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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…
Airtel Uganda, a leading provider of telecommunications and mobile money services, recently presented a dividend cheque of UGX 50.3 billion to the National Social Security Fund (NSSF). This significant payout follows NSSF’s strategic acquisition of shares in Airtel Uganda during the company’s initial public offering (IPO). This payout follows Airtel’s 2023 decision to list in Uganda, becoming the second telecom company on the Uganda Securities Exchange. The company offered 8 billion ordinary shares representing 20% of its equity at UGX 100 per share. While the IPO raised UGX 211.4 billion, below the UGX 800 billion target, it attracted 4,614 new shareholders…
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Airtel Uganda, a leading provider of telecommunications and mobile money services, today presented a dividend cheque of UGX 50.3 billion to the National Social Security Fund (NSSF). This significant payout follows…
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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At least 201 companies have been liquidated in the five years to June 2024, data from Uganda Registration Services Bureau (URSB) indicates. However, new business registration has equally grown, with at least a combined 117,369 new companies registered in the same period. Details contained in the URSB annual reports for the last five years indicate that the number of liquidated companies has been growing, signaling an increasingly tough operating environment that has been characterised by dampened economic activity and a technological shift. Business liquidations have grown exponentially, increasing by an annual average of 86.6% in each of the five years…
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dfcu Bank is set to pay a final dividend of UGX 6.8 billion to its 3,851 shareholders by August 31st after the Board of Directors made a final approval at the Annual General Meeting held at Hotel Africana on Thursday this week. Speaking on behalf of the Board of Directors, Mr Jimmy Mugerwa, the Chairman Board said the bank upheld a strong tradition of shareholder returns, proposing a dividend of UGX 9.10 per share for 2023 which represents a 2.1 percent increase from the UGX 8.91 per share distributed in 2022, underscoring our unwavering commitment to enhancing shareholder value. Mr….
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9th October 1962 – in a highly anticipated ceremony, the official flag for Uganda was hoisted, to signify the end of colonial rule and the start of a new era of Independence for the country. Uganda had been a British Protectorate from 1984 and on the same day, the Union Jack, the national flag of the United Kingdom was lowered. Two years after the historic National Independence Day, dfcu Limited opened its doors. Originally, it was set up as a development finance institution by the UK’s Colonial (later Commonwealth) Development Corporation (CDC) and the Government of Uganda. Six decades and…
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Dr. Mahmoud Momtaz, the Chairperson of The Common Market for Southern and Eastern Africa (COMESA) Competition has cleared the merger and acquisition of Uganda’s Finance Trust Bank with Nigeria’s Access Bank, a decision that is slated to impact market dynamics in East Africa’s banking industry. Access Bank will acquire up to 80.89% of the issued shares, which is a subscription of 35 million ordinary shares pursuant to the proposed capital investment into Finance Trust Bank from the initial proposed acquisition of 69.7 percent. Upon completion of the proposed transaction, Finance Trust Bank institutional shareholders including, Oiko Credit Ecumenical Development Cooperative…
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