Uganda's Economy Archives

Absa bank flies high in 2019 as revenues grow by 19.4%

Absa Bank Uganda has announced a 19.4% growth in revenue to shs 405 billion, up from shs 339 billion in 2018 in the results released. The bank since last year rebranded from Barclays indicated that its net profits jumped from shs 68 billion with a return on equity of 16.9% “We saw steady growth in the bank’s balance sheet and…

Uganda’s Revenue Collections to Register Shortfall of Shs82.4b due to Corona Virus

5 years ago PDStaff

The Minister of Finance, Matia Kasaija has noted that the country’s economic growth projections in FY2019/2020 has been revised downwards from 6.0 percent to between 5.2 5.7 percent depending on the severity of the COVID-19 impact on Uganda. While addressing Parliament on Thursday, the Minister noted that the country’s revenue collections will register an additional shortfall of about Shs82.4 billion…