The State Minister for Finance in charge of Planning, David Bahati has denied owning a company that benefitted from compensation over loss of business in South Sudan. Bahati was on Wednesday appearing before Parliament's Select Committee that is currently inquiring into a payment of 40 billion Shillings to 10
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More than 10,000 residents of Mwello parish in Mulanda Sub County in Tororo district are living in fear of eviction by Hima Cement Limited, URN reports. The affected residents from over 1500 households occupy eight villages including Pamaraka, Mairo and Agumiti among others. Hima acquired a prospective license
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Ugandan and Kenyan traders will be the biggest beneficiaries after their two countries yesterday signed a raft of agreements meant to ease trade, cement political ties and improve their social/cultural connections. The colourful signing ceremony, conducted at the Kenyan coastal city of Mombasa, was witnessed by President Yoweri Museveni and his
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Stanbic Bank has released its full year financial results for 2018 indicating strong and solid performance. The bank recorded Shs215bn net profit in 2018, up from Shs200bn in 2017. This represents a growth of 7.3%. Announcing the results at Serena Hotel, Kampala on Thursday morning, Patrick Mweheire (in featured photo),
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dfcu bank recorded Shs61.7bn net profit in 2018, down from Shs127.6bn profit posted in 2017, Business Focus reports. According to the bank’s financial statements for the year ended December 2018 obtained by this Business website, the reduction in profit is largely attributed to slowed growth in some of the key
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Africa’s needs to build more resilient economies if it is to have the resources to meet its development goals and targets over the next few decades. This requires the continent to prioritise domestic revenuemobilisation efforts and triple current rates of growth. These were some of the takeaways from the Economic
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Power distributer, Umeme Ltd recorded Shs133 billion in profit after tax in 2018, up from Shs36 billion in 2017. The company’s energy losses reduced to 16.6% in 2018 compared to 17.2% for 2017. Whereas Umeme’s electricity sales increased by 13% to Shs1.6 trillion in the year 2018, net revenues (after
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Uganda’s Deputy Speaker of Parliament Jacob Oulanyah has wondered why Ugandan tax payers should incur the cost of looking after refugees in the country yet it is the mandate of United National High Commission for Refugees (UNHCR) to look after them. He said the move has exerted financial burden to
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Uganda's Works minister, Monica Azuba Ntege has trashed reports that government owns less than 1% of shares in the national carrier. Azuba revealed this on Wednesday while appearing before parliament saying, the Uganda government through the Ministry of finance, and Ministry of works, fully owns all the 2 million shares
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Whereas most of Ugandans take part in agriculture as a source of employment opportunity and livelihood, the activity is hindered by various risks and uncertainties drawing back its productivity. Being an open-air business, agriculture is highly affected by weather conditions such as prolonged drought, heavy rainfall, and rainstorms among others.
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