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Tag Archives: growth

QCIL records over 500% profit growth to Shs 22bn

The company has declared an interim dividend of Shs 3.5 per share, payable on or before December 12 Kampala, Uganda | THE INDEPENDENT | Kampala-based pharmaceutical firm, Quality Chemical Industries Ltd. (QCIL), has posted an impressive Profit After Tax of Shs 22.05 billion for the half-year period ending September 30, marking …

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Ethiopia doubles coffee production

The country’s coffee export revenue has seen substantial growth, jumping from US$700 million in 2018 to US$1.4 billion in 2023 ANALYSIS | AGENCIES | Ethiopian Prime Minister, Abiy Ahmed has announced an impressive achievement of doubling Ethiopia’s annual coffee production from 500,000 tons to over 1 million tons within the last …

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Uganda’s youthful population key driver of growth, transformation

Uganda’s latest census figures show a burgeoning young population in the East African country, which experts say is poised to drive economic growth and transformation. KAMPALA, Uganda | Xinhua | As the world commemorates World Population Day on Thursday, Uganda’s latest census figures show a burgeoning young population in the …

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World Bank: African economies projected to grow by 3.4 % in 2024

However, the growth is insufficient to have a significant effect on poverty reduction ANALYSIS | AGENCIES | Increased private consumption and declining inflation are supporting an economic rebound in Sub-Saharan Africa. However, the recovery remains fragile due to uncertain global economic conditions, growing debt service obligations, frequent natural disasters, and escalating …

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UEGCL charts course for growth and sustainability in ambitious 2028 strategic plan

The company’s financial performance for the fiscal year 2022/2023 demonstrated robust growth, with a remarkable 63% increase in revenue, reaching Shs343.7 billion Kampala, Uganda | JULIUS BUSINGE | State-owned Uganda Electricity Generation Company Limited (UEGCL) is poised for transformative growth and sustainability as it implements its strategic plan for the period …

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Afreximbank records 8% asset growth

Kampala, Uganda | THE INDEPENDENT | Africa’s multi-lateral lender, African Export-Import Bank, has recorded an 8% growth in assets to $30.1 billion for the six months ending June 30, 2023, driven by an increase in loans. The lender recorded a substantial growth in total interest income, which soared by an impressive …

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