British global insurer AON has quit 10 African markets including Uganda, citing weak economy that can’t permit its growth. According to a February 20, 2017 statement, Capitalworks, a leading Africa focused and based private equity firm specialising in investing on the continent, is to acquire AON’s shareholding in 10 countries
Read More
As Ugandans struggle to take in the controversial Shs6bn handshake, the Ministry of Energy seems to have been rocked with another scandal. Business Focus has established that documents showing proof of payment of oil revenues by oil companies have disappeared with no trace from the East African country’s Ministry of
Read More
Standard Chartered Bank Group recently made changes in its top management. Herman Kasekende, the pioneer Ugandan to head Standard Charted Bank Uganda (commonly referred to as StanChart) in 100 years was moved to Standard Chartered Bank Zambia as CEO and Managing Director, ending his four and half year tenure at
Read More
Unemployment and underemployment are undoubtedly a global problem, and it is expected to worsen given the increasing use of technology that reduces the need for human labour. In Uganda, unemployment has been described as a ‘time bomb’ given the fact that youth unemployment is estimated at over 60%. Away from
Read More
On October 20, 2016, Uganda's Central Bank, the Bank of Uganda (BoU) announced that it had taken over the management of Crane Bank Ltd after the bank became “a significantly undercapitalized institution.” On February 27, 2017, BoU announced the takeover of the now defunct Crane Bank by dfcu. However, a
Read More
Uganda has for many years been ranked as a top tourist destination in the world. However, tourism numbers have remained relatively low, implying that the East African nation is yet to fully utilize this opportunity to cash in on its God-given resources and endowments. In an exclusive interview with Business
Read More
Applications are now open for the 2017 GrowthAfrica Acceleration Programme in Kenya and Uganda. The objective of the programme is to scale ventures, make them investment ready and to develop entrepreneurial leadership. The program targets ambitious, committed and innovative entrepreneurs. The programme invites applications from ventures that are: scalable and
Read More
The government of Uganda has in the past few financial years allocated more funds to the coffee sector. However, some Ugandans are yet to appreciate the fact that coffee can transform Uganda into a middle income country if the sector is given due attention and the ongoing campaign well implemented.
Read More
Private Sector Foundation Uganda (PSFU) in partnership with Uganda Manufacturers Association (UMA) has again organized a business symposium in honour of late James Mulwana, a great entrepreneur who inspired many into business. The one day open business symposium is scheduled for March25, 2017 in the UMA Multipurpose Hall; under the
Read More
Bharti Airtel Africa, one of the leading telecommunications service provider with operations in 15 countries across Africa and BCS with support from Facebook will undertake a fiber project in North Western Uganda. According to a February 17, 2017 statement from Airtel, the fiber ring of 770km, when completed later this
Read More
