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Business & Economics

Zimbabwe’s economic situation very alarming – IMF

Zimbabwe’s economic situation very alarming – IMF

Zimbabwe must act quickly to dig its economy out of a hole and access international financial aid, the International Monetary Fund has warned. Government spending and foreign debt are too high and it needs structural reform, Zimbabwe mission chief Gene Leon said.The once-thriving economy is now seen as a regional basket case. “The economic situation […]

BOU officials grilled over hiring external lawyers to battle court cases

BOU officials grilled over hiring external lawyers to battle court cases

The Bank of Uganda officials led by the deputy governor bank of Uganda Louis Kasekende were grilled before the parliamentary committee on commissions, statutory Authorities and state enterprises over hiring external lawyers to battle court cases which are against central bank. The committee chaired by the MP for Bugweri county Abdul Katuntu had summoned the […]

Government urged to intervene in reducing financial exclusion

Government urged to intervene in reducing financial exclusion

Financial Sector Deepening Uganda (FSDU) has asked government to have a strategic approach of increasing mobile phones hand sets to the poor to facilitate the financial inclusion strategy that seeks to reduce financial exclusion from 15 to 5% by 2022. This call was made by Joseph Lutwama, the policy, legal and regulatory specialist at FSDU […]

Trade Ministry signs new MOU

Trade Ministry signs new MOU

The Ministry of Trade, Industry and Cooperatives and Financial Sector Deepening Uganda have signed a Memorandum of understanding to facilitate the growth of the Micro Small and Medium Enterprise (MSME).  This Memorandum of Understanding aims to strengthen the Micro Small and Medium Enterprise (MSME) sector in Uganda by collaborating with the Ministry to increase capacity […]

MTN to switchoff subscribers before official August 30th deadline as 700,000 simcards remain unregistered

MTN to switchoff subscribers before official August 30th deadline as 700,000 simcards remain unregistered

MTN has revealed that it will switch off unregistered customers even before the government’s deadline of 30th August 2017. The announcement comes as the deadline for simcard registration extended by government in April this year clocks down to only 9 days. This was revealed by the MTN chief executive officer, Mr.Wim Vanhelleputte, while appearing before […]

Standard Chartered Bank re-launches its services

Standard Chartered Bank re-launches its services

Standard Chartered Bank has  re-launched some of its services to enable its clients access financial solutions with ease. Some of the services re-launched include visa infinite debit card usage and advising the customers on their wealth and property management. The Head of Retail Banking, Israel Arinaitwe, says that  the visa infinite debit card offers complementary access to over […]

Micro-finance minister in campaign to rid SACCOS of cheats

Micro-finance minister in campaign to rid SACCOS of cheats

The State Minister for Micro Finance, Haruna Kasolo Kyeyune has launched an operation in Kampala and Wakiso districts to search for all those managers who keep on disappearing with the savings of the members of Savings and Credit Cooperative Societies (SACCOS) groups. While meeting members of Nakasero eyeterekera cyclists and vendors SACCO at Nakasero market […]

Africa’s economic growth to fall 1.6% in 2016 – World Bank

Africa’s economic growth to fall 1.6% in 2016 – World Bank

In their October 2016 report: Africa’s pulse, An analysis of issues shaping Africa’s economic future, the World Bank Group notes that after slowing to 3 percent in 2015, economic growth in Sub-Saharan Africa is projected to fall to 1.6 percent in 2016. That is half of what it was last year and the lowest level […]

Chinese have not received sand mining permits: NEMA

Chinese have not received sand mining permits: NEMA

The National Environment Management Authority (NEMA) says that it has never given sand mining permits to Chinese to operate in Lwera wetlands in Kalungu district. This follows members of parliament recently protesting against the mining of sand in Lwera wetlands and in Lake Victoria by Chinese. The Executive Director of National Environment Management Authority, Tom Okrot, […]

Bugishu asks UMEME to lower tariffs

Bugishu asks UMEME to lower tariffs

Legislators from Bugishu region have asked Umeme to lower the cost of electricity to make it affordable, to the ordinary Ugandans. The lawmakers made the appeal  during a consultative meeting with Umeme officials on how they can assist the company on reducing power theft in the region. According to Umeme Bugishu regional manager Trevol Higenyi […]

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