Business

Gen. Saleh now running Museveni’s government On July 21, a group of Kampala traders met at Serene Suites, a boutique hotel of two boxlike four-story blocks on top of Mutundwe Hill on the edges of the city that has become a sort of headquarters for the financially-distressed business people. The …

  Singapore, Singapore | AFP | Oil prices fell further towards the $40 mark in Asia Friday, extending losses to a seventh-straight day on renewed worries about a global supply glut, increased production. The commodity has slipped nearly 20 percent since its 2016 peak above $50 in early June as …

Uganda Revenue Authority (URA) collected sh11.23 trillion, 400 billion less than targeted for the fiscal year 2015/16. Despite the shortfall on the target, the tax figures represented a growth of 15.60% (sh1.5 trillion) from the previous year’s figure of sh9.7 trillion collected in revenue.  URA has now been taxed to …

Reorganisation of major player sparks interest in e-commerce deals Big is better. That seems to be the thinking behind Africa Internet Group’s decision to pool all its franchises, mainly online marketing offerings, under one brand name. And what that brand name would be seemed pretty obvious. Although AIG had seven …

Lagos, Nigeria | AFP | Every morning, Mama Biliki prepares small bags of popcorn outside her ramshackle house in Ajegunle, one of Lagos’ poorest neighbourhoods, to sell by the roadside for 50 naira each. On a good day, she reckons she can earn about 5,000 naira ($16, 15 euros) hawking …

Deputy Governor of Bank of Uganda Louis Kasekende answered questions from The Independent’s Ian Katusiime about the bank’s upcoming golden jubilee anniversary and other economic issues.   Bank of Uganda (BoU) is marking 50 years. Looking back, what does this mean for BoU? This anniversary gives the Bank of Uganda …

Role of central banks: Kasekende caught between bulls and bears Central banks need to do something about market failures. The question is what? That was the focus of discussion at the Bank of Uganda organised debate on `The Role of a Central Bank in a Market Oriented Economy’ on July …

National Social Security Fund boss Richard Byarugaba has rubbished media reports that the institution would be providing a mind-boggling 1 trillion shillings to for an impending bailout of selected business moguls. The nation is grappling with tail-spinning details that emerged of President Museveni spearheading a life-saving campaign for heavily indebted …

One of Africa’s richest men, Kampala property mogul Sudhir Ruparelia says no bank is interested in taking the property of a client who defaults on a loan. In an exclusive interview, Sudhir told The Independent that when clients default on loans and banks are forced to foreclose, there are usually …

S&P keeps Uganda at B/B credit rating, Central bank governor happy over assessment   Increased investment in the infrastructure projects has helped Uganda to maintain its credit rating, according to the latest Standards and Poor report which maintained the country’s B/B rating. That is a mid-level assessment which is way …