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Business
We bring you the latest business news from Uganda, East Africa & around the world. Get insights on market trends, company updates, financial developments, and economic analysis
186,000 Companies Deregistered For Failing To Submit Annual Returns
In a sweeping move, the Uganda Registration Service Bureau (URSB) has taken action to deregister a staggering 186,000 companies due to their failure to submit annual returns over a five-year period.
This decisive action aligns with…
Central Bank Implements Interest Rate Reduction in Bid to Boost Economy
The Bank of Uganda has taken a significant step by lowering the Central Bank Rate (CBR), signaling its intent to stimulate economic activity.
Deputy Governor Michael Atingi-Ego offered insights into this development. He attributed the…
“Uganda’s July Inflation Eases to 3.9%: Food Prices Decline
According to a report released by the Uganda Bureau of Statistics (UBOS), there has been an actual drop in the prices of some items since March 2023. The items that have registered a drop in prices include cassava, Irish potatoes, matoke,…
President Museveni Calls Out Western Investors On Importing Raw Materials
President Yoweri Kaguta Museveni has called urged Western investors to stop importing raw materials from Africa and fully support the countries by buying finished products.
While meeting the Ugandan Ambassador to Belgium Mirjam Blaak,…
French court rejects lawsuit brought against TotalEnergies on Uganda pipeline project
A Paris civil court on Tuesday said a lawsuit brought against French oil major TotalEnergiesTTEF.PA by some campaign groups over its controversial oil projects in Uganda and Tanzania was inadmissible.
The case had been brought by six…
NSSF Bosses Pinned for Irregular Loan Deals to Various Entities
It was illegal for the National Social Security Fund (NSSF) to give out loans to different entities, the Uganda Retirement Benefits Regulatory Authority (URBRA) has said.
Established under the URBRA Act, 2011, URBRA is obligated to…
Government confirms end of Umeme contract
Electricity distributor, Umeme’s contract will run its full course but will not be renewed by government in 2025. Fears that the Umeme concession would be terminated before 2025 have therefore been put to rest.
Government is going ahead…
Business Owners at Makerere University Petition Court to Terminate Eviction Order
Business operators under their umbrella body, the Makerere University Business Owners Association (MUBOA),have petitioned the High Court over their eviction from the premises.
The vendors were kicked out of the University on July 1, 2022…
Uber sued by 550 women over sexual assault claims
The filing includes allegations women passengers "were kidnapped, sexually assaulted, sexually battered, raped, falsely imprisoned, stalked, harassed, or otherwise attacked by Uber drivers".
MTN Replaces Van Helleputte with Sylvia Mulinge as CEO Uganda
Effective October 01, 2022, Slyvia Mulinge Wairimu will serve as the new Chief Executive Officer, CEO for MTN Uganda.
Wairimu, currently the head of consumer business at Safaricom Kenya replaces Wim Vanhelleputte who leaves MTN after who…