Business

COMMENT  | YUSUF MASABA | The second National Development Plan II, the government’s policy blueprint, an offshoot of the Vision 2040 to transform Uganda into a Middle Incomes class economy, now in its fourth series initially conceptualized establishment of four regional cities, namely, Gulu, Mbale, Mbarara and Arua. The blueprint also …

Industry leaders at the Climate Finance Conference call for robust policies, enhanced capacity, and innovative products to embed sustainability in Uganda’s financial system Kampala, Uganda | JULIUS BUSINGE | Financial experts have called on banks and financial institutions to strengthen their commitment to green financing by implementing clear policies, enhancing human …

Kampala, Uganda | THE INDEPENDENT | A new partnership between SHONA Capital and Cornerstone Asset Managers is injecting $500,000 (USh1.84bn) into Uganda’s small and medium-sized enterprises, a move that underscores growing momentum to domesticate financing for the country’s backbone businesses. The investment, sourced from high-net-worth individuals through Cornerstone’s Private Wealth Management …

KAMPALA, UGANDA | THE INDEPENDENT | Vivo Energy Uganda recently hosted its third annual Shell Select Suppliers Conference, underscoring the vital role of its suppliers in the continued success and growth of the Shell Select and Shop network. The event focused on celebrating past achievements since the Covid-19 pandemic and …

KAMPALA, UGANDA | THE INDEPENDENT | In a bold move to address the growing water and sanitation crisis in Ugandan schools, Housing Finance Bank (HFB) has rolled out a targeted intervention to boost access to clean water and hygiene infrastructure. The Bank has unveiled its Water and Sanitation product, a …

Kampala, Uganda | THE INDEPENDENT | Despite a heavy morning downpour, The Alchemist Drunch by Ciroc first edition exceeded expectations, giving attendees a perfect treat. The first 50 ladies received a thoughtful gesture – a free flower bouquet from Nineteen Twenty One Lifestyle, a bespoke floral design and delivery service …

This growth has translated into significant improvements in the labor market, with the creation of over half a million new jobs year-on-year Rwanda | THE INDEPENDENT | Rwanda’s real Gross Domestic Product expanded by 8.9% in 2024, surpassing the previous year’s growth of 8.2%, according to the latest Rwanda Economic Update …

  Ugandan lender sets sights on profitability top-tier as rivals Stanbic and Bank of Baroda stay ahead—for now Kampala, Uganda | THE INDEPENDENT | In a banking sector still feeling the effects of cautious post-pandemic recovery and tighter monetary conditions, dfcu Bank has delivered a notable performance that signals a shift …

Kampala, Uganda | THE INDEPENDENT | Uganda Clays Ltd has reported a net loss of Shs 4.95 billion for the year ending December 31, 2024, driven by increased production costs and finance expenses. This marks a deepening of the company’s loss, compared to Shs 2.85 billion in 2023, despite a 4% …

Kampala, Uganda | THE INDEPENDENT | Uganda Breweries has launched a campaign dubbed “Eyo Red Card,” which aims to promote responsible drinking among alcohol consumers. The campaign is a call to action for consumers to make informed and responsible choices when drinking alcohol, ensuring that a great night out doesn’t …