Uganda Revenue Authority (URA) has vowed not to allow Uganda become a mafia economy by crushing the sophisticated smugglers. The remarks were made by Dicksons C Kateshumbwa, the Commissioner Customs at URA during meeting with digital media editors and influencers at the tax body’s head offices in Nakawa on Friday.
Read More
Fortebet, Uganda’s biggest betting company has paid out to the winner from Arua Shs49m. On Thursday morning, the winner, Kasul Acidri came to Fortebet head offices in Kololo to pick his money. As usual, whenever a Fortebet customer wins, he is paid out without any delays, and this is what
Read More
2017 was a tough year for Uganda’s banking sector just like the past five years. However, the results commercial banks have been releasing in the past two months indicate that the sector is slowly recovering from the 2011 crisis when inflation and interest rates hit 30%, a thing that resulted
Read More
Banks have in the last two months been releasing their financial results for the year ending December 31, 2017. The results obtained and analysed by Business Focus indicate that the banking sector is yet to fully recover from the 2011 crisis that saw inflation cross the 30% mark, a thing
Read More
Uganda Revenue Authority (URA)’s Intelligence team at Busia Customs-Eastern Uganda over the weekend nabbed smugglers using the recently-deployed mobile scanners. URA says the smugglers had undeclared the goods, but they were detected using the mobile scanners. Ian Rumanyika, the Acting Assistant Commissioner-Public & Corporate Affairs at URA says the goods
Read More
President Yoweri Museveni’s promise to provide hand hoes to farmers across the country during campaigns in the run up to the 2016 presidential elections is set to see light of the day after Parliament proposed that they be procured in the 2018/19 Financial Year. According to the Report of the
Read More
India and Uganda top the list of the fastest growing economies up to 2026, predicted at 7.9 and 7.5 percent annually, respectively, a latest report by Center for International Development at Harvard University (CID) reveals. The report was released on May 3, 2018. After a decade of growth driven by
Read More
Poor Africans continue to have bigger families compared to their rich counterparts. The State of Uganda Population Report 2017 indicates that Ugandan women have a high fertility rate, with each woman producing on average five children in their lifetime. This, the report notes, translates into a high dependency syndrome that
Read More
Guaranty Trust Bank Uganda (GTBank) Ltd has appointed Lekan Sanusi as its new Managing Director. His tenure took effect on April 23, 2018. Sanusi replaced Olufemi Omotoso, who has since returned to the bank's head offices in Nigeria. Sources say Omotoso's contract expired last year and declined to renew it. [caption
Read More
Stanbic Bank’s Purchase Managers Index (PMI) posted 51.8 in April, down from 53.2 in March signaling a further improvement in the health of the Ugandan private sector. However, the pace of growth fell below the average observed across the series so far (since June 2016). According to the PMI
Read More
