Category: Business

Govt sets new date for Karuma dam commissioning

KARUMA – In 2013, the minister of Energy and Mineral Development, Ms. Irene Muloni said Karuma dam was on track and was expected to be commissioned in 2018. The story stayed the same in 2015, all through the years leading to 2018. But in 2018, the narrative transitioned to 2019. The Minister on August 23, […]

5,972 total views, 1 views today

British Airways hacked, over 370,000 customers’ payments data stolen

London (Cyclone Times) – British airways faces it rough, apologizes after realizing on Wednesday that over 380,000 customers’ payments data had been compromised in a period of two weeks. It is alleged that the attack, which caused credit card details of hundreds of thousands of its customers being stolen penetrated through BA’s website ( and […]

7,529 total views, 1 views today

SafeBoda bows to pressure, apologizes for cheating customers, refunds money

Safeboda, a motorbike hailing service application has moved to apologize to its customers following social media outburst that the company was cheating its users through sophisticated software. We have fixed the overcharge app bug! Dear Customers, over the last couple of weeks, you may have experienced a trip overcharge on the app. We are happy […]

7,378 total views, 1 views today

Kenyan parliament vote to suspend 16% VAT on fuel

Parliament on Wednesday afternoon elected to suspend by two more years the introduction of 16% tax on petroleum products that was to come into effect on Saturday September 1, 2018. The National Assembly has voted to suspend the introduction of 16% petroleum levy for two years. The amendment brought on the finance bill by minority […]

10,231 total views, 6 views today

Museveni launches new Simba cement plant in Tororo

President Yoweri Museveni has Tuesday commissioned Simba Cement factory, a new plant that is based in Mukujju Sub-County, Tororo District. Speaking during at the launch,Mr Museveni argued Ugandans to develop an entrepreneurial mindset, adding that with the abundant natural resources that Uganda is endowed with, there is tremendous potential for development. “Uganda is one of […]

12,433 total views, 13 views today

Dfcu posts profit drop of Shs72b in half year results

Dfcu Bank has registered a profit drop of Shs72b for the year ended June 30. In notes published along the financial results, the dfcu said the bank’s performance had normalised following the integration of the acquired assets of Crane Bank. The bank registered a profit of Shs41.3b in the year ended June 30 compared to […]

6,739 total views, 1 views today

Businesses warned on cyber fraud dangers

Due to the rising number of cyber-attacks in Uganda, Clarke International University (CIU) on Saturday held a Cyber Security Information session which was geared towards motivating practitioners to take up programs in cyber security, to address threats in businesses The session came days after the Governor Bank of Uganda (BOU), Prof. Emmanuel Tumusiime –Mutebile advised […]

8,449 total views, 1 views today

Tumwebaze explains why government made u-turn on airtime cards

Government has bowed to pressure from parliament and lifted the ban on Airtime scratch cards. The decision to lift the ban was reached in a meeting in the Conference hall of parliament involving the speaker, Rebecca Kadaga, telecom companies, members of parliament, the Information Communication and Technology-ICT Minister, Frank Tumwebaze and Uganda Communications Commission officials. We […]

5,380 total views, 4 views today

Museveni orders refund of 1% tax deduction on mobile money transaction amid countrywide protest

President Yoweri Museveni has Thursday July 12, ordered  that the ones whose deductions had been made on the basis of 1% should have their money refunded. Replying various comments on his  social media, the president said that due to the newness of the measure, the figure of 1% came up by mistake. “I signed the […]

11,630 total views, 6 views today

Uganda to review mobile money and social media taxes: prime minister

Uganda’s prime minister, Ruhakana Rugunda has announced that government will review the controversial social media and mobile money taxes, in the wake of a public outcry. The parliament last month passed the Excise Duty (Amendment) Bill 2018 that introduced a levy of 200 shillings ($0.05) per day for access to a range of online services. […]

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