Category: Business

Govt opens up three new areas for oil exploration

Govt opens up three new areas for oil exploration

The Ministry of Energy says opening up new areas will, among others, contribute to the sustainability of oil production. The Ministry of Energy and Mineral Development has opened up three new areas or frontier basins for petroleum activities spanning 17,244 square kilometres across the c

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Uganda faces setback in Aids fight with 38,000 new HIV cases in 2023

Uganda faces setback in Aids fight with 38,000 new HIV cases in 2023

The Uganda Aids Commission (UAC) has raised concerns about the high number of new HIV infections registered in the country annually, which may hinder Uganda’s goal to end Aids by 2030. Dr Vincent Bagambe, the director of planning and strategic information at UAC, said although new infe

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To cap or not to cap interest rates

To cap or not to cap interest rates

The Parliament has passed a law mandating the Minister of Finance to prescribe a maximum interest rate that money lenders may charge their borrowers. Not surprisingly, the moneylenders’ association has “rejected” the new law, arguing that the government has no right to control what doe

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Tycoon Rajni Tailor faces jail over Shs148m rent arrears

Tycoon Rajni Tailor faces jail over Shs148m rent arrears

Rajini Tailor, a renowned businessman and former Buganda Kingdom minister, has been embroiled in a debt dispute with the Muljibhai Madhvani Foundation, resulting in his recent detention at Luzira Prison. The dispute centres on unpaid rent arrears amounting to approximately Shs148 million

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URA, BAT move to tighten noose against contraband boosts DTS

URA, BAT move to tighten noose against contraband boosts DTS

The British American Tobacco team led by Chris Achola, Cluster Head BAT East and Southern Africa met with URA to identify ways on curbing illicit trade in cigarettes in the East African region. During the meeting held at URA headquarters, Nakawa BAT proposed different ways through which

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Absa in push to ease access to electric motorcycles

Absa in push to ease access to electric motorcycles

Financial technology company, Mogo, has said it has obtained a loan facility from Absa to ease access to electric motorbikes. The company, which indicated that it had previously benefited from Absa’s financing at the group level, said the first tranche of Shs5b had been disbursed.

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‘We’re aware the boda market is built on trust’

‘We’re aware the boda market is built on trust’

Imagine you’re running an asset financing business in Europe and think, “Why not give East Africa a shot?” So you do the research, find the market, and discover real potential.  That’s how Mogo Uganda, an asset-financing tech company, landed in Kampala.  The

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Govt urges NGOs against foreign donor funding

Govt urges NGOs against foreign donor funding

The Ministry of Internal Affairs has warned Non-Governmental Organizations (NGOs) to desist from taking up foreign donor funds with stringent conditions ahead of the 2026 general elections. According to the ministry, several NGOs ceased operations in Uganda after the heated 2021 election

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World investor week: Reflecting on financial fitness and future planning

World investor week: Reflecting on financial fitness and future planning

The World Investor Week 2024 is an annual week that allows us to reflect on the past year's investments, assess our progress toward future goals, and fine-tune retirement plans. The journey to financial security is not easy and often requires lifestyle adjustments, such as swapping luxu

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Farmers’ body boosts capacity of women in rural Uganda

Farmers’ body boosts capacity of women in rural Uganda

Most rural women in Uganda are engaged in agricultural activities, contributing 88 percent of agricultural labour force, an activity that contributes to 76 percent of Uganda's economy. Women's traditional roles in agriculture are still influenced by their reproductive roles therefore, ta

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