The African Development Bank has launched a multinational project to create jobs and improve livelihoods for youth in three African countries. The Creating Sustainable Youth MSMEs Through Urban Farming (SYMUF) initiative will support young farmers in Nigeria, the Democratic Republic of the Congo (DRC) and Uganda, who are attracted to
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Commercial banks have increased their lending rates after the Central Bank increased the Central Bank Rate (CBR), a benchmark lending rate for banks. However, Ugandans are largely borrowing for consumption rather than production purposes. The Bank of Uganda (BoU) increased the Central Bank Rate to 10% in October 2022, the
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Coffee remains Uganda’s top cash crop Uganda’s coffee exports in September 2022 amounted to 503,695 60- kilo bags worth US$ 71.22 million (Shs272.5bn). According to Uganda Coffee Development Authority (UCDA)’s monthly report for September 2022, this comprised 464,118 bags of Robusta valued at US $62.19 million and 39,577 bags of Arabica
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There was a 14.8% decline in the value of coffee exports in August Uganda’s export receipts grew by 47.8% from US$343.30 million (Shs1.31 trillion) in July to US$507.49 million (Shs1.94 trillion) in August 2022, Ministry of Finance’s Performance of the Economy report for September 2022, has revealed. This growth was attributed to increased earnings
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Stanbic Bank Uganda officials led by the bank’s Chief Executive, Anne Juuko (with microphone) joined the rest of Standard Group’s subsidiaries across Africa to celebrate the 160 years of the bank’s existence Stanbic Bank Uganda on Friday treated its loyal customers to locally grown and brewed coffee as the financial
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Entebbe Airport handled an average of 4,802 passengers per day in September 2022/UCAA photo Uganda Civil Aviation Authority (UCAA) has revealed that Entebbe International Airport facilitated 63,997 arrivals and 80,112 departures, a total of 144,089 international passengers in September 2022, which is an average of 4,802 passengers per day. In relation to
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At least six health workers at Mubende hospital have tested positive for Ebola A Ugandan trainee doctor who recovered from Ebola was officially discharged from hospital on Tuesday. Hudson Kunsa is a final year medical student and a trainee doctor at Mubende hospital. He shared his journey to recovery with
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The call by some people who include Deputy Speaker Thomas Tayebwa (pictured) to revise the process of awarding government sponsorships to the exclusion of those who sit their exams in high performing schools but expensive is drawing mixed reactions from different stakeholders. While some are disagreeing with him saying that
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Uganda produces unique and high quality coffee Uganda is Africa’s leading coffee exporter. However, the East African country is the second largest coffee producer in Africa after Ethiopia. Uganda exports most of her coffee because domestic consumption is still low-albeit growing. On the other hand, Ethiopians consume more than half
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BoU Deputy Governor, Michael Atingi-Ego The Bank of Uganda (BoU)’s Monetary Policy Committee (MPC) meeting has increased the Central Bank Rate (CBR), a benchmark lending rate for commercial banks, by one percentage point to 10%. BoU Deputy Governor, Michael Atingi-Ego attributes the increase in the CBR to higher inflation outlook.
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