Hajji Hassan Katende and his wife Nassali Janat Katende are quite an admirable couple and family, thanks to the transformation they have undergone in recent years. Although they are located in Kaberebere Town Council, Isingiro district, they are economically very far compared to many Kampala dwellers. “We were not badly
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The Uganda shilling was relatively stable following the Central Bank slight reduction of the policy rate from 10% to 9.5% during the week ending 6th October 2017. Market demand and supply dynamics were at par, with some players seen building positions ahead of a short trading week of independence holiday.
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In the run up to Uganda’s 55th independence anniversary celebrations scheduled for October 9, 2017, Business Focus will be running stories about the economic progress the East African country has made. Uganda attained independence from Britain on October9, 1962. And to attain full economic independence, the then President Idi Amin
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Uganda’s business conditions continue to improve despite a slight decline in September, a latest report on the economy says. Announcing the Stanbic Bank Purchase Managers Index (PMI) for September at a press briefing in Kampala, Jibran Qureshi, the Standard Bank’s regional economist for East Africa noted: “Even though the headline
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Uganda’s lending rates are the highest in the East African Community (EAC) region, the Bank of Uganda (BoU) has revealed. This is stifling credit to the private sector and consequently the growth of the economy. BoU’s Monetary Policy Report for October 2017 also reveals that profitability indicators in Uganda are
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The whole village of Buwenge in Jinja district recently gathered to welcome Middle East Consultants (MEC) bosses led by Managing Director, Gordon Mugyenyi. This is because one family in the village has been transformed economically in recent years after MEC took its two daughters to Middle East for jobs. [caption
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The Uganda Securities Exchange (USE) has received a formal approval from the Capital Markets Authority (CMA) to operate a demutualised stock exchange. This means that USE will become a company limited by shares with a change in its governance and managerial structure. Previously, USE has been a mutual company limited
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Ecobank has partnered with Visa to launch Ecobank Scan+Pay with mVisa solutions to their consumers. The strategic tie-up signals interoperability on a cross border level – and potentially huge gains – as it affords consumers with the ability to use their mobile phone to directly access the funds in their
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The Uganda shilling held firm on account of improved end month inflows despite protests against age limit removal motion that dominated the week. Trading was in the range of 3595/3600 during the week ending 29th September 2017. In the inter-bank shilling market, overnight funds traded at 8% while the 1 week
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Uganda’s Annual Headline Inflation for the year ending September 2017 has been recorded at 5.3 percent compared to the 5.2 percent reported during the year ended August 2017.This represents a 0.1 percentage point increase from the previous month. This is slightly above Bank of Uganda’s target of 5%. Releasing the
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