Airtel stock subdued in debut week
Few takers for Airtel’s shares despite no shortage of offers, as IPO investors looked to cash in their bonus stock
Uganda Business News
Uganda refused use of Kenya’s pipeline in Vitol deal
Unoc failed to meet licensing requirements for certain annual petroleum sales in Kenya, operation of five service stations and a depot in Kenya
Merchandise exports surge in September as gold shipments rise
Trade deficit narrows to $296.4bn from $349.7bn the previous month
Olea Insurance expands into Uganda with Ballpark Insurance Group stake
Deal to buy Ugandan firm is latest move by French insurance broker to expand its African footprint, which now spans 25 countries
Lending to private sector accelerated to four-month high in September, BoU data shows
Private sector credit grew at its fastest pace in four months in September, providing a much-needed boost after a quarter in which the indicator recorded its slowest expansion since the second quarter of 2021
What the World Bank’s aid freeze says about the struggle over funds and sovereignty
Despite its insistence on national ownership of its projects, the World Bank uses its loan portfolio to govern and control its clients
Nigeria’s Agusto affirms Shelter Afrique ratings, stable outlook
Nigerian rating agency affirms A (Kenya) and A+ (Nigeria) ratings to Nairobi-based Shelter Afrique Development Bank, which focuses on supporting housing and urban growth across the continent
Airtel IPO slim by Shs588.6bn
NSSF sole institutional investor in the offering, buying 52.75% of the available shares – and 96.9% of total shares sold
Liquid Intelligent Technologies appoints Michael Mukasa as chief
Mr Mukasa replaces Dennis Kahindi, who joined Airtel Uganda in July
Vitol deal long overdue response to high Kenyan fuel prices – Museveni
President says Uganda’s decision to give Vitol exclusive rights to supply fuel was to eliminate exorbitant fees charged by Kenyan middlemen