Month: March 2024
MTN’s Shs 493 Bn Profit: Powered by Service, Voice, Data, and Fintech Revenue
In its latest financial report, MTN Uganda reveals robust growth and promising prospects for the future amidst challenging market conditions. Mobile subscribers surged by 13.3% to reach 19.5 million, contributing to a revenue of shs 493.0 billion. Profit After Tax (PAT) also saw a notable increase of 21.4%. The total dividend for 2023 rose by…
EA SECURITY CHIEFS PLAN TO END ARMS TRADE
Security chiefs in the East Africa region are banking on new technology to combat illegal arms smuggling by enhancing tracking of the sources, border patrols and inventories of weapons in legitimate hands. The discussions arose this week as delegates from 26 African countries gathered in Nairobi to review a common position on arms control, ahead of…
EAC PETER MATHUKI APPOINTED KENYA’S AMBASSADOR TO RUSSIA
President William Ruto has appointed East African Community (EAC) Secretary General Peter Mathuki as Kenya’s Ambassador to Russia. Mathuki was among the new Ambassadors unveiled by the president’s office on Saturday. Mathuki will be replaced by Ms Caroline Mwende. However, Mwende’s appointment will require the endorsement of the EAC Heads of State Summit. The development marks…
LOCAL BUSINESSES STRUGGLE AMID INFLUX OF FOREIGNERS
The influx of different traders, especially the Chinese, has changed the trade dynamics in Uganda’s downtown business – the heart and soul of the country’s local trade industry – creating what many see as an unfair ground. For example, while the Chinese traders can tap into their home country’s cheap labour and low interest rates…
UPC CANDIDATE SARAH AGUTI NYANGKORI TO BE NOMINATED TODAY
The Electoral Commission (EC) will on Monday, March 11, 2024, nominate Uganda People’s Congress (UPC) flag bearer Ms. Sarah Aguti Nyangkori to participate in the Dokolo District Woman Member of Parliament by-election. Nyangkori who will be accompanied by party President Mr. Jimmy Akena and other top bigwigs will be nominated at 11:00 AM at Electoral…
IMF DISBURSES US$ 120 MILLION LOAN TO UGANDA
The International Monetary Fund (IMF) has disbursed a USD 120 million loan to Uganda under the Fund’s Extended Credit Facility (ECF) program. “The Executive Board of the International Monetary Fund (IMF) concluded the fifth review of Uganda’s Extended Credit Facility (ECF) Arrangement. The completion of the fifth review enables the immediate disbursement of SDR 90.25…
KAMPALA TRADERS NOT YET AWARE OF GOV’T BAN ON SALE OF MEAT
It is business usual in abattoirs in Kampala despite the Ministry of Agriculture directive banning the sale of meat and closure of all slaughter places in Kampala over foot and mouth disease Dealers in meat say they have not received any notification about the closure. Government has reported cases of foot and mouth disease in Rubaga…
MUSEVENI LAUNCHES NEW WOMEN ENTREPRENEURSHIP PROJECT
President Museveni has launched a new women entrepreneurship project that he says, if taken serious, will not only uplift women but also help leverage their ability to tap from other government programmes. The World Bank-funded Generating Growth Opportunities and Productivity for Women Enterprises Uganda project, that is being promoted locally under the acronym GROW, is…
Legislation that could lead to the unavailability of TikTok in the US progresses swiftly in the House.
Legislators are raising concerns about the app’s capacity to spy on and manipulate Americans, which is driving a bill in the House that could make the popular video-sharing app TikTok unavailable in the country. Although White House press secretary Karine Jean-Pierre stated that the TikTok legislation “still needs some work” before President Joe Biden would…