Business

CAPTION: Hon. Kankunda presented the report recommending the waivers to Parliament on Friday 20th February 2025. (Courtesy photo).   KAMPALA – Parliament has approved tax waivers of over Shs9.5 billion for selected local investors for the financial year 2024/2025. This followed the adoption of the report of the Committee on Finance, Planning, and Economic Development on […]

CAPTION: President Museveni (2nd right) commissions Piston Medical Factory in Matugga on Thursday 20th, February 2025. (PPU photo).  By Stephen Wandera OumaMATUGA – President Museveni has commissioned Piston Medical Factory in Matugga, marking a significant step towards local manufacturing of critical medical products.The factory is set to produce both Large Volume Parenteral (LVPs) and Small Volume […]

CAPTION: Officials from CEO Summit Uganda and NSSF pose with graduates from the 3rd Cohort of the NSSF Pathfinder Catalyst Academy.This was at the graduation ceremony at Serena Conference Center. (Courtsey photo). By Our reporterKAMPALA – CEO Summit Uganda, a think-tank aimed at developing well- rounded selfless leaders together with the National Social Security Fund (NSSF) […]

By Our reporterKAMPALA – Wendi mobile wallet developed by PostBank has revolutionized the payment process for the Parish Development Model (PDM) program through its innovative digital platform. By leveraging cutting-edge technology, Wendi has successfully digitized PDM payments, reducing processing time, increasing efficiency, and promoting financial inclusion.Prior to the introduction of Wendi, PDM payments were manual, […]

CAPTION: Officials from  Africa Global Logistics (AGL), DDG Logistics, and EACOP officially flag off 10 additional trucks to support the pipeline development.  (Courtesy  photo).  By Petra AmitoNAMAVE – The East African Crude Oil Pipeline (EACOP) Ltd in partnership with Africa Global Logistics (AGL) and DDG Logistics has officially flagged off 10 additional trucks to support the transportation […]

CAPTION: Museveni commission the Mirama-Kabale high voltage power-line and its substation at Hamuko village in Rubanda district on Tuesday, January 12th 2025. (PPU photo).   By Stephen Wandera OumaRUBANDA – Resident Yoweri Kaguta Museveni has emphasised the importance of conserving wetlands, saying they act as reservoirs for water that is always used to generate hydropower electricity.President Museveni […]

  By Our reporter KAMPALA – The 22nd African Water and Sanitation Association International Congress and Exhibition (AfWASA ICE2025) is set to take place in Kampala, Uganda, from February 16-20, 2025. This year’s event marks AfWASA’s 45th anniversary and is expected to draw over 3,000 delegates from more than 100 countries. Under the theme “Water […]

CAPTION: Inspire Africa Director Nelson Tugume, (L) shows President Yoweri Museveni, (2nd L), Minister of Science, Technology, and Innovation Dr Musenero Monica, (2nd R) and State Minister for Investments Evyln Anite (R) products of the company recently. (File photo). By Our reporterPARLIAMENT – The Leader of the Opposition, Hon. Joel Ssenyonyi has asked the government to […]

CAPTION:  Workers in the textile industry sawing cloth.   By Our reporter KAMPALA – Members of Parliament on the Committee of National Economy are concerned about the distribution of the Uganda Development Bank (UDB) financing as the government seeks a US$275 million loan to recapitalize the bank. The Minister of State for Finance, Planning, and […]

By Our  reporterKAMPALA – The Old Mutual Investment Group (OMIG), a black-owned African investment manager with a strong history of fostering investment growth, hosted the 2025 edition of the 2024 Annual Agents Awards and 2025 Incentives Launch.Held at the Golf Course Hotel in Kampala recently, the event gathered hundreds of UMIG sales agents, eager to […]

CAPTION: Michael Atingi-Ego, left, and Nuwagaba, right. By Our reporterWhat you need to know:The development comes as the institution continues to deal with the discomfiture of last September’s heist in which the bank, with a stroke of a few keys on a computer keyboard, was manipulated to wire Shs50 billion to wrong payees.Mr Michael Atingi-Ego has been […]

CAPTION: The Attorney General, Kiryowa Kiwanuka (2nd L) and State Minister for Finance, Musasizi interact with the LoP, Joel Ssenyonyi (R) as Hon. Achia looks on. By Our reporterPARLIAMENT- Government will  prioritise debt management, domestic revenue mobilisation, and economic transformation in the next financial year.This revelation was made by the State Minister for Finance (General Duties), […]

CAPTION: UECCC Managing Director, Roy Nyamutale Baguma. By Our reporterKAMPALA – The Uganda Energy Credit Capitalisation Company (UECCC) has secured a grant of €13.1 million to develop nine mini hydro power sites as part of a single rural electrification project. The initiative is funded by the Netherlands Government’s ORIO Infrastructure Fund (now known as “Invest International”) […]

CAPTION: One of Uganda Airline’ plane in the sky. (Courtsey Photo).   By Our reporter KAMPALA – Uganda Airlines has suspended all flights to Kinshasa with immediate effect, citing the deteriorating security situation in the Democratic Republic of Congo (DRC). The airline attributed the decision to ongoing fighting in the region. “Flights will remain suspended […]

CAPTION: A Section of the Kampala – Entebbe Expressway. WAKISO – The Kampala – Entebbe Expressway, has so far handled collected 119.8 Billion Shillings since tolling and maintenance commenced three years ago. Managed by Egis Road Operations, the expressway is the first tolled road under a government system of managing infrastructure maintenance and the loans used […]

CAPTION: Graduates of the 2nd Cohort of the LEAN Forward Modular Program pose with CEO Summit Uganda officials at the program’s graduation ceremony at Four Points by Sheraton Hotel.KAMPALA –  In a remarkable celebration of leadership, women’s empowerment, and resilience, the CEO Summit Uganda graduated its second cohort of women leaders from the LEAN Forward […]

CAPTTION: President  Museveni, (centre in white shirt) poses for a photograph with a high-level delegation from Emirates Airlines at State House Entebbe on January 21st 2025 Airlines. (PPU Photo). By Stephen Wandera OumaENTEBBE- President Yoweri Kaguta Museveni has met a high-level delegation from Emirates Airlines who paid a courtesy call on him at State House, Entebbe. […]

CAPTION: Col. Nakalema at the BPO strategic meeting with stakeholders made the remarks Tuesday 21st January 21, 2025 in Kampala.  By Stephen Wandera OumaKAMPALA – Government is commitment to create sustainable employment opportunities for the youths, the Head of the State House Investors Protection Unit (SHIPU), Col. Edith Nakalema has said.According to Col. Nakalema, one of […]

  By Our reporterKAMPALA – The Bank of Uganda has reduced the frequency of the review of the Central Bank Rate, to allow for more comprehensive economic analysis and enhanced forecasting accuracy.This, the Bank says, will in turn enable the management to “build upon our established track record of effective policy decisions.”The Monetary Policy Statement will […]

ATIAK – Security personnel have intensified operations to impound cattle being illegally grazed on parts of the Atiak Sugar plantation in Pacilo Parish, Atiak Sub-county, in Amuru district.The operations follow the continued destruction of sugarcane at the plantation by stray cattle mostly belonging to migrant cattle keepers commonly known as Balaalo.Up to 400 acres of […]

CAPTION: Some of the charcoal impounded in Lira. LIRA – Major General Keith Katungi, commander of the 5 Division of the Uganda Peoples’ Defence Forces (UPDF), has issued a stern warning to charcoal traders defying the Presidential Executive Order on the ban of charcoal trade in northern Uganda.This caution came during a meeting held at the […]

CAPTION:  NSSF Managing Director Patrick Ayota. (File photo).   KAMPALA — The National Social Security Fund (NSSF), Uganda’s national savings scheme, has reached Shs20 trillion in Assets Under Management (AUM), one and a half years ahead of schedule, according to the Fund’s 10-year Strategic Plan. According to a press statement in 2015, the Fund launched […]

CAPTION: Airtel Uganda officials and Partners pose for a group photo during the Airtel Uganda Partners Breakfast Meeting. (Coursey photo). KAMPALA – Airtel Uganda, a leading 4G telecommunications network held its annual partners breakfast meeting at its Bugolobi offices bringing together over 13 major network partners to reaffirm their shared commitment to delivering exceptional telecommunication services […]

PARLIAMENT – The Ministry of Finance, Planning and Economic Development has one month to respond to the citizens’ outcry over the online money lenders said to be harassing people including top government officials.The Deputy Speaker, Thomas Tayebwa, who is also a victim of harassment wants the government to crack a whip on the operations of […]

CAPTION: Contraband cigarettes being distroyed in Luwero. By Our reporterLUWERO – The Uganda Revenue Authority (URA) has destroyed contraband cigarettes valued at sh1.6 billion that were seized from smugglers. The destruction took place on Wednesday at Luwero Industries Limited in Nakasongola District. According to a press statement by Robert Kalumba, Assistant Commissioner for Public and Corporate […]

CAPTION: Uganda Breweries Corporate Relations Director Sheila Sabune joins farmers in testing the new sorghum threshers. (Courtsey Photo). By our reporterLIRA – Sorghum farmers in the Lango sub-region have said that the use of Uganda Breweries threshers has helped them reduce post-harvest losses and improved sorghum productivity, and production.They said this during their interaction with a […]

CAPTION: A truck carrying sugarcane at Kinyara recently. Courtsey Photo) By Our reporterPARLIAMENT – The Leader of the Opposition, Hon. Joel Ssenyonyi demands that government intervenes and regulates sugarcane prices saying that the current price of Shs98,000 per ton is too low. “The economy is liberalised and the forces of demand and supply are at play but […]

CAPTION: CEO of Standard Chartered Bank Uganda, Sanjay Rughani (Courtsey Photo).   By Our reporter KAMPALA – Standard Chartered PLC (the Group) has announced that it is exploring the potential sales of its Wealth & Retail Banking (WRB) businesses in Uganda, Botswana, and Zambia. The Group will concentrate its resources in these markets on serving the […]

CAPTION: CEOs and Senior Management of various institutions during the  2024 CEO Apprenticeship Program (CAP) graduation at Four Points by Sheraton in Kampala. (Courtsey Photo)   By Our reporter KAMPALA – A cohort of executives celebrated their graduation from the CEO Apprenticeship Program (CAP), marking the completion of a transformative expedition that has reshaped how they […]

CAPTION: Hon. Ssenyonyi presents a copy of a newspaper with reports on the hacking of the BOU accounts. (Courtsey Photo). By Our ReporterPARLIAMENT – The Minister of State for Finance, Planning and Economic Development (General Duties), Hon. Henry Musasizi has told Parliament that investigations are underway following the alleged hacking of Bank of Uganda (BOU) systems […]

CAPTION: Minister Baryomunsi before parliament.By Our reporter,PARLIAMENT – The Minister for Information, Communication, Technology and National Guidance, Hon. Chris Baryomunsi has unveiled government plans to extend internet connectivity to all sub-counties through a loan acquired from the Exim Bank of China.Baryomunsi said that with the US$150 million, government will go beyond its ministries, departments, agencies […]

CAPTION: Teso residents listen to President Yoweri Museveni Wednesday November 20th while addressing the people of Teso during a public rally in Kaberamaido District. (PPU Photo) By Stephen Wandera OumaKABERAMAIDO – President Yoweri Kaguta Museveni has reiterated his call to the people of Teso sub region to embrace commercial agriculture with “ekibaro”, as one of the […]

CAPTION: Uganda’s Queen Elizabeth Park is home to many pods of hippo. (Courtsey Photo)By Our reporterKAMPALA – Deputy Speaker, Thomas Tayebwa has pledged enhanced government commitment to Uganda’s tourism sector vowing increased funding and prioritisation to transform it into a key economic driver. Speaking as the chief guest at the Ekkula Sustainable Tourism Awards 2024 held […]

CAPTION: Steven Kaboyo,(C), Czech Republic Consul to Uganda, Daniel Maiyeka,(front row 2nd L), Managing Director TotalEnergies Uganda, pose for a photo with other TotalEnergies staff during the launch of the rubia lubricant oils.(Courtsey Photo)   By Priscilla Najjuma KAMPALA – TotalEnergies Marketing Uganda has launched reformulated cutting-edge Rubia engine lubricant oils, aligning with Uganda’s revised […]

CAPTION: Tayebwa Speaking at the Association of Chartered Certified Accountants (ACCA) Uganda Members’ Convention 2024 at Munyonyo Commonwealth Resort on Wednesday,13 November 2024. By Our reporterMUNYONYO – The Deputy Speaker of Parliament, Thomas Tayebwa, has called on Uganda’s accounting professionals to lead the charge against corruption by upholding integrity and transparency in their financial practices.Speaking at […]

CAPTION: WSACCO’s Head of Human Resource and Administration, Lt Col Wesley Aine adress Junior Non-Commissioned Officers in Kiwatule.  By Our reporterKIWATULE – Wazalendo Savings and Credit Cooperative Society (WSACCO) recently welcomed 400 Junior Non-Commissioned Officers (JNCOs) for a study tour at its Kiwatule headquarters.These officers, currently enrolled in a four-month leadership course at Hima Training School […]

KAMPALA – The High Court in Kampala has quashed key findings and recommendations made by Parliament’s Select Committee on the National Social Security Fund (NSSF), among others the prosecution of the Fund’s Chief Finance Officer Stevens Mwanje.The Civil Division Judge Musa SSekaana in his October 31st 2024 decision nullified the March 9th 2023 recommendations by […]

Henry Musasizi, the Minister of State for Finance, Planning and Economic Development in charge of General Duties (with microphone) launches the “Tax Crimes and Proceeds Risk Assessment Report, 2024” at Kampala Sheraton Hotel on Oct. 24. COURTESY PHOTO/FINANCIAL INTELLIGENCE AUTHORITY.Looking to tough, new compliance, enforcementKAMPALA – Value Added Tax (VAT) fraud is the most prevalent tax […]

KAMPALA – Members of Parliament on the Finance Committee have called upon Ugandan manufacturers to adhere to the country’s taxation regime, particularly regarding Digital Tax Stamps (DTS). The call came during a recent meeting with representatives from the Private Sector Foundation Uganda (PSFU), who raised concerns about the impact of DTS on the manufacturing sector. […]

By Our reporterKAMPALA – The government is to make ten million new electricity connections through both grid and off-grid, to achieve universal access to electricity by 2030.Speaking at the Power Forum held on October 30, 2024, at Mestil Hotel in Kampala, the Ministry’s Permanent Secretary, Eng. Irene Pauline Bateebe emphasized the need for innovative approaches to […]

CAPTION: Centenary Bank’s Managing Director, Fabian Kasi, (2nd right) exchanges documents with the Regional Director Africa, Water.Org Francis Musinguzi, (2nd left) in Kampala October 30th 22024.   By Our reporter KAMPALA – Centenary Bank has entered into partnership with Water.org aimed at developing a water supply and sanitation (WASH) program for a wash loan product […]

CAPTION: Businessman Sudhir Ruparelia   By Our reporter The purpose of depositing the security of costs by Crane Bank and its shareholders was that in case they lost the ongoing case in London of about Shs825b, there would be a fallback. The High Court of Justice Business and Property of England and Wales King’s Bench […]

PARLIAMENT – The Leader of the Opposition (LOP), Hon. Joel Ssenyonyi has raised concerns over the government’s Shs723.4 billion investment in Dei BioPharma Ltd, a private pharmaceutical firm.Ssenyonyi who presented a report following an oversight visit to the firm, called for greater accountability and transparency regarding the use of taxpayers’ money in the pharmaceutical company, […]

By Our reporterKAMPALA – The Head of the State House Investors Protection Unit (SHIPU), Col. Edith Nakalema has urged miners to protect and promote the sector in order for the country’s economic growth, industrialization, job creation and increased foreign exchange. “Today’s meeting is a pivotal moment for Uganda’s mining sector. Together, we have the opportunity to […]

By Patra AmitoKAMPALA – Airtel Mobile Commerce Uganda Limited (AMCUL) has finalized the three-month nationwide rewards campaign, Vroomula Amajja, a transformative initiative designed to reward Airtel Money customers and agents while promoting the shift towards a cashless economy in Uganda.Launched in July, the Vroomula Amajja campaign was unveiled to appreciate Airtel customers’ loyalty and promote […]

By Our reporterKAMPALA – Financial institution managers have been advised to develop data management fame work policies to mitigate risk against losses to boost businesses. According to Mrs Solomy Nassejje Luyombo, General Manager of Human Resources, Centenary Bank, data management is now considered as an ‘oil’ to fuel company growth.“We collect a lot of information from our […]

By Our reporterPARLIAMENT – The Public Accounts Committee on Commissions, Statutory Authorities, and State Enterprises (PAC-COSASE) has raised concerns over the mismanagement of salary payrolls across various government ministries and departments.The queries were contained in a report presented to the House during a plenary session chaired by Speaker Among on Thursday, 17 October 2024.According to […]

By Our reporterPARLIAMENT – The Public Accounts Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) has expressed concerns about the growing competition faced by Uganda Posta Limited (Posta Uganda) from unlicensed courier companies.These concerns were raised during the debate on the Committee Report on the Report of the Auditor General on the Financial Statements […]

By Our reporter PARLIAMENT – Uganda’s coffee exports to the European Union (EU) will not be affected by the December 2024 deadline of the EU Deforestation-free Regulation (EUDR) policy, Minister of State for Finance, Planning and Economic Development (General Duties), Hon. Henry Musasizi has said. On 05 December 2022, the EU approved the EUDR policy […]

Text content

PARLIAMENT – The Uganda Revenue Authority (URA) registered a 13 percent growth in Value Added Tax (VAT) in the year ended 30 June 2023.This is contained in a report of the Public Accounts Committee on Commissions Statutory Authorities and State Enterprises (COSASE) which observed that the growth was largely driven by local production of goods […]

KAMPALA – Uganda Wildlife Authority has launched the Open Park Days initiative, set to take place on October 17th and 18th, 2024. The initiative was announced by UWA’s Director of Tourism and Business Development Mr. Stephen Masaba on behalf of the Executive Director on Monday, October 1st, 2024. The Open Park Days initiative offers all […]

Text content

By Our reporterKAMPALA – Uganda Money Lenders Association has embarked an operation to weed out unregistered money lenders they claim have tainted the business.The drive follows President Yoweri Museveni’ directive to the Attorney General to ensure that specific laws are introduced to criminalize the errant money lenders.  During his State of the Nation address and […]

ENTEBBE – President Yoweri Kaguta Museveni who is also Commander-in-Chief of the Uganda Peoples’ Defence Forces (UPDF), has advised retired generals to invest their retirement packages in lasting assets and resist the temptation to squander their hard-earned funds.” That retirement package is very good for you, do not gamble,” the President urged during a retirement […]

MBUYA – Maj Gen Bob Ogiki, Joint Staff Policy and Planning in the Uganda Peoples’ Defence Forces (UPDF), has hailed the UPDF legal team for its key contributions to the force.He singled out the teams’ development of the UPDF Establishment 2021, the UPDF Amendment Bill 2024, and establishment of Land Offices at the Division level. […]

PARLIAMENT – The Minister of State for Finance, Planning and Economic Development (General Duties), Hon. Henry Musasizi has clarified that the women’s project, Generating Growth Opportunities and Productivity for Women Enterprises (GROW) funds are loans and not grants.Musasizi said this while responding to a matter of national importance raised by Gulu City Woman Member of […]

PARLIAMENT – Energy and Mineral Development, Hon. Ruth Nankabirwa has urged Parliament to support more investment in last mile electricity connections to support Uganda’s value addition agenda.“Electricity is very critical and the limitations on distribution is a common phenomenon in the entire country, where we have the national grid passing through our constituencies but with […]

By Our reporterMBARARA – This was revealed today as His Excellency Olesegun Obasanjo, the former President of Nigeria paid a courtesy call on President Yoweri Kaguta Museveni.President Museveni also took H.E Obasanjo on a tour to Pearl Dairy Farms Limited in Mbarara City and later joined Kiruhura and Kazo farmers at Kaaro in Kiruhura District.H.E […]

By Our reporterLt Gen Kayanja Muhanga, Commander Land Force, has urged leaders of the Uganda Peoples’ Defence Forces (UPDF) and Wazalendo SACCO to protect the savings scheme from corruption following recent instances of fund mismanagement.Speaking at the conclusion of a two-day strategic retreat organised by Wazalendo’s Board of Directors, Lt Gen Kayanja highlighted the need […]

By Our reporterPARLIAMENT – The Speaker of Parliament, Anita Among, has hailed the Uganda Parliamentary Sacco for its continuous expansion following a Shs9.6 billion growth in 2024, which is a 15 percent increase from last year’s Shs8.3 billion. In a speech read on her behalf by the Minister of State for Trade, Industry and Cooperatives, Hon […]

Archbishop of the Church of Uganda[center] and members of Post Bank

PARLIAMENT – Legislators have rejected the Alcohol Control Bill, 2023 that sought to regulate the purchase, sell and consumption of alcohol.The private members Bill that was introduced for the first time by Tororo District Woman Representative, Hon. Sarah Opendi in November 2023 also aimed to regulate the time and premises where alcohol would be sold […]

BUIKWE – West International Holding (WIH) has embarked on construction of a  $200M cement factory in Njeru, Buikwe that is expected to bring down the price of Ugandan cement when it is completed in September 2025. The factory is the 2nd project after President Yoweri Museveni commissioned another plant in Moroto by the West International Holding […]

PARLIAMENT – The Uganda National Roads Authority will have to renegotiate a contract with Chongqing International Construction Corporation (CICO) for the reconstruction of Masaka-Mutukula Road and rehabilitation of several roads in Masaka District, Parliament has guided.The legislators want the China Export & Credit Insurance Corporation (Sinosure) insurance component worth Shs 38.86 billion embedded in an […]

By our reporterPARLIAMENT – The Ministry of Finance, Planning, and Economic Development is in the final stages of drafting a National Tax Policy to address some of the current economic challenges.The policy expected to become public in December, will provide a set of guidelines for the taxation of goods, services, and income as a vital […]

By our reporter PARLIAMENT – The Deputy Speaker, Thomas Tayebwa, has asked the Minister of Foreign Affairs, Jeje Odongo, to respond to allegations of the use of Uganda’s consulate in Dubai, United Arab Emirates (UAE) as a casino.  This follows media reports indicating that Uganda’s consulate building in Dubai, is being used as a covert […]

KAMPALA – The Ministry of Works and Transport has reduced the riding permit fees for cyclists. Boda Boda riders have in the past expressed concern about the exorbitant charges for acquiring the permits.The Police have on several times impounded motorcycles and arrested the riders for lack of a riding permit, and third pay insurance among […]

By Our reporterENTEBBE – President Yoweri Kaguta Museveni has met the leaders of the ghetto SACCOs in Kampala Metropolitan Area at State House Entebbe.The group included 100 ghetto youth leaders who are also the heads of the 12 ghetto SACCOs in Kampala, Wakiso and Mukono. The beneficiaries of the SACCOs are from; Rubaga Kakeeka Zone […]

Police warns striking Kampala traders By Our reporterKAMPALA Police has told striking traders to refrain from as authorities find solutions to their grievances.Traders against a proposed tax collection system have resumed their protests by shutting down their Kampala businesses from Wednesday July 31, 2024, unless President Museveni re-schedules a twice deferred meeting with the group […]

Clare Gatabi Tumwesigye, Head Marketing and Corporate Communications, Anthony Kituuka Managing Director, Elizabeth Wahito and Elliud Njogu from E & M Technologies pose a photo with ELP Scholars at Eureka Place Hotel in Ntinda.

By Our reporterKAMPALA – The National Resistance Movement (NRM) Secretary General Mr Richard Todwong has called for expanding regional markets to accommodate the increasing local production.“There has been increased production of goods among the people in the villages due to Emyooga and the Parish Development Model initiatives but limited markets and low prices remain the […]