Uganda Business News | Uganda Business News 29

NIC Holdings warns on 2023 profits

A sign at the entrance of the Uganda Securities Exchange in Kampala

Insurance company says it will report significant decline in earnings for the year to December 2023, blaming economy and costs of implementing new accounting standard

Fixes for Africa’s exploding debt and collapsing currencies

Storm clouds gathering over Accra, Ghana. Nineteen African countries, including Ghana and Zambia, are already in debt distress (meaning they are unable to meet financial obligations) or at high risk of debt distress. Ghana’s public debt has more than doubled since 2012 and amounts to 85 per cent of GDP. Zambia’s went up much higher and stood at 98 per cent as of 2022. Both Ghana and Zambia, along with Ethiopia, have defaulted on their foreign debt, sparking fears about a broader sovereign debt crisis on the continent if more countries fall into debt distress.

Highly indebted African countries face stark trade-offs between servicing expensive debt, supporting growing development needs, and stabilising domestic currencies

Vision Group issues yet another profit warning blaming Covid-19 pandemic

Copies of Uganda's leading English-language dailies, the New Vision and the Daily Monitor, on a newsstand in June 2020

New Vision Printing and Publishing Company issued a profit warning Wednesday, saying it would post a loss for the half year to the end of December

Carrefour to reward customers with up to Shs57mn in prizes as it celebrates four years in business

To celebrate four years in Uganda, Carrefour is giving away Shs1mn to four lucky MyCLUB members every day for 14 days until 13 February, as well as offering discounts on various products

Consumer prices jump, closing door on interest rate cuts

Statistics House in Kampala, headquarters of the Uganda Bureau of Statistics

Consumer prices rose in January on higher transport and other service costs, pushing up the core inflation gauge preferred by policymakers

Uganda stagnates in bottom quarter of anti-corruption rankings

An anti-corruption billboard in rural Zambia

Uganda ranks in the bottom quarter of a global barometer of public sector corruption released Tuesday

Here’s why the ICJ’s genocide ruling won’t change Israel’s behaviour in Gaza

Palestinian flags at a pro-Palestine rally in Johannesburg, 28 October 2023

The International Court of Justice’s ruling on Israel’s behaviour in Gaza will be a hollow victory because global power politics will dilute its impact

Top UN court orders Israel to ‘prevent genocide’ in Gaza, but stops short of calling for immediate ceasefire

The courtroom at the International Court of Justice in The Hague, Netherlands. In a landmark decision, the International Court of Justice in The Hague has ordered Israel to “take all measures within its power to prevent the commission of acts of genocide” in Gaza and to allow desperately needed humanitarian aid to enter the territory. But the court’s “provisional measures” in the case brought by South Africa at the end of December stop short of ordering a ceasefire.

International Court of Justice orders Israel to take all measures in its power to prevent acts of genocide in Gaza and allow humanitarian aid in

Cecilia Atim Ogwal: a fearless politician who spoke her mind and challenged convention

The late Cecilia Atim Ogwal speaking at an FDC event in Wakiso, November 2023. One of Uganda’s longest-serving female legislators, she passed away on 18 January 2024 at the age of 77. Ms Ogwal was a trailblazer, known for her strength, charisma, and leadership in the opposition. She was a staunch defender of multipartyism, democracy, and human rights. Known for her toughness, she fearlessly stood up to male leaders in the ruling party and her own party, earning her the nickname 'iron lady' in Uganda.

Cecilia Ogwal was a trailblazer, known for her strength and charisma as an opposition leader, and a staunch defender of multipartyism, democracy, and human rights

SMEs trained to tap into oil and gas opportunities

Participants at a capacity building training programme conducted by Stanbic Business Incubator Limited for small and medium enterprises interested in bidding for contracts on the proposed East African Crude Oil Pipeline (EACOP) project.

130 small and medium business owners trained by Stanbic Business Incubator to win contracts along the proposed East African crude oil pipeline