Uganda news 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…

Total Acquires Tullow Entire Interests in the Uganda Lake Albert Project

4 years ago Dauglas Ssempijja

Total (Paris:FP) (LSE:TTA) (NYSE:TOT) and Tullow have entered into an agreement, through which Total shall acquire Tullow’s entire interests in Uganda Lake Albert development project including the East African Crude Oil Pipeline. The overall consideration paid by Total to Tullow will be $575M, with an initial payment of $500M at closing and $75M when the partners take the Final Investment…