Uganda’s business community is set to strengthen its connections and seize new opportunities as Business Network International (BNI) Uganda hosts the BNI Expo, scheduled to take place on May 31 and June 1, 2024, at the UMA Show Grounds in…
In a groundbreaking move, TotalEnergies, a global leader in energy production and innovation, is revolutionizing employee engagement and empowerment, extending its transformative initiatives to its workforce in Uganda. This strategic shift not only aligns with TotalEnergies’ ethos of sustainability and…
The Central Bank of Kenya (CBK) Weekly Treasury Bills Auction underperformed for the first time in 8 months. Bids received by the fiscal agent at this week’s auction amounted to KSh 23.6 billion, a performance rate of 98.2%, with the monetary authority…
Makerere University, together with the Ministry of Lands, Housing, and Urban Development and the Urban Authorities Association of Uganda (UAAU) are set to undertake an urban expansion planning drive that will result in better-planned cities and urban areas in Uganda.…
Paris, April 26, 2024 – Employee shareholder ownership is the best way to associate the employees with the Company’s transition strategy, and therefore it is at the heart of TotalEnergies’ value sharing policy. Therefore, on April 25, 2024, TotalEnergies’ Board of…
Salaam Bank Uganda, a provide of Shariah-compliant financial services, has won the Best New Islamic Bank award at the prestigious Islamic Finance News (IFN) Global Awards, 2024. The coveted global award recognises the bank’s commitment to providing innovative and customer-centric…
Rotary International President Representative Brenda Cressey and speaker Anita Among at the 2024 Cancer Run launch at Nsambya Hospital. Looking on right is Fabian Kasi the Managing Director of Centenary Bank (right Centenary Bank, together with its subsidiary, Centenary Foundation…
Uganda Baati has launched its 60th anniversary campaign at a media event held in Kampala today. Founded in 1964, Uganda Baati has been at the forefront of the steel manufacturing industry, introducing numerous advancements and achieving many firsts in Uganda…
The world’s electric car fleet continues to grow strongly, with 2024 sales set to reach 17 million. Despite near-term challenges in some markets, based on today’s policy settings, almost 1 in 3 cars on the roads in China by 2030…
The Government of Uganda raised a total of Shs982.61 billion from auctioning of two treasury bills and one Treasury bond in the month of March 2024. Particularly, Shs501.53 was from Bills while Shs 481.08 billion was from the Bond auction.…
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…
The Board of Directors of the African Development Fund, the concessional lending arm of the African Development Bank Group, has approved a partial credit guarantee to support Rwanda’s mobilisation of financing to implement green and social initiatives. The Partial credit…
FSDAi Nyala Facility BV, a facility set up by FSD Africa Investments to invest in emerging local capital providers, is injecting US$1 million into Linea Capital, a South Africa-based financier. Linea Capital specializes in revenue-based finance (RBF), an innovative model…
Kenya’s largest media house, Nation Media Group, has announced a loss of KSh 205.7 million in the full year 2023, from KSh 318.5 million profit in 2022. “As we embark on our Digital Northstar journey, a decision was made to…
Ugandan business leaders have been urged to make a strategic shift towards proactive risk management. Key speakers called for a change in strategey, at a recent breakfast forum co-hosted by Marsh, a global leader in insurance broking and risk management,…
Absa Bank Uganda in collaboration with Bishop Stuart University Mbarara, commemorated World Earth Day on Monday by planting 500 trees. The initiative spearheaded by Absa Bank’s Business Banking Director Albert Byaruhanga brought together Absa staff, university staff and students and aimed…
FSD Africa Investments and Allied Climate Partners have today entered into an Memorandum of Understanding and will partner to address a critical financing gap for climate infrastructure, mitigation and adaptation in Africa. This aligns with the core missions of both…
Maxwell OKello, the esteemed Chief Executive Officer of America Chamber of Commerce (AmCham) – Kenya As the curtains rise on the highly anticipated AmCham Business Summit in Nairobi, Kenya, the spotlight converges on Maxwell OKello, the esteemed Chief Executive Officer…
At MTN Uganda, our customers are at the heart of everything we do. It is this customer-centric approach that has propelled us to be recognized as the Fastest Mobile Network in Uganda in 2023 by Ookla, a global authority in…
291 enterprises across the country are to benefit from the first phase of the Enterprise Development Program that commenced Tuesday, courtesy of Uganda Development Bank and other organisations. The program’s focus is on training in management best practices, debt management,…
Vodacom Tanzania PLC has acquired broadband internet provider, Smile Communications, after purchasing all its shares to a tune of US$ 27.4 million. In 2022, Smile Communications was salvaged from financial insolvency by a Saudi-based investor, Al Nahla Group. Smile received…
Samsung has overtaken Apple as the leading mobile devices provider, to occupy the top spot at the end of the first three months of this year-(Q1 2024). Samsung now enjoys a market share of 20.8% followed by Apple (17.3%), Xiaomi…
Jubilee Health Insurance net earnings for the financial year 2023 increased 29 per cent to KSh 438 million up from KSh 339 million during a similar period last year. Speaking while announcing the results, Njeri Njomo, Jubilee Health Insurance CEO…
The Forum for African Women Educationalists (FAWE) announced a new seven-year extension of its partnership with the Mastercard Foundation to build on the success of its decade-long mission to elevate young women and men in Africa. Unveiled at Kampala on…
Absa Bank Uganda has reported a growth in revenue by Sh64 billion, amounting to a 15.6% growth from the previous year and resulting in a profit after tax of Sh146 billion, according to financial results for the year ended December…
Port-Louis, 16 April 2024 – SBM Bank (Mauritius) Ltd (SBM Bank), one of the leading banking institutions in Mauritius, and the Eastern and Southern African Trade and Development Bank Group (TDB Group) have signed a Memorandum of Understanding (MoU) to collaborate on…
Uganda Breweries Managing Director Andrew Kilonzo said the expected increase in government revenue will not materialize as the 20% tax increase on both locally manufactured and imported spirits will make the products unaffordable to consumers thus resulting in reduced volume…
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…