The Uganda Securities Exchange (USE) has received a formal approval from the Capital Markets Authority (CMA) to operate a demutualised stock exchange. This means that USE will become a company limited by shares with a change in its governance and managerial structure. Previously, USE has been a mutual company limited
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Ministry of Finance, Planning and Economic Development officials are set to be grilled by Parliament after Speaker Rebecca Kadaga summoned them to explain the whereabouts of Shs39bn gratuity funds of ex-employees of the defunct East African Airways Corporation (EAAC). This is after the ex-workers petitioned the speaker on Tuesday, demanding
Read MoreUgandan consumers are literally spoilt for choice as more internet providers unveil unique products and services. The latest is Wananchi Cable Uganda Ltd that launched its operations in Uganda on Tuesday with the introduction of the super fast internet speed of 100 Mbps. The service will be offered through Wananchi
Read MoreThe Bank of Uganda (BoU) has reduced the Central Bank Rate (CBR), a benchmark lending rate for commercial banks, to 9.5% in October, down from 10% in August 2017. This means that commercial banks are expected to follow suit by reducing on their interest rates charged on borrowers. Releasing the
Read MoreEcobank has partnered with Visa to launch Ecobank Scan+Pay with mVisa solutions to their consumers. The strategic tie-up signals interoperability on a cross border level – and potentially huge gains – as it affords consumers with the ability to use their mobile phone to directly access the funds in their
Read MoreA top Kenyan based milling company has ceased operations in Uganda where it made losses three years in a row, a development that will leave many Ugandans jobless Unga Group Uganda operation lost KSh118.9 million in the year ended June, contributing to the parent company’s slip into a net loss
Read MoreThe Rwandan government has auctioned a prestigious shopping mall in Kigali belonging to Tobacco tycoon Tribert Rujigiro Ayabatwa. According to a report by Xinhua News Agency, the popular Union Trade Center (UTC) which is located in Kigali’s Central Business District, was auctioned off last week to a local real estate
Read MoreNakumatt Supermarket has closed its Junction branch in Nairobi, even as the retailer banks on cash injection from a new strategic investor to address its frequent stock outs at its outlets, reports the Daily Nation. In a public notice released Sunday, the cash-strapped retailer said it had relinquished its rights
Read MoreJames Kakooza, the Kabula County Member of Parliament in Lyantonde district has survived lynching for supporting the scrapping of the presidential age limit. Kakooza is one of the mourners who turned up at Nakawanga village in Kisekka Sub County in Lwengo district for the burial of 76-year- old Vincent Nsamba,
Read MoreSocial Media is awash with speculation about the likely cause of death of Kampala Capital City Authority (KCCA) official, David Ntege with many claiming he could have succumbed to a broken heart. According to a statement issued by KCCA, Ntege died at Nsambya Hospital in the capital, Kampala although the
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