Companies

Companies

Umeme borrows $50 million to fund grid expansion

Umeme is borrowing $50 million from the the International Finance Corporation and various banks to upgrade and expand its medium voltage transmission lines and substations, and to fund the installation of more prepaid meters across the country.
Electricity pylons
Companies

We have not approved Crane Bank sale – Bank of Uganda statement

Bank of Uganda has not received any request from Crane Bank to approve a change in shareholding. Should such a request be received, the proposed shareholders will be vetted for "fit and proper" credentials.
Companies

Bank of Uganda has not approved Crane Bank sale, official says

Bank of Uganda is not aware of Crane Bank's planned merger, and has not approved a sale of the bank, according to Benedict Sekabira, the director commercial banking at Bank of Uganda.
Companies

Crane Bank denies rumours of sale, says in merger talks with “strategic equity investor”

Crane Bank Uganda was Thursday forced to deny rumours that it is up for sale, saying instead that is merging with a "strategic equity investor." A report circulating on social media said the bank has sold 70% of its shares to South African investors.
Companies

Stanbic borrows from international markets for lending in Uganda

Stanbic Bank Uganda, the country's biggest bank by assets, is borrowing $55 million in Dubai for lending in Uganda. The bank says it reached an agreement with Emirates NBD Capital Limited and four other banks for the two-year loan facility.
Companies

Airtel’s share of mobile money agents grows, but still behind MTN

The mobile money sector is dominated by two telecoms, MTN Uganda and Airtel, who together account for 99% of mobile money agent market presence, according to a new report. The market leader is MTN with 57%, followed by Airtel with 42%.
MTN Offices in Kampala
Companies

Looking for the best internet plan in Uganda? Here’s some data for you

The analysis looked at the six telecom companies that offer internet services in Uganda. We arranged the plans according to their validity periods and cost. The most common validity periods are 24 hours, one week, one month, and three months.
Companies

Vodafone is phasing out its unlimited data plans

Vodafone is in the process of phasing out unlimited plans, according to the company's spokesperson. But Vodafone customers who had signed up by 25 August will continue to use unlimited plans until further notice.
Companies

Backlash against Stanbic Bank Uganda for apology to minister

A letter circulating on social media shows that Stanbic Bank apologised to the minister. Signed by the bank's CEO, the letter conveys "my sincere apologies for inconvenience and embarrassment this incident might have caused you."
Companies

Protesters picket London HQs of banks doing business with Bidco

A coalition of several groups and non-profit organisations on Tuesday protested outside the London headquarters of two British banks they say do business with Bidco Africa, which they accuse of cutting down forests and "human rights and tax violations."
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