Kmaupdates

Economy

Govt to create 100,000 jobs for youths through business process outsourcing

The Ugandan government is banking on its comprehensive Business Process Outsourcing (BPO) and Information Technology Outsourcing (ITO) strategy to create 100,000 direct jobs by 2030.   This ambitious plan aims to tackle the country’s youth unemployment crisis, with approximately 10 million young people aged between 18 and 30 outside of formal education, employment, or training. […]

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KNBS Predicts Hike in Prices for Basic Commodities in 2024

The Kenya National Bureau of Statistics (KNBS) in the 2024 Economic Survey has raised concerns about inconsistencies in the prices of basic commodities. In the report, KNBS reveals that the unpredictable weather conditions in Kenya and other parts of the world will adversely affect farm produce and result in a hike in prices. Furthermore, KNBS

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Tinubu Approves $750 Million For Rural Electrification

President Bola Tinubu has approved a $750m World Bank funding for the construction of 1,200 mini-grids in rural communities across the nation. The Managing Director/Chief Executive Officer of the Rural Electrification Agency (REA), Abba Aliyu, made this known on Tuesday while addressing newsmen at a forum held in Lagos. Aliyu disclosed that President Tinubu approved the fund for

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Billionaire Sudhir acquires Lotis Towers from dfcu in auction purchase

Kampala, (UG): Kampala’s Property mogul Dr Sudhir Ruparelia has once again showed why he’s a household name in the Real Estate business after successfully acquiring the city’s multi-million dollar Lotis Towers, in an auction purchase. The 14-storied upscale building located at plot 16 MacKinnon road, Nakasero, in the country’s capital was sold to the city businessman

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Kabale farmers say frustrated with climate

Farmers and local leaders in Ryakarimira Town Council in Kabale District have expressed concerns over the impact of climate change on their agricultural activities. These apprehensions were voiced during a stakeholders’ meeting for the Common Ground project held at Ryakarimira Sub-county headquarters. The Common Ground project, a collaboration between Integrated Seed and Sector Development Uganda

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How five senior staff defrauded Equity bank of Shs 62 billion

The Anti Corruption court in Kampala has remanded five employees of Equity bank on charges of conspiring to defraud the bank of Shs 62 billion. The suspects include; Julius Musiimenta, the head agency banking, Erina Nabisubi, the relationship manager telecoms, Fred Semwogerere a banker, Crescent Tumuhimbise Tibarwesereka, a relationship officer and Wyclif Asiimwe, a distribution

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UBL appoints Patricia Anguzu new human resource director

Patricia Kadama Anguzu has been appointed the new human resources director for Uganda Breweries Limited with effect from March, 15 2024. UBL said in a statement on Wednesday afternoon that Anguzu joins from the fintech space, having most recently served as a Senior Human Capital Advisor at Tugende Limited. “There, she spearheaded the human capital

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Uganda Embraces Vocational Education to Empower Youth and Drive Economic Growth

In Uganda, vocational education is emerging as a powerful tool for equipping youth with the skills and knowledge needed to succeed in today’s competitive job market and contribute to the country’s socio-economic development. With a growing emphasis on practical training and hands-on learning, vocational education is gaining momentum as a viable pathway to empowerment and

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Parliament Stands Firm on NITA-U’s Role Amid Rationalization Efforts

In the recently proposed bills aimed at rationalizing and merging agencies to reduce duplication and redundancy in mandates, Parliament has voiced strong support for preserving NITA-U. Established as an autonomous statutory body under the National Information Technology Authority, Uganda Act 2009, NITA-U plays a pivotal role in coordinating and regulating Information Technology services in Uganda,

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Uganda’s Gov’t urged to release funds for projects

Parliament has urged government to expeditiously release funds for donor-funded projects whose activities are ongoing. The directive follows the presentation of a report of the Committee on Finance, Planning, and Economic Development on unspent balances and the position of the Consolidated Fund as of 30 June 2023. The report was presented by the Committee Chairperson,

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