Shares
Lycamobile has been granted a National Telecommunication Operator licence by the Uganda Communications Commission, making it the country’s third national operator. This licence was granted on March 24, 2021.
Lycamobile’s application was approved following a change to the country’s licensing framework in 2020, which allowed the country’s telecom operators to apply for any licence they choose.
As part of the requirements for the new licence, Lycamobile is expected to increase its network coverage to 90% of the country within five years of receiving the licence and list 20% of its shares on the Uganda Securities Exchange.
Lycamobile is a British mobile virtual network operator (MVNO) with a presence in 23 countries. In Uganda, it operates under its parent company, Tangerine Limited, which has been present in Uganda since 2008. By acquiring this licence, it joins Uganda Telecom Limited (UTL), MTN, and Airtel as the country’s national operators.
Daily Monitor
Monday May 03 2021
Despite the tough times, Uganda Clays continued to show resilience but was not immune to the impact of Covid-19 disruptions
Summary
Uganda clays continues to battle inherited losses attributed to higher operating costs occasioned by the Kamonkoli factroy that had been put up in an ambitious expansion strategy.
Advertisement
Uganda Clays overcame a difficult year to register an increase in net profit during the period ended December 2020.
The company, which has recorded a streak of mixed performance in the last five years, however, saw net revenue decline due to Covid-19 related disruptions and intense competition from direct and alternative products.
President Uhuru Kenyatta unveils EquityBCDC in the DRC hapakenya.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hapakenya.com Daily Mail and Mail on Sunday newspapers.
By Isaac Khisa | The Independent UG Published: April 06, 2021 11:19 PM
Kampala, Uganda | ISAAC KHISA | 2020 was a tough year in almost all fronts: public health, production, new orders, employment, and demand, among others. The once growing economy contracted and interest rates took a deep dive as coronavirus cases surged.
However, the dividends set to be paid to shareholders seem to be more than expected as evidenced by the annual performance announcements by some of the country’s commercial banks that have released their results.
Stanbic bank, for instance, has proposed a dividend of Shs 1.86 per share, equivalent to Shs 95billion for the year ended Dec.2020. This, however, is below the Shs 2.15 per share, equivalent of Shs110bn, paid in the previous year.
East African banks raise bad loans provision to cushion distressed clients
Wednesday April 07 2021
Summary
Banks balance sheets look unfamiliar as lenders count the cost of setting aside large sums of money to absorb shocks of loan defaults.
According to a report, Kenya and Ghana are the countries where banks look to have done precautionary provisioning as judged by the 2020 loan charge-off compared with their five-year average charge-off.
Advertisement
Covid-19 pandemic has seen the world confront its biggest health crisis this century, posing one of the most disruptive periods to businesses, forcing banks to empathise with clients’ lost livelihoods and businesses by easing off on loan payment demands