Insurer’s losses more than triple to Shs 6.39bn in 2018 Kampala, Uganda | ISAAC KHISA | Cooperative Insurance Company Africa Uganda Ltd, commonly known as CIC insurance, recorded a sharp drop in profits last year but management assures its shareholders that everything is in control. The company’s financial results for …
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The lender records a 21% drop in net profit to Shs 17.2bn in 2018 owed to increased expenditure Kampala, Uganda | ISAAC KHISA | BRAC, one of the largest microfinance providers in Uganda, has become middle-sized commercial bank also known as a Tier II credit institution, paving way for its …
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Entebbe, Uganda | THE INDEPENDENT | Cabinet has approved directors of Uganda Broadcasting Corporation (UBC) and Uganda Post Limited (UPL), bringing in many new faces to board management. New faces include Major Chris Magezi, spokesman for Senior Presidential Adviser for Special Operations Lt Gen Muhoozi Kainerugaba, and women activist and former …
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5% drop to Shs68bn in net profit Kampala, Uganda | JULIUS BUSINGE | Huge taxes paid to Uganda Revenue Authority (URA) has seen Barclays Bank Uganda Limited record a 5% drop in net profit to Shs68bn for the year ended December 2018. Barclays bank financial results released on April 25 …
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Arua, Uganda | THE INDEPENDENT | Government has through the Energy and Mineral Developments Ministry increased the supply of thermal energy to 8 megawatts to help address the intermittent power supply in West Nile. Nyagaka power dam, which is operated by the West Nile Rural Electrification Company-Wenreco, has been producing …
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London, United Kingdom | AFP | Manchester City have overtaken Manchester United as the Premier League’s most valuable club, with higher wages and lower profits hurting the Old Trafford powerhouse, according to a football finance survey published Friday. Premier League champions City are valued at £2.364 billion ($3.07 billion) in 2017/18, up £385 million, according …
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Kampala, Uganda | THE INDEPENDENT | Leading Pan-African Bank, United Bank for Africa (UBA) PLC in partnership with leading global payments and technology company, MasterCard, are giving away all- expenses paid trips to the Semi-Finals and Finals of the 2019 UEFA Champions League to 12 lucky UBA Mastercard holders. The participating countries are …
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London, United Kingdom | AFP | Energy giant Royal Dutch Shell on Thursday said its net profit edged higher to $6 billion in the first quarter, with gains capped by cooler oil prices and a dip in production. Profit after tax climbed two percent compared with the first three months …
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Nairobi, Kenya | AFP | Tanzanian business tycoon and philanthropist Reginald Mengi, who headed one of Africa’s largest media groups, has died aged 75 in Dubai, his news outlets reported Thursday. “We are sorry to announce the death of the executive chairman of IPP Group of Companies, Dr Reginald Mengi,” …
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Kampala, Uganda | THE INDEPENDENT | Parliament has maintained a sh200 per litre tax on non-alcoholic drinks that government sought to reduce in the next financial year. In a plenary session chaired by Deputy Speaker Jacob Oulanyah, MPs on Tuesday afternoon approved parliament’s Finance Committee report on the Excise Duty …
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