Currently, the regional insurers commands the largest market share in Uganda’s general insurance business Kampala, Uganda | ISAAC KHISA | Regional insurer, Jubilee Holdings Ltd, is selling between 51% and 66% stake of its operating subsidiaries engaged in short term general insurance business across the region to the Munich-based Allianz …
Read More »‘Need for a paradigm shift to salvage Uganda’s economy
CSOs suggests that the government need to now invest in productive sectors such as manufacturing, trade, health, education and social protection in the wake of COVID-19 pandemic Kampala, Uganda | ISAAC KHISA | Even before the outbreak of coronavirus pandemic, Uganda’s economy was already struggling amidst huge investment in the …
Read More »Telecom firms quarterly revenues cross Shs1tn mark
But there was an increase in expenses on input and wholesale services, salaries and taxes Kampala, Uganda | ISAAC KHISA | Uganda’s telecom sector has posted the highest total quarterly revenues on record, crossing the Shs1 trillion mark amidst the ravaging coronavirus pandemic, according to the latest Uganda Communications Commission …
Read More »Pressure mounts on lenders to cancel Uganda’s $8.5bn debt
The resources meant for debt payment should be channeled into strengthening health care, social protection and economic recovery Kampala, Uganda | ISAAC KHISA | As Ugandan government grapples with external debt repayment, leaving it with limited resources to fight the ravaging coronavirus pandemic and its related negative impacts, financial experts …
Read More »Uganda Clays costs drop, losses up
Uganda Clays Limited, the producer of baked clay building products, has recorded a drop in operating costs but losses increased for the second consecutive year, as it faced stiff competition in the construction sector amidst coronavirus pandemic. Kampala, Uganda | ISAAC KHISA | The company recorded a 6% reduction in …
Read More »Stanbic Bank profits fall as COVID-19 hit
The lender recorded a 4.9% drop in net profit to Shs127.4billion Kampala, Uganda | ISAAC KHISA | Stanbic Bank has suffered a 4.9% drop in pre-tax profit in the first half of the year as credit impairment charge and coronavirus disruption takes toll on the country’s largest commercial lender. The …
Read More »Umeme’s net profit reduces 64% in first half of 2020
Company executives are optimistic the remaining half will see a surge in power sales, profitability as government relaxes COVID-19 lockdown Kampala, Uganda | ISAAC KHISA | Uganda’s electricity distributor, Umeme, is now pinning its profit growth on the remaining six months of the reporting year following government’s move to ease …
Read More »Equity Bank strengthens foot print in DRC with new acquisition
It paid Shs347bn for the 66.53% stake in a DRC bank Kampala, Uganda | ISAAC KHISA | Regional lender, Equity Group Holdings, has completed the acquisition of Banque commercial du Congo, (BCDC) in the Democratic Republic of Congo, further strengthening is foot print on the African market. This follows a …
Read More »Mobile phones start offering third party insurance
The new technology extends relief to insurers to curb industry fraud Kampala, Uganda | ISAAC KHISA | For many years, Uganda’s insurance firms have failed to grow the Motor Third Party Insurance business amidst a surge in the number of vehicles on the roads as a section of motorists resorted …
Read More »Stanbic halts Shs110bn dividend payout over coronavirus
The decision follows BoU’s directive to support cash flow in the economy Kampala, Uganda | ISAAC KHISA | Stanbic Uganda Holdings Ltd (SUHL) has cancelled its proposed dividend payout of Shs 5.06 per share or a total of Shs110bn to its shareholders, citing central bank’s decision to decline to the …
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