Kampala, Uganda | ISAAC KHISA | British American Tobacco Uganda has recorded a 14% increase in net profit to Shs3.9bn for the half year period ended June.30 driven largely by increase in sales revenues. Results released on Aug. 5 shows that the company’s gross revenue grew by 12% to Shs …
Read More »KCB enters DRC market
The move gives the lender access to Africa’s second-largest country with a population of over 93 million people Kampala, Uganda | KAMPALA, UGANDA | 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 …
Read More »Wim Vanhelleputte bows out after 6-year stint at MTN Uganda
Telecom giant, MTN Uganda, has let go of its long serving Chief Executive Officer, Wim Vanhelleputte, setting the pace for the first top leadership transition since the telecom was listed on the Uganda Securities Exchange. Kampala, Uganda | ISAAC KHISA | Vanhelleputte, who has overseen the growth of the telecom …
Read More »Uganda Clays to invest Shs17.8bn in land, boost production
The company is eying regional markets including Kenya, Burundi, Northern Tanzania, DRC and South Sudan Kampala, Uganda | ISAAC KHISA | Uganda Clays Ltd will invest Shs 17.8billion to acquire more land with clays and boost production amidst the escalating competition in the baked clays products market. Martin Kasekende, the …
Read More »Afreximbank approves US$1bn to operationalise AfCFTA Adjustment Funds
Kampala, Uganda | ISAAC KHISA | Africa’s multi-lateral lender, African Export-Import Bank has renewed its approval of a US$1 billion facility to operationalise the African Continental Free Trade Agreement Adjustment Funds. The lender also approved a Grant Funding in an amount of US$10 million to seed the Base Fund of …
Read More »10 years of budget show limited shift in national priorities
A huge chunk of 2022/23 Shs48.1tn budget will go to the usual sectors of works and transport, security, health and education NEWS ANALYSIS | ISAAC KHISA | Uganda’s national budget, read on June.14, has drawn mixed reactions from various players, with manufacturers partly welcoming it but the civil society …
Read More »Uganda bank profits rose 27% in 2021 amid pandemic concerns
The banking industry except two credit institutions held strong capital buffers signalising increased resilience to potential shocks Kampala, Uganda | ISAAC KHISA | Uganda bank profits rose 27% in 2021 from the previous year as the economy partially recovered, but the industry’s future faces uncertainty due to the ongoing Russia-Ukraine …
Read More »Refugees exhibit more resilience to shocks than host households- new study
Koboko, Uganda | ISAAC KHISA | Uganda’s host and refugee households are having the same recovery proportions as the East African nation emerges from the coronavirus pandemic, preliminary findings from a recent study show. However, refugees in Koboko District recovered more than the host though still with lower Resilience …
Read More »Insurance premiums reach record high of Shs1.18trillion
Russia-Ukraine war could deter economic recovery leading to a rise in policy lapses and low new policy uptake and renewals Kampala, Uganda | ISAAC KHISA | Uganda’s insurance industry has recorded a gross written premium growth of 10% for 2021, to Shs 1.18trillion driven by enhanced distribution, customer confidence, risk …
Read More »UAP Old mutual insurance’s profits nearly double to Shs 17.2billion
Kampala, Uganda | ISAAC KHISA | UAP Old Mutual insurance company has seen its net profit nearly double from Shs 9.7billion in 2020 to Shs 17.2billion last year driven by increase in gross written premiums, better claims and expense management. The insurer, which owns 45% of UAP Old Mutual Properties …
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