Company profile: Umeme Limited
Umeme Limited is the main electricity distribution company in Uganda operating on a 20-year electricity concession from the Government of Uganda effective 1st March 2005
Uganda Business News
Uganda to award three exploration licences in June
Uganda will issue three exploration licences and sign Production Sharing Agreements (PSAs) with three oil companies that made it to the last round of the first competitive licensing process, opened in February 2015.
IMF calls for more intrusive bank supervision, and revises down growth forecast
The International Monetary Fund is the latest institution to downgrade Uganda’s growth projections for the current financial year, following similar updates by the World Bank and the Bank of Uganda.
Newspaper circulation: Bukedde, New Vision make gains in Q1 as Monitor drops
Vision Group titles performed well in the first quarter, picking up subscribers, while Daily Monitor continued to shed them, data from South Africa’s Audit Bureau of Circulations shows
Crane Bank Rwanda to be sold to CBA — report
Crane Bank Rwanda is to be acquired by the Commercial Bank of Africa, according to a report by Rwanda’s New Times newspaper.
To cut costs, Nakumatt will close more poorly performing branches in Uganda and Kenya
Nakumatt Holdings, the Kenyan retailer, has said it plans to close more branches in Kenya and Uganda in a restructuring exercise it says will save it Shs52.8bn (KShs1.5bn) annually.
Export growth robust in March as trade deficit narrows
Uganda’s exports grew by 20.7% year on year in dollar terms in March while the cost of imports increased by 6.2%, according to statistics from Bank of Uganda.
NSSF wins pan-African infrastructure investment award
The National Social Security Fund (NSSF) Uganda has won the Africa Pension Fund Infrastructure Investment Initiative of the Year Award, ahead of other pension funds on the continent.
Commercial bank lending growth slows in March
Commercial banks’ lending to the private sector in March expanded by 6.2% year-on-year, less than February’s 7.5% rate, but still the sixth consecutive month credit growth has been positive.
Securities trading income boosts Bank of Baroda profits
Bank of Baroda reported a 19.70% rise in after-tax profits for 2016, on the back of a bumper performance in its treasury department, financials released on Friday showed.