Verve Cards Now Accepted on Uganda’s KCB Bank Network

Posted by - March 3, 2022

Verve and KCB Bank Uganda Limited (KCB Bank) have announced a new phase of their partnership, which will see KCB Bank become one of the first commercial banks to accept the Verve Card on its widespread and strategically distributed Point of Sale (POS) merchant network. Head of Products and Operations at Interswitch East Africa, Uganda

Tullow leaves Uganda project, sells stake to Total for $575m

Posted by - April 24, 2020

Tullow Oil announced that Total has agreed to buy its entire stake in their joint onshore oil fields in Uganda for $575 million as part of its target to raise $1 billion this year to tackle its $2.8 billion debt pile. Tullow, whose shares have shed around 90% since last April and whose market capitalisation

IFC inks Shs7bn deal with Agent Banking Company to boost access to financial services in Uganda

Posted by - April 30, 2019

The Agent Banking Company, that gathers banks and financial institutions on the same platform, and the International Finance Corporation (IFC) signed a $1.9 million agreement to develop a network of banking agents in rural zones within 30 months and boost access to financial services. The partnership between Agent Banking Company and IFC was officially launched

Uganda Considers Review of Eskom contract on power sector

Posted by - March 13, 2019

Legislators of Uganda have asked for the termination of Eskom’s contract with the Electricity Generation Company due to the company’s inability to fulfill the agreement in the contract. The Ugandan government explained that it will consider re-draft of the concession model used by the company to operate the electricity subsector for the past 15 years.

Uganda Struggles to Meet Fiscal Deficit Target Ahead of Monetary Union

Posted by - May 31, 2018

Uganda plans to reduce investment in infrastructure in an effort to reduce its fiscal deficit in the run-up to joining the East African Monetary Union in 2024. The decision was taken as it emerged that the government would have to choose between joining the Union and completing its major infrastructure projects. Some government officials have

Coca-Cola Eyes U.S. $12 Million Fruit Factory in Uganda

Posted by - May 31, 2018

American multinational beverage corporation, the Coca-Cola Company will be relieved to hear that the highly awaited fruit factory in Uganda will commence operations soon. The $12 million rated fruit factory has not operated since its construction began back in 2015, suffering a heavy setback to the key players and the farmers who had anticipated for