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Umeme Limited, once the crown jewel of Uganda’s stock market, has left shareholders bewildered and disappointed following a turbulent 2024 marked by a record loss, an unexpected dividend freeze, regulatory…
To unpack the complex intersection of leadership, governance, and organizational resilience, CEO East Africa Magazine’s Paul Murungi sat down with Trevor Ariho, Chief Executive Officer of the League of East…
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…
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Navigating inflationary waters Bank of Uganda Deputy Governor, Micheal Atingi- Ego shares the story of Uganda’s monetary policy in 2024, which he says was one of cautious optimism and strategic actions, which helped keep core inflation (excluding volatile items like food crops and energy) stable. The BoU began the year with a Central Bank Rate (CBR) of 9.5%, gradually increasing it to 10.25% by April, before cautiously easing it to 9.75% by November. This signalled a balanced approach to maintaining monetary stability amidst external and domestic challenges. Concerns about exchange rate volatility, driven by the repositioning of yield-seeking offshore investors…
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Rwanda’s vision of becoming a prominent financial hub makes a substantial advancement with the New Law nº 044/2024 of 30/05/2024 governing banks (the “Banking Act” or the “New Banking Act”). The New Banking Act is enacted following the parliamentary review of the Law nº 47/2017 of 23/09/2017 governing the organisation of banking (the “Repealed Banking Act”). The New Banking Act contains substantial updates to the existing framework and reflects Rwanda’s commitment to fostering a dynamic and adaptable financial sector. 1. Key Drivers of the Reform & Aligning with Evolving Needs Rwanda’s financial sector is undergoing a significant transformation driven by…
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The startup ecosystem in Uganda has experienced remarkable growth over the past five years, with an increasing number of entrepreneurs launching innovative ventures across various sectors. As these startups seek to scale their operations and drive impact, they have turned to investors for funding support. This analysis delves into the funding landscape of Ugandan startups from 2019 to 2024, uncovering key trends and insights that shed light on the startups that have raised the most funding. For a startup to be included on this list, we had a cut-off of at least $1m raised in its lifetime and 16 startups…
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Tugende, Uganda’s pioneering boda boda financing startup, has found itself in a precarious situation with its investor, Goldfinch. The startup, which holds the distinction of being Uganda’s most funded startup according to Digest Africa, has come under scrutiny for a financial transaction that appears to violate its loan agreement. The issue at hand involves a $1.9 million loan that was extended from Tugende Kenya to its Ugandan counterpart. This transaction, while seemingly innocuous, contravenes the stipulations of the loan agreement that Tugende has with Goldfinch. The startup operates through three entities: Tugende Global, their Mauritius-based holding company; Tugende Uganda, their…
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A pitch deck, in its most basic definition, is a brief presentation that provides investors with an overview of your business. It is often created using PowerPoint, Keynote, or Prezi and is typically used during face-to-face or online meetings with potential investors, customers, partners, and co-founders. However, the definition of a pitch deck extends beyond this simple explanation. It is a tool that communicates your business model, your vision, your team, and your strategies to potential stakeholders. It is a narrative that tells the story of your company, its journey, and its future prospects. A pitch deck is a critical…
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On a regular basis, tech publications are awash with stories of startups raising funding from investors, who more often than not, are venture capitalists. This type of funding is called venture capital, and it usually fills a void that most types of financing dont. But like every investor, VC firms have to make returns off their investment. So how do they do it? In this latest article of CEO East Africa explains, we will break down how a typical VC firm makes these returns. But first, lets understand what venture capital is. What is venture capital? Venture capital is a…
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CEO East Africa is thrilled to announce the launch of a groundbreaking series of articles titled “The Investors’ Digest,” which aims to shed light on the investors that are backing Ugandan startups. In this inaugural edition, we had the exclusive opportunity to speak with Petra Wolkenstein, the General Partner of Startup Wise Guys (SWG) Africa. With its headquarters based in Vienna, Austria, SWG has garnered a commendable reputation as one of the first investors in African startups. SWG’s commitment to fostering innovation and entrepreneurship across the African continent is evident in its extensive portfolio, which spans Ghana, Nigeria, Kenya, Tanzania,…
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