2017 not rosy for mobile cash

Growth of mobile payments slowing down in Kenya

Last year was not so rosy for mobile money platforms. The growth of mobile money payments declined considerably, raising questions about the health of the economy. Latest Central Bank of Kenya data shows that even as mobile providers rushed to launch new mobile money products, growth of mobile payments slowed from 19 per cent in […]

Uganda: Drought drives up milk prices

Since November last year, most of the districts in the Rwenzori sub-region have been experiencing drought and this has affected milk production. As a result, milk prices have soared, especially in Fort Portal town. Farmers now move long distances with their animals in search of pastures and water due to their (farmers’) failure to adapt […]

Uganda: URA to Collect $280m From Cargo Clearing Programme

Without breaking a sweat, the customs department at Uganda Revenue Authority (URA) is guaranteed of slightly more than a trillion shillings ($280m) in revenue from companies it has enrolled in the Authorised Economic Operator (AEO) programme. The AEO is generally a trade facilitation initiative which the tax body uses to ease trade by simplifying and […]

Uganda's Oil Sector Is On the Right Track'

Norway happy with Uganda’s progress in the Oil Sector

Interview between Susan Eckey, Norway’s ambassador to Uganda and The Independent’s Ronald Musoke on the growing bilateral relations between the two countries. Tell us about your impressions of Uganda since you arrived in 2015? Uganda is my first posting as a bilateral ambassador. I am a career diplomat and I started my foreign service in […]

Citi analysts project EABL income growth to slow down

CitiBank analysts project EABL income growth to slow down

Citi analysts indicate the company, which saw its net profit fall by 20.6 per cent in its latest financial year report, is facing challenges ranging from an excise tax increase to high debt levels. The investment bank notes that EABL has significantly underperformed large cap peers in recent months. The analysts said the company’s share […]

Uganda: Major Restructuring at Central Bank linked to major bank collapse

On Wednesday, Uganda central bank Governor Emmanuel Tumusiime-Mutebile announced major changes within the top structures of the bank. He retired Justine Bagyenda, the long serving executive director in charge of supervision, five months before her retirement, and reshuffled 24 members of staff. A statement from Bank of Uganda (BoU) said Ms Bagyenda — who was […]

Umeme wants power tariffs increased

Umeme wants power tariffs increased by 33% for poorest customers

Power utility firm Umeme wants its lifeline tariff increased from the current Shs 150 to Shs 200. The lifeline tariff is an affirmative tariff aimed at enabling those at the base of the consumption pyramid to have basic power uses like lighting a few bulbs and ironing a few clothes. The Electricity Regulatory Authority (ERA) […]

BAT wins first round of tax battle with Uganda as East African Court of Justice slaps down taxes on Kenyan imported cigarettes

Cigarette maker British American Tobacco has won the first round in what promises to be a bruising tax battle against the Ugandan government. The East African Court of Justice (EACJ) has issued an interim order stopping the Uganda Revenue Authority (URA) from imposing excise duties on BAT cigarette imports from Kenya. The company in August […]

Kenyans own over 50% of USE’s capitalization

Kenyans own over 50% of shares on Uganda Stock Exchange, where are the local investors?

National Social Security Fund of Uganda has the most influence in the counters closely followed by Aga Khan Fund for Economic Development. Contrary, the top three firms are Ugandan based firms. New Vision Limited, National Insurance Corporation, and Uganda Clays Limited lead the charts respectively. These might not have the highest market caps but these […]

Kenya Airways offers 14 hours direct flight from Nairobi to New York

Kenya Airways will offer the fastest connection from East Africa to the USA, with a 15-hour flight westbound and 14 hours eastbound. This was revealed yesterday when the national carrier launched bookings for the inaugural flight from Nairobi to John F. Kennedy International Airport, New York in USA slated for October 28, 2018. Economy class […]