Browsing: Business

Follow breaking business news and headlines on the Uganda’s most important companies from Pearl Times

TIGHTEN YOUR BELTS: Higher Prices Ahead as Museveni Government Gives Dutch Company Deal to Control Uganda’s Fuel Supply

On Sunday, November 05, Ugandan President Gen Yoweri waxed lyrical about his new plan to streamline the fuel supply sector by stopping middlemen from cheating Ugandans. But what Museveni did not tell Ugandans was that he plans to bring on board Dutch company Vitol to work with Uganda National Oil Company (UNOC) – a move that could see fuel prices increase.

LIST: See How Much Money Banks Made in Profits -- Plus Names of Those Choking on Losses

Audited financial reports by Uganda’s commercial banks have revealed how each of the 25 financial institutions performed in the year ended December 2022, indicating how much profit or loss each bank made. Here is a quick breakdown of how much money each commercial bank made in profits or losses last year as the economy continued to recover from the negative impact of Covid19 lockdown and global shocks occasioned by Russia’s war in Ukraine: