The Fund’s Assets Under Management grew by 17.5% to Shs 26 trillion by the close of the Financial Year 2024/25 Kampala, Uganda | JULIUS BUSINGE | The National Social Security Fund (NSSF) has reported a remarkable performance for the financial year 2024/25, marking the close of its 10-year strategic plan, …
Read More »Airtel Uganda half-year profits rise 29% as data offsets voice decline
Kampala, Uganda | THE INDEPENDENT | Airtel Uganda has posted a 28.7% jump in after-tax profit for the first half of 2025, buoyed by strong growth in data services, which offset a fall in voice revenues. The telecom firm reported a profit after tax of Ushs 197.2 billion, up from …
Read More »MTN Uganda H1 revenue hits Shs 1.7 trillion on data, fintech growth
Kampala, Uganda | JULIUS BUSINGE | MTN Uganda has posted robust financial results for the first half of 2025, buoyed by surging demand for data and financial technology services as more Ugandans tap into the digital economy for communication, business, and daily transactions. For the six months ending June 30, 2025, …
Read More »Kenya’s tax revenue hits new high at $19.9 bln in 2025
NAIROBI | Xinhua | Kenya recorded tax revenues of 2.57 trillion shillings (19.9 billion U.S. dollars) for the financial year ending June 30, representing a 6.8 percent growth from the previous financial year, the revenue agency said Thursday. Humphrey Wattanga, commissioner general of the Kenya Revenue Authority (KRA), said …
Read More »Experts warn gov’t on unplanned loans
Kampala, Uganda | THE INDEPENDENT | Experts have urged Uganda to avoid taking loans for which they never prepared and planned, as this distorts growth and development. This comes as the country embarks on what many have termed “ambitious”, a journey to grow the economy from the current 53 Billion …
Read More »Kenya’s fiscal outlook remain fragile amid debt, weak revenue
Kenya’s real GDP is expected to pick up gradually in the medium term, with growth projected to increase from 4.5 percent in 2025 to about 5.0 percent in 2026–27 Nairobi, Kenya | THE INDEPENDENT | Kenya’s public debt remains at high risk of distress, with interest payments absorbing about a third …
Read More »PROFIT: Absa Bank Uganda reports 22% growth
Financial results for the year ended December 31, 2024 show revenue climbs 15% to sh546 billion 🔴Highlights of Absa Bank Uganda 2024 Performance ✳ Profit After Tax: Increased by 22%, to UGX 178 billion. ✳ Revenue: A growth of 15.1%, driven by growth in customers, transactional activity, and credit support. ✳ Customer Loans: …
Read More »Malawi Revenue Authority benchmarks Uganda’s Digital Tax Stamps
Kampala, Uganda | THE INDEPENDENT | The Uganda Revenue Authority (URA) has hosted an eight-member delegation from the Malawi Revenue Authority (MRA) for a five-day benchmarking visit on Digital Tax Stamps (DTS). The visit aimed to provide insights into the implementation, monitoring, and enforcement of the system as Malawi prepares …
Read More »Uganda’s coffee exports revenue rise to USD 115.02 million
Kampala, Uganda | THE INDEPENDENT | The Ministry of Agriculture, Animal Industry, and Fisheries (MAAIF) has reported that Uganda’s coffee export revenue has risen to USD 115.02 Million, in December 2024. Information from MAAIF indicates that Uganda exported 413,221 60-kg bags of coffee in December 2024, generating USD 115.02 Million in revenue, marking …
Read More »URA surpasses half-year revenue target with Shs 322billion surplus
Kampala, Uganda | JULIUS BUSINGE | The Uganda Revenue Authority (URA) has reported a remarkable performance in its half-year revenue collection, surpassing its target for the July to December 2024 period. The tax authority collected Shs15.25trillion against the target of Shs 14.93 trillion, registering a surplus of Shs 322 billion and …
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