Kampala, Uganda | THE INDEPENDENT | In a bid to curb the embezzlement of the Parish Development Model (PDM) funds, the government will start disbursing the revolving funds directly to Sacco group accounts. The parish Revolving fund is a capitalization grant from the government to SACCOs meant for lending to …
Read More »Ethiopia earns over $560 million from gold exports in 2021/2022 fiscal year
Addis Ababa, Ethiopia | Xinhua | Ethiopia has earned more than 560 million U.S. dollars in revenue from gold exports during the last Ethiopian 2021/2022 fiscal year, which ended on July 7, an Ethiopian official said Wednesday. State Minister of Ethiopia Ministry of Mines Thomas Tut said the bulk of …
Read More »Ghana launches AfCFTA hub to facilitate businesses
Accra, Ghana | Xinhua | Ghana launched its African Continental Free Trade Area (AfCFTA) hub Monday to increase local participation in the continent-wide free trade and facilitate businesses. “The AfCFTA hub is the principal tool for aligning Ghana’s own wide-ranging digitalization policy with the various opportunities presented by AfCFTA,” said Minister …
Read More »Court halts eviction of business operators in Makerere
Kampala, Uganda | THE INDEPENDENT | The High Court in Kampala has issued an interim injunction restraining Makerere University from evicting hundreds of people who operate different businesses within the institution. According Civil Division Judge Boniface Wamala, his order will be in force pending the determination of the main application for …
Read More »Business owners seek judicial review on eviction notice from Makerere
Kampala, Uganda | THE INDEPENDENT | Several private business operators at Makerere University have petitioned the High Court to quash a decision by the administration to evict them. Through their umbrella body, the Makerere University Business Owners Association, they are challenging the eviction notice issued by the university on July 1st, …
Read More »Businesses operating within Makerere University premises face eviction
Kampala, Uganda | THE INDEPENDENT | Makerere University has ordered all businesses to vacate campus premises. Citing a resolution by the Makerere University Council, the Acting Deputy Vice-Chancellor in charge of Finance and Administration wrote on the 1st of July directing that all vendors and business owners are required to cease …
Read More »Will Gulu city authorities sustain directive on trade order?
Gulu, Uganda | THE INDEPENDENT | Just four days after Gulu City council authorities launched a mass eviction of individuals conducting businesses in ungazetted spaces, normalcy appears to have returned on the major streets within the city center and the Main Market. Pedestrian walkways and pavements on major streets of …
Read More »Russia-Ukraine conflict hurting East Africa’s business community
Nairobi, Kenya | Xinhua | The Russia-Ukraine conflict is hurting the performance of East Africa’s business community due to the rising prices of key commodities, the regional apex lobby said Tuesday. John Bosco Kalisa, the chief executive officer of the East African Business Council (EABC), told journalists in Nairobi, the capital …
Read More »EAC private sector calls for better financial services to boost trade
Nairobi, Kenya | THE INDEPENDENT | The private sector has blamed the banking industry in the East African Community for doing little to promote trade and investment, which has kept the region’s development slow. The investors say banks have not helped them access the financing needed to boost trade to catch …
Read More »Business picks up on Martyrs day eve
Kampala, Uganda | THE INDEPENDENT | Business has picked up this morning at Namugongo Martyrs shrine according to traders. The most sought-after items include jerry cans, scarfs, rosaries, and other religious items. By 9:00am in the morning, a number of pilgrims were seen buying jerrycans costing between 1,000 and 3,000 Shillings …
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