Business

By Patrick Kagenda Who would want to put their money in a company whose net worth is not clear? Since the National Insurance Corporation (NIC) issued its long awaited Initial Public Offer (IPO) on December 31, 2009, the event has raised several questions that remain unanswered. Top on the list …

By Patrick Kagenda They had hoped for even deeper cuts Uganda Clays pays an average Shs 99 million per month in user fees to Umeme, the electricity distribution company. That is about Shs 1 billion per year or about a quarter of the profit that the housing clay products company …

By The Independent Team Interested company linked to bribery in Nigeria Plans to start refining Uganda’s oil may be delayed because of wrangling over new partners by the exploration companies, Heritage Oil and Tullow Oil. President Museveni in his New Year address to the nation on December 31, 2009, said …

By The Independent Team ‘A strong position has to be taken on corruption and efficiency of local government in the delivery of services’ According to the International Monetary Fund (IMF) Uganda`s real economic growth is projected at6.0 percent in 2010, higher than that of many other comparable countries. The projection …

By Patrick Kagenda & Joshua Masinde The year 2009 began with projections of declining economic growth especially in Sub- Saharan Africa as a result of the global financial meltdown. Growth was projected to decline from 7 percent in 2007 to 6 percent in the financial year 2008/09. The economy has …

By Agencies Resurgent mineral exports and foreign investor demand look set to support African currencies in 2010, but an array of local factors, ranging from bad weather to anti-gay legislation, could upset that trend. The region’s high-yielding debt and strong economic growth prospects are likely to lure foreigners into frontier …

By Independent team Experts say Uganda assets undervalued Government to state position on Tullow in January After an initial surge on speculation that its Ugandan assets may fetch a higher price than Eni had offered, Heritage Oil shares on the London Stock Exchange settled lower. Heritage, run by Tony Buckingham, …

By Kelvin Odoobo Rwanda’s fledging stock market is set for a major boost as government prepares to list 25% of its 30% stake in the national brewer BRALIRWA. According to the operations manager of Capital Markets Advisory Council (CMAC), Celestin Rwabukumba, the process of issuing an initial public offer (IPO) …

By Patrick Kagenda Used car prices in Uganda are set to go up following the introduction of the pre-shipment inspection of vehicles at the port of origin. Three companies, Jevic Japan, East Africa Automobiles and Jabal Kilimanjaro were recently contracted for the job by the Uganda National Bureau of Standards …

By Joseph were Long-necked beer bottle named brewer’s 18% growth Questions about why Nile Breweries is battling to retain sole use of the 500 ml long neck bottle on the Ugandan market have finally been answered. The long-necked bottle is one of three factors that Nile’s parent company, SABMIller of …