Nakumatt Holdings, the Kenyan supermarket chain with a presence in Kenya, Uganda, Rwanda, and Tanzania, said in a statement on Thursday that it is facing cash flow problems and is speaking to local and international financiers for a capital injection.
Bank of Uganda’s tight monetary policy has been successful in bringing down inflation to within target, the International Monetary Fund said on Tuesday. But it also raised concerns about high government spending and lower tax collections.
At least 200 youths have received training in costing, budgeting, managing family businesses, book-keeping, and marketing, among others, from Centenary Bank and the International Labour Organisation – Youth Entrepreneurship Facility
The Uganda economy is set to grow at 4.9% in 2016, according to a report released by the International Monetary Fund, slightly higher than the 4.8% registered in 2015. It also forecasts a real GDP growth of 5.5% in 2017.
Atlas Mara, the financial services group that has been named as one of the possible buyers of Crane Bank, released unaudited 3rd quarter financial statements showing a 77.5% year-on-year drop in after tax profit for the nine months ended 30 September.
The Central Bank released a statement on Monday disputing social media rumours on the state of the financial sector. Signed by the bank’s director of communications, the statement says “the financial sector as a whole is stable, sound and resilient.”
The National Social Security Fund managing director has said the Fund projects a 15% increase in member contributions this financial year from what it registered last financial year.
African policy makers are increasingly called on to use evidence-based research to inform development decisions. But this requires the rigorous collection of data as well as a coordinated system to disseminate it.