Posts in category

Business


Players in the oil industry in Uganda are pushing for a significant inclusion of local participation in the sector as the country targets to produce its first commercial oil. They say that for the country to realize equitable benefits and sustain oil production, local citizens must be involved in the provision of services. This was …

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Uganda has been moved out of the grouping of economies considered prone to illicit financial transactions and terror financing. This follows the approval of global financial watchdog, Financial Action Taskforce International Cooperation Review Group (TAFT/ICRG) which recently endorsed steps taken by Uganda to curb money laundering. A FATF Plenary meeting held in Argentina on November …

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Uganda Investment Authority (UIA) has reported a spike in the trend of investments being attracted to do business in the last six months. In the two quarter period between April and September 2017, a total of 164 business projects worth USD 641 million which is three times above target (USD 200 million) were registered in …

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Uganda Investment Authority (UIA) has attributed the regression registered by Uganda in the recent World Bank Ease of Doing Business index to poor publicity. Uganda dropped seven places to 122 in the business environment rankings conducted by World Bank in 190 economies across the world. The rankings are based on the reforms made by different …

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President Yoweri Museveni has appealed to investors in Dubai to tap into the growing market within the East African Community and Africa, asking them to consider doing business in Uganda. He told a group of investors that unlike Western markets, Africa’s demand was growing largely due to underconsumption which makes it a viable hub for …

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Uganda Revenue Authority (URA) has fallen short of its quarter one target revenue collection by Shs 1.26 trillion. Figures from the tax body indicate that Shs 3.14 trillion was collected in the first quarter (July to September this year) compared to the target of Shs 3.27 trillion. The first quarter collections represent 20.89% of the …

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Uganda’s insurance regulator has granted Stanbic Bank a bancassurance license, making Stanbic the first commercial bank in the country to get the license. The Insurance Regulatory Authority (IRA) issued the license following the enactment of the Financial Institutions Amendment Bill 2016 which included a provision for Bancassurance and the subsequent approval of the regulatory guidelines …

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The Governor of the Central Bank Tumusiime Mutebile and other players in the banking sector have asked that government fast track the implementation of the Financial Inclusion Strategy so as to deepen the penetration of financial services. They say that for Uganda to achieve socio-economic growth, the 15% of adult Ugandans that still rely on …

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Sunday was the 6th edition of Kampala city festival and multitudes of people flooded the city streets to partake in the festivities. As early as 9am in the morning, the entire stretch from Kampala Road to Jinja Road along with adjacent streets were filled with funfare and vendors selling merchandise. Whereas there was plenty for …

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Bank of Uganda has Tuesday further eased its monetary policy by reducing the Central Bank Rate (CBR) by 0.5 percentage points to 9.5 percent. This, the Central Banks says is aimed at boosting private sector credit growth and strengthening economic growth momentum. While issuing the Monetary Policy Statement for the month of October, the Governor …

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