Kampala, Uganda | THE INEPENDENT | Airtel Africa’s East African operations reported strong growth in the first quarter of 2025, driven by rising data consumption, a growing customer base, and ongoing network investments. Mobile service revenue in the region rose to $498 million from $423 million in the same period last …
Read More »Insurance sector posts 10% growth in premiums to UShs 1.76 trillion
Non-life insurance accounted for 55.95% of total premiums—slightly down from 58.14% the previous year Kampala, Uganda | JULIUS BUSINGE | Uganda’s insurance sector capped off 2024 with an impressive 10% growth in gross written premiums (GWP), rising from UShs 1.60 trillion in 2023 to UShs 1.76 trillion in 2024. This strong …
Read More »World Bank slashes 2025 global growth forecast
Kampala, Uganda | THE INDEPENDENT | The World Bank has slashed its 2025 global growth forecast, citing trade tensions and policy uncertainty. The report released during the week said global gross domestic product (GDP) growth to 2.3 down from the 2.7 percent. Focusing to countries like Uganda or Low Income …
Read More »Experts warn gov’t on unplanned loans
Kampala, Uganda | THE INDEPENDENT | Experts have urged Uganda to avoid taking loans for which they never prepared and planned, as this distorts growth and development. This comes as the country embarks on what many have termed “ambitious”, a journey to grow the economy from the current 53 Billion …
Read More »Africa eyes 4% growth by 2026 as AfDB urges domestic resource mobilization
East Africa is set to lead regional performance, expanding at an average of 5.9 per cent in 2025–26, underpinned by continued momentum in Ethiopia, Rwanda, and Tanzania Abidjan, Côte d’Ivoire | THE INDEPENDENT | Africa’s economy is forecast to grow from 3.3 per cent in 2024 to 3.9 per cent in 2025, …
Read More »Stanbic Uganda posts 16% growth PAT to 478billion
The lender has proposed a total dividend payout of Shs 300 billion to its shareholders reflecting a 7.1% annual increase compared to the previous year Kampala, Uganda | THE INDEPENDENT | Stanbic Uganda Holdings Limited (SUHL), the parent company of Stanbic Bank Uganda and its subsidiaries, has posted a 16.2% growth …
Read More »UEGCL reports 60% growth in net profit to Shs54bn
UEGCL’s remarkable progress in financial growth and energy generation is a testament to Uganda’s commitment to sustainable energy development, according to Minister Nankabirwa Kampala, Uganda | JULIUS BUSINGE | State-owned Uganda Electricity Generation Company Limited (UEGCL) has reported a 60% increase in net profit for the 2023/24 financial year to Shs54 …
Read More »QCIL records over 500% profit growth to Shs 22bn
The company has declared an interim dividend of Shs 3.5 per share, payable on or before December 12 Kampala, Uganda | THE INDEPENDENT | Kampala-based pharmaceutical firm, Quality Chemical Industries Ltd. (QCIL), has posted an impressive Profit After Tax of Shs 22.05 billion for the half-year period ending September 30, marking …
Read More »Ethiopia doubles coffee production
The country’s coffee export revenue has seen substantial growth, jumping from US$700 million in 2018 to US$1.4 billion in 2023 ANALYSIS | AGENCIES | Ethiopian Prime Minister, Abiy Ahmed has announced an impressive achievement of doubling Ethiopia’s annual coffee production from 500,000 tons to over 1 million tons within the last …
Read More »Uganda’s insurance sector sees 12.6% growth in gross written premiums
Non-life insurance continues to dominate the market, holding 58% of the aggregate industry written premiums Kampala, Uganda | THE INDEPENDENT | Insurance companies in Uganda reported gross written premiums of Shs 933.8 billion (approximately US$249 million) in the first half of 2024, according to a sector performance report released by the …
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