Crown Beverages Ltd (CBL) commonly known as Pepsi has fired top managers, a move that may either create opportunities for its future growth or come with challenges. According to credible sources, the management style of Paddy Muramiirah, the CBL Chief Executive Officer has forced out many top managers, who have
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Shocking details have emerged on why Uganda's President, Yoweri Museveni fired his security chiefs. On Sunday, Museveni fired security Minister, retired Lt General Henry Tumukunde and replaced him with General Elly Tumwine. On the same day, he fired the Police Chief, General Kale Kayihura and replaced him with Okoth Ochola
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The spirited entry into Kenya by multinational chain stores is set to stiffen competition, pitting listed new players against the local family-owned retailers whose footprints hardly go beyond East Africa, Business Daily reports. Last week, Shoprite — Africa’s largest retailer by sales — said it would open its first two
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The pile of Kenya’s bad bank loans rose Sh47 billion (UShs1.74trillion) to Sh259 billion (UShs9.3 trillion) in the year to December 2017, exposing the negative effect that last year’s political turbulence had on the economy, Business Daily reports. The Central Bank of Kenya (CBK) says in the latest credit officer
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Justine Bagyenda, the outgoing Bank of Uganda Executive Director in charge of supervision is not an ordinary woman. She wasn't only an ‘iron lady’ at BoU and the banking sector at large, but she is also aggressive and money savvy woman. This possibly explains how she earned over Shs20bn in
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Barclays Thursday announced that it will lose its 100-year identity. Going forward, Barclays Africa Group Limited will be renamed Absa Group Limited in due course and trade as Absa across its operations (currently branded Barclays) in Africa, pending shareholder and regulatory approvals. This means that Barclays Uganda will now be
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More than 2.5 billion people around the world – many of them in Africa – lack formal identification that enables them to access to financial and government services, according to the United Nations and the ID2020 project. What’s more, less than 10% of adults in low and middle-income countries are
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Kenya's GDP growth is projected to increase to 5.7% during the first quarter of 2018. This is according to ICAEW's (the Institute of Chartered Accountants in England and Wales) latest report. In Economic Insight: Africa Q1 2018, launched today, the accountancy and finance body points to the easing of political
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Bank of India Uganda Limited is on the verge of quitting the Ugandan market, Business Focus has reliably established. An insider at the bank told this site on Tuesday, Feb.20 that the entire banking sector in India is undergoing restructuring. Consequently, Bank of India, a state-owned bank is consolidating its
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Property mogul Sudhir Ruparelia is dancing legal tango with Dfcu Bank, the financial institution that took over management of Crane Bank in January 2017. In a series of separate cases, the businessman through his companies has sued the bank for illegal possession/ trespass on his properties and breach of contract.
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