The Stanbic Purchase Managers Index (PMI) survey report for April shows there was deterioration in business conditions following the lockdown that started on 24th March 2020. The lockdown was brought in to try and prevent the spread of the coronavirus disease 2019 (COVID-19) in Uganda. The headline PMI registered 21.6
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Ecobank Uganda Managing Director, Clement Dodoo The future of Ecobank Uganda is undoubtedly bright after the pan-African bank consolidated growth over the last four years. Headed by Clement Dodoo (pictured) as Managing Director and Annette Kihuguru as the Executive Director, Ecobank’s total assets grew by 61.4% to Shs671.3bn in the
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Abdulaziz M.A. Mansur, the Tropical Bank Managing Director Tropical bank turnaround isn’t about to happen. The troubled financial institution continues to post losses. Tropical bank 2019 financial results show that the bank’s losses increased by 314.3% to Shs23.95bn in 2019 from Shs5.78bn loss recorded in 2018. The bank has been
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https://youtu.be/ediyU-iasRk A Tax Clearance Certificate is confirmation from Revenue that your tax affairs are in order. An application for a Tax Clearance Certificate will enable you to reduce tax burdens where one is prompted to clear up any tax obligation(s) in the course of the year before obtaining the certificate. It also facilitates easy acquisition
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The COVID-19 pandemic has adversely affected the global and local economy. A number of people are feeling pressure in their pockets during to the lockdown but the post lockdown future looks bleaker. For farmers and people who are passionate about agribusiness, this is the time to think about crops that
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EU Head of Delegation to Uganda, Ambassador Pacifici (L) and Minister Kasaija after signing the deal The European Union has today approved to finance the project for the rehabilitation of the Tororo-Gulu railway. A grant of EUR 21.5 million (UShs91bn) will be disbursed from the European Development Fund (EDF) to
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Absa Bank Uganda has today released its financial results for 2019 reporting a 19.4% growth in revenue to UGX 405 billion, up from UGX339 billion in 2018. “We saw steady growth in the bank’s balance sheet and income in 2019. We continue to drive cost efficiencies and manage our portfolio
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Uganda’s coffee exports in March 2020 amounted to 477,561 60-kilo bags worth $45.87M (Shs174.5bn), Uganda Coffee Investment Authority (UCDA) monthly report has revealed. It comprised 385,978 bags ($33.09M) of Robusta and 91,583 bags ($12.78M) of Arabic. This was an increase of 38.39% and 35.72% in quantity and value respectively from
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Housing Finance Bank boss, Michael K. Mugabi Housing Finance Bank (HFB), one of the few indigenous commercial banks in Uganda that have withstood the test of time continues to post consistent growth. According to the Bank’s Audited Financial Statements for 2019, the bank’s profit after tax grew by 7.6% to
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PSFU Board Members in a group photo with Prime Minister, Ruhakana Rugunda and ex members at last year's Annual General Meeting Private sector players under their umbrella body, Private Sector Foundation Uganda (PSFU) have revealed plans and measures on how Uganda’s economy can recover from the toxic effects of COVID-19.
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