Allowances were the most common employment benefits for permanent staff, offered by 67.6% of establishments, a survey by the Uganda Bureau of Statistics found.
Birbal Singh Dhaka, who was managing director from December 2013, left the position.
Economic growth in sub-Saharan Africa will slightly pick up in 2017 following its worst decline in more than two decades in 2016, according to a World Bank report released Wednesday.
Arise B.V., an investment company based in Cape Town, has acquired a majority stake in dfcu Limited, the holding company of dfcu Bank.
The Finance Ministry is proposing to grant tax relief to 15 companies and organisations in 2017/18, according to a presentation made by the minister of state for planning, David Bahati, before Parliament’s budget committee.
Kenya’s interest rate cap law has had “unintended negative consequences” on credit availability for small and medium-sized firms, and is also undermining the effectiveness of monetary policy, according to the IMF.
Bank of Uganda on Wednesday reduced the policy lending rate by 0.5% to 11% citing an improved inflation outlook and the need to support private sector credit and economic growth.
Housing Finance Bank reported a 22.9% jump in net profits for 2016, helped by a decline in its income tax expense, and a rise in interest income driven by higher returns on investment securities.
Exim Bank became the first bank to report a loss for 2016, as a dip in activity dragged down its revenues. Profit after tax fell 275% compared to 2015, to a Shs4.1bn loss, because of a decline in revenue to Shs32.5bn from Shs36.3bn in 2015.
The new executive director of the Uganda Investment Authority says she wants to transform the authority into a “robust organisation” with the capacity to make Uganda a globally competitive investment destination in her first 100 days.