Bankers protest proposed ATM cash tax
Commercial banks have objected to the government proposal to impose a 0.5% levy on all cash withdrawals made through ATMs, saying the move would be counterproductive.
Latest news
The newest business, economic and financial stories from Uganda, East Africa and Africa.
EU, Denmark offer UGX66 bn to Ugandan farmers
The European Union (EU) and Denmark have announced funding amounting to more than UGX66 billion in a bid to boost agricultural productivity and help Ugandan farmers to…
I&M Bank partners with Nnaabagereka for Queen’s Ball
I&M Bank Uganda has partnered with the Nnaabagereka Fund to organise the first Queen’s Ball, aimed at raising funds to support women, youth, and children with mental…
Mukene, fuel top April inflation drivers
The rising prices of fish and fuel were the main drivers of annual inflation as measured by the Consumer Price Index in April, according to the Uganda Bureau of…
NCBA Bank buoyed by UGX27 bn net profit
Corporate banker, NCBA Bank Uganda has announced its financial results for the fiscal year 2023, showcasing robust growth and profitability driven by strategic…
Physical planners’ body warns on quacks as new Council is elected
Members of the Society of Professional Physical Planners of Uganda have elected new leaders as the government moves in to crackdown on imposters in the physical planning…
Coffee export volumes show slump in March
In comparison to the previous month, Uganda’s coffee exports recorded a significant decrease in March 2024, according to the Uganda Coffee Development Authority report.
New UDB incubator plan targets 290 entrepreneurs
The Uganda Development Bank, Uganda’s national development finance institution, has announced the launch of an incubator programme designed to prepare hundreds of young…
Coffee exports anxiety after UGX32 bn budget cut
The Uganda Coffee Development Authority wants Parliament to intervene following the Government’s decision not to provide the UGX32.5 billion required for the…
UBL sets up UGX20 billion cleaning facility
Uganda Breweries Limited, the maker of Tusker and Guinness, has commissioned a state-of-the-art effluent treatment plant, which officials said marks a significant…
Inflation: Bank of Uganda raises CBR again
For the second month in a row, the Bank of Uganda has raised its key rate, the central bank rate (CBR) in a bold move to combat inflation.
URA tasked to sensitise traders on how Electronic Fiscal Receipting and Invoicing Solution (EFRIS) works to avoid demonstrations.
In January 2021, URA implemented EFRIS to tackle tax administration issues associated with business transactions and receipt issuance.
Will new guidelines mop up online lending mess?
Moses Nkonge desperately needed cash to put windows and doors in his family house having got fed up of renting. A friend suggested that he gets a loan from an online…
Mind standards, exporters told as AFTA takes shape
Uganda’s micro, small and medium enterprises (MSMEs) have been urged to ensure high quality standards if they are to benefit from the lucrative African Continent Free…
Airtel Uganda boosts UCC fund with UGX34.8 billion
Airtel Uganda has handed over a cheque worth UGX34.8 billion to the Uganda Communications Commission aimed at supporting the establishment of better communication…
Optimism as tourism earnings hit $1 bn mark
Uganda’s post-pandemic tourism revenues topped UGX3.82 trillion (USD1 billion) in 2023, painting a promising picture for Uganda’s economic post-Covid recovery, according…
Will new online lending guidelines foster responsible borrowing?
Last month, the Uganda Microfinance Regulatory Authority (UMRA) introduced digital lending guidelines tailored for microfinance institutions (MFIs) and online lenders in…
Young golfers shine at NCBA Golf Open
Junior golfers from five different countries have demonstrated their talent and passion for the sport at the NCBA Uganda Golf Open 2024, hosted at the Lake Victoria…