Agriculture is the backbone of Uganda’s economy but the sector continues to get highest interest rates Agriculture sector tops the sectors with highest lending rates in Uganda, Bank of Uganda’s Annual Report for 2023/2024, has revealed. The report says in 2023/2024, interest rates varied among sectors primarily due to differences
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Uganda imports onions from Kenya By Dr. Apollo Buregyeya Sixty percent of the onions and Irish potatoes consumed in Uganda come from Kenya. So, do most of the oranges, tangerines, mangoes, pears, and apples. Our markets are flooded with fruits grown in a drier, tougher terrain, while Uganda, one of
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By Sarah Musumba Once upon a dusty Saturday in Kampala, a Fuso truck rumbles past, stacked high with buveera (plastic paper bags), water containers, soda bottles, and jerry cans. Now imagine 120 of those rolling in every single day, not with goods, but with waste. That's Uganda's plastic problem in
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Yassine Samir - the Executive Director of Bank of Africa Uganda Imagine opening a bank account in minutes, without stepping into a banking hall, queuing up, or filling out piles of forms. Just you, your phone, and a few taps. That’s the power of digital account opening—and if you haven’t
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Uganda’s banking industry Non-Performing Loans (NPLs) reduced to Shs1.019 trillion in 2024, down from Shs1.18 trillion recorded in 2023, Business Focus exclusively reports. Although 10 banks have high NPLs (whose ratio is above 5%), the industry NPL ratio is 4.69%. This analysis is derived from the financial statements for the
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Finance Minister, Matia Kasaija, signing off the Budget Month activities The National Budget for the financial year 2025/2026 is due to be read on June 12, 2025, according to the Ministry of Finance, Planning, and Economic Development. According to the proposals, the total resource envelope for the year is 71.9
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I write this with a heavy heart - one that aches not only as a mother but as a Ugandan deeply concerned for the soul of our nation. Last week, the Ugandan Ministry of Education and Sports banned extravagant school activities, including prom parties, and mandated an end to displays
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By Kenneth Kimbugwe, Sales Manager - Life Assurance, Old Mutual Life Assurance Uganda In today’s fast-paced economy, the pressure to see immediate returns on investment is understandable. From the popularity of mobile money savings options to the surge in interest for Unit Trusts, Ugandans are clearly hungry for financial growth.
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Commercial banks extended loans worth Shs21.46 trillion to customers in 2024 Banks extended loans worth Shs21.46 trillion to customers (individuals and companies) in 2024, up from Shs20.26 trillion in 2023, Business Focus exclusively reports. Our analysis is derived from the financial statements for the year ended 31st December 2024 that
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Parliament recently approved the Shs72.376 trillion budget for Financial Year 2025/2026, with government set to borrow Shs32.075 trillion because taxes, non-tax revenue and grants will generate only Shs40.042 trillion. A minority report tabled before Parliament by Kira Municipality MP, Ibrahim Ssemujju Nganda, says Ministry of Finance on page 19 of
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