The Tax Appeals Tribunal has upheld a $100,000 (UGX357 million) penalty imposed on TotalEnergies EP by Uganda Revenue Authority (URA) for failing to provide transfer pricing information within prescribed timelines during a tax audit. The ruling reinforces URA’s enforcement powers over multinational companies operating in Uganda. In a decision delivered to end almost two years of a legal battle, the Tribunal ruled that URA acted lawfully in penalising the oil and gas company under the Income Tax Act, after finding that key documents requested during a transfer pricing audit remained outstanding for several months despite repeated notices and deadline extensions….
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Stanbic Bank’s Head of Personal Banking, Israel Arinaitwe, often returns to a lesson Adam Smith captured in The Wealth of Nations: economic progress depends on a society’s stock of capital. To him, it’s not just a theory—it’s a mindset Ugandans can adopt to improve their lives today and strengthen the future for generations to come. In an interview with the CEO East Africa Magazine, Israel frames that idea through Stanbic Bank’s latest brand campaign, Keep Growing. He describes it as more than a slogan, rather, a national call to action aligned to the bank’s purpose. “At Stanbic, we say, Uganda…
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Vodacom Tanzania has reported strong operational and financial momentum in the first half of 2025/26, underpinned by double-digit revenue growth, expanding cash flows, and accelerating performance in its core digital and mobile money businesses. However, the telecom reported a marginal dip in net profit linked to deliberate, short-term investment decisions. In the six months to September 2025, the telecom’s revenue grew by 24% to TZS 905.3 billion (UGX 1.31 trillion), lifting operating profit by 27.8%, and swung free cash flow into positive territory at TZS 24.9 billion (UGX 35.9 billion). While net profit after tax edged down by 1.2% to…
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When veteran journalist Andrew Mwenda posted a video of weary passengers stranded at Entebbe International Airport, his words cut deeper than the images themselves. “The tragedy happening at Uganda Airlines is far beyond even my 2019 doomsday predictions,” he wrote on X. “One plane is stuck in Lagos, another in London, passengers stranded.” In Mwenda’s telling, the situation had become so dire that “even God cannot save this airline.” It was a brutal assessment, amplified by his stature and timing, and it landed at a moment when Uganda Airlines could least afford another blow to public confidence. Days earlier journalist…
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French oil and gas multinational TotalEnergies Marketing Uganda is facing a lawsuit in the Commercial Court. Local engineering contractor Civtec Africa Limited accuses the company of failing to disclose serious…
The shilling experienced one of its most volatile stretches in recent months. It swung wildly as offshore realignments and rising import demand disrupted its long-held stability. The currency opened last…
Tatenda Nigel Chinodakufa is often described as “the man helping Africa’s fintechs grow without stepping on regulatory landmines.” As Regional Business Development Director at Sumsub, a technology firm specializing in…
The Public Procurement and Disposal of Public Assets (PPDA) Appeals Tribunal has overturned a multi-billion-shilling contract award issued by Uganda Electricity Transmission Company Limited (UETCL). It did so after finding…
Jack Ngare, Technical Director in Google Cloud’s Office of the CTO in Nairobi, believes Africa’s innovations are not side projects for global companies but lessons that shape how the world…
As the CEO of Letshego Uganda, Giles Aijukwe stands at the intersection of ambition and accountability, tasked with delivering financial growth in a sector still playing catch-up on inclusion. In this three-segment Q&A, the seasoned executive opens up about leading with conviction and building a values-based culture. What does “inclusive finance” truly mean to you, beyond the business jargon? To me, it is about dignity. It means ensuring that a market vendor in Gulu or a boda rider in Masaka has the same right to access financial solutions as a corporate professional in Kampala. It’s not charity; it’s creating systems…
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