Dfcu Limited has recorded a 51 per cent drop in profitability for the first six months this year, according to its half-year financial results for the period ended June 30, 2022. The bank reported Shs18.7 billion in net profits after tax compared to 5hs49.9 billion in the corresponding period in 2021, representing a 51% slump…
Stanbic Uganda Holdings Limited (SUHL) has recorded a 4.7% growth in profit-after-tax for the first six months to June.30 to Shs162billion. This comes amidst an unpredictable operating environment characterized by global price instability and a tightening of monetary policies. SUHL Chief Executive, Andrew Mashanda said the company’s performance was driven largely by our anchor subsidiary,…
The construction of Paradise Island Resort on Lake Victoria is nearing completion with the first phase of 22 units standing at 80 per cent. Located 20-minutes away by speed boat from Speke Resort Munyonyo in Kampala, Paradise Island Resort is bound to be a draw for honeymooning couples as well as retreat-seeking guests. The project which started…
Whether you are looking for a venue for your next seminar, a conference, or simply a place to accommodate a meeting, training, or workshop, Speke Resort Munyonyo, and Common Wealth Resort conference spaces can provide a perfect environment where great ideas have room to grow. “From a small business meeting to a conference with a…
Several public officials, most recently Investment Minister Evelyn Anite have talked about “mafia” in government but one man Dr. Sudhir Ruparelia knows how to win against them. And unlike public figures who fear to mention the mafia, Sudhir didn’t shy away from saying that former BoU Executive Director In Charge of Commercial Bank Supervision Justine…
Businessman Charles Mbire has bolstered his stake at MTN Uganda after acquiring an additional 2,263,930 shares in the telecom company at a total cost of Shs 459,907,621.00 on the Uganda Securities Exchange. The purchase which took place on August 22 was evidently the signature activity of the day, on Uganda’s Securities Exchange where MTN is…
Recently, the board of DFCU Bank Limited appointed Dr Winifred Mary Tarinyeba Kiryabwire as the Board Chairperson amidst the bank’s staggering status that has seen it losing millions of customers. Remember that Winifred’s appointment was after the bank releasing its 2021 results showing it had lost UGX313 billion or 12% of its customer deposits. Deposits,…
It is no rumor that Dr. Sudhir Ruparelia is renown for his success in business and in the current global recession phase, UNECA estimates that the pandemic may result in 78% decline in GDP growth, from 3.2% to 1.8%. However, Dr Sudhir Ruparelia, has given his insights in one of the safest businesses to venture in…
The New Times Newspaper, a Rwandan media outlet last week reported that the East African country had secured over 134 hectares to aid the production and growing of medical cannabis, providing a huge step as the country moves to reap big from the lucrative medical plant. Last year on October 12, 2021, the Rwandan cabinet…
While Uganda’s banking sector recorded strong financial results for 2021, the Development Finance Company of Uganda (DFCU) Bank continues to reel from its acquisition of Crane Bank in 2017 and the fallout from the Covid-19 pandemic. The third-largest domestic bank in Uganda in terms of assets recorded a 46% drop in profit to USh9.3bn ($2.6m)…
