Business

By Patrick Kagenda Interest payments plunge from 14% to 3 %, inflation hits 15% As the July deadline for the National Social Security Fund (NSSF) to declare the annual interest to its members nears, speculation is mounting that the compulsory saving scheme for all private sector workers could announce a …

By Agencies The African Development Bank (AfDB) Group’s Chief Economist, Louis Kasekende,(left) has said that the Natural Resource Charter – a set of economic principles for governments and civil society organizations, detailing best approaches to managing opportunities created by natural resources for development – would help governments and societies rich …

By Patrick Kagenda BoU says it has no means of forecasting value of currency A top Bank of Uganda official last week confirmed the continuing depreciation of the shilling. Mary Katalikawe, the director for research at the central bank spoke as the world’s leading financial market analysts predicted that the …

By Patrick Kagenda Crane Bank has launched its Visa credit card. The new card will enable holders to use a small plastic card issued by the bank to pay for goods and services based on a line of credit from the bank as a cash advance. All card holders will …

By Independent Team & Agencies New study predicts mobile penetration hits 40% A new report from Pyramid Research indicates that mobile penetration in Uganda is expected to increase from 39 percent in 2009 to about 70 percent by 2014. This jump will be driven by the successful liberalization of the …

By Agencies Uganda plans to go-ahead with the construction of a mini-refinery for its two billion barrels of crude reserves after previously ruling the idea out, the state energy minister said. Investor interest is heating up for Uganda’s oil discoveries since explorers Tullow Oil and Heritage Oil discovered hydrocarbons in …

By Patrick Kagenda A new insurance company offering rare insurance services has entered the Uganda market. Africa Trade Insurance (ATI) is a multilateral political and credit risk insurer that recently opened shop in Uganda. But its major challenge is to sell itself to the local insurance firms as most of …

By Patrick Kagenda A 73% decline in the value of off-shore investments has forced Bank of Uganda to rethink its policies. BoU Deputy Director of Research, Charles A. Abuka, told a workshop organized for forex bureau operators that the bank was reviewing its fiscal policy programs to fit in with …

By Melina Platas Survey lists top Uganda economic problems Most Ugandans think the economy is doing badly and getting worse, according to the findings of a latest survey on various sectors of the country. The Afrobarometer, an independent, non-partisan research instrument that surveys 20 African countries, recently released their fourth …

By Patrick Kagenda How does your day start? My day starts at 5a.m. with indoor exercises. By 6: 30 a.m. I am on the road. When I arrive at office, usually by 7 a.m. depending on traffic jam, I read mail and newspapers before the morning meetings with my senior …