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Business

Kshs 1.8b missing at Kenya treasury

By James Wafula in Nairobi. The mega-headed corruption monster in Kenya has again struck with devastating precision in the public sector. This seems to lend credence to remarks made by President Uhuru Kenyatta last year that the country loses Kshs 2 billion daily to corruption. Yet with only five months in office no “big fish” […]

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Business

Kenya Coop bank opens more branches and revamps operations

By James Wafula in Nairobi. The Co-operative Bank of Kenya will open seven new branches in the country this year, to expand its physical presence and grow its customer base. The ongoing expansion will also see the bank revamp disapora units and raise the bank’s total branches to 200, bucking the trend of maintaining or […]

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Business

Kenya Co-op Bank battles recover Kshs 287M Gov’t Loans

By James Wafula in Nairobi. The Co-operative Bank Group of Kenya  has recorded an impressive 20 per cent growth in the past financial year. The bank started 2022 on a sound footing and is building on its Profit Before Tax, of Ksh16.5 billion for the third quarter of 2021, up from Ksh13.8 Billion posted under […]

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Business

Kenya Co-op Bank battles recover Kshs 287M Gov’t Loans

By James Wafula in Nairob. The Co-operative Bank of Kenya is struggling to recover part of Sh287.42 million loans it received from the Treasury. The bank received the cash for on-lending to government projects, according to the latest disclosures on the country’s debt status. The bank, Kenya’s fourth-largest by market share, was among six privately-owned […]

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Business

Uganda Airlines makes maiden trip to Dubai

By Our Reporter. Uganda Airlines on October 4, 2021 made its maiden flight to Dubai, United Arab Emirates, marking the first intercontinental flight for the national carrier since it was revived two years ago. Currently the revamped airline plies other regional routes to Nairobi, Dar es Salaam, Juba, Kilimanjaro, Mogadishu, Zanzibar and Mombasa.  Uganda airlines […]

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Business

Museveni bans importation of fully built buses as demand grows to 10 million

By  Zurah Nakabugo. African development Bank has projected that the African market will move from 1.2 million vehicles, in demand annually in 2017, to 10 million vehicles demanded annually by 2030, mainly due to population growth. “It’s against this background, that we envisage to have a sustainable motor vehicle industry that will produce 500,000 vehicles […]

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Business

Airlink South Africa inaugurates operations in Uganda

By Daniel Bakalangudde. Airlink a South Africa airline based in Johannesburg has added another new route to its expanding intra-Africa network with the launch of its Johannesburg-Entebbe service. State Minister for Transport, Fred Byamukama presided over the colorful launch ceremony at Entebbe International Airport on Sunday, September 19. The launch had been expected earlier this […]

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Business

URA acquires 27 cargo scanners to improve trade facilitation

By Julius Odeke. Uganda Revenue Authority has acquired 27 baggage and cargo scanners to strengthen inspection of imports, exports and also address security controls at the different border points throughout the country. According to the acting Commissioner Corporate Affairs, Ian Rumanyika, he said,  “The new scanners are an addition to those stationed at Malaba, Busia, […]

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Business

Tuskys joins Uchumi, Nakumatt in graveyard of fallen giants

By James Wafula in Nairobi. Tuskys only surviving branch along Tom Mboya street in Nairobi’s CBD is a tale of good old days that have gone sour. Depressed and apparently unmotivated staff go around near empty shells trying to poke life into a fire that has long since brought down the once prosperous giant super […]

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Business LABOUR

Milestone in Uganda’s Aviation industry as UCAA celebrates 30 years

By Margaret Nakazibwe. It is 30 years this year since Uganda Civil Aviation Authority (UCAA) was established in 1991. At UCAA’s establishment in 1991, Entebbe International Airport handled 118,000 passengers and the figure rose to 1,980,000 in 2019, but reduced to 565, 541 in 2020 owing to the effect occasioned by the COVID -19 pandemic. […]