ACCA Uganda and Deloitte have officially unveiled the 6th edition of the Chief Financial Officer (CFO) Awards. The much-anticipated awards will be held on October 27, 2022 under the theme “ESG: Reporting, Societal Impact and Environmental Transformation”. The CFO Awards aim at recognizing the role that CFOs and finance functions play within organizations, highlighting the good business and finance practices while raising the profile of this strategic role. The awards are part of the bigger CFO agenda which presents a platform to share best practice, drive awareness, inspire action and develop a community of finance leaders committed to creating more…
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The Institute of Certified Public Accountants of Uganda – ICPAU, a national professional accountancy organisation has commemorated 30 years of existence. This was during the 27 ICPAU Annual Seminar held at the Imperial Resort Beach Hotel in Entebbe on Wednesday under the theme “resilience in a dynamic environment.” In his welcome remarks, CPA Derick Nkajja, the ICPAU Secretary and CEO noted that it has been on eventful period full of operational, physical, emotional, mental and social resilience. He said that over the last thirty years, they have been operating in a challenging environment- with the pandemic, the escalating cost of…
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Liberty General Uganda and Multilines International Limited have this morning officially launched the Marine and Cargo Insurance. This follows the announcement by the Government of Uganda, through the Uganda Revenue Authority (URA) in partnership with the Insurance Regulatory Authority (IRA) who on 1st July 2022, imposed a law mandating all cargo imported into Uganda by sea, air, rail or road must be insured by locally owned insurance companies. The law was intended to protect Ugandan importers and exporters whose goods were covered by offshore insurers facing long and complicated processes, especially when filling insurance claims. Here, shippers shall pay marine…
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Uganda Securities Exchange (USE) Uganda’s principal stock Exchange, has on Monday announced the admission of Chipper Technologies Uganda Limited as a new Trading Participant/stockbroker on its market and as a USE Securities Central Depository Agent (SCDA). As a trading participant, Chipper’s core mandate is to enable existing and potential investors execute transactions in relation to shares and bonds listed on USE by providing stock brokerage services in line with the rules of the Exchange, the Capital Markets Act and regulations thereunder. “Having acquired a stockbrokerage license from the Capital Markets Authority (CMA) and having satisfied the eligibility requirements to be…
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Makerere University continues to commemorate 100 years of serving Ugandans and the world at large. Since its humble beginning in 1922, Makerere University has been able to transform communities and societies through its wealth of human capital, numerous research outcomes and technological innovations that have served Africa and the world in general. The University has on Wednesday afternoon signed a media partnership with the Uganda Broadcasting Corporation – UBC as part of the efforts to publicize the celebrations. The Memorandum of Understanding between two institutions were signed by the University Vice Chancellor, Prof. Barnabas Nawangwe and the Corporation’s Deputy Managing…
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Equity Group half year results continue to reflect a sustained digital transformation with 99% of all customer transactions now happening outside the branch network. Releasing the results, Dr James Mwangi, Group Managing Director and CEO noted that Covid-19 acted as a tailwind to their efforts of digitising the business. “The business transformation has supported recovery and built resilience in the business. Going online and virtual through digitisation has brought ease and convenience to our customers resulting in increased uptake of our products and growth of the business”, added Dr Mwangi. The Group’s recovery and resilience strategy saw the Group’s profit…
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In partnership with Airtel Uganda, Microsoft and MC3 Cloud will provide Microsoft Office 365 services to enable business customers to access Microsoft Cloud Services that help to improve business operations while maintaining good security of Business data and information. Microsoft 365 is a cloud-based productivity tool designed to help individuals or organizations pursue or meet their online productivity goals while maintaining the required security. The Businesses can concentrate on the delivery of their core business, while Airtel Uganda and Microsoft will take away the worry about online collaboration, security, and productivity of the teams. More than just apps like Microsoft…
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Umeme Limited has released its unaudited interim condensed financial results for the six months’ period ended June 2022. In the financial statement signed by the company Chairman and MD, Patrick Bitature and Selestino Babungi respectively, despite the challenging macroeconomic environment, the electricity sector was resilient and posted a 9% increase in energy demand, due to the opening of the economy since January 2022. “The economy was on course for a strong rebound at the start of the year, helped by higher domestic demand amidst the easing of pandemic-curbing restrictions,” they said. “However, the challenging global environment in the wake of…
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In spite of an unpredictable operating environment characterized by global price instability and a tightening of monetary policy by Bank of Uganda to curb imported inflationary pressures, Stanbic Uganda Holdings Limited (SUHL) reported a half year profit-after-tax of UGX162 billion ending June 30, 2022. This is up from UGX158 billion recorded during the same period last year, indicating a 4.7% improvement. Speaking during presentation of the SUHL 2022 half-year results, the Chief Executive, Andrew Mashanda, said, “our performance was driven largely by our anchor subsidiary, Stanbic Bank Uganda Limited. Our new subsidiaries are continuing to deliver green shoots of hope…
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Absa Group headline earnings increased 27% to R11 billion (about UGX2,531,000,000,000) in the first half of the year as revenue increased, demonstrating a continued strong recovery from the global economic downturn in 2020. Absa reported solid pre-prevision profit for the first half of the year, supported by revenue which rose by 14%, underpinned by growth across our business units and supported by a rebound in the insurance business in South Africa and increased interest rates across key markets. Net interest income and non-interest income rose 12% and 18%, respectively. “Our strong results reaffirm the strategic choices we made in 2018…
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