Stanbic, Uganda’s leading bank recorded slow growth in the first half of 2018, according to the results released by the financial institution at Serena Hotel on Wednesday morning. The bank’s profit after tax increased by Shs1bn to Shs96bn in June 2018, slightly up from Shs95bn in June 2017. The bank’s
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Uganda earned US$3.339bn (Shs12.3 trillion) in 2017 from her exports combined, up from US$2.921bn (Shs10.7 trillion) in 2016, according to latest figures released by the Bank of Uganda (BoU). Cash crops contributed greatly to the above earning. For example, coffee beat gold exports to emerge Uganda’s top foreign exchange earner.
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Uganda’s banking sector has been sluggish since 2011 due to high Non-Performing Loans (NPLs) and bad loans written. High interest rates and a sluggish economy have forced many borrowers to default on their loans, a thing that has seen some banks collapse. National Bank of Commerce, Global Trust Bank and
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On July 27, 2018, Powah Limited, a Ugandan solar solutions company received US$25,000 ( about Shs92.5m) grant from Trade and Development Bank (TDB) Group to construct and design a solar run lab and livelihood centre in Nakivale Refugee Settlement. The hub is a livelihood centre constructed and developed from a
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The private sector has continued to register positive growth with the eighteenth successive improvement in business conditions according to the latest Purchase Managers Index (PMI) for July. At 53.2 recorded in July, the private sector maintained the same positive performance score card that was seen in June and remaining above
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Equity Bank Uganda will play a key role in the final stages of Uganda’s oil and gas sector. Addressing the press at the launch of the bank’s new head office at Church Hose Building located along Kampala road on Friday , Dr. James Mwangi said contractors and suppliers in the
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The Uganda shilling was relatively stable supported by end month flows from charities amid subdued demand during the week ending 3rd July 2018. Trading was the range of 3690/3700. In the interbank money market, overnight funds traded at 6% while one week traded at 9%. In fixed income market, Shs
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Two government agencies, Uganda Revenue Authority (URA) and Uganda National Bureau of Standards (UNBS) have assured Ugandans that there is no ‘bad’ sugar on the Ugandan market. This is after a government newspaper, The New Vision run a story on Friday 3rd August, 2018 titled “BANNED KENYA SUGAR SNEAKED INTO
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A new report has revealed that the increasing number of foreigners engaging in petty trade has infringed on the economic space and livelihoods of Ugandan citizens. These aliens (foreigners) range from refugees, commercial and professional immigrants and even illegal immigrants in some cases. This revelation is contained in report of
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Nicholas Kasozi has signed a three-year deal with KCCA FC becoming the club’s fifth signing since the break, the Club said on its official website. Kasozi who plays as a defensive midfielder spoke to KCCA FC website shortly after signing. “This is a dream come true for me as a
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