Business

The government has reintroduced the Retirements Benefits Sector Liberalisation Bill 2011 to Parliament amidst protests from Worker’s members of parliament and trade unionists. The Bill is aimed at ending the monopoly of the National Social Security Fund as the savings body for workers. The Fund is now worth Shs6 trillion. …

Beijing, China | AFP |  Beijing is tightening screening on Chinese companies’ overseas investments, according to the government and reports, after a record-setting shopping spree raised concerns of capital flight and reckless spending. Authorities will “combine facilitating foreign investment with guarding against investment risks” by scrutinising proposed deals, said a …

Cash strapped UTL managers chase capital to fund three years turnaround strategy Uganda Telecom is one of the oldest telecom companies in the country and the third in terms of subscriber base now standing at less than two million out of the 22.97million mobile phone users, writes Julius Businge. Owned …

RwandAir unveils inflight duty free services Following the arrival of ‘Kalisimbi‘, RwandAir’s third Boeing B737-800NG and first – also in Africa – with inflight WiFi connectivity on Nov 16, has the airline’s CEO John Mirenge announced the launch of inflight duty free sales over the coming days. Once in place …

Algiers, Algeria | AFP |  Volkswagen on Sunday signed a deal with its Algerian sales partner Sovac for the construction of a vehicle assembly plant in the North African country, officials told a news conference. Under the deal, worth $170 million (160 million euros), the plant will produce its first …

Why tension is growing over Indian, Chinese retail traders On Nov.18, traders in the northern Uganda town of Lira refused to open their shops for business in protest against what they termed as `unfair competition’ from foreign traders; mainly Indians. The protest by traders under the Lira Business Community (LBC) …

Warri, Nigeria | AFP |  Nigerian militants on Sunday blew up a state-run pipeline in the restive oil producing south, in the latest act of sabotage aimed against the strategic sector, a local official said. “The pipeline popularly known as the Abura line was bombed at about 7:30 am on …

Lagos, Nigeria | AFP |  It’s not Nigerian President Muhammadu Buhari’s fault that Nigeria’s economy is inextricably tied to the global price of oil, now half of its 2014 peak of over $100 per barrel. But the president’s response to the economic crisis has a growing number of people concerned …

Washington, United States | AFP | Donald Trump’s White House triumph this month caught the business world by surprise but also breathed life into a little-understood US industry: private prisons and migrant detention centers. Following the Republican’s election, shares in two of the sector’s major players, CoreCivic (formerly known as …

New York, United States | AFP |  Donald Trump’s daughter Ivanka, accused of a potential conflict of interest as she helms her own brand while making frequent appearances with her president-elect father, is separating her business and personal social media accounts. In a “letter” that appeared Tuesday on her Twitter …