Christine Lagarde says government need to focus on reducing inequality The International Monetary Fund Managing Director Christine Lagarde on Jan. 27 found herself on the defensive as the audience sought for the global fund’s roles on Uganda’s development. This was during a public lecture held at the Kampala Serena Conference …
Read More »EABL registers a 2% growth in profit after tax to Shs 188bn
Shareholders of the regional beer maker, East African Breweries Limited (eabl) are set to receive a dividend of Kshs 2 (Shs 68) per share even as the company recorded a 2% growth in profit after tax to Shs 188bn in the second half of the year ending December 31, 2016 …
Read More »Bad news: IMF is back
Lagarde is visiting when the government is desperate for new money but in no mood to listen. Usually that means no deal but possibly not when the IMF and Museveni need each othe. Meetings between teams from IMF and planners of Uganda’s economy, especially President Yoweri Museveni, have historically involved …
Read More »Uganda eyes 15% raise in spending to Sh30.2 trillion for 2017/8
Private sector say government proposal to increase domestic borrowing from Shs1.3trillion to Shs1.4 trillion will deny them of cheap financing during the year Uganda has once again released its budget proposal for the next financial year, raising government spending 15% to Shs30.2trillion in the fiscal year from July, with bulk …
Read More »Tullow Oil exiting Uganda’s oil sector?
Oil pundits sees Tullow Oil plc.’s new share sale a strategy to exit the country’s oil sector London-Based Tullow Oil plc’s announcement that it is once again scaling down its stake in Uganda’s oil development, shedding off nearly two thirds of its shareholdings to the rival firm, Total E&P for …
Read More »Banks optimistic of a better year
BoU cut its central bank rate from 13% in October to 12% in December to stimulate economic activities As 2017 business starts commercial banks are optimistic that the sector will register a surge in profitability on the back of improving economy and a reduction in Non-Performing Loans. Speaking to The …
Read More »BUSINESS: Economy to rebound?
Business captains punch holes in Bank of Uganda projections Uganda’s economy is expected to pick up steam this year, boosted by public infrastructure spending and easing of the monetary policy to stimulate economic growth. At least that is the view of Bank of Uganda Governor Emmanuel Mutebile. Mutebile spewed his …
Read More »2016: Bankers divided on impact of miserable year
Non-performing loans more than doubles to 7.7 %, Crane Bank sinks As 2016 comes to an end, it is clear that it has been a year in which the banking industry choked on surging losses on the back of bad loans. One of the biggest banks; Crane Bank, suffered a …
Read More »Price surge in basic commodities ahead of Christmas
Festive season and prolonged drought push prices high This year’s Christmas may not be merry as many could hope as prices for specific basic commodities increases ahead of the big day, The Independents analysis shows. The price of sugar has increased from Shs 3, 200 to Shs 5,000 per kilogramme …
Read More »ANALYSIS: Uganda Telecom troubles
Cash strapped UTL managers chase capital to fund three years turnaround strategy Uganda Telecom is one of the oldest telecom companies in the country and the third in terms of subscriber base now standing at less than two million out of the 22.97million mobile phone users, writes Julius Businge. Owned …
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