Johnson & Johnson had received scorn for executing the so-called Texas Two-Step bankruptcy strategy. The healthcare titan was facing thousands of claims about allegedly carcinogenic talcum powder. Taking advantage of a quirk in Lone Star State law, it created a…
Parliament has approved a supplementary expenditure budget worth Shs1.106 trillion for settling the offtake arrangement between government and DEI Pharmaceuticals, wage and pension and gratuity shortfalls. During plenary on Tuesday, 30 April 2023, the Deputy Chairperson of the Budget Committee,…
Housing Finance Bank has announced a profit after tax of Ushs 65.1 billion for the financial year ended December 31, 2023. The Bank attributed the 11.3% year-on-year growth in net profits to digital transformation and revenue diversification efforts. In the…
Carrefour, operated by Majid Al Futtaim in Uganda, has announced a UGX 7 million sponsorship of the Kyambogo Ultra Challenge Run, scheduled for May 4th, starting at the Kyambogo University Cricket Oval. The Kyambogo Ultra Challenge Run, held annually since…
Diamond Trust Bank Uganda has released its annual performance results for 2023 reporting a steady double-digit growth across all major metrics such as deposits, customer lending and income, as well as net profit and total assets. The bank reported that…
LR: The Speaker of the Parliament, Anita Annet Among, Mary Goretti Kitutu, the Minister for Karamoja Affairs between 2021 and 2024, Agnes Nandutu, the State Minister for Karamoja Affairs between 2021 and 2024. The UK has imposed sanctions…
In a collaborative effort to propel Africa’s transition towards a sustainable future, AfriLabs, a pan-African network of innovation hubs, has partnered with Emerge Green Africa. This impactful project aims to unlock green development across the continent by leveraging innovative energy…
Mastercard has partnered with Johannesburg-based fintech company SAVA to bolster financial inclusion for small and medium-sized businesses (SMMEs) in Africa. This collaboration aims to equip SMMEs in South Africa, Nigeria, Kenya, and Egypt with innovative financial tools to streamline their…
PHOTO COURTSEY: Kigali Business Centre The Rwandan Ministry of Information Communication Technology and Innovation, alongside the World Economic Forum, launched the Centre for the Fourth Industrial Revolution (C4IR) in Rwanda, marking a first for the African continent. C4IRs are hubs…
PHOTO COURTSEY: Sheila Sabune, Corporate Relations Director, Uganda Breweries Limited Sheila Sabune has been appointed Uganda Breweries Limited (UBL) Corporate Relations Director, with effect from 1st May 2024. She has over two decades of expertise in Operations Management, vast experience…
Telecom giant MTN Uganda has announced a historic milestone of reaching 20 million active customers. At a special staff town hall meeting attended by a distinguished delegation from MTN Group and MTN Uganda’s leadership on Monday, Teopister Nakyanzi from Busuula…
The Commercial Division of the High Court has ordered the winding up of Jomayi Property Consultants Limited over its failure to pay its debt owed to NC Bank. The order to wind up comes after NC Bank failed to recover…
The URA Commissioner General, John R. Musinguzi has called upon the early adopters of the Electronic Fiscal Receipting and Invoicing Solution (EFRIS) to support their counterparts who are still facing challenges to enable EFRIS fully take off. He made the…
Standard Chartered Bank Uganda has seen a significant rise in profits, doubling from Shs 40billion to Shs 80billion for the year ended December 2023. On the other hand, Bank of Baroda experienced a 2.29% decline in profits to Shs 153billion…
Absa Life Assurance Kenya (Absa Life), an Absa Group subsidiary, has reported an increase in gross profit to KSh 862 million in 2023. “Absa Life continues to maintain a healthy quality of portfolio in the products we provide to the…