(Bloomberg) — Uganda’s shilling is expected to extend its slide against the dollar this month and in April as offshore investors holding domestic bonds move out of frontier markets due to the war in Ukraine. The currency of the East African nation has weakened about 2% this month to as low as 3,630.84 per dollar, […]
Tag: XUGA
Uganda Securities Exchange (XUGA)
Naivas opens new branch in Syokimau
Naivas Supermarket has opened a new branch in Syokimau as it continues with its national expansion. The outlet, called Naivas-Katani, opens its doors on Friday targeting thousands of shoppers in the region that has attracted a significant number of middle-class residents. This is the retailer’s third store along Mombasa road and the 82nd branch countrywide. […]
Grace Nshemeire Appointed PSFU Chief Operating Officer
The Private Sector Foundation-Uganda (PSFU) has Saturday announced the appointment of Grace Nshemeire-Gwaku, as the new Chief Operating Officer. According to a statement issued by PSFU, Nshemeire’s appointment took effect on March 1, 2022. Grace joins the Foundation with over 18 years of experience in the private sector arena, leading projects across various countries; Uganda, […]
NSE optimistic on bond trade as mortgage firm lists
NSE chief executive Geoffrey Odundo monitors daily trading at the Nairobi Bourse/ The Nairobi Securities Exchange (NSE) sees a positive outlook for the private bond market in Kenya, urging investors to seize the opportunity to reap dividends. Speaking at the official launch of trade on Kenya Mortgage Refinance Company PLC (KMRC) bond at the bourse, […]
EABL & Tusker launch campaign to celebrate 100 years of existence
East African Breweries Plc (EABL), and its flagship brand Tusker, have launched a year long campaign to celebrate 100 years of existence across East Africa. Established in Ruaraka in 1922, EABL has transformed into the biggest manufacturing operating in the region, impacting millions in its value chain where the company sources raw material, makes and […]
An interview with Simmons & Simmons LLP giving an overview of project finance in Africa
This article is an extract from GTDT Market Intelligence Project Finance 2022 . Click here for the full guide. 1 What have been the trends over the past year or so in terms of deal activity in the project finance sector in your jurisdiction? YB: Notwithstanding the covid-19 pandemic, we note since 2019 vigorous activity […]
Uganda Shilling Seen Extending Slide as Foreign Investors Exit
Uganda’s shilling is expected to extend its slide against the dollar this month and in April as offshore investors holding domestic bonds move out of frontier markets due to the war in Ukraine. The currency of the East African nation has weakened about 2% this month to as low as 3,630.84 per dollar, adding to […]
169MW of purchased electricity goes unsold every quarter – ERA
On average, distribution companies fail sell at least 17.6 percent of purchased electricity. PHOTO | FILE Electricity distribution companies on average lose about 169 megawatts every three months, which remain unsold, according to data from Electricity Regulatory Authority (ERA). According to details contained in the ERA Electricity Distribution Statistics report for the quarter ended September […]
SMEs receive Sh2bn funding under State-backed credit guarantee scheme
More than Sh2 billion has been issued to micro, small and medium-sized enterprises (MSMEs) under the state-backed credit guarantee scheme. National Treasury says by December 2021, a total of 1,291 small businesses had taken loans amounting to Sh2.1 billion since the scheme was launched a year ago. The credit guarantee scheme encourages banks to disburse […]
KCB triples dividend after profit jump, targets DRC
Listed lender KCB #ticker:KCB has tripled its dividend payout to Sh9.64 billion for the year ended December 2021, while retaining Sh24.5 billion to finance new acquisitions and grow its business in Rwanda and Kenya. The bank reported a 74 percent jump to Sh34.09 billion in net earnings for the year, driven by lower provisions for […]