Mauritian based investment company, Africa Capitalworks SSA 3, has completed the acquisition of 51.18% stake in CIPLA Quality Chemical Industries Limited. Africa Capitalworks SSA 3 (ACW SSA 3) acquired 1,864,299,646 and 4,871,038 Ordinary Shares of Cipla Quality Chemical Industries Limited (QCIL) from Meditab Holdings Limited and Cipla (EU) Limited, respectively, collectively comprising
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Kenya Agricultural Commodities Exchange Goes Live Next February, Produce To Be Drawn From Kenya, Uganda & Rwanda
Kenya’s planned agricultural produce exchange is scheduled to go live in February next year, the Trade and Investment Ministry said in a disclosure. The ministry said the Kenya National Multi Commodities Exchange (Komex) is scheduled to commence mock trading on January 29, 2024 and go live on February 26, 2024.
Read MoreUganda Clays Limited has issued a profit warning, revealing that it made a loss for the half-year January – June 2023, according to the Company’s unaudited financial statements. “The loss position is mainly due to a shortage of products that was occasioned by machinery breakdowns. This was exacerbated by the unfavorable
Read MoreNathan Igeme Nabeta, the Jinja East Municipality Member of Parliament has asked the Speaker of Parliament to apply the rules of the House allowing debate of the Capital Markets Authority Amendment Bill without a certificate of financial implications. The government, through the Ministry of Finance, Planning and Economic Development has
Read MoreAirtel Uganda Chairman Karuhanga, flanked by MD Murali and Finance Director Mohan Airtel Uganda Ltd has confirmed its intention to list on the stock market of Uganda up to 20 percent of its shares, totaling 8 billion Shillings. The company, wholly owned by Airtel Africa plc, is due to publish
Read MoreThe total value of the companies listed on the Uganda Securities Exchange (USE) dropped by 10.5 percent in the last quarter of this year (April-June) mainly due to the turmoil in Kenya, according to the Capital Markets Authority (CMA). The total market capitalization decreased to 17.7 trillion shillings at the
Read MoreBAT Uganda Shareholders Approve Shs10.3bn Dividend For 2022 As Company Marks Its 95th Anniversary
BAT Uganda Directors, Candy Wekesa Okoboi (L), Philemon Kipkemoi (C), and Mathu Kiunjuri (R) joined by two of the Company’s shareholders Dr. Zaalyembikke Majanja (2nd L) and Ms. Bazalaki Robinah Walusimbi (2nd R) to cut a cake as part of celebrations to mark 95 years of BAT in Uganda. This
Read MoreUganda has emerged as the fastest-growing source of diaspora dollars flowing into Kenya. FILE PHOTO | SHUTTERSTOCK Uganda has emerged as the fastest growing source of diaspora dollars flowing into Kenya at a time the remittances from top global sources are slowing down on inflationary pressures squeezing earnings for citizens
Read MoreThe Ministry of Finance, Planning and Economic Development has proposed to make amendments to The Foreign Exchange (Amendment) Act 2023, which would see the capital requirement for one to establish a foreign exchange bureau increased from the current Shs50M to Shs200M. Currently, Bank of Uganda requires forex bureaus to have
Read MorePresident William Ruto has asked African leaders to take first steps towards ditching the globally-bullish US dollar. President William Ruto has asked African leaders to take first steps towards ditching the globally-bullish US dollar by signing up to a pan-African payments system to facilitate trade within the continent. Dr Ruto
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