During the last few years, Kenya Airways struggled financially. One would argue that many airlines globally have found a tough going but for Kenya Airways, the fate of the airline hangs in the balance. The government — who has been writing checks to keep the airline afloat — is now demanding the carrier to restructure. […]
Tag: XUGA
Uganda Securities Exchange (XUGA)
Kenya Airways opts for aircraft hourly lease, saves $45m
One of the biggest airlines in Africa, Kenya Airways, has saved $45 million ((Sh4.7 billion) after it changed the lease terms on its aircraft fleet, opting for hourly rates in place of fixed costs. Kenya Airways Chief Executive, Allan Kilavuka, said the airline reached a deal with lessors in 2021 to only pay when they […]
Costly imports as shilling hits new all-time low
The Kenyan shilling is under fresh pressure against the dollar after it hit a new record low on Monday, setting up the country for more expensive imports and debt servicing distress. Central Bank of Kenya (CBK) data shows the Kenya shilling hit a record low to exchange at an average of 113.94 on Monday. Bloomberg […]
Citigroup releases financial targets at first Investor Day under CEO Jane Fraser
In this article Jane Fraser speaks during the Milken Institute Global Conference in Beverly Hills, California, U.S., on Monday, April 29, 2019. Kyle Grillot | Bloomberg via Getty Images Citigroup CEO Jane Fraser is setting the bar for her bank to improve its lagging performance – modestly so. The company set a “medium term” target […]
Kenya: Manufacturers Make Savings Ditching Expensive Energy
Kenya’s Energy sector is largely to blame for greenhouse gas emissions The major shift is now being witnessed with most of the industries investing in clean energy The Bamburi Cement power project is expected to take off within this year The Kenyan energy sector is grappling with transiting to clean power as the country cannot […]
State to reveal names, homes of tender tycoons
Attorney General Paul Kihara Kariuki. PHOTO | JEFF ANGOTE | NMG The State will start making public the names, residential addresses and occupation of secret shareholders in companies that clinch tenders in ministries and parastatals. Attorney-General Kihara Kariuki has unveiled fresh regulations that will compel the Public Procurement Regulatory Authority (PPRA) to reveal information on […]
BATU profit drops for first time in five years
British American Tobacco Uganda , the cigarette distributor, reported a drop in after-tax profit last year amid “an exceptionally challenging operating environment” as weak consumer spending and “illicit trade” hit its sales. The company said its gross revenue fell 42 per cent year on year to Shs93.8bn, depressed by a public spending squeeze and an […]
Uganda Securities Exchange equity turnover drops 73%
Uganda Securities Exchange (USE) started the new year on a weak footing with equity turnover falling by 73.8 percent to Ush 2.05 billion ($579,828) in January. According to the bourse’s monthly bulletin for January, the value of shares traded declined to Ush2.05 billion from Ush7.8 billion ($2.2 million) in December last year (2021),representing a daily […]
British American Tobacco Uganda profit drops for first time in five years
British American Tobacco Uganda ( USE:BATU ), the cigarette distributor, reported a drop in after-tax profit last year amid “an exceptionally challenging operating environment” as weak consumer spending and “illicit trade” hit its sales. The company said its gross revenue fell 42 per cent year on year to Shs93.8bn, depressed by a public spending squeeze […]
UGEFA opens applications for the fourth cohort
UGEFA supports sustainable Ugandan enterprises to scale and contribute to a green and inclusive economy Kampala, Uganda | Patricia Akankwatsa | The EU-funded Uganda Green Enterprise Finance Accelerator (UGEFA), which supports sustainable Ugandan enterprises to scale and contribute to a green and inclusive economy, has announced that it is accepting applications for its fourth and […]