The Uganda Shilling was stable cushioned by dollars inflows as demand remained muted on corporate mid- month tax payments. Trading was in the range of 3765/3775 during the week ending May17, 2019. In the money market, overnight funds were priced at an average of 6% while one week was at
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Hotel owners and Managers have been encouraged to embrace standards if they are to improve the country’s competitiveness as a destination as well as attract more travelers. This was one of the conclusions that were drawn up during a Uganda Tourism Board (UTB) and Uganda Hotel Owners Association (UHOA) training
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Heliochem Pty Ltd, an Australian based firm has partnered with Medcan Uganda Ltd to grow medical cannabis (marijuana) in Uganda, Business Focus exclusively reports. Heliochem is a subsidiary of THC Global Group Limited (ASX: THC), an ASX listed company, operating in the Health Care sector. It has been in business for
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Uganda’s commercial banks continue to accumulate assets. Total banking industry assets increased by 262% to Shs28.032 trillion in 2018, up from Shs26.55 trillion in 2017. Uganda has 24 operating banks commercial banks. In this article, you’ll know the share each bank has of the Shs28.032 trillion total industry assets. The
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Heightened demand kept the shilling on the back foot during the trading week ending 10th may 2019. The shilling was under immense pressure breaching the key level of 3775. Demand was mostly from the interbank and importers. In the money market, overnight funds traded at an average of 6% while
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Uganda’s power distributor, Umeme Limited has revealed that it will scale down use of wooden poles going forward in favour of concrete poles. This was revealed by the Umeme Managing Director, Selestino Babungi on Thursday while addressing the press at Kampala Serena hotel immediately after the company’s Annual General Meeting.
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Five new oil blocks have been put up for the second licensing round in the Albertine Graben. The announcement of the new five blocks was made by the Minister of Energy and Mineral Development Eng. Irene Muloni (in featured photo) on Wednesday. This was during the 9th East African Petroleum
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Uganda’s banking industry continued to recover from turbulent times in 2018 by posting generally impressive results. According to industry figures analysed by Business Focus, out of 24 banks, 19 banks recorded net profits of Shs790.092bn in 2018 compared to the 17 banks that posted a profit of Shs785bn in 2017.
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The Uganda shilling ended the week ending 3rd May 2019 on a weaker tone on elevated demand mainly from the interbank as the effects of end month conversions that had improved supply conditions in the market were wearing off. Trading was in the range of 3753/63 at close of the
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The Stanbic Purchasing Managers Index (PMI) for the month of April has indicated that there was continued improvement in customer demand and business activity, with job creation recorded in Uganda as a result. Overall workloads increased meaning companies had to take on extra staff. The report further indicates that employment
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