Business

Kampala, Uganda | PPU |  President Yoweri Kaguta Museveni has launched “The presidential initiative on skilling the girl child” at the Northern Wing of Wandegeya market outside Kampala. The Presidential Initiative on Skilling The girl child, aims to reduce on the unemployment rates by offering  girls extra skills in baking, tailoring, weaving, shoe-making …

Five employees of Equity Bank – Uganda have been sentenced to jail terms ranging from 5 to 12 years after the Anti-Corruption  Court found them guilty of embezzling sh4.6 billion from their employer. Justice Margaret Tibulya  has sentenced Abubakar  Karungi to 12 years,  David Sserwamba  and Matthew Keeya have been …

Barclays PLC sells 33.9% more shareholdings in Barclays Africa London based Barclays PLC on June 01 shed 33.7% more shareholdings in Barclays Africa Group to equity investors at South African Rand R37.7bn, further reducing its stake in the latter company. The lender sold 285.7million Barclays Africa ordinary shares reducing its …

URA recognises top 20 tax paying educational institutions Uganda Revenue Authority has released a list of top 20 tax payers in the education sector ahead of June 8 – the day Finance Minister Matia Kasaija presents the 2017/18 national budget. According to a notice released by URA’s Commissioner General, Doris Akol …

Barclays PLC has announced its intention to sell 187 million ordinary shares in Barclays Africa Group, which represents approximately 22% of Barclays Africa’s issued share capital. This follows receipt of the required regulatory approvals, including approval from the South African Minister of Finance, for Barclays PLC to reduce its shareholding …

  Budget provided biggest share of Sh4.6 trillion to the works and transport sector representing 21%. The Sh29 trillion national budget approved by Uganda’s Parliament on Wednesday provides its biggest share to the works and transport sector  with an allocation of sh4.6 trillion representing 21%. While presenting the financial year …

Uganda’s Parliament has passed a Sh29 trillion budget for fiscal year 2017-18 on deadline day Wednesday despite stiff opposition to the amount of loans. Parliament only moved to consider the Appropriation Bill,2017 which is the final stage of the budget process, after the Deputy Speaker suspended The House for 15 minutes …

Mombasa, Kenya | AFP |  Kenya’s President Uhuru Kenyatta on Wednesday inaugurated a Chinese-built railway, the country’s biggest infrastructure project since independence that is aimed at cementing its role as the gateway to East Africa. The boxy red-and-white diesel train left from a gleaming new terminal in the port city …

Fuel distributor, Vivo Energy Uganda, has hired a new managing director, Gilbert Assi, to replace Hans Paulsen who has been at the helm of the company over the  past three years. Paulsen has been promoted to a senior role in the company, working across all countries in Africa where it …

London, United Kingdom | AFP |  Manchester United have been rated as Europe’s most valuable club by a new report into the financial muscle of the continent’s top teams. The report by professional services firm KPMG looked at the finances of 39 clubs based on their popularity on social media …