The fall in the shares of the companies could be attributed to a fall in demand as foreign investors withheld their money, while others sold off their share to either keep cash or reinvest in their home countries and other markets considered safer. The market value of the companies listed on the Uganda Securities Exchange […]
Tag: XUGA_NIC
Uganda: Austerity Slows Deals at Ugandan Bourse
The total market capitalisation of firms listed at the Uganda Securities Exchange fell to Ush4.27 trillion ($1.15 billion) in 2019/20, from Ush4.91 trillion ($1.32 billion) in 2018/19. According to Capital Markets Authority report, the drop was driven by substantial declines in share prices of locally listed companies, a trend that was escalated by the Covid-19 […]
Liquid Telecom Raises $40 Million to Expand Data Center Business in Africa
Liquid Telecom has raised $307 million through a rights issue to fund its expansion of its data center business in Africa. Rights issues are offers made to shareholders to buy additional shares to the company which helps it to raise capital. The rights issue included an an additional $40 million from CDC Group Plc which […]
Difficult Times For The Banking Sector Forces SBM To Close Five Branches
The banking sector is seemingly going through difficult economic times caused by the Covid-19 pandemic, forcing most to engage in cost-cutting measures. Among the most common cost-cutting measures include closure of some branches and retrenchment of employees, or even reducing their salaries. SBM Bank (formerly Fidelity Commercial Bank Limited) has become the latest in the […]
Hackers Paralyse NCBA Bank Operations
NCBA bank with subsidiaries in Rwanda, Kenya, Ivory Coast, Uganda and Tanzania may require a highly experienced IT team to help the bank fix loopholes in its technology systems and department. NCBA’s technical hiccup arose from planned shift into a uniform platform for all its customers in Kenya and the region following the merger of […]
Safaricom, NCBA split on cutting M-Shwari charges
NCBA Group #ticker:NCBA has differed with its partner Safaricom #ticker:SCOM over the push to lower the customer charges on M-Shwari loans amid pressure for the State to curb unregulated digital mobile lenders who charge exorbitant monthly interest rates. The bank said there were no immediate plans to cut the fees linked to M-Shwari, adding that […]
See the list of insurance/reinsurance companies in good standing
The National Insurance Commission (NIC) has advised the insuring public to verify the authenticity of any insurance entity before conducting business with them. The caution comes after the Commission in collaboration with the police arrested two officials of an unlicensed insurance brokerage firm operating under the name Family Fountain Insurance Brokers. A statement issued by […]
Co-op Bank to pay Sh1bn for Jamii Bora stake
A Co-op Bank branch in Nairobi. FILE PHOTO | NMG Co-operative Bank of Kenya has offered an initial Sh1 billion for the purchase of a 90 percent stake in Jamii Bora Bank, according to disclosures by the small lender ahead of its July 1 shareholders meeting that will consider the proposed transaction. Jamii Bora’s current […]
Equity CEO, Kenyattas lose billions in a month
The Kenyatta family, the family of former Central Bank governor Philip Ndegwa and Equity Group chief executive James Mwangi have each lost up to Sh2 billion at the Nairobi Securities Exchange (NSE) over the past month in the wake of the coronavirus outbreak that has hit stocks. Mr Mwangi leads the pack after his five […]
Ghana: List Of Insurance/Reinsurance Companies In Good Standing
The National Insurance Commission (NIC) has advised the insuring public to verify the authenticity of any insurance entity before conducting business with them. The caution comes after the Commission in collaboration with the police arrested two officials of an unlicensed insurance brokerage firm operating under the name Family Fountain Insurance Brokers. UBA Loans A statement […]