MTN Uganda, the country’s biggest company by revenue, has appointed Wim Vanhelleputte as its new CEO, company sources told Uganda Business News. A formal announcement is expected to be made soon. The Belgian is expected to start work on August 1.
A year after government increased the single entry visa fee to $100 from $50, it reversed the decision. The new rate, $50, became effective on 22 July. Tourism operators and other stakeholders welcomed the announcement enthusiastically, saying it made Uganda more competitive in the region. But will the reduction in the fee increase the number of tourist arrivals?
Uganda Breweries Ltd is a beverage company. It is one of Uganda’s largest breweries, manufacturing beers, spirits, and non-alcoholic beverages. It owns and markets a number of beers such as Bell Lager, Senator Lager, Pilsner Lager, Ngule, Tusker Lager, Tusker Lite, Tusker Malt Lager, Guinness.
Inflation fell to 5.1% year-on-year in July from 5.9% in June according to data from the Uganda Bureau of Statistics, setting the stage for a third consecutive rate cut when Bank of Uganda’s Monetary Policy Committee meets in mid-August.
Uganda Revenue Authority missed its tax collection revenue by Shs404.54 billion in the 2015/2016 financial year that ended in June, putting a number to the extent of the slowing economy.
British American Tobacco Uganda Limited reported a 52% decline in half year profits on Thursday, reflecting the change in its business model that saw the company discontinue its leaf business.
Tullow Oil has announced an after tax profit of $30 million for the first half of 2016, defying analyst’s expectations that low oil prices would hurt its bottomline.
Paulsen joined Vivo Energy in 2013, a couple of months after the company had taken over Shell operations in Uganda in February 2013. He took over from Ivan Kyayonka.
Total E&P Uganda is an oil and gas exploration and production company, founded in 2010 as the operator of Exploration Areas 1 and 1A following the discovery of commercially viable oil resources in the Albertine Region.
Nile Breweries Limited is a beverage company, and one of the largest beer manufacturers in Uganda. It invested $29 million at its Jinja plant to increase capacity in 2009, and opened a second brewery in Mbarara four years later that was expected to double capacity; the plant was constructed at a cost of $91 million.