President Yoweri Museveni is expected later today to commission the Uganda Revenue Authority (URA) Tower, the fancy Skyscraper that will be home to the tax body. Located in Nakawa, the state-of-the-art building is divided into four podiums and eighteen tower floors totaling to 26,021 square metres. It is perhaps the
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The Uganda shilling opened strong but ceded ground towards end of the trading week on account of reduced inflows and a rebound in demand from the energy and manufacturing sectors during the week ending 18th January 2019. Trading was in the range of 3685-3705. In the interbank money market, overnight
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Ugandans are increasingly thinking outside the box to supplement their meager monthly salaries. Youth unemployment has also forced many into business, thus making Uganda one of the most enterprising countries globally. In Uganda, over 400,000 young people enter the job market annually yet a mere 9,000 new jobs are created
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A section of Exim Bank (Uganda) Limited staff have rejected the appointment of a top manager, accusing him of being incompetent and unqualified for the job. Nitin Shripad Shendye, the Head of Products at Exim Bank is the Manager in question. According to a Bank of Uganda letter dated June2,
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East Africa continues to have only one billionaire, according to Forbes 2019 list of billionaires. The region is represented by Mohammed Dewji, 43, who is the 14th richest African with a net worth of US$1.9bn. Dewji is the CEO of METL, a Tanzanian conglomerate founded by his father in the
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2019 promises to be an exciting year for Uganda’s banking sector as smaller banks aim to take on the ‘big boys’. Banks are set to build on gains registered in 2018 to offer more customer-friendly products and services. According to Bank of Uganda (BoU) private sector credit increased to 12.2%
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Great Lakes Africa Energy (GLAE), a United Kingdom registered, sub-Sahara focused energy solutions provider is set to celebrate its seventh anniversary and launch the recently completed US$ 25million (Shs93bn) solar power generating plant in Uganda. Acting as the lead financial and technical investor, GLAE is part of a development consortium
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Banana (commonly known as matooke in Uganda) is one of the major food security crops in Uganda as the crop supplies food to people almost all the time. Besides food, bananas in Uganda and East Africa are used to produce local brew, and these crops also supplement animal feeds. BANANA
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It’s a public secret that Uganda is one of the most enterprising countries globally. In 2015, the Global Entrepreneurship Monitor (GEM) ranked Uganda the world’s most entrepreneurial country. According to GEM, 28% of adults own or co-own a new business. This is quite understandable; with over 400,000 young people entering
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Uganda registered impressive economic growth in 2018 and domestic economic activity is expected to continue recovering in 2019. However, the projected economic growth could be affected by a number of risks. Bank of Uganda (BoU)’s Composite Index Economic Activity (CIEA) indicates stronger economic performance in the first 10 months of
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