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In Uganda’s fast-evolving digital financial landscape, two telecom titans—MTN MoMo and Airtel Money—are locked in a high-stakes, trillion-shilling duel. Their battlefield? Mobile money. Their weapons? Revenue, reach, profitability, and performance….
Stanbic Uganda Holdings Limited (SUHL) has once again proven its financial strength, posting a record net profit of UGX 478 billion in 2024, up from UGX 411.5 billion in 2023,…
Hima Cement investor, Sarrai Group is set to take over and re-develop Kilembe Mines based in Kasese District after signing a new agreement with the government. Hima Cement which is also based in Kasese District was acquired by Sarrai Group last year at a transaction value of USD 120 million. The investor signed a mineral production sharing agreement on March 3rd with Energy Minister Ruth Nankabirwa, and Finance Minister Matia Kasaija representing government as signatories. Sarrai Group Ltd and Nile Fibreboard Ltd emerged as the best bidders out of the 14 firms that expressed interest. According to Minister Nankabirwa, this…
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PostBank Uganda has appointed Ibrahim Kato as the Chief Retail Officer. In this new role, Kato will be responsible for the formation and execution of the Bank’s business growth strategy across distribution channels, Fintech Business, Sales, and Bancassurance. Kato is credited for undertaking numerous initiatives and transformations that have significantly contributed to the growth of the Bank’s balance sheet and profitability, as well as its drive for financial inclusion. He is also credited with nurturing a high-performance culture that has greatly impacted overall team performance across the board. His career in banking spans over 15 years, working for both international…
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Part of developing any business idea into a successful company is understanding the addressable market for it. The best ideas often have clear answers to the following questions: Who is the most likely to purchase from you with the least amount of convincing? Who’s already spending money on products like this and what are their defining qualities? To develop a deeper understand of who your business idea can serve, you can: 1.Use technology to conduct a competitive analysis of other businesses in the same space. This is the process of identifying and evaluating other companies providing similar solutions to your…
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In the e-commerce sector, the ability to improve operational efficiency and achieve profitability is the pulse that beats within every organization’s heart. But for most e-commerce startups, including Jumia, it has been a journey marked with highs and lows. However, their Q2 financial report for 2023 reveals an encouraging step towards sustainability as they witnessed a noteworthy decline in losses. The recently published financial data shows Jumia posting an operating loss of $23.3 million for Q2 2023, marking the lowest in four years. The catalyst behind this improved financial health was a significant cutback in sales and advertising expenses. While…
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In an address to the Assembly Hall at the Paulskirche in Frankfurt, Germany on June 25, 1963, the then USA president, John F Kennedy said one of his famous quotes. “For time and the world do not stand still.” he said, “ Change is the law of life.” And change is upon us at SafeBoda. In a LinkedIn post, Rob Sanford announced his promotion to the CEO job at SafeBoda, one of Uganda’s biggest startups. (Read our story about the announcement here). A few days later, his predecessors, Co-CEOs Maxime Dieudone and Alastair Sussock confirmed the news in separate LinkedIn…
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