Kampala, Uganda | THE INDEPENDENT | President Yoweri Museveni has urged the Uganda Revenue Authority (URA) to fill up existing tax gaps so that the country can gain financial independence and stop borrowing money to finance its budget. The President made the remarks at the ongoing first Science Model Workshop …
Read More »S.Africa plans $1bn investment in South Sudan oil industry
Juba, South Sudan | AFP | South Africa and South Sudan signed an outline agreement on Friday that could see Pretoria invest around $1 billion (880 million euros) in South Sudan’s struggling oil industry. The agreement, which will be subject to detailed negotiations between the countries, was made between two …
Read More »Gov’t to regulate pyramid schemes and crypto currencies
Kampala, Uganda | THE INDEPENDENT | The Minister of State for Finance (Planning) David Bahati has revealed that government is set to introduce a bill that will regulate digital currencies and pyramid schemes. “In October, Cabinet approved the National Payment System Bill. We intend to bring it …
Read More »Uganda Parliament rejects zoning as it passes Sugar Bill
Kampala, Uganda | THE INDEPENDENT | Parliament has passed the Sugar Bill that seeks to regulate the industry and rejected a government proposal to provide operating zones for mills. In the Bill, government had proposed a zone of 25km between mills with no more than one mill in that zone …
Read More »Ghosn gone: Nissan drives out chairman after arrest
Tokyo, Japan | AFP | Nissan’s board sacked Carlos Ghosn as chairman on Thursday, a spectacular fall from grace for the once-revered boss whose arrest for financial misconduct has stunned the business world, as France and Japan insisted they want the Nissan-Renault alliance to survive the scandal. Ghosn, in jail …
Read More »BUDGET: Zimbabwe to cut govt salaries to curb spending
Harare, Zimbabwe | AFP | Zimbabwe’s new finance minister Mthuli Ncube announced a five-percent cut to senior government officials’ salaries on Thursday in a bid to mend the shattered economy. Ncube’s budget also set out plans for the biometric registration of civil servants to weed out “ghost” workers who …
Read More »Trump thanks Saudi Arabia for lower oil prices
Washington, United States | AFP | US President Donald Trump on Wednesday ignored criticism that he gave Saudi Arabia a free pass on the murder of a dissident journalist, instead praising the Islamic kingdom for keeping oil prices low. Trump, on holiday at his Florida Mar-a-Lago Club, doubled down on …
Read More »UIA’s revolving door
Investment agency is hunting for a new ED as it waits for IGG report on restructuring Kampala, Uganda | IAN KATUSIIME | After making a detailed presentation about investment licensing at a breakfast meeting, Basil Ajer, the Acting Executive Director of Uganda Investment Authority (UIA), held his breath and said he …
Read More »Now, S.Africa’s ex-president Zuma backs fired tax boss
Johannesburg, South Africa | AFP | South Africa’s former president Jacob Zuma on Tuesday threw his weight behind the ex-head of the country’s tax collection agency who was recently sacked by President Cyril Ramaphosa. The move pitted Zuma directly against his successor Ramaphosa, who came to power in February when …
Read More »New facility to boost Kampala’s waste management
Kampala, Uganda | AGNES E NANTABA | Rodney Mukula is the managing director of the Kampala based Asante Waste Management Limited. He spoke to The Independent’s Agnes E Nantaba about challenges of waste and plastic management and the probable solutions in Uganda. What are the key elements in your management philosophy? …
Read More »