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…
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…
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…
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…
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…
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…
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…
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,…
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…
