The richest people on earth became $1 trillion richer in 2017, more than four times last year’s gain, as stock markets shrugged off economic, social and political divisions to reach record highs, reports Bloomberg. The 23 percent increase on the Bloomberg Billionaires Index, a daily ranking of the world’s 500 richest people,
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The survival of Kenya based Uchumi Supermarket #ticker:UCHUM will be determined by two things — how fast the retailer secures the signature of a strategic investor as well as a buyer for its 20-acre Kasarani land, reports the Daily Nation. The retailer has had a tough past 12 months, with
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Housing Finance Bank is reportedly seeking Shs61bn Capitalization from government to meet the 'new capital requirements' by the Bank of Uganda (BoU). However, that's far from the truth. Justine Bagyenda, the Executive Director in charge of Supervision at BoU says the Central Bank hasn’t put in place new capital requirements,
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2017 was generally a challenging year, but not the toughest. Uganda’s economy is projected to grow at 5% in 2017/18, up from 4% (revised) in 2016/17. Throughout 2017, inflation was contained within Bank of Uganda’s target of 5% and the exchange rate was generally stable. Inflation was stable as a
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It was a year for bitcoin, technology stocks and the power consolidation of China’s Xi Jinping. Those were some of the most popular topics for people boning up on issues important to finance and business through Google searches in 2017. While there was a spike of interest in the potential
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By Eng. Moses Magogo (FUFA President) Globally, Football is that industry that did not come to its knees when the Credit Crunch hit the world economy in 2007/8. It was the case of rising revenues for the top industry earners when Airlines and Banks were closing. The natural resource for
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Kenya is emerging from a protracted presidential election process and seeing a return to political stability. Nonetheless, challenges will persist in 2018 for organisations operating in the country and East Africa more widely. High debt levels in Kenya and unpredictable policymaking in Tanzania are among the key risks for businesses
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Bank of Uganda (BoU) Governor, Prof. Emmanuel Tumusiime-Mutebile will Monday December 18, 2017 issue the Monetary Policy Statement for the month of December. Analysts are anticipating a further reduction in the Central Bank Rate (CBR), a benchmark lending rate for commercial banks. It worth noting that the Central Bank reduced
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Fresh details have emerged as to why Bank of Uganda (BoU) dropped lawyers from MMAKS and AF Mpanga in mediation talks between Crane Bank (in receivership/BoU) and property mogul Sudhir Ruparelia. Daily Monitor reports that it was the Principal Judge Yorakamu Bamwine who advised Bank of Uganda to appoint new
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The Pay As You Earn (PAYE) tax year-end is looming in most East African territories, and governments are clamping down on non-compliance among businesses and individual taxpayers as they strive to raise more funding for public spending. That means businesses must ensure that their payrolls are fully compliant with the
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