BoU Deputy Governor, Michael Atingi-Ego The Bank of Uganda (BoU)’s Monetary Policy Committee (MPC) meeting has increased the Central Bank Rate (CBR), a benchmark lending rate for commercial banks, by one percentage point to 10%. BoU Deputy Governor, Michael Atingi-Ego attributes the increase in the CBR to higher inflation outlook.
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Coffee remains Uganda’s leading cash crop Uganda’s earnings from exports continue to grow year after year. Despite the COIVD-19 induced lockdowns and restrictions, Bank of Uganda figures obtained by Business Focus show that Uganda earned US$4.494bn (UShs17.1 trillion) in 2021 from her exports, up from US$4.461bn (UShs17.02 trillion) recorded a year
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Henry Musasizi (4th Right), the Minister of state for Finance (General Duties), who represented the Minister of Finance, Planning and Economic Development, announced the interest rate for FY 2021/22 Members of the National Social Security Fund (NSSF) will earn an interest of 9.65% on their savings for the financial year 2021/22 translating into
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The Kingfisher oilfield rig reached Mombasa port a few weeks ago CNOOC Uganda has revealed that shipments of the oil drilling rig have started arriving at the Kingfisher oilfield in Kikuube district. “The Rig is here!!! Shipments of the drilling rig have started arriving at the Kingfisher oilfield in Kikuube District. 18
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Uganda earns billions monthly from coffee exports Uganda’s coffee exports in August 2022 amounted to 501,054 60-kilo bags worth US$ 71.15 million (Shs273bn), according to a report from UCDA (Uganda Coffee Development Authority). This comprised 456,271 bags of Robusta valued at US $60.26 million and 44,783 bags of Arabica valued
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Richard Byarugaba (2nd Left-front row), the NSSF Managing Director, joined by officials from the Fund and the contractor, giving journalists a guided tour of the Temangalo housing project The National Social Security Fund (NSSF) has embarked on the construction of its mixed-use affordable housing project in Temangalo, Wakiso District. The project
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Passenger traffic at Entebbe International Airport is increasing Uganda Civil Aviation Authority (UCAA) has revealed that Entebbe International Airport handled 156,081 international passengers in August 2022 (73,899 arrivals & 82,182 departures). According to Vianney M. Luggya, the UCAA Spokesperson, this is an average of 5,034 passengers per day compared to 4,892
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MPs on the Committee of Physical Infrastructure and Uganda Airlines officials in a group photo at the national carrier’s self-handling yard during a recent visit Uganda Airlines has started implementing its long awaited self-handling project after getting necessary approvals from Uganda Civil Aviation Authority (UCAA). Uganda’s national carrier started handling
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A photo montage of President Museveni (Left) and Housing Finance Bank Managing Director, Michael K. Mugabi President Yoweri Museveni is a witty person. During the launch of NSSF’s US$400m (UShs1.5 trillion) housing project in Lubowa on Thursday, the President sent guests into uncontrolled laughter after he sarcastically questioned the existence
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President Museveni officially launching NSSF’s housing project named Solana Lifestyle & Residences President Yoweri Museveni Thursday launched the National Social Security Fund’s Housing Project in Lubowa, a Kampala Suburb off Entebbe Road, saying that collective savings can play a big role in the country's economic development. He commended NSSF for
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