Uganda’s Vice President, Edward Kiwanuka Ssekandi Thursday flagged off 100 Ugandans mostly youth to work in Middle East countries. They are going through Uganda’s leading labour exporting agency, Middle East Consultants Ltd (MECL). They will work as drivers, general cleaning staff, maids and unarmed guards in Dubai, Qatar and Abu
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Ecobank, the leading independent pan-African banking group, has announced the finalists for the 2nd edition of the annual Ecobank Fintech Challenge, a competition for Africa-focused technology start-ups. The list includes eleven (11) fintech start-ups from across the continent and beyond. An Innovation Fair & Awards ceremony will honour the start-ups
Read MoreStanbic, Uganda’s leading bank recorded slow growth in the first half of 2018, according to the results released by the financial institution at Serena Hotel on Wednesday morning. The bank’s profit after tax increased by Shs1bn to Shs96bn in June 2018, slightly up from Shs95bn in June 2017. The bank’s
Read MoreUganda earned US$3.339bn (Shs12.3 trillion) in 2017 from her exports combined, up from US$2.921bn (Shs10.7 trillion) in 2016, according to latest figures released by the Bank of Uganda (BoU). Cash crops contributed greatly to the above earning. For example, coffee beat gold exports to emerge Uganda’s top foreign exchange earner.
Read MoreUganda’s banking sector has been sluggish since 2011 due to high Non-Performing Loans (NPLs) and bad loans written. High interest rates and a sluggish economy have forced many borrowers to default on their loans, a thing that has seen some banks collapse. National Bank of Commerce, Global Trust Bank and
Read MoreINTERVIEW: Meet 27 Year Old Entrepreneur Changing The Face Of Uganda’s Solar Energy
On July 27, 2018, Powah Limited, a Ugandan solar solutions company received US$25,000 ( about Shs92.5m) grant from Trade and Development Bank (TDB) Group to construct and design a solar run lab and livelihood centre in Nakivale Refugee Settlement. The hub is a livelihood centre constructed and developed from a
Read MoreThe private sector has continued to register positive growth with the eighteenth successive improvement in business conditions according to the latest Purchase Managers Index (PMI) for July. At 53.2 recorded in July, the private sector maintained the same positive performance score card that was seen in June and remaining above
Read MoreEquity Bank Uganda will play a key role in the final stages of Uganda’s oil and gas sector. Addressing the press at the launch of the bank’s new head office at Church Hose Building located along Kampala road on Friday , Dr. James Mwangi said contractors and suppliers in the
Read MoreThe Uganda shilling was relatively stable supported by end month flows from charities amid subdued demand during the week ending 3rd July 2018. Trading was the range of 3690/3700. In the interbank money market, overnight funds traded at 6% while one week traded at 9%. In fixed income market, Shs
Read MoreTwo government agencies, Uganda Revenue Authority (URA) and Uganda National Bureau of Standards (UNBS) have assured Ugandans that there is no ‘bad’ sugar on the Ugandan market. This is after a government newspaper, The New Vision run a story on Friday 3rd August, 2018 titled “BANNED KENYA SUGAR SNEAKED INTO
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