The Uganda Shilling held firm against the US dollar supported by tepid demand from market players during the week ending 11th August 2017. Most traders remained short on dollars while keeping an eye on political developments in Kenya and also looking out for a signal from the policy meeting that was
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The Bank of Uganda (BoU) is expected to reduce its Central Bank Rate (CBR), a benchmark lending rate for commercial banks tomorrow August11, 2017. In June, BoU eased the monetary policy to 10%, down from 11% in April, 2017 as a result of subdued inflationary pressures and weak growth prospects.
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Uganda’s economic recovery may take a little longer going by the rate at which private sector credit is growing. Latest statistics from Bank of Uganda (BoU) and Ministry of Finance, Planning and Economic Development indicate that lending to the private sector has been subdued since 2017 started despite easing in
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Robert Frederick Oliver Mwesigwa Nviiri, a Ugandan has founded Vule Airways, a privately-owned Ugandan registered airline that will hit the skies come November 2017. According to available information, the objective of the new airline that was founded in March this year is to fill the vacuum in the Ugandan air
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Uganda has imported over 54 million litres of fuel in the last 10 days, Business Focus exclusively reports. This was revealed by Dicksons Kateshumbwa, the Commissioner Customs Department at Uganda Revenue Authority (URA) while responding to media reports that hundreds of fuel trucks were stuck at Busia border as a
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KCB has announced that it will pay its investors an interim dividend amounting to Ksh3 billion (about UShs104.3b). This will see every shareholder get Ksh1 (UShs34.78) for each share they hold in the bank. This follows the half year financial results which saw the lender post Ksh10.26 billion (UShs356.8bn) net
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The National Drug Authority (NDA) has spoken out on the 12% verification fees charged on selected imported medicines that are also locally produced in Uganda. This follows speculation and misinformation that the 12% fees were applicable to all imported medicines. According to Fredrick Ssekyana, the NDA spokesperson, the 12% fee
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Embattled tycoon Sudhir Ruparelia has filed his defense on fraud related cases brought against him by the Bank of Uganda (BoU). This follows BoU’s decision to sue Sudhir, the founder and shareholder of the defunct Crane Bank and his investments firm Meera Investments Ltd on June 30 to recover about
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Whenever Kenya, East Africa’s largest economy goes to the polls, Uganda and other EAC member states suffer trade disruptions. The bloody 2007/8 elections massively disrupted business in Kenya and the East African region at large, with a number of Ugandan traders losing their merchandise worth billions. There was a shortage
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Uganda's Parliament wants to investigate the operations and competencies of Bank of Uganda (BoU) in regulating the banking sector, Business Focus reveals. Nathan Nandala Mafabi, the Budadiri County West MP on Thursday afternoon moved a motion on the floor of Parliament calling for investigations into the operations of BoU and
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