By CPA Silajji Kanyesigye Baguma As we navigate through the complexities of economic challenges, one significant concern emerges: the looming threat of escalating costs driven by expected fuel tax hikes. The proposed fuel tax hike has sparked significant concerns, particularly from a business perspective. Production costs are likely to surge
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Absa Bank Uganda officials in a group photo after announcing the financial results for 2023 Absa Bank Uganda has today reported a growth in revenue by UGX64 billion, amounting to a 15.6% growth from the previous year and resulting in a profit after tax of UGX146 billion, according to financial
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The program will train an inaugural cohort of 291 enterprises across the country on management best practices, debt management, good governance, record keeping, and financial management among others. Uganda Development Bank (UDB), the country’s national Development Finance Institution, has launched the Incubator Program under Enterprise Development Product (EDP). The program
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The Demand and Supply of Credit fell in the 3 months to Feb 2024 (DD fell to UGX 5.12 tn from UGX 6.21 tn and SS fell to UGX 3.22tn from UGX 3.66 tn in the previous quarter), Bank of Uganda’s Monetary Policy Report for April 2024, indicates. “PSC (Private Sector Credit) growth net of
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The Ministry of Information, Communications Technology, and National Guidance, in collaboration with the ICT Association of Uganda (ICTAU), will on Wednesday, April 24, 2024, host the Intellectual Property (IP) Conference. The IP Conference, which will be held at the Four Points by Sheraton in Kampala, is anticipated to provide
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Uganda Breweries Managing Director Andrew Kilonzo before Parliament’s Finance Planning and Economic Development Committee. The new tax proposals in the Excise Duty (Amendment) Bill 2024 once passed by Parliament, would make alcoholic beverages unaffordable to consumers, resulting in reduced volume sales, leading to a decline in annual tax revenues to
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The coffee traceability system will see all coffee farmers and players registered/Business Focus photo Parliament has asked Government to provide Shs32.5Bn to Uganda Coffee Development Authority (UCDA) to establish a coffee traceability system that will see all coffee farmers and players in the coffee sector registered. This is aimed at ensuring that Uganda
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Barbara Asiimwe, Senior Manager - Salaried, at dfcu Bank We are four months into a new year and many of us are still at the initial stages of our yearly resolutions which we set in the hopes of improving our lives. While aspirations vary from person to person, achieving financial
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L-R: Kazeem Tewogbade, Co-Founder of BlueChip Technologies, Chris Baryomunsi from the Ministry of ICT and National Guidance and Soyombo Olumide- Co- Founder, Blue Chip Global technologies during the official launch of BlueChip Technology in Uganda. Today marks a significant milestone for BlueChip Technologies, an African tech giant specialized in Data
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Minister Ruth Nankabirwa (3rd Right) commissioning the biomass plant as UBL officials look on Uganda Breweries Limited (UBL) proudly announces the commissioning of its state-of-the-art UGX 37 billion biomass plant, marking a significant milestone in the organization’s commitment to sustainability while demonstrating dedication to reducing its carbon footprint. The facility represents a substantial investment by
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