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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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Stanbic Bank Uganda, Uganda’s largest bank and a subsidiary of the Standard Bank Group, Africa’s largest banking group has said that it is still doing its own due diligence on financing of the East African Crude Oil Pipeline (EACOP). However, the bank added that it is as committed to strict adherence to global standards on environment and social safety, as it is committed to a just energy transition. Responding to a question during the just-ended presentation of the bank’s 2023 financial performance, held at the Kampala Serena Hotel on March 25, 2024, Paul Muganwa, the Head of Corporate and Investment…
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Francis Karuhanga, a Ugandan, has been named the new Chief Audit Officer at Standard Group. “It is with great excitement that we announce the appointment of Francis Karuhanga as our new Chief Audit Officer, effective from 15 April. Francis takes over from Mike White, who has upheld the highest professional standards during his tenure. With over 21 years of experience in the financial industry, Francis’ astute leadership will be central in taking the Internal Audit function to greater heights,” Standard Bank, which is the parent company for Stanbic Bank announced. Francis has grown through the ranks within the Group, starting…
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