Figures from the Uganda Motor Industry Association (UMIA), show that
sales of new vehicles increased by 3% in the last eight months. An estimated 1,785 units were sold as of August, compared to 1,618 units sold in a similar period last year. The UMIA data also corresponds with that of Uganda
Kampala City Traders’ Association (KACITA) spokesperson
Issa Sekitto says they are upset that the URA ignored a presidential order fixing the rate at Shs 2,400 for six months.“During our August meeting with the President, he agreed to fix the tax exchange rate at Shs2,400 for
Along with a number of other oil companies, British ‘wildcats’ Heritage
Oil and Tullow Oil announced details of a major find – possibly the largest onshore field in Sub-Saharan Africa – exceeding the 400 million barrels threshold needed for commercial viability.
Players in the power sector from across the region meeting in Kampala for the
first time for the East African Power Industry Convention (EAPIC) held at Kampala Serena Hotel acknowledged the fact that the escalating power problems in the region are a result of working in isolation where each country
The venture was revealed at a ceremony held last Friday in Dar es
Salaam, Tanzania. The deal will bring the total number of stores to three and four in Uganda and Tanzania respectively. Woolworths has also improved its merchandise base, offering formal and casual wear for all sizes.
Nyangoma explains that with higher profits available to food crop traders,
many have moved in to buy and stock as much produce as possible, enticing farmers with attractive prices. This development has coincided with an improvement in the road infrastructure.
Officials from nine banks took part in a four-day training in oil, power and gas
issues recently, as the opportunities and direction of the energy industry take shape. dfcu, the chief organizer of the training in partnership with EuroMoney, noted that the training was a way of preparing the financial industry for the
Government has opted for home grown companies, awarding five of the
seven lucrative contracts to local construction firms to build modern markets in the country. Local firms Amugoli General Enterprises Ltd, Dott Services Ltd, Ambitious Construction Ltd, Vambeco Enterprises Ltd and Excel
When Archbishop Cyprian Kizito Lwanga asked Bobi Wine and his bride Barbie Itungo
what they would ask of God given a chance, their answers were interesting. Bobi prayed for his king Ronald Muwenda Mutebi and his family, and then asked God for twins. Barbie on her part asked for a good marriage and
Most music fans still refer to Lillian Mbabazi as ‘Lillian - formerly of Blu3.’ But
looking at the progress she is making this tag is rapidly fading. And as revelers who turned up in big numbers to watch the monthly unplugged show at Silk Lounge will testify, the new tag ‘Lillian and the Sundowners’ is growing on
Skyrocketing fuel prices, galloping inflation, a battered shilling and power
outages are threatening to bring Uganda’s economy to a shuddering halt.Yet, as conditions become unbearable, disillusioned Ugandans should brace themselves for harder times because no respite appears on
Officials from nine banks took part in a four-day training in oil, power and gas
issues recently, as the opportunities and direction of the energy industry take shape. dfcu, the chief organizer of the training in partnership with EuroMoney, noted that the training was a way of preparing the financial industry for the
The United Nations Development Fund has offered $50m to Uganda to improve
on the environment, agriculture, human rights, energy, tourism, wildlife, and design programmes to effectively absorb workers’ remittances. While the grants to such areas like environment and agriculture have been common, it is the
The appetite to take up more loans is waning as interest rates inch up. As a
result, commercial banks could generate less interest income for the second half of this year, considering much of their revenue is made by churning out more credit. Interest rates on credit have been going up over the last two months as
With admissions in vocational institutions now going on, Moses
Talemwa talked to various Education counsellors on which options are available for students seeking to enrol for diploma and certificate courses. Check out the top ten lucrative vocational courses.
Security minister Muruli Mukasa recently attracted criticism when he
hinted at a government’s plan to clamp down on social media sites like Twitter, Facebook and YouTube. According to Mukasa, these social networking sites are increasingly being used to incite the public.
Currently, the initial price of small size of dry fish maws is Shs 70,000 per kilogram;
a kilogram of medium goes for Shs 150,000, while normal large is at Shs 220,000. The extra large goes up to Shs 350,000. Fresh maws go for half the price of the dry ones. Mugweri says that he sells at a relatively higher price to the
Uganda’s tourism basks in discovery of ape’s skull
A team of Ugandan and French scientists discovered the sub-
complete skull of the ape on July 18, 2011 in what researchers described as a historic discovery. This followed 25 years of research, which started in 1985 in Karamoja. Preliminary studies indicate that the skull belonged to a
Some of the tenants The Observer spoke to say the main reason many of them are ditching
Kampala’s office blocks is because of the volatile dollar. The value of the dollar has gone up from Shs2300 in January to the current Shs2800, representing an 18% appreciation.
The US dollar is averaging at Shs 2580, the EURO at Shs 3690 and the
Pound at Shs 4100. This was the cause of the two day KACITA strike a few weeks ago protesting the high value of the dollar. Uganda’s economy depends a lot on imports as the local manufacturing industry is still developing.
Speaking about URA’s new stamp duty guidelines for transfer of property at
the IMF office in Kampala, Thomas Richardson, the institution’s Senior Resident Representative in Uganda as quoted in a press statement saying that, indirect methods are common practice internationally.
