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Markets
USE to lift Umeme trading suspension on Wednesday
The Uganda Securities Exchange will lift the trading suspension on Umeme Limited this Wednesday, 16 November following the sale of the power utility's shares by its former majority stockholder, Umeme Holdings Limited.
November 14, 2016
Press Releases
Stanbic Bank wins three awards at 2016 Financial Reporting Awards
Stanbic Bank, Uganda’s leading financial institution, emerged the proud winner in three prestigious categories at the 2016 Financial Reporting (FiRe) ...
November 12, 2016
Companies
Markets
NSSF increases Umeme stake to 23% as Actis unplugs from power distributor
The National Social Security Fund will become the majority shareholder in electricity distributor Umeme (UMEM) after agreeing to buy 121.82 million shares from Umeme Holdings Limited for Shs59.4 billion.
November 7, 2016
Press Releases
Stanbic Bank contributes Shs225 million to 2016 MTN Kampala marathon
Stanbic Bank Uganda, a key long term partner and supporter of the MTN Kampala Marathon, has made a significant contribution of Shs225 million towards this year’s efforts to improve access to sustainable sanitation for the urban poor.
November 4, 2016
Markets
CMA approves CIC Insurance shares offer to Saccos and cooperatives
The insurer is seeking to raise Shs7.25 billion in a public offering that will run to 14 April, 2017. It is offering 724,900 ordinary shares at Shs10,000 per share to Ugandan saccos and cooperatives.
November 1, 2016
Economy
Inflation slows to 4.1% in October
Annual headline inflation slowed to 4.1% for the year ended October 2016 from 4.2% in September, according to data from the Uganda Bureau of Statistics. Core inflation however rose to 5.1% year-on-year from 4.1% (revised) in September.
October 31, 2016
Companies
Nakumatt says it is facing cash flow problems, seeks financiers
Nakumatt Holdings, the Kenyan supermarket chain with a presence in Kenya, Uganda, Rwanda, and Tanzania, said in a statement on Thursday that it is facing cash flow problems and is speaking to local and international financiers for a capital injection.
October 27, 2016
Economy
IMF urges curb on government spending, praises BoU policy
Bank of Uganda's tight monetary policy has been successful in bringing down inflation to within target, the International Monetary Fund said on Tuesday. But it also raised concerns about high government spending and lower tax collections.
October 26, 2016
Press Releases
Centenary Bank, ILO partner to train 200 youth in business management
At least 200 youths have received training in costing, budgeting, managing family businesses, book-keeping, and marketing, among others, from Centenary Bank and the International Labour Organisation – Youth Entrepreneurship Facility
October 26, 2016
Economy
Uganda to grow 4.9% in 2016 – IMF
The Uganda economy is set to grow at 4.9% in 2016, according to a report released by the International Monetary Fund, slightly higher than the 4.8% registered in 2015. It also forecasts a real GDP growth of 5.5% in 2017.
October 26, 2016
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