Business

Reports estimate that trade-based money laundering costs Uganda over $6.6 billion annually Kampala, Uganda | JULIUS BUSINGE | Financial experts have called for sustained collaboration between Uganda’s public and private sectors to strengthen the country’s anti-money laundering (AML) framework, following its recent removal from the Financial Action Task Force (FATF) Grey …

Uganda, UAE Firm Sign Refinery Implementation Agreement Entebbe, Uganda | THE INDEPENDENT & AGENCIES | Uganda has signed a deal that paves the way for the implementation of its first crude oil refinery project. UAE-based Alpha MBM Investments will have a 60% stake in the oil refinery to be built …

Returnees from Middle East given new skills, qualify in entrepreneurship training supported by the International Labour Organization, UK government and Finance Trust Bank Kampala, Uganda | THE INDEPENDENT |  Wazesha Impact has awarded certificates to 400 returned migrants who completed their entrepreneurship training. The graduates have been undergoing business upskilling through the …

Kampala, Uganda | THE INDEPENDENT | Escalating cases of god scams are undermining revenue collection as well as investments in the mining sector says one of the energy and mining policy experts in country. Bwesigye Don Binyina, the Executive Director of the African Centre for Energy and Mineral Policy (ACEMP) …

MBARARA, UGANDA | THE INDEPENDENT | Nile Breweries Limited (NBL), a subsidiary of AB InBev, has successfully reduced water consumption at its Mbarara brewery by 40% since its commissioning in 2013, it said on March 27. This achievement was highlighted during the World Water Day commemoration in Mbarara, where George Odong, Brewing Manager at Mbarara Brewery, …

Kampala, Uganda | THE INDEPENDENT | The Financial Intelligence Authority (FIA) has called upon stakeholders to join forces and prevent Uganda from being relegated back to the anti-money laundering and terrorism financing grey list. The appeal comes just a year after Uganda was removed from the grey list by the  Financial …

Kampala, Uganda | THE INDEPENDENT | Government has presented a Shs40.7 trillion budget for the 2025/26 financial year, outlining significant investments across key sectors to drive economic growth and development. This is contained in the Appropriation Bill, 2025 tabled for its first reading by the Minister of State for Finance …

Kampala, Uganda | THE INDEPENDENT | Government has tabled before Parliament the Supplementary Appropriation Bill, 2025, aimed at allocating up to Shs4.8 trillion to critical priorities including defence, security and infrastructure. The Minister of State for Finance, Planning, and Economic Development (General Duties), Henry Musasizi, tabled the Bill on behalf …

Kampala, Uganda | THE INDEPENDENT | Network International (Network), a leading enabler of digital commerce in the Middle East and Africa, has extended its partnership with Dubai- based carrier flydubai to introduce mobile money payments for its customers in Kenya and Uganda. This move will facilitate seamless transactions for bookings and …

Equity Group reports US$468.7 million profits before tax, driven by strategic diversified growth ✳ Proposed dividend per share of UgSh120 – a payout ratio of 34.5% ✳ Earnings per share increased by 11% to UgSh348 ✳ Asset quality improves by 100 basis points from Q1 2024 to Q4 2024. ✳ …