This shows a Debt-to-GDP ratio of 45.5 per cent in contrast to earlier estimates of almost 50 per cent, which had been stated by the Ministry of Finance, Planning and Economic Development. During the year, the economy grew to 148 trillion Shillings from 139.7 the previous year.
Read more ...The operators say that since the first lockdown, cost of the fuel they consume for a particular route has been increasing, yet they cannot increase the fares beyond the current rates. The numbers have also been affected by the changing lifestyle among Ugandans and economic structure of the country, among others, which have seen people reduce their reasons for travel.
Read more ...The debate on the Boda Boda industry has been revived following the lynching of a motorist in Rubaga Division by a mob on Sunday after he allegedly knocked two motorcycles.
Read more ...The ministry says that they are ready to start releasing money for the Parish Development operationalization but districts and other Local Government units are not yet ready with the necessary requirements.
Read more ...Romania is offering to give both technical and market linkage support, while Uganda should be be able to develop it products for the market. NITA-U Executive Director, Hatwib Mukasa says Romania’s partnership with Uganda will open up the foreign market for Ugandan IT innovators or developers in Europe because it its status as a hub of innovation in Europe.
Read more ...In the notice of intention to take over the fuel company, the lawyers; Ligomarc Advocates, said they had appointed Kabiito Karamagi as receiver for MOGAS, whose full name is Maestrol Oil and Gas Solutions, until the bank recovers all its money. THe notice has also been received by the Uganda Police Force.
Read more ...Earlier this year as economies picked up, pump prices in Uganda rose sharply from 3,700 Shillings to 4,150 Shillings per litre of petrol at Shell and Total stations and have been largely stable since April. New tax measures also saw a 100 Shillings increase in the Excise Duty per litre, although this did not take immediate effect on the prices, at least in the first two months of the financial year.
Read more ...Centenary Bank MD, Fabian Kasi says as the risk levels increase, the banks have no option but to be more cautious about lending, but also advises businesses to also consider risk a major component of their business planning.
Read more ...Prof Kaawaase says that such institutions, including Crane Bank which is still a center of conflict between Bank of Uganda and the bank’s shareholders, always have audit reports with unqualified opinion of the auditors, on such institutions’ financial positions.
Read more ...Uganda Securities Exchange handled companies whose total capitalisation is about 4.3 trillion shillings, compared to MTN’s 4.5 trillion shillings. The company handles mobile money transactions worth 100 billion shillings daily, and by the end of 2020, it was holding 655 billion shillings in mobile money deposits, up from 450 billion in 2019.
Read more ...The testing of the products has often been delayed because of the movement of samples from the production sites to the UNBS testing labs in Kireka, which led to more expenses on the part of the producers.
Read more ...With 4,477,808,848 ordinary shares being offered, from the 20 per cent of its share capital, the company says it is looking to raise 895 billion Shillings, which will be about double the cumulative sum raised in Initial Public Offers since June 2000 when the first IPO was done.
Read more ...“You are buying shares into MTN Uganda Ltd., which includes 100% of the MTN Mobile money company," says the CEO. Mobile Money is the second most important source of revenues for the company, accounting for a quarter of total earnings, after voice which brings in half of the company’s revenues. Data accounts for 20% while the remaining 5% is from other digital services, wholesale and device sales.
Read more ...The EAC region lost more than 90 percent in tourism earnings to the Covid-19 pandemic in 2020. Dr Mathuki is confident that the region's tourism activities are now poised for revival, putting the onus on governments and other players in the sector to work together to market the region’s tourist attractions and products
Read more ...In his July 1, 2021 letter, the president noted that projects were being delayed mainly due to corruption in the government procurement processes and delays in the procurement processes by the ministries, departments and agencies and the Public Procurement and Disposal of Public Assets Authority, PPDA.
Read more ...The courts also barred the Central Bank from continuing with the liquidation process against Crane Bank and returned the status quo of Crane Bank to what it was before the main appeal, in which the Bank asked the court to block Sudhir from claiming, taking control, repossessing or in any way interfering with the management of the Bank.
Read more ...The high cost of electricity and the unstable supply are the major concerns presented by electricity users as well as leaders, over the last 15 years. And these concerns are likely to be the main determinants of whether the company gets its concession renewed or not.
Read more ...The United Nations Capital Development Fund, UNCDF further says many innovations are made because the innovators get an idea, without thinking about the market, and so despite an exciting product, it is rendered useless.
Read more ...The acquisition follows the execution of an agreement signed on September 29, 2020, whereby Allianz agreed to acquire the majority shareholding in the short-term general (property and casualty) insurance business operations of Jubilee Holdings Limited, in the five countries.
Read more ...“The National Telecom Operator (NTO) licensee shall require to list at least 20% of its shares on the Uganda Securities Exchange within two years from the date of grant or issuance of the licence," the guidelines state.
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