Three commercial banks including ABC Capital Bank (U) Ltd, Opportunity Bank and Guaranty Trust Bank (U) Ltd have failed to meet Bank of Uganda’s minimum capital requirement of Shs150bn. It should be noted that a few years ago, the Bank of Uganda increased the paid up capital of commercial banks to
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By Civy Tumusiime In recent months President Yoweri Kaguta Museveni, has increased interest and focus on the tourism industry, frequently mentioning it in his speeches as one of the key focus areas for post-Covid-19 economic recovery and growth. According to the president, the government targets to significantly accelerate earnings from
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There’s need for improved water security in Africa/ Courtesy photo By Tshidi Ramogase Africa’s vulnerability to climate change was once again demonstrated in late 2023, when torrential rains swept across much of East Africa, bringing devastating floods just six months after a record-breaking five-season drought in the region. Vast areas
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The Central and Western regions are the largest beneficiaries of the Agricultural Credit Facility(ACF) loans, the Bank of Uganda (BoU), has revealed. Launched in 2009, the ACF aims to promote value addition in the agricultural sector by providing affordable medium- and long-term loans. “The ACF has achieved significant success, with cumulative
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Loading cargo at the Kisumu International Airport. FILE PHOTO | NMG Uganda remained the largest market for Kenyan goods in 2023, with earnings crossing the KSh100 billion (UShs2.89 trillion) mark for the first time, according to data collated by the Central Bank of Kenya. Traders earned KSh127.24 billion from orders
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L-R: MTN Uganda CFO Andrew Bugembe, CEO Sylvia Mulinge and MTN MoMo MD Richard Yego announcing MTN Uganda annual performance in Kampala on March.06, 2024. MTN Uganda, the country’s leading telecom company, has announced a remarkable 21.4% surge in its after-tax profits, reaching UShs 493 billion for the year ending December 31,
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By Patricia Ojangole As we celebrate International Women's Day under the theme "Inspiring Inclusion," it is crucial to reflect on the global journey towards gender equality and the pivotal role Uganda plays in this narrative. Gender inclusion isn't just a moral imperative; it's a catalyst for national and global progress,
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Coca Cola empowers women International Women’s Day highlights the private sector's crucial role in advancing the economic inclusion of women in Africa. At Coca-Cola Beverages Africa (CCBA), we use our industry leadership to be part of the solution for positive change on the African continent. Our aim is to create
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Mt. Elgon National Park/Courtesy photo By Nabendeh Wamoto Uganda Wildlife Authority's (UWA) Mt. Elgon National Park has caused conflict with the masses since its inception in 1994. Why do we conserve and for whom, is the topic I was asked to discuss in my weekly Swahili language international radio interview
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The Executive Board of the International Monetary Fund (IMF) on Wednesday concluded the fifth review of Uganda’s Extended Credit Facility (ECF). IMF says this completion enables the immediate disbursement of the equivalent of SDR 90.25 million (about US$120 million-UShs470bn). The ECF Arrangement for Uganda for a total of SDR 722
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