding Thursday as an unsettling update on its global user base offset upbeat figures on revenues and profits in the past quarter. Shares skidded 9.8 percent to close at $30.80 following Twitter’s fourth quarter update, which showed a consistent profit trend …
Read More »Former Crane Bank board chair accuses BOU of frustrating investors
Kampala, Uganda | THE INDEPENDENT | The former Crane Bank Chairman of Board of Directors, Joseph Biribonwa, has accused the Central Bank for frustrating investors. Biribonwa on Wednesday appeared with the former Crane Bank owner Sudhir Ruparelia before Parliament’s Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) that …
Read More »I was coerced to buy National Bank of Commerce – Sudhir
Kampala, Uganda | THE INDEPENDENT | Businessman Sudhir Ruparelia says he was forced to acquire National Bank of Commerce (NBC), days after it was closed by the Bank of Uganda. Crane Bank Limited, according to Sudhir, paid sh1.12 billion as consideration of the agreement to take over NBC. The National …
Read More »‘Future of printing and publishing in Uganda bright’
Following liberalisation of Uganda’s economy in the 1990’s, private sectors alongside the public enterprises and publishers have increased investments in printing infrastructure, and the business is now on the upward trend. The Independent’sIsaac Khisa spoke to the Irene Muwanguzi, the Managing Director at the Uganda Printing and Publishing Corporation …
Read More »SUDHIR: Crane Bank sale was fraudulent
Kampala, Uganda | THE INDEPENDENT | The agreement for the sale of Crane bank to DFCU was shoddy and fraudulent, Former Crane Bank owner, Sudhir Ruparelia has told the ongoing Bank of Uganda probe. According to Sudhir, the Purchase of Assets and Liabilities (P&A) agreement signed between BoU and DFCU …
Read More »Toyota HiLux Rogue Vs Toyota HiLux Rugged
Which HiLux variant is a better buy; the cheaper more off-road biased Rugged or the town-oriented Rogue? Kampala, Uganda | AGENCIES | On the surface, it might appear as if these two vehicles are aimed at different buyers. At least that’s what Toyota would like for you to think but …
Read More »Fish maw business now to be regulated
Tough regulation for fish in offing Kampala, Uganda | PATRICIA AKANKWASA | Fish maw business will soon be regulated to minimize exploitation of fish farmers and suppliers. Vincent Sempijja, the agriculture minister told The Independent in an interview that the sale of fish maw has become a lucrative business for …
Read More »