The Bank of Uganda Deputy Governor, Dr. Louis Kasekende has revealed why Ugandan commercial banks have low appetite to lend to majority Ugandans (Small and Medium Enterprises) is low. “…the informal small and micro enterprises pose very different challenges for the banks. Their revenues are volatile and their long term
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A top insurance firm in Uganda is in trouble after senior agents started quitting and others stealing customers’ premiums (money paid by policy holders), Business Focus exclusively reports. ICEA (Insurance Company of East Africa) Life Assurance is the company under fire. A source privy to the rot at ICEA Life
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Bank of Uganda (BoU) Governor Emmanuel Tumusiime-Mutebile has trashed and rejected the Inspector General of Government (IGG)’s directive to the Board of Directors of the Central Bank not to endorse recent staff appointments and transfers. Lady Justice Irene Mulyagonja Kakooza, the IGG had in letters dated February 23, 2018 and
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About 60 District and Municipal Accounting Officers will soon be jobless after they failed to submit critical budget documents to the Ministry of Finance. In a letter dated March16, 2018 obtained by Business Focus, Keith Muhakanizi, the Secretary to the Treasury requests the Permanent Secretary of Local Government to exclude
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The cost of doing business in Uganda remains high although it is slowly declining. The World Bank’s annual ‘Doing Business report 2018: Reforming to Create Jobs’ released late last year indicates that Uganda dropped seven places to 122 in the rankings out of 190 economies, compared to 115 out of
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Uganda’s richest man Sudhir Ruparelia is set to expand his investments in the growth and exportation of flowers and vegetables. Sources told Business Focus that on Saturday Sudhir visited Baale village in Kayunga District where he is set to “acquire about 9 square miles of land” to expand his floriculture
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The Minister of Relief, Disaster Preparedness and Refugees Eng. Hilary Onek has revealed that Uganda is receiving a large influx of refugees mainly from the Democratic Republic of Congo. “We are receiving approximately 3450 refugees daily at our reception centers through Kisoro, Ntoroko, Hoima and Zombo districts,” Onek said, adding:
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Financial inclusion can provide a route for citizens to manage their finances better. However, only one in six citizens (17%) has a bank account, either alone or jointly with another person, a new report has revealed. The report adds that men (22%) are nearly twice as likely as women (12%)
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Huawei, one of the leading global ICT solutions providers is the corporate sponsor of the ongoing World Customs Organization’s 4th Authorized Economic Operator (‘AEO’) global conference hosted by Uganda Revenue Authority in Kampala. The 4th WCO global AEO conference is being hosted at Kampala Serena Hotel from 14th to the
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KCB Bank Uganda has sponsored local entrepreneurs for an international trip to Germany and Turkey in an effort to support growth of the SME sector in the country. The bank will be sending 30 of its business club members for a 10-day business trip that will see the SMEs network
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