The uncertainty surrounding power distributor, Umeme Limited’s license renewal has badly affected the stock exchange, the Uganda Government has revealed. According to the Background to the Budget for Financial Year 2019/20 released by Ministry of Finance, Planning and Economic Development, equity turnover at Uganda Securities Exchange (USE) declined by 73
Read More
The Minister of Finance, Planning and Economic Development, Matia Kasaija will tomorrow read the 2019/20 National Budget to Ugandans. The Shs40.48 trillion budget has a 20% increment compared to last year’s Shs32 trillion. The budget is huge compared to recent years. In 2017/18, the budget stood at Shs22 trillion, up
Read More
Uganda’s total labour force increased from 8.8 million people in 2012/13 to 10 million people in 2016/17, government has revealed. According to the Background to the Budget for Fiscal Year 2019/20 released by Ministry of Finance, Planning and Economic Development, unemployment declined from 12 to 9 percent over the same
Read More
The Rwanda-Uganda border closure has adversely affected Rwanda compared to Uganda, according to figures obtained by Business Focus. Rwanda in February blocked Ugandan cargo trucks and buses from crossing to the neighbouring country via Katuna and Chanika border points. This left traders from both countries stranded and counting losses. Rwanda
Read More
The Stanbic headline Purchasing Managers Index (PMI) posted 57.3 for the month of May, up from 54.7 in April and above the average since the survey began in June 2016.Improving business conditions were seen across all five monitored sectors which include agriculture, industry, construction, wholesale & retail and services. New
Read More
Two foreign banking institutions have applied for licenses from Bank of Uganda, the regulator of Uganda’s banking sector to offer Islamic Banking products and services, Business Focus reports. It is understood that many existing banks in Uganda are cautious about offering Islamic Banking products because this will affect their profitability.
Read More
Uganda Revenue Authority (URA) has so far registered a gross revenue collection of Shs15.041 trillion in the current financial year 2018/2019, Business Focus has learnt. This represents about 89.5% of the 2018/19 tax revenue collection target. The collection registered as at 31st May 2019 is part of the total Shs16.3
Read More
Uganda’s Prime Minister Ruhakana Rugunda has revealed that government is doing everything possible to deliver Uganda to a middle income status. He says service delivery has improved over the years. “The ultimate objective of the NRM government is to deliver Uganda to middle income status and I would like to
Read More
Uganda has 24 operating commercial banks. The banking industry saw 19 banks record a net profit of Shs790.092bn in 2018 compared to the 17 banks that posted a profit of Shs785bn in 2017. This means that five (5) banks made losses in 2018. The five-loss making banks in 2018 made
Read More
Private sector credit to agricultural sector has increased from Shs562 billion in 2013 to Shs1.53 trillion in 2018, figures from the Bank of Uganda (BoU) show. The increased lending from commercial banks is attributed to the introduction of Agricultural Credit Facility (ACF) in 2009 to provide medium to long term
Read More
