Centenary Bank profit after tax fell by 8.7% to Shs100.27bn in the year ended December 31, 2017, down from Shs109.9bn recorded in 2016. According to the 2017 results released by Centenary Bank on Friday, the fall in profit is largely due to increased Non-Performing Loans (NPLs) and bad loans written
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The Ministry of Energy and Mineral Development’s Petroleum Supply Department has listed and shamed 114 fuel stations selling adulterated fuel in Uganda. Yusuf Masaba, a Communication Specialist at Ministry of Energy and Mineral Development told Business Focus that the named companies will be penalised in accordance with administrative guidelines and
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The Director of Interpol AIGP Dr. Fred Yiga has urged Ugandans seeking greener pastures abroad to always seek guidance from them, but most importantly go through professional companies licensed by the government. Yiga made the remarks while flagging off 71 Ugandans who are going through Middle East Consultants Ltd (MECL)
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Does education matter in business success? This is a question many prospective entrepreneurs ask themselves. While it can be important for business owners and entrepreneurs to attain qualifications related to the running of their businesses, it’s not imperative. Some of the business world’s biggest names have only a few qualifications,
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KCB Bank Uganda Ltd recorded an impressive Shs10.2bn net profit in the year ended December 31, 2017, up from Shs5.4bn recorded in 2016. This represents an increase of 88.8%. This could be attributed to the bank’s general improved performance in various areas. For example, the bank’s use of digital channels
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Ecobank Uganda’s game-changing mobile app has attracted 32,000 customers in a short period of time as the Pan-African bank takes centre stage in Uganda’s online banking market. The app that has been applauded for revolutionizing banking in Africa combats many of the financial inclusion barriers such as dearth of rural
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Uganda Revenue Authority (URA) has spoken out on the impounded container carrying health equipment that has since created public anger. The container impounded a few days ago was imported by Aba Foundation and was said to be carrying medical equipment. It was deposited in a bonded warehouse pending clearance (the
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On March31, 2018 I and other coffee farmers travelled to Buzami Village, Bunjakko Island in Buwama Sub-county, Mpigi District to learn about a new method of increasing coffee production and output. As you approach the one–acre coffee demonstration farm set up by Joseph Nkandu, a prominent farmer and Executive Director
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Agribusiness is increasingly becoming lucrative in Uganda. And a number of unemployed Ugandans are embracing agribusiness for income generation, while the employed ones are into farming to supplement their earnings. It is important to note that 69.4% of Uganda’s population is still practicing subsistence farming, according to the 2014 National Population
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Barclays Bank of Uganda Ltd net profit increased by 30.9% to Shs72bn in 2017, up from Shs55bn recorded in 2016, Business Focus reports. In the financial statements released Monday, Barclays attributed the increase in profits to “a very strong revenue performances and cost efficiencies.” The bank’s total revenue increased by
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