What it means for clients and banking sector Kampala, Uganda | JULIUS BUSINGE | Kenya’s I&M Bank has completed the majority acquisition of Orient Bank Ltd from 8 miles LLP and Morka Holdings Limited, executives said on April.30. The Kenyan lender follows the footsteps of DTB, KCB, Equity and NCBA …
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But, it recorded positive growth in assets and customer deposits amidst coronavirus pandemic threat Kampala, Uganda | JULIUS BUSINGE | Standard Chartered Bank has reported a dip in profit after tax by 42% from Shs124bn in 2019 to Shs72bn in 2020, according to its financial results released on Apr.29. Overall …
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Kampala, Uganda | Julius Businge | Uganda Breweries Limited and National Agricultural Research Organisation have launched a partnership by signing a Memorandum of Understanding on cooperation commitment that seeks to establish, foster and promote research and development in the agriculture sector. The MoU signing would promote linkages and partnership for purposes of …
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CNOOC, dfcu points at post Final Investment Decision prospects Kampala, Uganda | JULIUS BUSINGE | dfcu Bank held a half day engagement for its clients and stakeholders in the oil and gas sector on Apr.28 following the government’s bold step to sign key agreements that will see the country get …
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It shrugged off the effects of COVID-19 to nearly double net profit to Shs83bn Kampala, Uganda | JULIUS BUSINGE | Bank of Baroda Uganda has reported a sharp growth in annual profits, as earnings from loans, foreign exchange and market securities helped to offset the hit from the low interest …
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Kampala , Uganda | Julius Businge | Civil Society Organizations are urging the government to focus on issues related to food insecurity, and weak healthcare system as it takes steps to ensure immediate relief and long term recovery during and post-Covid-19 era. The CSOs include SEATINI Uganda, Oxfam, Federation for Small and Medium …
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However, the lender remains strong with its capital growing up to 23%, higher than 12.5% regulatory cap Kampala, Uganda | JULIUS BUSINGE | Absa Bank Uganda Ltd saw its net profit sharply drop by nearly 50% from Shs78bn in 2019 to Shs40bn in 2020 as coronavirus pandemic took toll on …
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Low absorption of loans has led to an increase in the cost of loans hence leading to low returns on public investments Kampala, Uganda | JULIUS BUSINGE | Increasing finance towards the social sectors will improve the livelihoods and incomes of most households as envisaged in the National Development Plan …
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2021 EAC congress of accountants exposes economic integration opportunities Kampala, Uganda | JULIUS BUSINGE | Uganda on April 14-16, hosted the third East African Congress of Accountants to deliberate about economic integration issues. The congress that attracted about 1,000 participants both online and physical, was held at a time Ugandan …
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Uganda Electricity Generation Company Limited through the contractor for the 600MW Karuma Hydropower Dam – Sinohydro Corporation Limited has boosted health service delivery in Masindi district after commissioning Masindi Barracks Health Centre IV. Kampala, Uganda | JULIUS BUSINGE | The health centre, whose construction started in September 2019, cost US$1.7million, …
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The Independent Uganda: You get the Truth we Pay the Price