Tanzania Revises Up GDP Growth, DSE Rises

Tanzania’s economy grew around 7.1% last year, beating the government’s own revised forecast, Prime Minister Kassim Majaliwa said. In November, the country trimmed its gross domestic product (GDP) to 7.0% from 7.1%. That forecast had also been revised from 7.4%. But Majaliwa said East Africa’s second-largest economy grew faster than expected last year owing to ...
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Umeme Revenue Up, Company Looking Forward To New Tariff Plan

Umeme (UMEM) reported an 8.7% growth in revenue for the financial year ended December 2017, citing a rise in electricity units sold. 2017 revenue was reported at UGX 1.48 trillion, 58% of which arose from Industrial customers (both large and medium). Domestic customers and Commercial customers contributed 27% and 15% respectively. Gross profit grew from ...
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Stanbic Looks To Expand Non-Banking Services As Profits Rise

Stanbic Bank Uganda (SBU) posted a 4.61% growth in pretax profit for the year ended 31st December 2017. Profit before income tax for Uganda’s largest financial bank stood at UGX 265.67 billion, driven by “efficiencies under cost control and credit risk that compensated for lower operating income”. In 2016, the bank’s profit rose by 24.9%mainly ...
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