Persistent rumours and anxiety that telecom giants Airtel is exiting several local markets on the continent will have to lie low for a while after Airtel Rwanda made a strong statement of intent on their future with the acquisition of 100% equity in Tigo Rwanda. The development comes fast on the heel of rife rumours across the borders in Kenya where the telecom had to come out strongly to refute rumours that it was exiting the Kenyan market. A fortnight ago, the chairman of the Indian-based Bharti Airtel, Sunil Mittal, told India’s Economic Times that the telecom was considering exiting…
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The aviation sector’s efforts to wobble back to its wings and soar higher in the global skies has taken yet another hard bump as Etihad Airways moved to end its flights to Entebbe International Airport. Etihad Airways has been servicing Entebbe four times a week for the last two-and-a-half years but now says that, effective March 2018, they will cease operating the route. The flag carrier and the second largest airline of the United Arab Emirates did not give detail for their withdrawal from Uganda, leave industry analysts to point to the possibility of loss-making. https://twitter.com/Deals_Africa/status/943028833833422848 However, in a statement,…
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BY PHILLIP NABWISO In a move to boost Uganda’s economy, especially with the envisaged target of achieving middle-income status by 2020, the government recently rolled out the 2017-2022 National Financial Inclusion Strategy (NFIS). This ambitious plan was unveiled at the end of October during at an event held at the Bank of Uganda (BoU) head officers. This development came at the back of growing discontent and scepticism amongst different stakeholders on the feasibility of Uganda achieving the middle-income status by 2020, coupled with financial inclusion deficiencies witnessed across the country with majority of the adult populace unbanked. But now, the…
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The ongoing debate on Age Limit Bill as Ugandan legislators weave their way around a sticky matter of amending Article 102b of the Constitution might have damped every socioeconomic fabric of the country, but has not stopped some good news from slipping in. One such is that Uganda has moved up five places in the ICT Development Index (IDI)–and this has no relation to whether the improvement is because every one is using IT to fume or praise Age Limit matters. Previously 158th globally in 2016, the improvement to 152nd position is indicative of the steady success the multifaceted approach…
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BY PAUL TENTENA According to the state of the economy report, prepared by the Private Sector Foundation Uganda (PSFU) Policy Advocacy Unit, the first half of the year was headlined by uncertainties in the macroeconomic environment characterised by high interest rate, exchange rates volatility, corruption and dampened demand. The report that covers January to June 2017 says: “Analysis of Uganda’s economic situation for the first half of 2017 depicts mild headline inflation, at an average of 6.6%, reduced but uncompetitive commercial banks’ lending rates, average of 21.7% and the continued depreciation of the Shilling against the USD at average of…
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BY JULIET HILDAH NAMULUNDU So you can’t drink and dunk, eh? Or do you really believe beers and basketball shouldn’t mix? Well, mix, they will, and drink-dunking, fans will witness as the extravaganza that is the Federation of Uganda Basketball Association (FUBA) 3X3 tourney kicks off next month. But before you get the right idea wrong, drink-dunking doesn’t exist in the true sense of the word, but figuratively, Uganda Breweries Ltd will care less as they shower FUBA with cash to make the upcoming tourney worth the excitement. And talking of money, it is not a measly package for a…
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BY JULIET HILDAH NAMULUNDU Lidtech Uganda is playing the dream Santa this festive season with its new brand ‘Win It, Takula Cash’ lottery campaign. The exciting game that will see an assortment of prizes won was launched early December at the Constitutional Square with the Chairman of Lotteries and Regulatory Board, Manzi Tumubwiine, gracing the ceremony. Takula Cash is a fun scratch-and-win-instantly game, with Shs5 billion in prizes. The game is legal as it is regulated by Uganda National Lottery. Aaron Kasozi, the general manager of Lidtech Uganda, reassured Ugandans that this particular lottery game is like no other. Not…
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BY FAITH ATHNUS Erecting billboards and hoardings along roads managed by Uganda National Roads Authority (UNRA) will no longer come without some sweat as the Authority moves to toughen regulations in the roads sector. The process has been made stringent as UNRA seeks to enforce new road sector regulations. As advertisers will be chewing the insides of their tongues in frustration at UNRA, transporters will be wondering when an invention for their trucks to fly will be ready in this life since the load axle rule has been revised to punish any slight overload on the roads. The Authority says…
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If there were going to be signs that Uganda’s economy was to improve from the 2016 sluggish growth, interest rates, inflation and better rains provided that indicator. In 2017, the Central Bank Rate (CBR) fell to a record low of 9.5%, the lowest since 2011. The signal that was being sent by Bank of Uganda (BoU) is that the economy needed a jumpstart and the conditions were perfect for that. However, 2017 did not start off on a positive note. Crane Bank sold The troubles for Crane Bank became visible in 2016 as the struggling private sector players that had…
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BY JULIET HILDAH NAMULUNDU The past two decades have seen several women venture in to big businesses in Uganda’s economy. Much of this ‘women emancipation’ has been attributed to changing global trends, the current government’s deliberate effort to empower and uplift the status of women in society and the women’ determination to actively engage in the country’s development instead of remaining on the sidelines. Even though many posts in both the public and private sector still have a majority male population, the number of women taking up top positions continues to grow each passing day. Platforms like Uganda Women Entrepreneurs…
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