Uganda Securities Exchange (XUGA)
On days like these, investors seek liquidity from several sources just to keep going. One of many sources is share-backed loans. In this scenario, an investor gets instant liquidity for taking care of immediate needs and other personal needs, all backed by his/her equity investment. Typically, a loan is offered by banks with a credit […]
Africa’s transport sector has always faced a myriad of challenges, with aviation particularly confronting headwinds from all corners. A number of airlines such as Kenya Airways were already finding it hard to negotiate stormy skies and dark financial clouds even before the pandemic struck. The sudden arrival of coronavirus almost became the last nail in […]
Passengers alight from Jumbojet aircraft at Kisumu International airport on October 9, 2020. PHOTO | TONY OMONDI | NMG Domestic airfares have nearly doubled ahead of Christmas on increased demand with some routes recording full bookings in the days to December 25. Ticket prices from Nairobi to Kisumu have risen to a peak of Sh15, […]
People walk past an SBM bank branch on Mama Ngina Street in Nairobi. PHOTO | SALATON NJAU | NMG SBM Bank has sent home a number of employees in a mass layoff after failing to reach their targeted number under the voluntary exit window. The lender which bought Chase Bank three years ago announced a […]
A government policy that favours struggling national carrier Kenya Airways (KQ) against its cheaper competitors to transport fresh produce to other countries continues to hurt other exporters. They have complained about the lack of capacity on KQ to ferry their produce and the airline’s expensive airfreight charges. They now fear they could be forced in […]
Equity Group has reported 78.6 percent growth in profit after tax for the nine months to September this year on account of the growth of non-funded income and reduced costs. The bank posted Sh26.8 billion net profit compared to Sh15 billion posted in the same period last year. This was attributed to a 28.8 percent […]
Kenya is set to launch a new Warehouse Receipt System (WRS) in Kitale, Trans Nzoia County. County Executive for Agriculture, Livestock, Fisheries and Crop Management, Mary Nzomo made the announcement. The electronic system would allow owners of agricultural commodities to deposit their goods in certified warehouses belonging to National Cereals and Produce Board (NCPB) , […]
Centum holds shares in Two Rivers Development Company Ltd. FILE PHOTO | COURTESY Centum Investment Group reduced its loss for the six months to September from $17.67 million to $5.91 million. The firm, which is listed on the Nairobi Securities Exchange (NSE), reduced its finance costs by 28 percent from $4.05 million to $2.91 million, […]
KAMPALA, Dec 3 (Reuters) – Uganda’s biggest telecoms operator MTN said on Friday it has secured just 60% of its target amount from an initial public offering of a 20% stake, raising 536 billion shillings ($150 million). The company allocated 2.9 billion shares to investors through the transaction, which was billed as the East African […]
Uganda-Airlines in the spotlight over missing luggage Kampala, Uganda | THE INDEPENDENT | Dozens of passengers who arrived at Entebbe International Airport from Johannesburg aboard Uganda Airlines on Friday, are frustrated after learning that the airline did not load their luggage after check-in. Under normal procedure, check-in bags are carried through a conveyer belt and […]
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