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The Managing Director of Uganda Clays Limited, Reuben Tumwebaze, has resigned, bringing to a close a nearly five-year tenure (March 2021–January 2026) defined by heavy capital investment, uneven operating results, and a return to sustained losses. Multiple sources indicate that the resignation was not entirely voluntary, but came under mounting pressure from the Board, amid growing concern over the company’s financial trajectory. Tumwebaze’s exit comes against a stark numerical backdrop. During his tenure, Uganda Clays’ total asset base expanded sharply—from UGX 62 billion in 2019 to UGX 78.7 billion by mid-2025—reflecting an aggressive investment and capacity-building programme. However, profitability peaked…
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East African CEOs are charging into 2025 with a sharpened strategic lens—facing volatility with resilience, embracing transformation with intention, and leveraging technology with purpose. PwC’s 28th Annual Global CEO Survey – East Africa Perspective reveals a region where business leaders are not only optimistic about the future but are already well into a reinvention journey. “Reinvention as a strategic imperative remains the main theme of this year’s report, as East African CEOs remain focused on innovation and adapting to evolving market conditions,” says Peter Ngahu, Regional Senior Partner, Eastern Africa. This East Africa edition of PwC’s 28th Annual Global CEO…
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MTN is expected to complete the separation of its financial technology (Fintech) business from its listed company under MTN Uganda in the first half of this year. The separation, which MTN Group chief executive officer Ralph Mupita told Bloomberg is part of the requirements for a reorganization in preparation for a $200 million (UGX 732.2 billion) capital investment by Mastercard in the company’s Fintech business, is more advanced in Uganda and Ghana, but remains behind schedule in Nigeria due to a complex regulatory landscape that requires additional processes before the separation is finalised. In July last year, MTN Uganda, in…
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