Business

Kenya Airways, a regional airline, has announced the suspension of its passenger flights to Mogadishu, effective October 14, 2024, citing operational challenges. Allan Kilavuka, the Group Managing Director and CEO of Kenya Airways confirmed the development on Wednesday, October 9, 2024. In a letter addressed to Mohamed Daghar, the Principal Secretary, State Department of Transport and Ministry of Road and Transport Nairobi, said the decision was informed by a current series of challenges. “Due to operational challenges, Kenya Airlines Board and Management...

As Uganda gears up to celebrate her Independence Day on October 9, 2024, Uganda’s economy has tremendously grown 37 times in size compared to that of 1986, when the National Resistance Movement (NRM) government under the leadership of President Yoweri Kaguta Museveni came into power. Besides the rapid growth, Uganda’s economy has undergone political instability, civil war, and fluctuating global commodity prices as a result of the COVID-19 pandemic. As a result, with the coming of President Museveni after five years...

The Minister of Science, Innovation, and Technology, Monica Musenero Masanza, has confirmed that the government will officially launch the Kiira motor vehicle plant in Jinja on October 7th, 2024. While conducting a media tour on Tuesday, October 1, 2024, Minister Musenero revealed that the works on the vehicle manufacturing plant are already at Jinja and are 95 percent complete and set to be commissioned by His Excellency, Gen. Yoweri Kaguta Museveni. According to Musenero, once commissioned, the plant will produce 11...

Uganda’s commercial banks of recent years have been experiencing an increase in customers’ cash thefts, mostly through external and internal fraud schemes and collaborations. This has made customers lose millions of their hard-earned money in most cases without compensation from the commercial banks, which include Stanbic Bank, Equity Bank, and Centenary Bank, to mention but a few. Among the fraud crimes are identity theft, which has emerged as a bigger threat within Uganda's banking sector, accounting for 42.4 percent of scams...

President Yoweri Kaguta Museveni has hailed Gen. Caleb Akandwanaho, aka Salim Saleh, the Chief Coordinator of Operation Wealth Creation, for promoting the government's initiative to industrialize the economy. President Museveni was on Friday, September 27th, presiding over the opening of a trade show at NAPIL Namunkekera Liao Shen industrial park, Kapeka in Nakaseke district. He credited Gen. Saleh for securing and preserving the land, the land, adding that the land had previously been underdeveloped. "I want to thank General Saleh and the...

The Ministry of Trade, Industry, and Cooperatives, together with the Uganda Manufacturers Association, are set to host the International Trade Fair to allow manufacturers and suppliers of commodities from different countries to interact and showcase progress and collaboration to boost trade. According to David Bahati, the Minister of State for Trade, Industry, and Cooperatives, the Trade Fair is scheduled to start on October 2-10, 2024, at Lugogo show grounds under the theme Celebrating 30 years of Industrial Excellence. While addressing members...