Russia is looking for another homegrown company to finance and construct Uganda’s greenfield oil refinery, following the exit of RT Global Resources, the consortium led by Rostec, a state defence and technology corporation.
The finance minister, Matia Kasaija on Wednesday tabled a motion requesting Parliament to allow the government withdraw Shs116.6 billion from the Petroleum Fund.
The Bank of Uganda on Wednesday lowered the central bank rate by 100 basis points from 13%, set in October, to 12%. The bank’s monetary policy committee said the rise was necessary to “keep the domestic economic growth momentum.”
The president said that oil is an “enabler” that will bring in “quick money” to work on the weak fundamentals without which the country will not develop.
Uganda exported 209,478 60-kilogram bags of coffee worth $24.23 million in October 2016, a 6.15% decline in volume and 5.97% rise in value compared to the same period last year.
The drugmaker said in a statement that its board is evaluating an initial public offering as part of the company’s growth strategy, and has appointed a book runner to manage the process.
Crested Capital made history by winning the 2016 Financial Reporting Award in the category of “Brokerage Organisations” for Outstanding Achievement in Financial Reporting, at the 6th Edition of Financial Reporting Awards (FiReAwards).
A total of 37,349,155 ordinary shares of Umeme Limited were on Friday opened to retail investors on the Uganda Securities Exchange at a discounted price of Shs488 per share.
Executives at Uganda Telecom Limited have hit back at claims that the telecom is poorly managed, unstable, and in free fall, insisting that it is going through a turnaround that is “pointing in the right direction.”
The Association of Chartered Certified Accountants (ACCA) on Friday, 11 November awarded Centenary Bank with the ACCA Approved Employer Status for Professional Development during the Members Convention gala dinner at Lake Victoria Serena, Kigo.