The Uganda shilling was on a losing streak for most of the trading sessions during the week ending 29th March 2018. This was due to an upsurge in demand from the interbank and major corporates buying dollars to meet their end month requirements ahead of the long Easter weekend. On
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dfcu bank has recorded an impressive Shs127.6bn net profit in the year ended 31 December 2017, up from Shs46.2bn registered in 2016. This means that the profit increased by a record Shs81.4bn. According to the bank’s financial statements released Thursday, dfcu bank registered impressive results on all key performance parameters
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Umeme Limited has released its financial results for the year ending 31 December 2017 indicating that its net profit reduced to Shs35.49bn, down from Shs138.8bn in 2016. However, its gross profit increased by 8.3% to Shs515.9bn on account of improved distribution margins and continued reduction in energy losses. Umeme says
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Uganda is not among the top 10 investment destinations in Africa, according to the latest Africa Investment Index 2018. Morocco is the most attractive economy for investments flowing into the African continent, according to the latest Africa Investment Index 2018 (AII) by Quantum Global’s independent research arm, Quantum Global Research
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Stanbic Bank Uganda has posted Shs200bn net profit in 2017, up from Shs191bn in 2016. This represents 5% growth. Releasing the results at Sheraton Hotel Wednesday morning, Stanbic Bank Uganda CEO, Patrick Mweheire said 2017 was a challenging year, noting that they had to do ‘smart things’ to record impressive
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Umeme Limited has spoken out on President Yoweri Museveni’s letter asking Energy Ministry to look for a cheaper alternative of power distribution. In a letter dated March 13, 2018, Museveni tasked Energy Minister Irene Muloni to explain to him how Umeme’s technical losses still remain as high as 17% yet
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President Yoweri Museveni wants Ministry of Energy to look for a cheaper alternative of power distribution, a move that may see Umeme’s contract not renewed. The President is accusing the South African based company of colluding with officials from the Energy Ministry to inflate its operation costs, which trickles down
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The Uganda shilling inched down undermined by dollar demand from energy and manufacturing sectors. The currency weakened to trade in the range of 3658/3665 at the end of week compared to 3638/3648 at opening. Bank of Uganda (BoU) was in the market mopping excess liquidity. In the interbank money market, overnight
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The Uganda Communications Commission (UCC) Executive Director Godfrey Mutabazi has told telecom firms to phase out the use of Airtime scratch cards, urging them to encourage their customers to use electronic airtime. In a letter dated March 23, 2018 obtained by Business Focus, UCC directs telecommunications companies to phase out
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The Bank of Uganda Deputy Governor, Dr. Louis Kasekende has revealed why Ugandan commercial banks have low appetite to lend to majority Ugandans (Small and Medium Enterprises) is low. “…the informal small and micro enterprises pose very different challenges for the banks. Their revenues are volatile and their long term
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