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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
Markets
Property
Coming soon to Uganda’s stock market: Real Estate Investment Trusts
In about two months, Uganda's stock market will be able to list a new security that makes it possible for institutions and individuals to invest in real estate, and earn high dividend yields that are exempt from taxation.
October 24, 2016
Companies
Markets
Uganda Clays MD on NSSF debt and turnaround strategy
Uganda Clays managing director, George Inholo is so confident of the roofing tiles maker’s prospects that he is not anxious about NSSF's recent decision not to turn all of its debt to equity. The company finally turned a profit in the first half of this year.
October 19, 2016
Companies
Markets
CIC Insurance aims to raise Shs7.25bn in share offering to cooperatives and saccos
CIC Africa Insurance (Uganda) Ltd is offering 724,900 shares to cooperatives, unions, and savings and credit cooperative societies based in Uganda, the insurer said in a statement. The ordinary shares will cost Shs10,000 each.
October 18, 2016
Companies
Corporate earnings and results
Printing keeps New Vision in black ink with Shs4.9bn profit
Profit before tax was flat at Shs7.4bn and the company had Shs5bn in cash and cash equivalents, down from Shs10.7bn at the end of last financial year. Cash from operating activities moved significantly from Shs14.1 billion in FY2014/15 to Shs2.5 billion.
October 6, 2016
Companies
Corporate earnings and results
Bank of Baroda half year profit up 28%
Bank of Baroda Uganda posted after-tax profits of Shs24.98 billion in the first half of this year compared to Shs19 billion in the same period last year, a growth of 28.59%, according to unaudited results released today.
September 28, 2016
Companies
Corporate earnings and results
NIC reports 132% growth in half year profit
NIC Holdings Limited (NIC) reported a 132.81% growth in half year profit to Shs4.44 billion ($1.31 million) compared to Shs1.91 billion in the first half of 2015, unaudited results released on Monday show.
September 27, 2016
Markets
Movers & Shakers
Joseph Kitamirike on Uganda’s financial markets and ALTX East Africa
We spoke to Joseph Kitamirike about his new stock exchange, ALTX East Africa, which started trading recently. He told us about setting up the exchange, his tenure at Uganda Securities Exchange, and what he hopes to achieve with ALTX.
September 13, 2016
Markets
Newest stock exchange starts trading
"ALTX has successfully listed 25 debt securities and has so far activated three maturing February 2019, November 2018 and May 2021," ALTX Chief Executive Officer Joseph Kitamirike said in a statement.
September 6, 2016
Corporate earnings and results
Markets
Umeme HY2016 profit falls to Shs54.5bn on financing costs
Umeme’s revenue grew 20.3% to Shs658.7 billion ($195.5m) in the first half of 2016 on higher power sales but net profit fell from Shs67.6bn to Shs54.5bn ($16.2m) on increased financing costs and a normalised tax rate, half-year results released today show.
September 5, 2016
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