Companies

CompaniesProperty

Mauritius-based Gateway Delta to invest $20 million to redevelop Metroplex Mall

Gateway Delta Development Holdings, a Mauritius-based real estate developer, plans to invest $20 million to redevelop Metroplex Mall within the next year after acquiring it from its current owner
A mall entrance
Companies

It looks like Uganda Airlines won’t start flying in July after all

It seems the revived Uganda Airlines will not take to the skies in July as had been planned. According to the company's chief executive, preparations are not progressing as smoothly as they should
Two Uganda Airline aircraft on their maiden flight to Entebbe International Airport
CompaniesCorporate earnings and resultsMarkets

Cipla Quality Chemical profits plunge in first full-year results

Cipla Quality Chemical Industries Limited, the drugmaker controlled by the Indian pharmaceutical giant Cipla Limited, reported a 14.2% fall in revenue for its first full-year results announcement since listing
CIPLA Quality Chemicals Offices
CompaniesCorporate earnings and resultsMarkets

Uganda Clays revenue rises but profit falls on higher costs

Uganda Clays Limited Tuesday said high costs incurred while trying to improve production efficiency and the increase in fuel prices, which pushed up distribution costs, offset higher sales in its most recent financial year
CompaniesMarkets

Alexander Forbes announces retreat from Uganda

The Ugandan unit, alongside the Nigerian operation, was one of the group's worst performing subsidiaries. In both 2018 and 2017, Alexander Forbes reported an operating loss of ZAR3m (Shs934m in 2018 and Shs804.4m in 2017) for its operations in Uganda
The head offices of Alexander Forbes Group in Sandton, Johannesburg
Companies

Uganda Airlines and Airbus move forward on Airbus A330neo purchase

Europe's Airbus said today that Uganda Airlines has “firmed up” its order for two A330-800 aircraft, becoming the second client to order for the slow selling jets after Kuwait Airways
CompaniesCorporate earnings and resultsMarkets

Stanbic profits in 2018 rise on recovery in interest income

Stanbic Bank Uganda said on Thursday that its profit in 2018 increased on a recovery in interest income, mainly driven by a rise in customer loans
A Stanbic Bank Uganda branch
CompaniesEnergy, Oil & Gas

Umeme revenues flat but books Shs132bn profit as it returns to ‘normal’ curve

Uganda's power distributor Umeme bounced back from a regulatory clause that suppressed earnings in the previous year to post a net profit of Shs132 billion for the full financial year ended December 31, 2018, the firm has reported in its latest earnings report
CompaniesCorporate earnings and resultsMarkets

Profit growth slows at British American Tobacco amid falling sales

In 2018, three years after a major restructuring that dragged the company's profits down in 2015 and 2016, British American Tobacco Uganda continued to grow revenue and profit, though at a slower pace than in the previous year
Cigarettes manufactured and distributed by British American Tobacco in Uganda
Companies

MTN in talks to sell stake to NSSF

MTN Uganda and the government are in talks that could see the National Social Security Fund taking a stake in the telecom, increasing local ownership in the country's biggest taxpayer from the current 5%
MTN Offices in Kampala
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