Like human beings, companies have their lifespan. Some may look like they will be around forever, but then some unforseen change comes about, and unable to cope, they die. Others shut down within hours or days of being born. While some stay on life support for an unusually long time, others make a surprise recovery. […]
WPP ScanGroup was the largest loser at the Nairobi Securities Exchange (NSE) on Wednesday. The company lost 43.77 percent at the price of 11.05 shillings per share. The second top loser was Longhorn Publishers with 8.16 percent at the price of 4.50 shillings per share followed by Trans-Century with a loss of 7.65 percent at […]
USE experienced a drop in turnover of about 70 per cent in second quarter Photo | File Uganda Security Exchange (USE) has posted the worst performances in over four years with turnover grossing a 70 per cent drop. In the second quarter of 2020, turnover dropped to Shs2.25b compared to Shs25.61b in the same period […]
Mr Patrick Bitature, the Umeme chairman and other directors during a previous Umeme annual general meeting. Companies are seeking to include the option of virtual meetings as an alternative to physical ones. PHOTO | FILE Mr Stephen Kaboyo, the Alpha Capital managing partner, believes “virtual meetings are only happening because of Covid-19 but in the […]
Ugandan fintechs have registered increased uptake in services during the lockdown As people and businesses continue to feel the negative impact of Covid-19, Uganda’s economy and way of life have slumped, with several innovations halted, and in some cases, collapsed. However, the urge for creativity has created a silverlining for fintechs, whose importance has skyrocketed. […]
MyCredit Limited managing director George Mbira (left) gives a food donation to Esther Kwamboka carrying her 2 and half years old son Sam Ombonya in Kibera. [File, Standard] The coronavirus pandemic has muted activities at the Nairobi bourse, eroding the value of many erstwhile blue-chip stocks. But amid the gloom and doom, the cream of […]
Umeme, Uganda’s electricity distribution company has unveiled Peter Kaujju as their Head of Communication. Last month, Kaujju resigned his position as Head of Public and Corporate Affairs at Kampala Capital City Authority after 9 monumental years of service at the Authority. On Tuesday, Kaujju was officially unveiled as Umeme Spokesperson in a statement posted by […]
NIC registered a whopping 3,394% increase in impairment provision on receivables from sh34.15m in 2018 to sh1.19b in 2019 Bayo Folayan. Courtesy photo National Insurance Corporation (NIC) has registered a 44% increase in loss after tax (LAT) of 2.75b in 2019 due to the insurance sectors new cash and carry policy, the insurance firm’s senior […]
Power distributor Umeme will spend $1.8 million (about Shs 6.7 billion) on replacing 182 power transformers that are under considerable strain with new ones. Transformers are electrical devices that either reduce or increase the voltage of alternating current (electrical current that reverses its direction at regular intervals) accordingly. The company will replace transformers that are […]
KAMPALA (Reuters) – Uganda’s sole electricity distributor, Umeme Limited, plans to spend 310 billion shillings ($83.27 million) this year to boost grid capacity and quality, its chief executive said on Monday. The investments will help the firm distribute more power from a new hydropower plant being built by Chinese firm Sinohydro on the Nile river, […]
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