Stanbic Uganda’s annual net profit rose
Stanbic Uganda Holdings Limited said its annual net profit rose by 15.2 per cent and was mainly driven by its anchor subsidiary, Stanbic Bank Uganda
Umeme writes off Sh432.9bn as end of service concession nears
Umeme wrote down Shs432.9bn in assets, an increase of Shs272.9bn from the previous year, to reflect the shorter remaining life of its power distribution concession, resulting in a sharp fall in profits
Coffee exports fall at steepest pace since December 2022
Coffee exports fell by the most in fourteen months in February, but higher global prices led to higher earnings
Bank of Uganda to hold emergency rate meeting as shilling slides
The central bank said it would hold an emergency rate meeting on Wednesday, likely in response to the shilling’s depreciation
Business activity continues to grow, but at slower pace
A gauge of activity in the Ugandan private sector declined for the second month in a row, but continued to show expansion
SBG Securities names Grace Semakula as chief executive
Stanbic Holdings Uganda Ltd has appointed Grace Semakula, former investor relations manager at power distributor Umeme, as chief executive of its securities and asset management services subsidiary
Consumer prices grow at fastest pace in six months
A surge in services prices, driven by increases in education and restaurant and accommodation services, pushed inflation to its fastest pace in six months in February
Africa’s debt crisis demands a bold new approach
Africa cannot rely on the global community to provide adequate funding or debt relief to address its development needs and crises, such as pandemics or extreme weather events
Cipla Quality Chemical Industries drops Cipla as part of name change
Cipla sold its stake in the drugmaker last November to Africa Capitalworks SSA 3, a Mauritius-based investment vehicle controlled by a South African equity fund
Construction costs slowed in December
Construction costs rose at the slowest pace in four months in December as prices for inputs used in building construction and building completion and finishing fell
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Bank of Uganda shuts down EFC Uganda, takes control
Bank of Uganda shut down the microfinance institution on Friday, citing failure to meet minimum capital requirements and ‘poor corporate governance’