Business

Kampala, Uganda | URN | Cabinet has approved the tabling of Landlords and Tenants Bill which seeks to, among other things, restrict payment of rent in shillings unless the tenant and landlord amicably agree on transaction in other currencies. State Minister for Housing, Dr. Chris Baryomunsi, says the bill will …

President Museveni challenges western companies as Uganda signs oil refinery pact Entebbe, Uganda | THE INDEPENDENT | Uganda took a firm step to building its first oil refinery when officials signed a Project Framework Agreement with the Albertine Graben Refinery Consortium (AGRC) in Entebbe on Tuesday. The agreement will ensure development, …

Luxembourg, Luxembourg | AFP | The EU’s top court on Tuesday backed the right of member states like France to ban a service by ridesharing firm Uber without notifying Brussels, in a fresh setback to the US giant. The European Court of Justice ruled in favour of France’s ban of …

Kampala, Uganda | THE INDEPENDENT | Government has asked Uganda Revenue Authority (URA) to drop a recent directive for banks to release to them account details of all their clients. Uganda’s cabinet decided on Monday that the URA move “would cause unnecessary litigation and some turbulence in the banking sector and …

UEGCL remains optimistic that official launch of the project is set for August Kampala, Uganda | JULIUS BUSINGE | On Monday, April 02, another step towards having a high-tech, well built 183MW Isimba hydro power plant was demonstrated by its main overseer– Uganda Electricity Generation Company Limited (UEGCL). The Dam …

  Kampala, Uganda | THE INDEPENDENT |  The Uganda Bankers Association (UBA) is challenging a directive to its members requiring them to furnish information related to all the accounts they hold. Uganda Revenue Authority (URA) last month wrote to all Ugandan banking institutions asking them to release demographic and financial …

Kampala, Uganda | JULIUS BUSINGE | With the first oil expected towards the end of 2020 in Uganda, players are already exploring more ways of reaping from the sector. The latest avenue was a two-day local content workshop organized by the Association of Uganda Oil and Gas Service Providers (AUGOS) in …

Stanbic records sharp drop in profits as DFCU’s NPL nearly doubles Kampala, Uganda | ISAAC KHISA | Uganda’s banking industry appears to be heading towards tougher times again, according to the industry executives.This is owed slow private sector credit growth, volatile trading security market and the declining interest rates amidst …

Kampala, Uganda | GODFREY SSALI | Government has taken a decision to prioritize local manufacturers of transformers in government procurement processes as one of the moves to promote Buy Uganda Build Uganda. This was agreed on during a meeting convened by the Ministry of Trade with local companies that manufacture transformers, …

Company managers say recent concession talk not threat to its future  Kampala,Uganda | JULIUS BUSINGE | Uganda’s power distributor, Umeme Limited, has recorded a surprise performance in the year ended December 2017, with the net profit dropping threefold to Shs 35bn compared with the previous year. The less than expected …