A month after dfcu bank acquired the assets and liabilities of Crane bank-at an undisclosed fee, it (dfcu) has announced that it has got a capital boost of US$50M (about Shs179bn). In a statement dated February 28, 2017, the bank revealed that it has concluded an agreement with Arise B.V,
Read MoreThe Uganda Shilling depreciated marginally against the US dollar mid-week as commodity flows reduced and corporate demand slightly picked up during the week ending March3, 2017. Trading was in the range of 3585/3595. In the government securities market, yields on 91 and 182 day treasury bills dropped to 11.962% and
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Uganda’s pension sector is set to become more competitive with the launch of Kampala City Traders Association (KACITA) - Uganda Provident Fund Scheme – TEGEKA which targets to mobilize savings and investment capital from over 65,000 registered members. The Fund, which provides a new vehicle of saving for traders and
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The Government of Uganda will on Tuesday next week release a report on the status of Uganda’s economy. This comes following media reports that the economy has collapsed given the number of companies that have gone under in past few years. Crane Bank, the then 4th largest bank by assets
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The ongoing Shs6bn oil handshake probe by the Parliamentary Committee on Statutory Authority and State Enterprises (COSASE) continues to unearth shocking secrets. Appearing before COSASE on Thursday, Kampala Capital City Authority (KCCA) Executive Director, Jennifer Musisi shockingly revealed that she regrets taking over KCCA’s top job. Musisi was responding to a
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Troubled Uganda Telecom Ltd (UTL) needs a capital injection of US$48m (Shs172bn) if it is to survive the current storm. This was disclosed by the company management on Thursday at a press briefing held at the telecom’s head office in Kampala. Responding to Business Focus’ question on the amount needed
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A number of Ugandan companies and individuals are missing out on oil cash (even when oil starts to flow) because of failure to meet the high standards required in the oil sector. This was disclosed by Fred Kabagambe Kaliisa, the former Permanent Secretary Minister at Ministry of Energy and Mineral
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To match up with tends and competition, the Cooper Motors Corporation (CMC) Uganda Limited has opened new service centres across the country to ease access to services by its customers. The service centres are located at Comboni Vocational Institute in Gulu and Friends Motor Garage Mbale. In Mbarara, the
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MTN Uganda has launched Women in Business Awards 2017. The awards are meant to honour women especially those engaged in small to medium business. This comes at a time when the world gears to celebrate International Women’s Day scheduled for March8, 2017. According to MTN, these awards celebrate the achievements
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British global insurer AON has quit 10 African markets including Uganda, citing weak economy that can’t permit its growth. According to a February 20, 2017 statement, Capitalworks, a leading Africa focused and based private equity firm specialising in investing on the continent, is to acquire AON’s shareholding in 10 countries
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