Business

After his swearing-in for the 6th official term in office, President Museveni has embarked down already to business. This was during a meeting held at State House Entebbe where the president met American singer Akon and his entourage. The president went ahead to assure this group of peace and stability amidst their pending investment adventures in Uganda. Since the start ...

“If you want to succeed as a true entrepreneur, stay away from involvement in politics,’ Zimbabwean billionaire Strive Masiyiwa said through his Facebook page. When the International Finance Corporation [part of the World Bank] made an investment in my business, under their Venture Capital Initiative for small businesses in Africa, they required me to have a mentor. They chose a ...

Ugandans have been warned by the Capital Markets Authority (CMA) to be wary of a surge in economic crimes. The authority said the main part of the focus is the illegal fund managers, fictitious pyramid schemes, and Ponzi schemes. The CMA’s attention focused on the Alliance In Motion Global (AIM Global), one of the numerous firms under investigation by the ...

Centenary Bank registers a 26% growth in its previous financial year amid covid crisis. It attached this to the increased customer deposits and investments.According to it’s financial statements for the year ending December 31st, 2020, the total assets grew to Shs 4.49 trillion from Shs 3.57 trillion in 2019. The bank saw it self crossing the Shs 4 trillion mark ...

The Ugandan market has seen a new entrant today as Kenyan Banking group, I&M Holdings has acquired Orient Bank Ltd. The bank is the 12th biggest in Uganda and the acquisition sees I&M take 90% of the bank from a UK-based investment group. The previous owners of Orient Bank were 8 Miles LLP and Morka Holdings Limited, a financial company ...