2017 was a tough year for Uganda’s banking sector just like the past five years. However, the results commercial banks have been releasing in the past two months indicate that the sector is slowly recovering from the 2011 crisis when inflation and interest rates hit 30%, a thing that resulted
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Banks have in the last two months been releasing their financial results for the year ending December 31, 2017. The results obtained and analysed by Business Focus indicate that the banking sector is yet to fully recover from the 2011 crisis that saw inflation cross the 30% mark, a thing
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India and Uganda top the list of the fastest growing economies up to 2026, predicted at 7.9 and 7.5 percent annually, respectively, a latest report by Center for International Development at Harvard University (CID) reveals. The report was released on May 3, 2018. After a decade of growth driven by
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It has never been like right now that the Ugandan football brand needs the Express brand. On our road to recovery of league football, an indigenous football club, a continental brand with arguably the biggest history and following is needed in the mix of football rivalry which is the DNA
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Poor Africans continue to have bigger families compared to their rich counterparts. The State of Uganda Population Report 2017 indicates that Ugandan women have a high fertility rate, with each woman producing on average five children in their lifetime. This, the report notes, translates into a high dependency syndrome that
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Guaranty Trust Bank Uganda (GTBank) Ltd has appointed Lekan Sanusi as its new Managing Director. His tenure took effect on April 23, 2018. Sanusi replaced Olufemi Omotoso, who has since returned to the bank's head offices in Nigeria. Sources say Omotoso's contract expired last year and declined to renew it. [caption
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Government’s new tax proposals in the 2018/19 budget have come under scrutiny, with tax experts wondering whether government was properly advised. Some of the contentious tax proposals include the Shs200 daily tax on social media, reinstatement of corporation tax on SACCOs making profits and 1% tax on Mobile Money transactions
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In 2017, Kenya, the only middle-income economy in the East African region, embarrassingly struggled to feed herself. As food security deteriorated to a 10-year low, the country turned to her poor neighbours including Uganda and Tanzania to plug the deficit, reports the Standard. But the search for missing food did
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Crane Bank acquisition by dfcu on February 27, 2017 at a paltry fee of Shs200bn has elevated it to the table of big boys in the banking industry, Business Focus exclusively reports. Before the acquisition, dfcu wasn’t among the top five banks in Uganda. It was competing for the 6th
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By Godfrey Ssenteza Small and Medium Enterprises (SMEs) constitute 99.95% of all companies in Germany. There are 3.67 million SMEs in Germany employing 68% of the working population of the country. The SME sector is thriving in this part of the world. With an annual turnover of up to 500m
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