STANBIC INVESTMENT NEWSLETTER AUGUST 2024 EDITION

????FIXED DEPOSIT, TREASURY BILLS, AND TREASURY BONDS

UGANDA SECURITIES EXCHANGE MONTHLY SUMMARY

Market churned a total turnover of Ugx 5,082,464,567 shillings on 91,288,685 shares trading in July. Stanbic was the top mover with 74,042,974 shares trading with a price high of 39.5. UCL was the top loser closing 10.83% lower month on month after issuing a profit warning projecting a loss for the half year results to June 2024 to be released soon. Stock is trading at shs 10.7 down from 12.

The ALSI lost 0.74% while the LCI lost 0.38% to close at 1021.27 and 258.14 respectively.

CIPLA paid a FY ended 31st March 2024 Final dividend of shs 4.1 per share to shareholders on 31st July 2024.

BATUreleasedH130thJune2024results.Grossrevenue39.6BN,PAT6.5BN,no interim dividend recommended.

JULY HIGHLIGHTS

?LOCAL NEWS: UGANDA TO $500B ECONOMY

President Museveni has 500 billion USD in his sights as he wants to increase both production and infrastructure.He claims that the rawmaterials,some infrastructure, energy, and dedicated Ugandans are just waiting on capital to process in manufacturing.

MORE LOCAL NEWS: UGANDAN COFFEE GROWTH

Ugandan coffee exports have increased to 6.13 million bags up from last year’s 5.76 million bags as Europe is the largest export destination. This caused a consequently 30-year high in foreign exchange earnings reaching a total of 1.14 billion in FY 2023/2024

REGIONAL NEWS: RUTO DISSOLVES HIS CABINET

Amidst the riots and protest in Kenya, Kenyan President Ruto dismissed his cabinet and apologized for “self-dealing” and not considering the needs of the country as a whole. Kenya still needs to deliver on public services and upcoming debt obligations.

GLOBAL NEWS: USA CHIP CRACKDOWN ON CHINA

Though heavily criticized by other nations and entities,the US President Joe Biden has released trade rules to prevent the Chinese expansion into the chip market.

This could have implications on several technology companies across the globe.

CONTACT LIST

Global Markets Sales Team:

Retail Sales

Maureen Kembabazi: +256312224982

Chad Nyakatura: +256312224983

Pamela Akidi:+256312224909

Liana Kabanda: +256312224987

Diana Byarugaba: +256312224984

Vincent Ssekiyana: +256312224986

Michael Ssenkunja: +256774953232

Corporate Sales

Daisy Nitwe:+256312224922

Gad Habumugisha: +256312224962

Carol Nampurira: +256312224983

Engola Kenneth:+256312224992

SBG Securities:

Salima Asha Katamba: +256312224965

Email: [email protected] / [email protected] / [email protected]

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Disclaimer: The views expressed in this publication are those of the writers where particulars are not warranted. This publication is meant for general information only and is not a warranty, representation, advice, or solicitation of any nature. Readers are advised in all circumstances to seek the advice of a registered investment advisor.