Browsing: Uganda

The 10 richest investors in companies that are listed on the USE own stakes amounting to $18.5 million. A huge portion of the market is controlled by institutional investors and parents companies of the listed entities while the 10 richest investors control about 0.30 percent of the market’s $6.1 billion valuations.

The USE was named as the best performing stock exchange in Sub-Saharan Africa in 2010.

Currently, there are nine domestic companies listed on the Uganda Securities Exchange.

Regional Financial Services Group, I&M Group PLC has announced an increase of 33 per cent after-tax profit for its 2021…

East Africa’s largest insurer, Jubilee Holdings Limited has announced a Profit Before Tax of Sh5.206 billion, representing an increase of…

Four critical universities best practices for fostering graduate employability are of interest: Industry partnerships, Aligning university education with a country’s development plans, Regular university curriculum reviews, and Strengthening quality assurance systems.

However, while Universities work to better prepare graduates for the workforce, it is imperative for the government and the private sector to step in and increase the employability of graduates who are already in the workforce.

Regional bank Equity Group Holdings has announced a 98 percent growth in half year profits to Sh17.9 billion up from…

Looking at the bigger picture, speculations are that the milk and milk product levies and taxes are designed to lure Uganda to choose favourably towards other trade issues that are pending.

As local Ugandan media puts it; “Uganda maintains that if there are issues that need to be addressed, they can be handled through bilateral arrangements or the regional trade agreements within the East African Community instead of using arbitrary means such as high taxes.”

Squeezing Uganda to act in its favour, Kenya has also imposed what Uganda is terming ‘a restriction to Ugandan diary products since January 2020.’ Notably, Kenya is Uganda’s largest milk trading partner in the region, yet for over an year now, Kenya has maintained restrictions on Ugandan milk products despite the East African Community (EAC) common market protocol.

The agriculture sector in Uganda is estimated to have contracted by close to 1 percent due to reduced export demand…

Low confidence in established financial institutions like banks and savings cooperatives was evident in the survey as they scored a meagre 0.4 per cent and 1.3 per cent as sources of funding for the predominantly informal sector that dominated household enterprises.  

Many of the doubts these business owners have towards expanding their businesses are down to the strained relationship these entrepreneurs have with financial institutions like banks.   

According to the brewer, profit after tax for the period declined 1 per cent to Sh7 billion mainly impacted by cost inflation, tax and foreign exchange impact.

Further, the COVID-19 related tax reliefs in Kenya on corporation tax and VAT ended in December 2020, resulting in higher tax charges for the year as the rates reverted back to pre-COVID levels.

The company said the slower profit growth rate was driven by the impact of cost inflation, adverse foreign exchange and tax charges.

As of July 1, price for petroleum products in Tanzania increased drastically owing to the amendments outlined in the country’s new Finance Act as passed by parliament.  A huge chunk of the money you pay at the pump goes to the government in taxes; in fact the government takes anything between 30 and 40 percent in form of taxes, levies and regulatory fees.

Nonetheless, Tanzania’s Energy and Water Utilities Regulatory Authority (Ewura) still attributed the price hike to global trends, in part admitting to the tax effect and in part deflecting it to global trends.