The Uganda Shilling strengthened against the dollar on the back of strong inflows mainly from Diaspora and nongovernmental organizations during the week ending 22nd December 2017. Demand remained muted in a market slowdown ahead of the holidays. Trading was in the range of 3600/3610. In the money market overnight funds
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A new solar company, Mwafrika Solar has launched in Uganda with promise to shake the energy sector. Speaking at the launch event held at Selas House in Bugoloobi on Wednesday, Peter Mubanda, the Executive Director at Mwafrika Solar said that they started the company to get involved in providing solutions
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Private Sector Credit (PSC) growth has continued to recover supported by Bank of Uganda’s monetary policy easing, Business Focus reports. The Monetary Policy Report for December says that average annual PSC growth for Quarter to October 2017 was 6.2% relative to 5.6% in the previous quarter. However, the report adds
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It’s now four years since Airtel Uganda took over the sponsorship of Uganda football senior team, the Uganda Cranes from MTN. Over this period, Airtel has enjoyed unprecedented publicity, thanks to the appealing brand of the Uganda Cranes. In November 2017, Airtel announced a new sponsorship deal worth Shs10bn (approx
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The Ministry of Energy and Mineral Development has issued three Location Licences to over 500 small scale artisanal miners in Mubende, signaling the resumption of small mining operations. According to a statement from Engergy Minitry dated December18, 2017, the licenses were awarded to Kayonza-Kitumbi Miners Association covering an estimated area
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Kenya is emerging from a protracted presidential election process and seeing a return to political stability. Nonetheless, challenges will persist in 2018 for organisations operating in the country and East Africa more widely. High debt levels in Kenya and unpredictable policymaking in Tanzania are among the key risks for businesses
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Bank of Uganda (BoU) Governor, Prof. Emmanuel Tumusiime-Mutebile will Monday December 18, 2017 issue the Monetary Policy Statement for the month of December. Analysts are anticipating a further reduction in the Central Bank Rate (CBR), a benchmark lending rate for commercial banks. It worth noting that the Central Bank reduced
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The Uganda Shilling remained stable but leaning towards a mild appreciation on the back of inflows from NGOs and Diaspora remittances amid sparse trading during the week ending 15th December 2017. Trading was in range of 3605/3615. This is ahead of Monday’s Monetary Policy meeting which is expected to continue the
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The French Ambassador to Uganda, Stephanie Rivoal has warned Ugandans against unnecessary expenditures, noting that the country can’t develop without a strong savings culture. “Uganda is one of the countries with the lowest savings culture in the word,” Rivoal said, “Ugandans like spending. Majority working class [people] don’t save; only
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President Yoweri Museveni has blamed Ugandans for the poor state of the economy. He made the remarks on Friday during the annual Thanksgiving Service at State House, Entebbe under the theme "Blessed are the peacemakers for they shall be called children of God". He added that religious leaders should join
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