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…
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…
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
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…