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TodayFriday, April 24, 2026

Uganda Business News- Page 8

Entrepreneur Vasundhara Oswal, the executive director of PRO Industries and Oswal Group Global

Billionaire’s Daughter Vasundhara Oswal Sues Senior Ugandan Police Officers, Seeks Return of $200,000 Bond Money

Indian-Swiss entrepreneur Vasundhara Oswal has filed a human rights petition at the High Court of Uganda against several high-ranking security and prosecution officials, accusing them of orchestrating her arbitrary arrest, illegal detention
February 17, 2026
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A photo collage of President Museveni, Jenifer Bamuturaki, former Uganda Airlines CEO, and Girma Wake, the former Ethiopian Airlines CEO who is now charged with the leadership transition at Uganda Airlines

Museveni Appoints Girma Wake Acting CEO of Uganda Airlines, Directs Bamuturaki to Step Aside

President Yoweri Museveni has directed that former Ethiopian Airlines Chief Executive Officer Girma Wake be appointed to lead a management transition at Uganda Airlines, amid ongoing efforts to stabilise the national carrier
February 16, 2026
Prof. Augustus Nuwagaba, Deputy Governor of the Bank of Uganda, may have just let the cat out of the bag on Uganda’s glittering gold export boom — providing vital clues to the elephant in the room of the country’s overnight success story, long touted by government as proof of recent economic momentum: whose gold is it, really?
Prof. Augustus Nuwagaba, Deputy Governor of the Bank of Uganda, may have just let the cat out of the bag on Uganda’s glittering gold export boom — providing vital clues to the elephant in the room of the country’s overnight success story, long touted by government as proof of recent economic momentum: whose gold is it, really?

‘It May Not Be Ours’: Deputy Central Bank Governor Suggests Uganda’s Sudden USD6.4 bn Gold Boom is Fuelled by Re-Exports

The Deputy Governor, Bank of Uganda, Prof. Augustus Nuwagaba, has drawn attention to a key structural feature of Uganda’s recent gold export performance: while gold has become the country’s largest source of
February 13, 2026
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Mrs. Rebecca M. Mbithi (Right) is the new Managing Director, succeeding Mrs. Josephine Anan-Ankomah (Left), who fully transitions to a regional role within Ecobank Group.

Ecobank Kenya Names Rebecca M. Mbithi New Managing Director as Anan-Ankomah Retains Regional Role

Ecobank Kenya has named Mrs. Rebecca M. Mbithi as its new Managing Director, succeeding Mrs. Josephine Anan-Ankomah, who has fully transitioned to a regional leadership role within Ecobank Group. Mbithi’s appointment takes
February 11, 2026
Sitoyo Lopokoiyit will step down as CEO of M-PESA Africa on 31 March 2026, closing a transformative chapter that saw the platform expand across eight African markets and evolve into a fully integrated fintech ecosystem.

Absa Group Appoints M-PESA Africa CEO Sitoyo Lopokoiyit as Head of Personal and Private Banking

Absa Group has confirmed the appointment of M-PESA Africa chief executive Sitoyo Lopokoiyit as the new head of its Personal and Private Banking division, marking a significant leadership move as the South
February 11, 2026
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Charles Mbire (left) and NSSF Managing Director Patrick Ayota (right) pictured with the MTN Uganda logo as MTN shares rally and NSSF’s stake surpasses UGX 1 trillion.
Charles Mbire (left) and NSSF Managing Director Patrick Ayota (right), whose MTN Uganda shareholdings have surged in value as the telecom’s stock rally pushed NSSF’s stake past UGX 1 trillion.

NSSF stake in MTN Uganda hits UGX1 trillion

MTN Uganda shares have staged a strong rally on the Uganda Securities Exchange (USE), delivering massive gains to its largest local investors in just eight weeks as the stock surged by UGX116
February 9, 2026
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A photo collage of UBC Managing Director, Mr. Agaba Winston David and Auditor General, Mr Edward Akol

UBC Records UGX 7.5bn Loss as Financial Pressures Deepen

Uganda Broadcasting Corporation (UBC) reported a loss after tax of UGX 7.5 billion in the 2024/25 financial year, a sharp deterioration from the UGX 1.432 billion loss recorded the previous year. According
February 8, 2026
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