Today marks the commencement of the Public Consultation Workshop on the Anti-Counterfeit Goods Bill 2023 at the Mukono Taxi Park ground, signifying a crucial step in Uganda’s fight against counterfeit products. Organized by the Parliament of Uganda in collaboration with…
The UK has removed export tariffs for cut flowers for two years, with the aim of making trade with the UK easier and cheaper for growers in East Africa and beyond. The suspension of 8 per cent duty for cut…
Royal Institution of Chartered Surveyors (RICS), a leading professional body working in the public interest to advance knowledge, uphold standards, and inspire current and future professionals has announced the appointment of Judy Rugasira Kyanda, as their new Specialist Advisor-Africa. Judy…
UAP Old Mutual in collaboration with the National Social Security Fund (NSSF) Uganda have hosted a highly informative financial education engagement at the Kampala Sheraton Hotel. Themed, ‘Prosper in Retirement and Beyond’, the event targeted customers who are soon to…
BlueChip Technologies, an African tech giant specialized in Data Management and Analytics has officially launched its market operations in Uganda. This strategic move aims at revolutionizing Uganda’s technological landscape by introducing a comprehensive suite of innovative solutions tailored to meet…
Kampala, Uganda – The Chief Executive of the Stanbic Uganda Holdings Limited(SUHL), Francis Karuhanga has officially flagged off two innovative programs aimedat supporting businesses access finance, fostering economic growth within Uganda’sdynamic SME sector. Dubbed the Stanbic Accelerator Program (SAP) and…
Telecom firm, Airtel Uganda, has handed over Shs 34.8 billion to the Uganda Communications Commission (UCC) in fulfillment of the Communications Act, aimed at bolstering the nation’s communication infrastructure. This contribution comes on the heels of Airtel’s exceptional financial performance…
Dr Michael Mayanja Lugemwa has been appointed Director of Finance and Operations at the Deposit Protection Fund (DPF) of Uganda, effective April 2024. The fund serves as a safeguard for depositors’ funds in financial institutions. Its primary function is to…
Uganda Breweries Limited (UBL) proudly announces the commissioning of its state-of-the-art UGX 37 billion biomass plant, marking a significant milestone in the organization’s commitment to sustainability while demonstrating dedication to reducing its carbon footprint.The facility represents a substantial investment by…
Prosper Africa, a US government national security initiative, has announced the launch of Africa Trade Desk, a platform to link African agricultural producers and suppliers with large US food retailers. “The Africa Trade Desk, a public-private partnership between Prosper Africa…
Bank of Uganda has written to the Uganda Registration Services Bureau (URSB) advising it to amend the name Crane Bank Ltd by deleting the word “Bank” from the name in line with a Supreme Court ruling. BoU’s decision and consequent…
Half Day city tour of Addis Ababa will give you an insight to History, Culture, beliefs and life style of Ethiopians
The Ethiopian Securities Exchange (ESX) announced today the successful closing of its capital-raising exercise, surpassing by more than two-fold the amount of funds it sought to start its operations. Initiated in November 2023, with intensive efforts by its management and…
Dr Peter Mwesige has joined the Collaboration on International ICT Policy for East and Southern Africa (CIPESA) where he is the chief of Party of their USAID funded project, Your Rights Activity. The project seeks to support rights activists, especially those…
The Minister of Gender, Labour and Social Development of Uganda Betty Amongi Akena and Ali Bin Samikh Al Marri, Qatar’s Minister of Labour, entered into a bilateral labour agreement that aims to streamline and secure the process of labour externalisation between…
Stanbic Uganda Holdings Ltd (SUHL), part of the Standard Bank Group, Africa’s premier bank by assets, recorded a 15.2% increase in profit after tax, reaching Shs412 billion for the year ending December 31, 2023. Operating under the ticker SUHL on…
Bamburi Cement expects its 2023 net earnings to drop by at least 25 per cent, the listed company said in a profit warning. The Hima Cement transaction, valued at $120 million, was approved by shareholders at a virtual general meeting…
MTN Group, Africa’s largest network operator by subscriber base, has sold its equity stakes in MTN Guinea-Bissau and Guinea-Conakry to Africa-focused telecommunication service, Telecel. “Telecel, an established telecoms operator with a significant presence in Africa, is well positioned to drive…
The Nigerian Federal Government filed tax evasion charges against Cryptocurrency giant Binance, according to media reports. “Any company that transacts business above N25 million annually is deemed by the Finance Act to be present in Nigeria. According to this rule,…
The African Development Bank Group (AfDB) has reached a negotiated settlement with China Henan International Cooperation Group over failure to disclose it used a commission agent for a road project in Uganda. China Henan found itself on the wrong side…
Interswitch, one of Africa’s leading integrated payments and digital commerce companies and eMaisha Pay have announced a partnership which will digitize payments in Uganda’s agriculture sector to address several challenges encountered by farmers as well as businesses throughout the value…
John Gachora, Group Managing Director - Executive
For the first time in seven years, Kenya Airways has reported an operating profit of KSh 10.5 billion in the year ended December 31 2023, a 287% increase from the KSh 5.6 billion operating loss in 2022. This is a…
Umeme, Uganda’s electricity distribution company has recorded a significant drop in its full-year financial result for the period ended 31 December 2023, driven by accelerated amortization of intangible assets. “As the natural term of concession is coming to its end…
Uganda’s seasoned advocate for financial inclusion Innocent Kawooya has been appointed as the Chairperson of the Bank of Uganda’s Promote Gender Inclusive Finance Working Group. Kawooya is the Chief Executive Officer of Hipipo Uganda, a leading digital age organization that…
PHOTO COURTESY: The newly unveiled Tesla Model Y car during the ceremony that took place on Friday, March 22. AUTO24 Rwanda, a local car dealership, has introduced Tesla vehicles to the Rwandan market. This follows a campaign initiated by the dealership in…
The governing board of the Uganda Chamber of Mines and Petroleum (UCMP) and the Petroleum Authority of Uganda Officials shortly after a recent meeting to discuss issues on how National Participation of Ugandan companies can be enhanced in the oil and gas sector
MTN Mobile Money (U) Limited (MTN MoMo), a leader in digital payments, proudly announces the launch of its innovative ticketing option on the MoMo platform. The unveiling took place at the MTN Headquarters, where esteemed guests from various industries gathered…
From Left: KCB Group, Finance Director, Lawrence Kimathi, Group Chairman, Dr. Joseph Kinyua and Group CEO, Paul Russo exchange notes during the release of the 2023 Full Year Financial results. KCB Group recorded a decline in net profit in 2023…
Gideon Muriuki, the Managing Director at Co-operative Bank of Kenya Co-operative Bank of Kenya has posted a 5.2% growth in net profit to Shs23.2 billion in the financial year ended December 2023 on increased income and reduced operating costs. The…
KCB Group, Chief Executive Officer, Paul Russo KCB Group CEO Paul Russo has confirmed that the regional lender is in the process of selling its struggling subsidiary National Bank to Nigerian lender Access Bank. “The board evaluated three options and…
MTN Uganda CEO Sylvia Mulinge leads key partners in launching the MTN AWE accelerator programme in Kampala As we continue to observe the Women’s month, MTN Uganda is delighted to announce the unveiling of 118 exceptional women entrepreneurs who have…
Yusuf Omari, Chief Finance Officer, Absa Bank Kenya Absa Bank Kenya Plc has announced a 12% increase in net profit to KSh 16.4 billion for the financial year ended 31st December 2023. These financial results come at a time when the…
NCBA Group, a Leader in the Kenyan financial services sector, has today signed a USD 50 million facility with Proparco a subsidiary of the AFD Group focused on private sector development. The funding will go towards delivering NCBA`s “Change the…
Kenyans are moving to cheaper brands and cheaper rented property as a way of managing expenses resulting from high inflation in the country recently, an Old Mutual Financial Services survey shows. “To cope with financial pressures, females in Kenya have…
UWEAL Chairperson, Sarah Kitakule, said the challenges facing them is the inability to access adequate long-term patient capital to go into big businesses because of the unfavourable terms and conditions. Women entrepreneurs have accused financial institutions of creating products that…
CPA Dr. James Okello Onyoin, Co-Founder and Managing Partner, HLB Jim Roberts HLB Jim Roberts is an auditing and consulting firm constituting a partnership of four qualified Chartered and Certified Public Accountants. It is one of the leading firms providing…
ICTAU CEO, Gideon Nkurunungi KAMPALA – The Information Communication Technology Association of Uganda (ICTAU) will release the sought-after sector Trends Shaping Organizational Strategy and Innovation. Sector players will meet at the Protea Skyz Hotel on Wednesday, March 20, 2024, for the…
The European backed network investment by TowerCo of Africa Uganda, formerly Ubuntu Towers Uganda, will overcome a key barrier holding back telecom access in rural Africa. TowerCo of Africa Uganda, a subsidiary of pan-African telecommunications service provider Axian Telecom, has…
Thursday 14th March 2024. Wakiso, Uganda – MTN Uganda’’s corporate social responsibility arm, MTN Foundation, has announced a substantial contribution of technical equipment and educational materials worth UGX 16 million to the Rotaract Club of Masaka. This support will help…
Patrick Pouyanné The Board of Directors of TotalEnergies SE this week decided to call an ordinary meeting which will among other matters retain Patrick Pouyanné, Chairman and Chief Executive Officer. There had been speculation that Patrick Pouyanné was about to…
PHOTO: John Rujoki Musinguzi, Commissioner General, URA John R. Musinguzi, the Uganda Revenue Authority (URA) Commissioner General, has been reappointed for a second 4-year term. He was first appointed in March 2022 to take over Uganda’s tax authority from Doris…
PHOTO: Fred Muwema, Chairman of the Anti Counterfeit Network Africa Kampala Uganda; March 14, 2024; The Parliament of Uganda through the Mover of the Private Member’s Anti Counterfeit Goods Bill (ACGB) 2023, Hon. Asuman Basalirwa (MP Bugiri) and Hon. Ebwalu…
The Nairobi Securities Exchange has today held a stakeholder engagement forum with commercial banks in preparation to the launch of the proposed hybrid bond market that will combine both onscreen and Over-the-Counter trading of fixed income securities. The forum enabled…
PHOTO: The Auditor General of Uganda, John Muwanga The government has witnessed an increase of nearly 80 percent in local revenue collection from local governments following the transition to online and mobile payment platforms. In 2017, the government started to…
Centenary Bank plans to use at least 50% of the financing to support women-run or women-owned businesses, in line with the EIB’s 2x Challenge criteria and SheInvest initiative. Uganda’s Centenary Rural Development Bank and Housing Finance Bank have secured a…
The Managing Director, DTB Bank, Mr. Thambi Varghese, highlighted the contribution of @dtb_uganda to the insurance sector saying “It’s very substantial, with over 10% of the total bancassurance contribution in 2022” He went on, “This is the most innovative agent…
Sim Tshabalala, Standard Bank Group Chief Executive says: “We are honored to receive this accolade, which affirms our commitments to providing consistently excellent service for our clients and to driving Africa’s growth”. Standard Bank has been ranked as the most…
(L-R) MTN Uganda CFO Andrew Bugembe, CEO Sylvia Mulinge and MTN MoMo MD Richard Yego announcing MTN Uganda annual performance in Kampala on March.06, 2024 Uganda’s largest telecom firm, MTN Uganda, plans to further sell-down the remaining 7% shareholdings to…
India High Commissioner to Uganda Singh Rawat, Chef Aruna Vijay and Plascon MD Santosh Gumte His Excellency Upender Singh Rawat, India’s High Commissioner to Uganda has emphasized the importance of preserving and celebrating native cultures, even in diaspora. “Festivals are celebrated differently in states.…
John Musinguzi, URA Commissioner General The Uganda Revenue Authority (URA) is set to enlist all vatable smaller and medium size businesses on the Electronic Fiscal Receipt and Invoice Systems (EFRIS), to ensure efficiency in the collection of Value Added Tax…