Profits recorded for Ugandan banks in 2017 are set to drop as effects of the hard economic times begin to manifest. In 2016, banks registered huge profits, having concentrated their efforts on recovering Non-Performing Loans (NPLs) while remaining cautious towards lending. Consequently, total industry profit increased to Shs676.73bn in 2016,
Read More
The Lotteries and Gaming Regulatory Board (LGRB) came into existence in 2016 following the enactment of the Lotteries and Gaming Act, 2016. In an interview with Business Focus (BF) on August 15, at their head offices at Communications House in Kampala, Edgar Agaba (EA), the Chief Executive Officer at LGRB
Read More
The Uganda Shilling was broadly stable for the week ending 18th August 2017 supported by inflows from coffee exports and other commodities against very low demand. Trading was in the range of 3695/3605. In the interbank money market, overnight funds traded at 7% while 1 week money traded at 10%.
Read More
Centenary Bank and StarTimes on Thursday signed a partnership that will see the bank’s customers acquire affordable StarTimes high quality digital TV sets and accessories under an Asset Financing Loan Scheme. The deal was inked at Centenary Bnak head offices at Mapeera House in Kampala. Customers will be able to
Read More
Adult HIV prevalence in Uganda is higher among women at 7.5% compared to 4.3% among men, a latest survey about the state of HIV in Uganda indicates. It was also higher among residents of Urban areas (7.1%) compared to 5.5% in rural areas. The Uganda Population HIV Impact Assessment (UPHIA)
Read More
dfcu bank has overcome the challenging economic environment to post an impressive Shs114bn net profit in half year results for 2017, up from Shs23.3bn in June 2016. This impressive performance follows dfcu’s acquisition of Crane Bank early this year-at an undisclosed fee. According to dfcu, certain assets and liabilities acquired
Read More
Stanbic Bank Uganda Ltd (SBU) has recorded Shs95.4bn net profit in its half year results for 2017, down from Shs107.2bn recorded in the year ended June 2016. This represents a decline of 11%. Releasing the results on Tuesday morning at Serena Hotel, Kampala, Patrick Mweheire , the Stanbic Bank Uganda
Read More
VG Somasekhar, who transformed Airtel Uganda, is returning to the telecom firm three years after he was recalled to Airtel Africa head offices as Director – Special Projects. His return could prove to be an industry game-changer considering his history. On Auguts10, 2017, Airtel Uganda confirmed Somasekhar’s return as Managing
Read More
Uganda’s public debt has increased to Shs34trillion according to the ‘State of the Economy June 2017’ report released by the Bank of Uganda (BoU). “The provisional total public debt stock (at nominal value) as at end May 2017 stood at Shs34.0 trillion, an increase of 14.1 per cent relative to
Read More
The banking sector and the legal fraternity in Uganda are mourning the untimely death of Ecobank Uganda Ltd long serving Head Legal & Company Secretary. Annette Mwiriza Mukunda, wife to Julius Mukunda breathed her last on Thursday in India. She was battling Cervical Cancer. “Death has robbed us of our
Read More
