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Airtel Uganda closed the first half of 2025 with another step up in scale and profitability, as data demand propelled revenue growth and a strong lift in earnings. Reported revenue…
A consortium of commercial banks has initiated proceedings to auction off several prime properties belonging to the late billionaire businessman, Apollo Nyegamehe, popularly known as Aponye, in a sweeping debt recovery effort targeting loan arrears exceeding UGX 15 billion. According to sources close to the matter, dfcu Bank and the Uganda Development Bank (UDB) are among the financial institutions actively pursuing recovery of non-performing loans that were extended to Aponye’s business empire, primarily through his flagship company, Aponye (U) Limited. The debt portfolio, which has grown due to interest accumulation and prolonged non-repayment, is reportedly higher than initially estimated, with…
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MTN in 2024 delivered yet another solid year, cementing its place as Uganda’s most profitable and actively traded listed company. With double-digit revenue growth and record earnings, the telecom giant showcased operational strength and investor confidence. Yet, looming over this strong performance is a strategic pivot that has analysts sounding the alarm: the planned spin-off of its fintech arm—MoMo—could significantly alter the company’s growth trajectory and valuation dynamics. Fintech Fuelled, But For How Long? MTN Uganda’s total revenue surged by 18.87% to UGX 3.17 trillion ($857.49 million) in FY2024, up from UGX 2.67 trillion in FY2023. Of this, fintech services…
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A growing diplomatic rift between Uganda and Germany threatens to cast a shadow over critical development projects, ranging from refugee support to energy infrastructure. The fallout, which stems from escalating tensions over governance and human rights concerns, may trigger economic spillovers that could stall or jeopardize Germany’s ongoing aid-funded initiatives in Uganda. A UPDF statement authored on May 26, cut military cooperation ties with Germany, with accusation that the German Ambassador in Uganda, His Excellency Mathias Schauer was engaged in illegal and clandestine activities. Germany’s development support to Uganda has traditionally taken the form of concessional financing and grants, aligning…
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By Charity Atukwatsa Mutagamba Take a moment and picture a student at school walking into the canteen, confidently swiping their S-Wallet card, and receiving cash to pay – no fear…
A leaked memo from the Office of the Prime Minister reveals that the government of Uganda plans to review and possibly approve borrowing proposals amounting to over USD 1.6 billion (UGX 5.8 trillion) during a cabinet-level meeting scheduled for Wednesday, March 26, 2025. The meeting, convened by the Prime Minister, is expected to consider 12 separate loan requests from various ministries and government agencies, targeting key sectors such as roads, energy, water, health, agriculture, and financial services. Loan proposals listed in the memo: €186.97 million and an additional €19.46 million from the African Development Bank for the Busega–Mpigi Expressway. €198.6…
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Ugandan startups raised $19m in 2024, bouncing back from the lowly $4.8m that they raised in 2023 as per Africa: The Big Deal database. Africa: The Big Deal database is a database that captures African startups’ funding since 2019. For a startup to be classified as African, it must be operating in Africa with an HQ on the continent, or one with an HQ outside Africa but with African founders building for Africa. The database also captures publicly disclosed deals or those shared by investors/founders. It captures deals from $100k since 2021. The $19m raised in 2024 is way off…
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The 2024/2025 financial year is here and the Government’s fiscal strategy aims at attaining inclusive economic growth, while maintaining a stable macroeconomic environment and preserving debt sustainability; it will require sh72 trillion. As an infrastructure financing enthusiast, I am happy with the Government’s goal of achieving fiscal strategy through continued investment in public infrastructure for inclusive growth — that is the right way to go. Public infrastructure is wide, but the most important aspects would cover transportation (bridges, roads, airports, rail transport), water (water supply, water resource management, sewage and drainage systems) and energy—power generation and distribution. Given the revenue…
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