Financial

Uncertainty dims Uganda banking sector fortunes

Economic uncertainty, rising credit default risks, emerging liquidity and funding challenges amidst low deposit growth largely shaped Uganda’s banking industry performance during the first three months of 2024 as lenders confront a high interest rate environment. A combination of weak government spending, low consumer spending and budget cuts reported within local firms have affected economic […]

How KCB reclaimed position of East Africa’s most profitable bank

KCB Group, the largest lender in the region by assets, after posting four consecutive quarters of declining profits that culminated in the lender skipping dividend payment for the year 2023, beat market expectations in Quarter 1, 2024 announcing a 69 percent growth in net profit to Ksh16.06 billion ($122.59 million). With that, it reclaimed its […]

Kenya, Uganda to extend oil pipeline from Eldoret to Kampala

Kenya and Uganda have agreed to jointly extend the oil pipeline from Eldoret to Uganda in a deal that will see Kampala import refined petroleum products directly through Nairobi. Nairobi says the extension will facilitate trade relations between the two nations. The two countries also signed a tripartite agreement paving the way for the Uganda […]

Uganda Airlines leases aircraft A320 to up operations

Uganda Airlines plans to deploy a wet-leased A320 on services to Nairobi, Johannesburg, Lagos and Kinshasa routes on which it has seen significant growth but whose operation was getting increasingly challenged by capacity shortfalls. After several procedural hitches that saw its arrival postponed several times over the past four months, the aircraft, leased from Johannesburg-based […]

Four EAC partners join the Kenya-Uganda SGR project

On Friday, Rwanda, Burundi, Democratic Republic of Congo and South Sudan joined SGR Cluster Joint Ministerial Committee and committed to engage development partners in seeking funding for the railway to ease movement of goods on the Northern Corridor. During the meeting in Mombasa, the ministers in charge of infrastructure acknowledged the fundraising challenges the project has […]

 MTN UGANDA LIMITED HYBRID AGM 

Dear Shareholder, The MTN Uganda Limited Hybrid AGM comprising of a physical meeting to be held at the Victoria Hall Serena Hotel, Kampala and via electronic means will be held on Wednesday, 22nd May 2024 at 10:00 AM EAT. Attached please find the AGM notice. The Audited Financial statements are available on the Company’s website www.mtn.co.ug

Bank of Baroda (Uganda) Limited (BOBU) AGM Notice

Dear Shareholder, We hope this finds you well. Attached is a copy of the Bank of Baroda (Uganda) Limited AGM Notice for the annual general meeting to be held on Thursday 06th June 2024 at 02:00 P.M. Physical meeting at Munyonyo Commonwealth Resort, Kampala. Please view the details and feel free to get back to […]

Umeme Limited AGM Notice

Dear Shareholder,  We trust this email finds you well and safe. Please note the correct Venue for The Hybrid (comprising both physical and   virtual) Annual General Meeting (AGM) of Umeme Limited will be held on Thursday 16th May 2024 at 10:00 AM at Serena Hotel, Kampala and via electronic platform. Note registration is now open and will close on Wednesday 15th […]

Uganda to get $295m loan from Saudi’s Islamic Development Bank

Uganda has signed an agreement with Saudi Arabia’s Islamic Development Bank (IDB) for a $295 million loan to fund road construction and other projects, the country’s Finance minister said on Tuesday.The move underscores Uganda’s efforts to diversify its sources of external funding, as talks with the World Bank to resume lending have dragged on without […]

Uganda reduces bank depositors’ exposure

Uganda’s Deposit Protection Fund (DPF) has agreed on rules to stem systemic risks and maximise asset recovery in the event of bank failures as part of a five-year crisis management plan seeking to bolster depositor confidence and open up the banking sector to more investments.The rules contained in the liquidation policy and procedures manual provide […]

Stay ahead in a rapidly world. Subscribe to Prysm Insights,our monthly look at the critical issues facing global business.