Investor confidence in Uganda takes an enormous hit – listed below are the main points

In line with present USE commerce statistics, the common inventory market turnover in August was lower than Ush60 million ($16,001) in every buying and selling session, and day by day buying and selling volumes have been fewer than 500,000 shares on common. This is a sign of minimal institutional investor exercise.

“A number of giant pension funds have exited their long-term funding positions within the equities markets due to diminished returns. Many of the equities portfolios have generated returns of round 3-4 % in Uganda. Because of this, giant traders have migrated to fixed-income property, actual property, and personal fairness investments that provide higher returns compared,” Allan Lwetabe, director of investments on the Deposit Safety Fund of Uganda, elaborated.

In line with the latest monetary figures, MTN Uganda Ltd.’s complete gross sales revenue for the primary half of 2023 was Ush1.27 trillion ($338.7 million), up from Ush1.09 trillion ($290.7 million) in 2022. The dividend for the primary half of the 12 months elevated by 19% to Ush5.6 ($0.0015) per share, for a complete distribution of Ush125.4 billion ($33 million).

“Revenue after tax registered by Stanbic Holdings Uganda Ltd rose from Ush162 billion ($43 million) in June 2022 to Ush200 billion ($53 million) in June 2023 whereas its complete revenue elevated to Ush550.5 billion ($146.8 million) from Ush455 billion ($121 million). Umeme Ltd’s complete revenues grew by 19.9 % to Ush1.076 trillion ($286.9 million) whereas DFCU Ltd’s revenue rose from Ush187 billion ($49.8 million) in June 2022 to Ush198.5 billion ($52.9 million) in June 2023, whereas revenue after tax elevated from Ush18.7 billion ($4.98 million) to Ush29.3 billion ($7.8 million) throughout the identical interval below evaluate,” as seen in a information report by the East African, an East African information publication.

The vitality distributor’s amortization bills, nevertheless, elevated as a result of a one-time impairment cost paid by the agency earlier than the 20-year concession settlement’s expiration in March 2025, from Ush79 billion ($21 million) in June 2022 to Ush210 billion ($56 million) in June 2023. A half-year dividend of Ush24 ($0.006) per share was introduced by the agency.

On the finish of June 2023, British American Tobacco Uganda’s revenue after tax decreased by 2.07% to Ush3.79 billion ($1 million). On the finish of June, Uganda Clays Ltd. reported a lack of Ush690 million ($184,006).