Five new oil blocks have been put up for the second licensing round in the Albertine Graben. The announcement of the new five blocks was made by the Minister of Energy and Mineral Development Eng. Irene Muloni (in featured photo) on Wednesday. This was during the 9th East African Petroleum
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Uganda’s banking industry continued to recover from turbulent times in 2018 by posting generally impressive results. According to industry figures analysed by Business Focus, out of 24 banks, 19 banks recorded net profits of Shs790.092bn in 2018 compared to the 17 banks that posted a profit of Shs785bn in 2017.
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The Uganda shilling ended the week ending 3rd May 2019 on a weaker tone on elevated demand mainly from the interbank as the effects of end month conversions that had improved supply conditions in the market were wearing off. Trading was in the range of 3753/63 at close of the
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The Stanbic Purchasing Managers Index (PMI) for the month of April has indicated that there was continued improvement in customer demand and business activity, with job creation recorded in Uganda as a result. Overall workloads increased meaning companies had to take on extra staff. The report further indicates that employment
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Uganda has won Gold in the South African Development Community and Africa category at Africa's premier expo, the Indaba Tourism Fair that concluded on May 4, 2019. This is the third time that the Pearl of Africa is winning big at Africa Travels Indaba having emerged top in 2015 and
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Agribusiness has been touted as a sector that will produce the next generation of billionaires across the world given the increasing global population amidst fixed land and climate change menace. In Uganda, a number of people are increasingly taking on commercial farming. However, some have jumped on this lucrative business
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The 2018 financial results of Centenary Rural Development Bank Ltd commonly referred to as Centenary Bank will leave a smile on its shareholders after the bank posted impressive results again. According to the bank’s financial statements for the year ended 31st December 2018, Uganda’s biggest indigenous bank recorded Shs107.63bn net
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Shareholders of Tropical Bank Uganda Ltd will not be smiling to the bank again after their bank posted losses for the third consecutive year. According to the bank’s financial statements for the year ended 31st December 2018, Tropical Bank losses increased by 4.9% to Shs5.78bn in 2018, up from Shs5.52bn
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Ecobank Uganda is past dark days after posting a net profit of Shs4.78bn in 2018, up from Shs1.54bn recorded in 2017. This means that the bank has now recorded profits for the third consecutive year. The bank’s financial statements for the year ended December 31, 2018 released today indicate that
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Equity Bank Uganda Ltd is increasingly becoming a dominant financial institution in Uganda’s banking industry. Having joined the Ugandan market over 10 years ago, the bank has come up with strategies aimed at making it the number one bank in Uganda in 10 years to come. In a market of
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