Uganda Securities Exchange suspends UMEME after handover UEDCL
The Uganda Securities Exchange (USE) has suspended UMEME following the expiry of electricity distribution concession agreement and subsequent handover to Uganda Electricity Distribution Company Limited (UEDCL). Yesterday, government paid US$118 million (Shs 432.677 billion) to UMEME following the expiry of concession agreement. “USE hereby informs all investors and the general public that
Energy: African Rare Earth Projects Advance Amid Rising Global Demand
The global demand for rare earth elements is projected to increase four-fold by 2030, driven by the energy transition and increasing investments in industrialization. African nations rich in rare earth minerals are accelerating exploration and production efforts to capitalize on this growth. With up to eight rare earth projects set
Businessman Haruna Sentongo Loses Shs 10 billion Case Against I&M Bank Uganda
City businessman Haruna Sentongo, a brother to Hamis Kiggundu, has lost a Shs 10 billion case against I&M Bank Uganda Limited. In January 2019, Orient Bank Limited (now I&M Bank Uganda) sued Haruna Sentongo, seeking repayment of Shs 10.3 billion, accrued interest, general damages, and costs of the suit. In
Royco’s ‘Share Goodness’ Campaign Feeds Over 5,000, Concludes Ramadan with Donation to Uganda Muslim Supreme Council
Unilever Uganda, through its iconic seasoning brand Royco, has successfully concluded its ‘Share Goodness’ campaign, a month-long initiative that provided nutritious Iftar meals to over 5,000 Muslims in 25 mosques across the country. To mark the end of Ramadan, Royco today made a significant donation to the Uganda Muslim Supreme
Uganda Signs Shs 14.6 trillion Oil Refinery Deal with Alpha MBM Investments
In a significant move to strengthen its emerging hydrocarbons industry, the Ugandan government has signed an oil refinery implementation agreement with Alpha MBM Investments LLC to develop a $4 billion (Shs 14.6 trillion) oil refinery. President Yoweri Museveni confirmed the agreement, stating that the refinery will be constructed in Hoima
Shilling ends month on a stable note as market liquidity boosts butlook
The Ugandan shilling closed the month trading steadily at 3660/3670 per dollar, supported by corporate demand and strong inflows from portfolio investors, exporters, and remittance firms, according to Richard Nsubuga, Ag. Head of Trading at Absa Bank Uganda. Short-term projections remain positive, with expectations of the shilling fluctuating between 3640
Sauti Plus Media Hub Unveils ‘Kwiso TV’ Streaming Platform to Boost Ugandan and East African Content
Sauti Plus Media Hub, has unveiled Kwiso TV – a new streaming platform designed to showcase quality Ugandan and East African films and TV series. The announcement was made during the premiere of five short films produced under the Ikon Awards Young Filmmakers Fellowship at Reach A Hand Uganda’s headquarters
EACOP , Tanzania Liquefied Natural Gas Set to Transform the Region
Representing a strategic oil and gas frontier, the East African region offers significant opportunities for investors. Large-scale infrastructure projects such as the East African Crude Oil Pipeline (EACOP) and Tanzania LNG project are not only expected to drive economic growth in the region, but also trigger an oil and gas
Uganda secures Shs 18.3 trillion funding for Oil pipeline
The company behind Uganda’s East African crude pipeline (EACOP) has secured its first tranche of external financing from a consortium of institutions, including commercial banks and Afreximbank, EACOP Ltd announced on Wednesday. EACOP is a key component of a broader $15 billion (Shs 18.3 trillion) energy initiative led by TotalEnergies,
Paul Muganwa joins Stanbic Bank Uganda Board as Executive Director
Stanbic Bank has appointed Paul Muganwa as Executive Director, and a member of the Board of Directors. The appointment is in addition to his current role as Head of Corporate & Investment Banking (CIB). The appointment increases the number of Executive Directors to three, including Sam Mwogeza, Executive Director-Personal and
