Business

Kampala, Uganda | THE INDEPENDENT | The Minister of State for Energy, Eng. Simon D’Ujanga says that government will consider conducting the feasibility study on Uhuru Hydro-power project. D’Ujanga made the statement on Tuesday when he appeared before the Natural Resources committee that is currently inquiring into the construction of …

The government needs to invest in tourism and fishing activities near the dam Kampala, Uganda | ISAAC KHISA | Returning to Kayunga District after nearly a decade of absence, one could easily be astonished with the rapid transformations. The once dusty and potholed roads as well as the run-down structures …

Kampala, Uganda | THE INDEPENDENT | Parliament on Tuesday afternoon voted to approve a government request to borrow sh2.43 trillion to finance a budget shortfall realized a few months into the current financial year 2019/2020. This followed a heated debate on the report by Parliament’s National Economy Committee that recommended …

Kampala, Uganda | THE INDEPENDENT | Uganda’s public debt has grown to Uganda shillings 46 trillion (USD12.5bn) as at the end of June 2019 up from Shs 39 trillion (USD10.7bn) in June 2018, according to the latest Ministry of Finance report. This raises the share public debt from 34.8% of …

Kampala, Uganda | THE INDEPENDENT | URA boss Doris Akol says fewer rich people using mobile money has cost her tax revenue Uganda Revenue Authority has decried the shift of high value Ugandans from using mobile money services to agency banking, which has cost the country tax revenue. Doris Akol, …

Kampala, Uganda | THE INDEPENDENT | There was panic and fear in Kikulu zone in Kikaya-Kisasi in Kawempe North on Saturday night following multiple explosions of gas cylinders. Locals told Uganda Radio Network (URN) that they heard a loud bang followed by ablaze that engulfed the entire structure that housed the …

Kampala, Uganda  | THE INDEPENDENT | The Speaker of Parliament Rebecca Kadaga has revealed that she is frustrated by the Ministry of Finance for failing to finance the Tree Fund enacted under the National Forestry and Tree Planting Act, 2003. Kadaga says that it is sickening that 16 years after …

  Kampala, Uganda  | THE INDEPENDENT | The African Export-Import Bank (Afreximbank) has announced a roadshow in Kigali to show the Rwandan private sector how it can become a primary beneficiary of the African Continental Free Trade Area (AfCFTA) which will provide significant opportunities to access the largely untapped markets and …

Nimule, Uganda  | THE INDEPENDENT |  The One-Stop Border Post (OSBP) at Nimule international cross border town has been opened to boost efficient trade between Uganda and South Sudan. The US$ 5 million, approximately 18.3 million Uganda Shillings’ facility was on Thursday handed over to the Government of South Sudan by …

Kampala, Uganda  | THE INDEPENDENT |  Uganda is set to lose more than 500 billion  Shillings in tax waivers during the 2019/2020 financial year alone, the Uganda Revenue Authority has indicated. A tax waiver is when a company or an individual engaged in a certain activity where they are supposed to …