Uganda Airlines on Wednesday announced new services to Abuja, Lusaka and Harare in a bid to increase revenue, improve fleet utilisation and position itself for further market expansion.The Abuja service, operating two times a week, will be launched on September 12, 2024, with Lusaka and Harare to follow two weeks later.The latter two, operating four […]
Airtel Uganda’s parent to offload extra 9.1pc stake
Airtel Uganda’s majority shareholder Airtel Africa is set to sell additional shares amounting to a 9.11 percent stake in a secondary offer to comply with a requirement to offload a minimum ownership of 20 percent to minority investors trading on the Uganda Securities Exchange (USE). The multinational in November 2023 managed to sell 4.35 billion […]
Uganda Airlines allocates $95m to promote local purchases
Uganda Airlines plans to spend $95 million on procurement during 2024/25 fiscal year and is exploring ways of supporting local suppliers to earn a bigger slice of that spend. The money will be split among supplies, services and works. The national carrier also expects to hit the 700,000-passenger milestone at the end of 2024, on […]
Uganda state oil firm signs fuel sales deals with 80 marketers
As it recovers from the hiccups linked to the route in Kenya – which threatened its fuel supply monopoly – Uganda National Oil Company (Unoc) on Tuesday signed sales and purchase agreements (SPAs) with the market’s biggest fuel dealers, in contracts that will tie over 80 oil marketers in Uganda to the State-owned firm for […]
Uganda, South Korea sign $500m infrastructure loan deal
Uganda has signed an agreement with South Korea for a $500 million loan to help finance infrastructure building in the country, Uganda’s Finance Ministry said on Thursday. South Korea’s Exim Bank will provide the loan, the ministry said in a post on X. It didn’t provide details on what kind of infrastructure the money would […]
Uganda bets on reforms to boost private equity financing
Uganda’s Capital Markets Authority (CMA) and the Ministry for Finance, Planning and Economic Development are working to review the regulatory framework to boost the uptake of private equity (PE) financing, as an alternative source for capital for private sector. The regulator says in its latest annual report that mobilising alternative sources of funds to finance […]
MTN Uganda’s parent offers major discount in $58m shares sale
South Africa’s MTN Group has made a new offer to sell 1.57 billion shares in its Ugandan subsidiary at a substantial discount in a bid to comply with a requirement to offload a minimum stake of 20 percent to minority investors. The multinational managed to sell a 12.97 percent stake in MTN Uganda in November […]
Uganda drug maker dividend up 120 percent
Quality Chemical Industries Ltd (QCIL) has more than doubled dividend payout after reporting a strong profit growth for the year ended March 31, 2024 driven by antiretroviral and antimalarial drug sales. The board has proposed $5.5 million dividend this year from $2.5 million last year. For each share, the Uganda Securities Exchange-listed pharmaceutical company has […]
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 […]
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