Due to the ever-changing working environment, Financial Officers have been tasked to focus on value addition rather than only focusing on numbers within the organisations they serve to fit into the future Chief Value Officer role. To better understand this, CEO East Africa Magazine’s Nelson Mandela sits down with Deloitte Uganda Country Managing Partner, Mr. Norbert Kagoro in a ten-questionnaire interview. To begin with, who is a Chief Financial Officer? A CFO is ordinarily a head of finance. The CFO does quite several things but is responsible for analysing how well an organisation is meeting its financial obligations. Recently, we…
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Jumia, Africa’s leading e-commerce platform, has announced the appointment of Vinod Goel, as Uganda’s new Chief Executive Officer. Vinod takes over the leadership mantle from former CEO, Ron Kawamara who is leaving to pursue a big impact opportunity that has presented itself. Vinod will focus on making Jumia sharper and faster to delight more and more customers with their needs. He will also work closely with partners and vendors to make Jumia their most preferred sales channel. Vinod joined Jumia 18 months back as Head of Fulfillment overseeing operations across all Jumia markets. He played a pivotal role in making…
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Justice Ssekaana Musa of the High Court (Civil Division) issued an order striking out the pleadings and/or dismissing the consolidated suits in HCCS No. 66/2017, HCCS No. 678/2017, HCCS No. 330/2013, HCCS No. 351/2018, and HCCS No. 134/2017 against city tycoon Hamis Kiggundu alias Ham and the board of trustees Nakivubo stadium. Ham, together with the board of trustees Nakivubo filed an application against Katende Steven & 2 others, Mukwaya Jimmy & 245 others, Lugya Moses & 85 others, Kabeera Ezra & 4 others, Kakande Bernard, Mbidde Ahmed & 7 others seeking declarations and orders striking out pleadings and dismissing…
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The High Court in Masindi has ordered the Uganda Land Commission and The Attorney General to compensate a sum of Twelve Billion Uganda Shillings to Henry Muganwa Kajura, a Ugandan administrator and politician who until 2016 served as the First Deputy Prime Minister and Minister of Public Service. Kajura claims that his land comprised in LRV 2836 Folio 17 Buruli Block 10 Plot 66 measuring approximately 982.5560 hectares is occupied by squatters whom he alleges illegally accessed back in the 1986 liberation struggle. He adds that today, it is developed by the agents of the Attorney General with permanent establishments…
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MTN Uganda has remained resilient in the first nine months of 2022, navigating the prevailing tough macroeconomic conditions, to deliver double-digit service revenue growth in line with our medium-term guidance. The telecommunication giant recorded 11.5% to Ush 1,667.3 billion service revenue growth in its unaudited results for the nine-month period ended 30 September 2022. The company’s Chief Executive Officer, Sylvia Mulinge says that they invested a total of Ush276.7 billion in their network and systems, which has enabled double-digit performance. “Our investment is also focused on our ESG objective of reducing greenhouse emissions and adopting renewable energy in line with…
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Financial experts have lectured Ugandans on how to grow and protect their finances during a financial wellness class organized by UAP Old Mutual and PostBank. The webinar which aimed at driving financial empowerment for Ugandans featured financial experts including Julius Kakeeto, the Managing Director/CEO, PostBank, Andrew Kabeera, the Executive Director, PostBank, Prof. Samuel Sejjaaka, acclaimed accounting and finance expert, Gloria Wakooba Tuhaise, Deputy Director, Procurement and Disposal Department at Bank of Uganda alongside Tonny Mudoola, the Ag. Managing Director, UAP Old Mutual Life Assurance and Jonan Kisakye, the Chief Executive Officer of Uganda Insurers Association (UIA). These shared issues were…
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Business conditions for Uganda’s private sector were unchanged at the start of the fourth quarter of the year, following two months of improvement, the latest Stanbic Purchasing Managers’ Index (PMI) released reads in part. The headline Stanbic PMI for October was 50.0, the no-change mark signaling stable business conditions during the month, but down from 51.6 recorded in September and below the average since the survey began in June 2016. However, on a positive note, the October survey shows that output, new orders and employment all expanded. The latter for the first time in five months and there were reductions…
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MTN Uganda has declared an interim dividend of UGX 5.4 per share, a total of UGX 120.9 billion, after its net profit surges 21% to UGX 292.7billion for the nine months ending 30th September 2022. This is the second time that MTN Uganda has declared interim dividends to its shareholders this year, with the latest payment expected to be effected on 22nd December to shareholders on the register as at 1st December 2022. “The dividend will be transferred electronically to the bank accounts or mobile money wallets of shareholders,” MTN Uganda said in a statement. MTN Uganda’s service revenue rose…
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Tembo Steels (U) Limited has been crowned the Overall Best Exhibitor 2022 at the 28th Uganda International Trade Fair and Exhibition. Welcoming the accolade, Manish Kalla, the company General Manager said, “This is East Africa’s largest integrated steel plant that has forward to backward integration of steel.” Tembo Steels recently commissioned a $200-million iron ore smelting plant in Iganga, eastern Uganda with a capacity to process 1.2 million tons of metal annually. It is one of East Africa’s largest companies with an interest in manufacturing hot and cold rolled profiles, Strategic investments made by the company have resulted in the…
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Uganda Development Bank Ltd (UDB), the country’s national Development Finance Institution, has released its Quarter Three (Q3) of 2022 results highlighting solid growth as the Bank continues to facilitate economic recovery through tailored interventions that suit the country’s development needs. Through Q3, which covered the months of July, August, and September, UDB’s investment portfolio (gross loans) improved by 15% to close at UGX1.18trillion. Compared to the previous year, the annual growth registered was in the highs of 57 per cent. During the quarter, the Bank approved funding amounting UGX333 billion and disbursed UGX237 billion. “The funding was allocated to 72…
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