Asahi Group Holdings, the Japanese brewing and beverages giant, has picked Absa Bank Kenya PLC, ENS Africa, A&O Shearman and Nomura Holdings to advise on its USD 2.3 billion acquisition…
When veteran journalist Andrew Mwenda posted a video of weary passengers stranded at Entebbe International Airport, his words cut deeper than the images themselves. “The tragedy happening at Uganda Airlines…
Kenya Gov’t to Sell 15% Safaricom Stake to Vodacom in KShs 241 billion (UGX 6.5 Trillion Deal) The Kenyan government Kenya has officially begun the process of selling a 15…
They say actions speak louder than words, and with Paloma Lengema at the helm, BIC’s impact is clear, sharp, bold, and lasting like the iconic Cristal pen. Rising through BIC’s…
When Dr. Layi Fatona took the stage at the Stanbic Bank East Africa Economic Summit in Kampala, there was a certain stillness in the room — the kind that precedes...
Ali Monzer, a seasoned telecommunications professional has been appointed the new Chief Executive Officer of MTN Rwanda. He replaces Ms. Mapula Bodipe, a South African national who has been holding the position since September 2022. Mr Monzer spent close to a year as the MTN South Sudan CEO from April 2024, a relatively short period for a serving CEO. Before moving to restive South Sudan, Mr Monzer had been a household name in Uganda’s telecommunications sector, where he had spent close to six years as the MTN Uganda Chief Technology and Information Officer. Mr Monzer has over 24 years…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
Uganda Airlines has officially launched direct flights to London, United Kingdom. The airline will fly four times a week using the Airbus A330-800neo. Ms Jennifer Bamuturaki, the Uganda Airlines CEO said in a Thursday press briefing in which the London route was launched, the lunch coincides with the airline’s 5th anniversary, marking the end of the establishment phase and setting the course for a long term growth and expansion. She noted that the acquisition of the London route followed meticulous planning, preparations and many setbacks since 2020 when the airline first acquired slots in the UK, which was partly disrupted…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
The Uganda Electricity Distribution Company Limited (UEDCL) has absorbed an estimated 2,200 of Umeme staff, out of the 2,400 staff that the private power distributor holds currently. UEDCL Managing Director, Paul Mwesigwa revealed the details in an exclusive interview with the CEO East Africa Magazine, noting that, “while the biggest percentage of staff will cross over to different departments [in the power distribution value chain],” the unabsorbed staff will be outsourced through subcontracting dismissing fears of unemployment. The Energy Ministry in a Wednesday statement said the restructuring process of UEDCL involved a fair, transparent, and merit-based recruitment process with the…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
The Uganda National Bureau of Standards has contracted inspection services of three international firms to provide Pre-Export Verification of Conformity (PVOC) for used motor vehicles, and other related equipment for a period of one year, effective 20th March, 2025. PVOC is an inspection and verification program carried out on goods by appointed inspection agents in the country of export. The three firms that will conduct the inspection program include; Auto Terminal Japan (ATJ), Quality Inspection Services Inc. Japan, and EAA Company Limited in Consortium with East Africa Auto Technical Testing and EAA UK Inspections Limited. UNBS noted that program applies to…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
Leading African private equity firms Alterra Capital backed by Nigerian Billionaire and Africa’s richest man, Aliko Dangote, and Phatisa- an equity firm, have signed agreements to acquire 100% of Java House Africa, from UK’s emerging-market investor Actis, for an undisclosed sum. A statement released by the two equity firms yesterday notes that the investment marks a significant milestone in Java House’s growth journey, reinforcing its position as a category leader on the continent. Founded in 1999, Java House has grown into a household name, offering high-quality coffee and a diverse menu to customers across Kenya, Uganda, and Rwanda. The company…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
The Commercial Division of the High Court in Uganda has ordered Kenyan businessman Atul Shah to pay Megha Industries Uganda $358,431 (UGX 1.3 billion) and UGX 24.3 million for breach of a lease agreement linked to defunct Nakumatt Uganda. The case, presided over by Justice Patience T.E. Rubagumya, arose from a dispute over unpaid rent and utility bills for retail space at Victoria Mall in Entebbe, Wakiso District. Court found that Mr Shah, as a co-principal debtor and surety under a tenancy agreement signed in 2017, was liable for the unpaid rent arrears due to Nakumatt Uganda that had remained…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
Now that we know we have an idea of the Umeme buyout amount, what could be in it for shareholders? Umeme has since last year been one of the most active counters at the Uganda Securities Exchange, with analysts citing the expected buyout windfall as the biggest push factor for the activity. In April last year, the stock posted a gain of 9% to UGX 439.75, a growth that had last been witnessed in June 2023. But it slightly declined and by last week, it was range bound at UGX415 ($0.11), with a projected increase ahead of the expiry of…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
British International Investment (BII), UK’s development finance institution and impact investor, has sold its 10.1% stake in I&M Group PLC, East Africa’s banking group, to AfricInvest. The acquisition was made…
In fact, it will be the first time the Central Bank has had a chairman in more than 36 months since Emmanuel Tumusiime Mutebile’s death on January 23, 2022. The Bank of Uganda has not had a governor—not even in acting capacity—which, in essence, means that the bank has not had a chairman, either. The Bank of Uganda board is constituted so that the governor is automatically the chairperson, who is deputised by the deputy governor. The board is also composed of five non-executive members and a board secretary, who, together with the chairman and his deputy, have the…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
