Business & Markets

Umeme, UETCL Face off Over Estimated UGX 600 Billion Debt After Parliament Probe

Paul MurungiBanking & Financial ServicesCompany NewsThe Big StoryOctober 14, 2025October 23, 2025

The long-running standoff between Umeme and the Uganda Electricity Transmission Company Limited (UETCL) over a UGX 594 billion debt has once again thrown Uganda’s power sector into turmoil, exposing deep…

Court Grants Former Safeboda Director Green Light to Defend UGX 180 Million Loan Dispute with Ecobank

CEO East Africa MagazineThe Big StoryOctober 14, 2025October 23, 2025

The High Court’s Commercial Division has granted businessman Thomson Ricky Rapa unconditional leave to defend himself in a high-stakes loan dispute with Ecobank. The ruling spotlights the handling of insurance-linked…

Centenary, KCB and PostBank Dominate Agent Banking Recruitment as Transactions Hit UGX 29 Trillion-BoU Report

Paul MurungiBanking & Financial ServicesThe Big StoryOctober 14, 2025October 14, 2025

Uganda’s agent banking industry has entered a new phase with latest data from Bank of Uganda painting a picture of a sector in full bloom. As of June 2025, the…

URA Moves Key Tax Services to New Pearl Tower One Along Yusuf Lule Road

Muhereza KyamuteteraNews & AnalysisReal Estate & ConstructionOctober 14, 2025October 21, 2025

The Uganda Revenue Authority (URA) has officially begun relocating several of its high-priority offices from the Nakawa Headquarters to the newly completed Pearl Tower One, a state-of-the-art Grade-A office development…

Aangan Restaurant thrives on long-term vision, consistency, people, and support from I&M Bank

Brian EmorutEntrepreneurshipFood, Wine & Fine DiningOctober 13, 2025January 8, 2026

Opening a restaurant is a dream that many people share, but only a few are able to turn it into a successful reality. The restaurant industry is known for being…

Ugandan Banks Post Record UGX 1.9 Trillion Profit as Customer Deposits Surge to UGX 41.6 Trillion-BoU Report

Paul MurungiBanking & Financial ServicesThe Big StoryOctober 13, 2025October 13, 2025

Uganda’s banking sector has cemented its recovery and resilience, posting a record UGX 1.9 trillion net profit for the year ended June 2025.  This was a nearly an increase of…

COMESA Fines Diageo USD 750,000 for Unfair Distribution Deals in Uganda, Eswatini and Zambia

Paul MurungiEast AfricaManufacturing & IndustryTechnology & InnovationThe Big StoryOctober 13, 2025October 21, 2025

The Common Market for Eastern and Southern Africa (COMESA) Competition Commission has imposed a fine of USD 750,000 on global alcoholic beverages manufacturer Diageo Plc, the majority shareholder in East…

Dr. Fred Muhumuza to Lead VisionFund Uganda’s High-Impact Board into a New Era of Inclusive Growth

Muhereza KyamuteteraCompany NewsExecutive ProfilesOctober 13, 2025October 14, 2025

Renowned Ugandan Economist, Dr. Fred Atwooki Muhumuza has been appointed as the new Board Chairperson of VisionFund Uganda.  Dr. Muhumuza takes over from Frederick Edward Mwesigye, a veteran of Uganda’s…

Cheque Transactions Drop by 3.6% as BoU Pushes for More Digital Payments

Paul MurungiBanking & Financial ServicesThe Big StoryOctober 13, 2025October 21, 2025

Payments through cheques in Uganda’s financial eco-system continues to decline as Bank of Uganda (BoU) intensifies efforts to promote digital and electronic payments. Latest data from the central bank shows…

BoU Report: Cash Still Rules, but Digital Payments Are Catching Up

Paul MurungiThe Big StoryOctober 13, 2025October 21, 2025

Despite the steady rise of mobile money, fintechs, and online banking, cash continues to dominate Uganda’s payment landscape.  Bank of Uganda (BoU), in its latest currency and payment systems report,…