Category: Business

KRA playing catch-up ahead of 2019/2020 Budget reading

NAIROBI, Kenya, Jun 11- Cabinet Secretary Treasury Henry Rotich will present the 2019/2020 budget beginning July to the country on Thursday at 3 pm. Education, Energy, Infrastructure and Information, Communication and Technology, Public Administration and International Relations, Governance, Justice, Law, and Order and National Security are some of the sectors predicted to receive large pieces […]

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KQ shareholders re-appoint Michael Joseph as Board Chair

NAIROBI, Kenya, June 11- Kenya Airways shareholders have re-elected Michael Joseph as the Board Chairman for a second term with a mandate to steer the airline’s turnaround initiatives geared towards the continued improvement of the airline’s financial performance. Michael Joseph has served as chairman of the board since October 2016. During this period, the board […]

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Gulu district fetches Shs 600m from illegal charcoal trade

Gulu district has realized over Shs 600 million in fines and penalties levied against illegal charcoal and logging business. The district forest officer, James Ocaka says that the money was raised in the first quarter of the financial year 2018/2019. The district has been charging between Shs 10,000 and Shs 20,000 on each bag of […]

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John Deere’s technology set to revolutionalize Africa’s Agriculture

John Deere, an American Corporation that manufactures agricultural, construction, and forestry machinery will tomorrow announce major steps that they are taking to change Uganda and Africa’s agricultural sector in 2019.

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Diamond Trust Bank profit growth of 22% could be an indicator of a recovering economy

Diamond Trust Bank Uganda has registered a 22 percent growth in its profits before tax in 2018 compared to the previous year. According to the audited results released last week, the bank’s profits before tax in the last financial year grew to Ugx18.45 Billion compared to Ugx15.12 the previous year. Industry watchers say the bank’s […]

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President Museveni commissions Nile plywood company

Following the increased rate of unemployment in the country, President Museveni today commissioned the Nile Plywood Company in Nakansogola district. The company which produces furniture, plywood and medium density fireboards will employ more than 1,000 workers along its value chain. In his maiden speech, the president commended the sorrounding people for the support rendered to […]

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Kyambogo ICT boss Dr. Okuonzi on list to guide Uganda into industrial revolution

In a bid for technological advancements in Uganda, President Museveni on Monday 08 April 2019 inaugurated the National Task Force that will guide the country on its journey into the fourth industrial revolution. Among the members appointed on the National Task Force by President Museveni is the famous Kyambogo University ICT boss, Dr John Okuonzi. […]

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Uganda to get 16 million Euro support to boost her economy

The government of Uganda is set to get 16 million Euro support from Hungary in a joint bilateral cooperation engagement signed last year covering areas of Trade, refugees and water sector, Agriculture,Education, Security and tourism. According to the visiting Hungarian Minister for Foreign Affairs and Trade Peter Szijjarto, Hungary has designated Uganda as a strategic […]

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Make a condusive environment that encourages local investment, Kadaga calls upon government

While at the Buy Uganda Build Uganda (BUBU) Expo in Kololo, earlier today, the speaker urged Government to make condusive environment that encourages local investment. The speaker added that Uganda has the required raw materials for the manufacture of different products but costs are at times discouraging. “I met a girl in the last two […]

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Soroti fruit factory to be launched this year, Capt Mukula calls for more industries

The NRM Vice chairman Eastern region Hon. Captain Mike Mukula is satisfied with the progress of works at Soroti fruit factory that is currently undergoing a pre-commissioning exercise test where the machines are being run to see to it whether the machines can run according to the promised capacity. The chairman called upon the government […]

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