Umeme, has withheld payment of an interim dividend to its shareholders despite recording a 33% growth in profit after tax to Shs64bn for the six months period ending June.30. The company executives said the profits will be used to pay…
Chipper Cash, a cross-border payments app, on Monday, 29 August 2022, joined Uganda Securities Exchange (USE) as a trading participant. USE is a central place for trading of securities by licensed brokers It provides a platform for raising of capital…
According to a USE report, Umeme traded 37.6 million shares, taking 37.53 percent of the volume of sold shares while the company’s share price also slightly improved. Umeme shares were the most traded on the Uganda Securities Exchange (USE) in…
Some 40% of Uganda’s adult population is unbanked. Stanbic is determined to drive down these numbers through a number of initiatives. Emma Mugisha, executive director and head of Business Banking at Stanbic Bank Uganda, believes that mobile money represents a…
Government will capitalize Post Bank by at least 400 percent to increase its share capital to Shs500b from Shs100b. Speaking during the bank’s annual general meeting in Kampala yesterday, Ms Evelyn Anite, the State Minister for Investment, said government had…
Insurers in Uganda have recorded an 18.5% growth in gross written premiums for the six-month period ending June.30 to Shs 711.6bn. Results released in Kampala on Aug.18 indicate that the non-life insurance business generated Shs406.37bn as the life insurance business…
Stanbic Uganda Holdings Limited (SUHL) reported a half year profit-after-tax of UGX162billion ending June 30, 2022. This is up from UGX158 billion recorded during the same period last year, indicating a 4.7% improvement. Speaking during the presentation of the SUHL…
Uganda’s Stock market on Monday witnessed some trading activities which saw businessman Charles Mbire bolster his stake at MTN by acquiring additional 2,263,930 shares at a total cost of Shs 459,907,621.00 on the securities exchange. This is the second purchase…
Victoria University and Stanbic Bank Uganda have unveiled to the students’ community a new financing scheme aimed at supporting blended learning by enabling students acquire laptops on hire purchase basis. The much sought-after scheme has been launched Monday August 22,…
Dfcu Bank has once again partnered with Nation Media Group represented by Daily Monitor, KPMG, and Uganda Investment Authority to launch the 2022 Uganda Top 100 Mid-sized companies’ survey. The Uganda Top 100 mid-sized companies’ program has been running since…
Standard Chartered Bank Kenya on Tuesday released its financial results for the first half of the year period ended 30 June 2022. The lender’s profit before tax was up 11% to Ksh 7.5 Billion while profit after tax also rose…
Centenary Bank and Absa wrote the largest premiums from bancassurance for the quarter ended March, details from Insurance Regulatory Authority (IRA) show. During the period, data from IRA indicates, Centenary Bank wrote the largest premiums in the life category, recording…
British American Tobacco Uganda has recorded a 14% increase in net profit to Shs3.9bn for the half year period ended June 30. Results released on Aug. 5 shows that the company’s gross revenue grew by 12% to Shs 50.7bn as…
Regional lender, KCB Group, has followed the footsteps of Equity Bank to venture into the Democratic Republic of Congo. KCB Group, which already has operations in Rwanda, Burundi, Tanzania, Uganda and South Sudan, says it has reached an agreement to…
Telecommunication companies have reported that their operations over the last six months have been affected by what they call a difficult macroeconomic environment, characterized by the skyrocketing cost of living and foreign exchange rate. According to the Uganda Bureau of…