Total's oil drilling rig at work Oil and gas exploration and production giant, TotalEnergies Uganda is currently executing two huge oil projects, Tilenga and EACOP. The Tilenga project is being constructed in the North Albertine region of Western Uganda. This area is one of Africa’s most important areas for biodiversity.
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BoU Deputy Governor, Michael Atingi-Ego Bank of Uganda’s delay in starting the purchase of Gold on the local market is because it is still building a process that will efficiently block imported products out of the project, officials say. In July, the Bank of Uganda officially announced that it would
Read MoreChristopher Legilisho, Economist at Stanbic Bank Increased advertising by companies during September played a role in sustaining strong business output and attracting new clients as the headline Stanbic Bank Purchasing Index (Stanbic PMI) dropped slightly to 54.2 compared to the 56.3 posted in August. The threshold for a positive business
Read MoreLending activity by the banking institutions supervised by the Bank of Uganda improved in the financial year ending June 2024, with loans growing by 6.8 percent. In total, Shillings 22.6 trillion was lent out to different borrowers over the year, compared to Shillings 21 trillion for the previous year. It
Read MoreThe global oil and gas market is evolving, driven by climate and other considerations. However, Africa’s hydrocarbon sector remains crucial to several countries, some of whom are only just becoming players. For some, it is a major contributor to gross domestic product as well as government revenues, supporting key sectors
Read MoreBy Macklean Kukundakwe, Marketing Manager at Uganda Baati Counterfeits in the construction industry pose a significant threat to consumers, local manufacturers, and the economy at large. These substandard products compromise the safety and integrity of structures, lead to financial losses, and undermine the credibility of genuine manufacturers. We have taken a
Read MoreSophia Kihumuro, Head of Credit of FINCA Uganda. When people think about banks, they often envision large institutions managing significant sums of money, making investments, and safeguarding our savings. However, at the core of their operations, banks primarily focus on one specific type of risk: credit risk. What is
Read MoreBy Ali Ssekatawa In 2016, I led a group of young lawyers in a movement we called the “Nakivubo Declaration.” It was a direct encounter to what we termed the “Kampala Club Declaration," a tradition where senior lawyers handpicked successors based on seniority. The Nakivubo Declaration was our first attempt
Read MoreUganda earned over Shs2.8Trn from exports in July 2024, the Performance of Economy report by the Ministry of Finance has revealed. “Export earnings in July 2024 amounted to US$785.03 million (Shs2.888Trn), a 9.2% increase from US$718.60 million (Shs 2.643Trn) in June 2024. This growth was primarily driven by higher earnings
Read MoreUganda Earns Record Shs820bn From August Coffee Exports As Global Prices Continue To Rise
Uganda exported 837,915 60-kilo bags of coffee in August Uganda’s coffee exports in August 2024 amounted to 837,915 60-kilo bags, worth US$ 221.63 million (UShs820bn), Uganda Coffee Development Authority (UCDA) has revealed in its monthly report for August 2024. This is the highest number of bags to be exported in
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