The retailer had in December postponed its AGM from December 20, 2017, to a later date ostensibly to allow negotiations with a potential investor who was to pump Sh3.5 billion in Uchumi as part of a turnaround plan/FILE The retailer had in December postponed its AGM from December 20, 2017, to a later date ostensibly […]
Stanbic Bank’s Purchase Managers Index (PMI) posted 51.1% growth in February down from 52% in the previous year, signaling a moderate improvement in business conditions in the private sector. Commenting on February’s survey finding, Jibran Qureshi, Regional Economist East Africa at Stanbic said, “business conditions in Uganda’s private sector continued to improve, albeit at a […]
A visit to Leakey’s Auctioneers vehicle storage yard in Nairobi’s Industrial Area is met with a beehive of activities as zealous salesmen saunter along the lined up vehicles trying to make a sale. They chat and haggle with unwilling clients, tagging along while inspecting the cars. ALSO READ: IGAD treaty set to open up more […]
Kenya has inked a deal with Kampala to buy 6.6 million bags of maize at Sh2,050 each to plug a deficit that has triggered a rise in flour prices. The multi-billion shilling deal that was brokered by the Trade ministry will see local millers pay Grain Council of Uganda for delivery of cargo at the […]
There is bad news coming from Uganda Revenue Authority and the Ministry of Finance Planning and Economic Development (MoFPED). The latest data on tax collections shows that URA recorded Shs 324bn as revenue shortfall in the first half of the FY2017/18, partly attributed to low levels of economic activities, currency depreciation and the related price […]
Uganda’s capital markets regulator is pushing for more people to take up real estate investment trusts – a financial instrument that provides units of ownership in real estate assets to investors – to speed up sale of new buildings and widen investment choices for fund managers. “There are about 25 real estate properties available on […]
Uganda economy has continued to show positive indicators in the economic activity, this is revealed by the monthly performance of economy report for the month of January. High frequency indicators of economic activity remained positive. The Composite Index of Economic Activity (CIEA) improved by 0.62 percent to 210.34 in December 2017 from 209.04 in November […]
Foreign investors are weighing their options about investing in East Africa’s stock markets as the regional governments, faced with dwindling foreign direct investment flows, have started implementing programmes to attract foreign investors to certain sectors. Stock exchanges are barometers of economic performance and data indicates that activity on the Kenyan and Uganda securities exchanges picked […]
Kenyan banks are struggling to mobilise deposits, which could further dent their profitability amid declining income from loans and advances. And now, the lenders are looking for cheap funds to lend to the government through Treasury bills and bonds after declaring that households and small businesses were risky after an interest rate cap regime was […]
NAIROBI, March 13 (Reuters) – Kenya’s shilling was steady on Tuesday and traders said it was forecast to weaken due to increased dollar demand from oil importers. At 0747 GMT, commercial banks quoted the shilling at 101.40/50 to the dollar, compared with Monday’s close of 101.35/45. ………………………Shilling spot rates …………………Shilling forward rates …………………..Cross rates …………………………….Local […]
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