Business

Abuja, Nigeria | THE INDEPENDENT | African Export-Import Bank (Afreximbank) is set to host its 32nd Annual Meetings (AAM2025) in Abuja, Nigeria, from June 25 to 27, drawing a high-powered coalition of African, Caribbean (CARICOM), and global leaders. The event, which comes at a time of heightened geopolitical and economic uncertainty, …

KAMPALA, UGANDA | Xinhua | Uganda has overtaken Ethiopia to become Africa’s leading coffee exporter, according to a report released Tuesday. In a statement issued in the capital, Kampala, Uganda’s Ministry of Agriculture, Animal Industry and Fisheries said the country exported 793,445 60-kg bags of coffee in May, earning 243 …

                                                                           Kampala, Uganda | THE INDEPENDENT | Diamond Trust Bank (DTB) Chief Executive Officer, Geofrey Ssebaana, has urged players in Uganda’s construction sector to adopt stronger financial discipline, forge strategic partnerships, and integrate sustainability into their operations as key prerequisites for accessing financing from the country’s banking institutions. He emphasized …

Kampala, Uganda | THE INDEPENDENT | Ecobank Uganda has launched a new program called “Ellevate by Ecobank.” This program is specially made to help women who own or run businesses grow and succeed. “The main idea behind ‘Ellevate’ is ‘More than Money,’ an official said at the launch. “This means …

As Uganda’s development bank posts strong results, calls grow for sustainable government support to meet rising demand Kampala, Uganda | JULIUS BUSINGE | Uganda Development Bank (UDB), the country’s leading state-owned development finance institution, has reported a robust net profit of Shs 57.8 billion ($15.4 million) for the year ending 2024—an …

Kampala, Uganda | THE INDEPENDENT | Ecobank Uganda, has launched a new program called Ellevate by Ecobank. This program is specially made to help women who own or run businesses grow and succeed. The main idea behind “Ellevate” is “More than Money.” This means Ecobank wants to help women in …

Non-life insurance accounted for 55.95% of total premiums—slightly down from 58.14% the previous year Kampala, Uganda | JULIUS BUSINGE | Uganda’s insurance sector capped off 2024 with an impressive 10% growth in gross written premiums (GWP), rising from UShs 1.60 trillion in 2023 to UShs 1.76 trillion in 2024. This strong …

The downgrade has also attracted criticism from the African Peer Review Mechanism (APRM), an arrangement established in 2003 by African Union states to monitor governance performance ANALYSIS | JOHN BASQUILL | The African Export-Import Bank (Afreximbank) has joined a pan-African governance unit in criticising Fitch Ratings’ downgrade to the multilateral development …

Industry analysts say platforms like the FMCG Digital Suite are timely, especially with Africa projected to have over 500 million e-commerce users by 2025 Kampala, Uganda | THE INDEPENDENT | MTN Uganda’s mobile-based supply chain platform for Fast-Moving Consumer Goods (FMCG) companies has registered strong uptake, with more than 860 businesses …

Kampala, Uganda | THE INDEPENDENT | MTN Uganda plans to spin off its mobile money arm, MTN MoMo, into a separate entity, a move that could alter the structure of its business in one of its largest African markets. In a regulatory filing last week, the company said it “intends to …