Tag Archives: Julius Businge

New $20mn firm welcomed but analysts say government must strengthen legal and monitoring framework of minerals sector     President Yoweri Museveni’s launch of a $20 million African Gold Refinery Ltd (AGR) – the first in East and Central Africa – in Entebbe on Feb.20 was a bold step welcomed by …

Other banks say the government needs to urgently pass regulatory framework Stanbic has identified about 1000 agents to deal with as soon as the proposed new agency banking is legalised, according to the Chief Executive Officer of Uganda’s largest bank, Patrick Mweheire. In an interview with The Independent, Mweheire said …

When The Independent recently spoke to William Sekabembe, the chief of business and executive director at dfcu about the bank’s strategy on digital banking, his comments reflected the popular view.   “We are investing heavily in technology so we can serve our customers without necessarily opening new branches in all parts …

Analysts predict a rebound in the market activities this year and so is the surge in prices Trading activities on the Uganda Securities Exchange showed a high decrease in market turnover on Jan.06, registering a 97.2% decline to Shs51million compared with the previous day. The All Share Index modestly increased …

Members say leader of oldest party in country must either quit or wind it up The leadership of President Norbert Mao of the Democratic Party is increasingly coming under major scrutiny. Mao is being accused of weakening Uganda’s oldest party with some critics saying he has ‘sold’ the party to …

Christine Lagarde says government need to focus on reducing inequality The International Monetary Fund Managing Director Christine Lagarde on Jan. 27 found herself on the defensive as the audience sought for the global fund’s roles on Uganda’s development. This was during a public lecture held at the Kampala Serena Conference …

Shareholders of the regional beer maker, East African Breweries Limited (eabl) are set to receive a dividend of Kshs 2 (Shs 68) per share even as the company recorded a 2% growth in profit after tax to Shs 188bn in the second half of the year ending December 31, 2016 …

Lagarde is visiting when the government is desperate for new money but in no mood to listen. Usually that means no deal but possibly not when the IMF and Museveni need each othe. Meetings between teams from IMF and planners of Uganda’s economy, especially President Yoweri Museveni, have historically involved …

Private sector say government proposal to increase domestic borrowing from Shs1.3trillion to Shs1.4 trillion will deny them of cheap financing during the year Uganda has once again released its budget proposal for the next financial year, raising government spending 15% to Shs30.2trillion in the fiscal year from July, with bulk …

Oil pundits sees Tullow Oil plc.’s new share sale a strategy to exit the country’s oil sector London-Based Tullow Oil plc’s announcement that it is once again scaling down its stake in Uganda’s oil development, shedding off nearly two thirds of its shareholdings to the rival firm, Total E&P for …