Barclays Africa Group Ltd shareholders Tuesday approved that the group changes its name to Absa Group Limited in July, setting in motion the start of one of the largest re-brand projects in Africa at this time. “The vote in support of our name change in July marks another milestone in
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The Government of Uganda through the Ministry of Energy and Mineral Development has signed the Memoranum of Understanding(MoU) with the China National Nuclear Corporation (CNNC) on cooperation in the peaceful use of nuclear energy. The MoU was signed in Beijing on 11 May 2018 by CNNC Chairman Wang Shoujun and
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Ugandan banks have recorded high Non-Performing Loans (NPLs) and bad loans written off in recent years due to high interest rates and a sluggish economy that have forced many borrowers to default on their loans. Business Focus exclusively ranked banks with most loan defaulters/NPLs basing on the results banks have
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Uganda Revenue Authority (URA) has vowed not to allow Uganda become a mafia economy by crushing the sophisticated smugglers. The remarks were made by Dicksons C Kateshumbwa, the Commissioner Customs at URA during meeting with digital media editors and influencers at the tax body’s head offices in Nakawa on Friday.
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Fortebet, Uganda’s biggest betting company has paid out to the winner from Arua Shs49m. On Thursday morning, the winner, Kasul Acidri came to Fortebet head offices in Kololo to pick his money. As usual, whenever a Fortebet customer wins, he is paid out without any delays, and this is what
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2017 was a tough year for Uganda’s banking sector just like the past five years. However, the results commercial banks have been releasing in the past two months indicate that the sector is slowly recovering from the 2011 crisis when inflation and interest rates hit 30%, a thing that resulted
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Banks have in the last two months been releasing their financial results for the year ending December 31, 2017. The results obtained and analysed by Business Focus indicate that the banking sector is yet to fully recover from the 2011 crisis that saw inflation cross the 30% mark, a thing
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Uganda Revenue Authority (URA)’s Intelligence team at Busia Customs-Eastern Uganda over the weekend nabbed smugglers using the recently-deployed mobile scanners. URA says the smugglers had undeclared the goods, but they were detected using the mobile scanners. Ian Rumanyika, the Acting Assistant Commissioner-Public & Corporate Affairs at URA says the goods
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President Yoweri Museveni’s promise to provide hand hoes to farmers across the country during campaigns in the run up to the 2016 presidential elections is set to see light of the day after Parliament proposed that they be procured in the 2018/19 Financial Year. According to the Report of the
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India and Uganda top the list of the fastest growing economies up to 2026, predicted at 7.9 and 7.5 percent annually, respectively, a latest report by Center for International Development at Harvard University (CID) reveals. The report was released on May 3, 2018. After a decade of growth driven by
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