Companies

CompaniesMergers & Acquisitions

Seacom acquires Africell assets to expand enterprise business

Seacom on Thursday announced that it is acquiring certain infrastructure assets from the defunct telecom operator Africell Uganda Limited
Servers in a data centre
CompaniesCorporate earnings and resultsMarkets

Dfcu warns profit will be hit by loan provisions

Dfcu Group warned Friday its full-year earnings for 2021 will fall by as much as 25 per cent on an increase in loan-loss provisions and the impairment of some assets acquired from Crane Bank
Companies

Absa Uganda takes earnings hit from loan-loss provisions

Absa reported a decline in full-year profits, its second in three years, on the back of higher loan-loss charges
An office of Absa Bank in Johannesburg
CompaniesMarketsMovers & ShakersPolitics & Policy

Vision Group names Don Wanyama as new chief executive

Vision Group has announced that Don Wanyama, the senior press secretary to the president, will take over as chief executive
An office building
CompaniesCorporate earnings and resultsMarkets

Soaring loan-loss provisions lead to first profit fall in seven years at Stanbic

Decline in net profit, the first in seven years, follows strengthened provisions against losses from borrowers hit by the coronavirus
A Stanbic Bank branch in Kampala
CompaniesDigital Economy

Nation Media Group to slash staff in major restructuring

Nation Media Group Uganda, the media company, plans to dismiss staff as part of a restructuring seeking to "accelerate our digital transformation" and in response to effects of the Covid-19 pandemic
A newsroom
CompaniesCorporate earnings and resultsMarkets

Umeme profits slide on suspension of free connections

Power distributor Umeme Limited on Tuesday blamed a "challenging operating and regulatory environment" for the sharp fall in 2020 profits
Electricity pylons
CompaniesCorporate earnings and resultsMarkets

BAT Uganda profits rise sharply on lower operating costs

British American Tobacco Uganda reported its strongest growth in profits in three years as cost-cutting measures in response to the Covid-19 pandemic more than made up for the hit to cigarette sales
CompaniesCorporate earnings and resultsMarkets

Cipla Quality Chemicals posts loss as exports decline

Cipla Quality Chemical's exports fell sharply, largely as a result of suspending sales to the government of Zambia following delayed payments, leading to a decline in revenue and the company's first loss since listing in 2018
CIPLA Quality Chemicals Offices
Companies

Airtel, MTN bring back fees for mobile money transactions

Uganda's two largest telecom firms, MTN Uganda and Airtel Uganda, said they will reintroduce charges on mobile money transactions starting Tuesday, ending the zero-fee charging structure announced in March
A female person using a smart phone
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