Equity Group chief executive officer James Mwangi. FILE PHOTO | NMG Equity Group net profit for the full-year to December 31 doubled to Sh40.07 billion driven by huge cuts in loan loss provision which the lender reduced from Sh26.6 billion in 2020 to Sh5.8 billion last year. Strong loan recovery allowed the bank to claw […]
Tag: XUGA
Uganda Securities Exchange (XUGA)
Upper Tana-Nairobi Water Fund plans to expand watershed initiatives
The Upper Tana-Nairobi Water Fund ( UTNWF) has unveiled an ambitious plan to expand its ongoing source water protection initiatives in the Tana catchment area. The Fund, which was initially established by The Nature Conservancy, Nairobi City Water & Sewerage Company and Pentair to help secure the source of water for Nairobi, launched its five-years […]
Kenyan retail-based tech startup Cartnshop raises $400k to boost commercialisation
Cartnshop has raised $400,000 funding to push the commercialisation of its product which enables African SMEs to set up online stores quickly and affordably. Most small business owners in Africa struggle with attracting customers to their business. This contributes to why most small businesses rarely survive the first five years of their operation. Cartnshop , […]
Why women entrepreneurs must embrace tech
Ruth Asasira According to an article titled ‘Unlocking the potential of women entrepreneurs in Uganda’ and published by the World Bank, Uganda has a strong culture of entrepreneurship, including among women. It is one of only seven countries worldwide that has achieved gender parity in terms of the number of women driven to pursue entrepreneurial […]
Fines, imprisonment just two weapons in the anti-power theft, vandalism arsenal
A man checks his ‘Yaka’ units in Uganda. PHOTO/FILE The proposal to fine one Shs400 million or Shs1 billion for stealing electricity or vandalising power infrastructure respectively has elicited immense public interest. Government, which made the proposal, says should Parliament pass it, arguing that it will deter would-be offenders. On the other hand, there are […]
MTN Uganda full-year income cut by license, supplier payments
Image: Waldo Swiegers/Bloomberg MTN Uganda Ltd., the East African nation’s biggest wireless carrier, said full-year profit was lowered by 62.3 billion shillings ($17.3 million) in once-off payments for a short-term license and costs for terminating the services of a supplier. The unit of MTN Group Ltd. posted net income of 340.4 billion shillings for the […]
Who will take power to the powerless?
Power lines in Kampala. The high cost of electricity coupled with constraints in transmission and distribution systems remain the main barriers to maximising electricity access in Uganda. PHOTO/Racheal Mabala What you need to know: A new report cites energy as one of the three sectors that can change the economy’s fortunes. Ismail Musa Ladu and […]
Equity : IT’S A RECORD PERFORMANCE FOR EQUITY GROUP
29% growth in Balance Sheet to Kshs 1.305 trillion from Kshs 1.015 trillion 29% growth in customer deposits to Kshs 959 billion from Kshs 740.8 billion Emerges the largest bank in Kenya and in the region by all key parameters: balance sheet, profitability, market capitalisation and customer base Improvement in NPLs from 11% to 8.3% […]
MTN suffers 13pc profit dip as operating costs surge
An MTN stand at an expo. PHOTO | FILE | NMG Audited financial statements show the South Africa-based telco’s profit after tax declined by 13.17 percent to $1.12 billion from $1.29 billion in 2020. The value of mobile money transactions rose by 56.8 percent to $239.4 billion while the number of transactions increased by 41.1 […]
Centum taps insider as new head of Real Estate arm as ex-boss quits
Centum Real Estate Limited’s new managing director Kenneth Mbae. FILE PHOTO | NMG Centum Real Estate Limited has appointed Kenneth Mbae as its new managing director effective 17 March 2022. Mr Mbae, an insider at the investment company Centum, takes over the role from Samuel Kariuki, who "has resigned to pursue other interests" the firm […]