Category «Business»

Simcard Registration: Is it Big Brother at work?

A common complaint foreign investors make about Uganda is the time it takes to register a business. We have 16 procedures for registering a new business, Tanzania 12, Kenya 11, while Rwanda has only two. Not so for joining a mobile phone network. At the moment all you need is to buy a phone, the …

Government sets 15% interest rate for youth money

Finance Minister, Maria Kiwanuka has this Wednesday announced that the government has agreed with three Commercial Banks to fix the interest rate charged on youth money at 15 per cent for a period of six months. Ms Kiwanuka said this at the Ministry Headquarters where she officially signed the Memorandum of Understanding with Centenary Bank, …

Growing import bill a threat to current gains – central bank

The growing gap between imports and exports standing at $3 billion (about Shs7 trillion) has tilted Uganda’s Balance of Payments (BoP) casting doubt on the country’s sustainable growth, according to the central bank. Central bank’s data released yesterday indicate that Uganda’s import bill has been growing by about $5 billion (about Shs11 trillion) compared to …

Cement, sugar, iron and steel lift Uganda’s export fortunes

Even as statistics indicate that Uganda has continued to be a net importer, there is great optimism as the country registers good performance in the export sector in 2011, according to data from Uganda Revenue Authority. URA data indicates that Uganda has between 2009 and 2011, grown its export revenue to about Shs1.8 trillion, slowing …