Coca-Cola captures African stake from Belgian-Brazilian giant AB InBev

Coca-Cola captures African stake from Belgian-Brazilian giant AB InBev

Soft drinks giant Coca-Cola has agreed to pay more than three billion dollars to recently-merged AB InBev for control of Africa’s biggest soft drinks bottling company, both companies said Wednesday. On merging with SABMiller in September, Belgian-Brazilian giant AB InBev found itself with 54.5 percent in Coca-Cola Beverages Africa (CCBA) and Coca-Cola said in October […]

CRANE BANK SALE: Swiss buyer arrested, detained in Bugolobi

CRANE BANK SALE: Swiss buyer arrested, detained in Bugolobi

Another day, another set of frustration, problematic Crane Bank is back in the news. Just four months ago, embattled Crane Bank owner and property mogul Sudhir Ruparelia tried to shed past local authorities and sale to Atlas Mara Group in a $300m deal to meet the bank’s capital adequacy requirements as it hobbled by close […]

UGANDA ECONOMY COLLAPSE: URA drops taxes on used cars

UGANDA ECONOMY COLLAPSE: URA drops taxes on used cars

As the health of Uganda’s economy remains a subject of public debate, nothing is more telling of the hard times than Uganda Revenue Authority apparently in distress slashing taxes on cars previosuly its collection cash cow. With effect from October 1, the tax body reduced the used car tax rates after importation dropped by 70% […]

Partially privatised Umeme to be a stock exchange giant

Partially privatised Umeme to be a stock exchange giant

A power technician works on a faulty line in Kampala. (File Photo) National power distributor Umeme Ltd has shown again how it is not just a banter company but rather an attractive investment and announced sale of its shares by amounting to 14.3% in a multibillion deal. Umeme in keeping with their obligations under the […]

Nakumatt selling 25% stake in its struggling business

Nakumatt selling 25% stake in its struggling business

Nakumatt operates nine outlets in Uganda, but most of the shelves at Oasis Mall, Metroplex Mall, Mbarara Branch, and Bukoto Branch have largely been empty. As social media continues to be littered with pictures of empty stalls at several Nakumatt outlets around, the Kenyan-founded supermarket chains, says it’s looking for an investor to buy a […]

Uganda’s bad economy leading to our collapse claims cash-strapped Nakumatt

Uganda’s bad economy leading to our collapse claims cash-strapped Nakumatt

This follows growing concern from customers through various social media platforms many of who were skeptical about the supermarket’s operations. ‘The largest supermarket chain in East Africa, Nakumatt has blamed a number of unforeseen business challenges for its empty stalls in several outlets following last year’s collapse of Uchumi another Kenya-based supermarket. Kenya-based supermarket Nakumatt […]

Police fires live bullets at street vendors as evictions continue

Police fires live bullets at street vendors as evictions continue

Police use live bullets to disperse violent vendors Police on Tuesday morning used fired live bullets as violence engulfed downtown Kampala during running battles between street vendors and KCCA enforcement officers with cops as they try to enforce government directive to get vendors off the streets. The evictions continue after Kampala Minister Beti Olive Kamya’s directive, […]