Uganda’s lending rates are the highest in the East African Community (EAC) region, the Bank of Uganda (BoU) has revealed. This is stifling credit to the private sector and consequently the growth of the economy. BoU’s Monetary Policy Report for October 2017 also reveals that profitability indicators in Uganda are
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A Zimbabwean journalist has been detained over a story alleging that used underwear had been distributed to ruling Zanu-PF supporters on First Lady Grace Mugabe's behalf, his lawyers say. NewsDay reporter Kenneth Nyangani was likely to face "criminal defamation" charges, the lawyers added. Zanu-PF MP Esau Mupfumi distributed the underwear,
Read MoreJohn Magufuli, Tanzania’s no-nonsense leader, has revealed that he has a monthly salary of 9m Tanzanian shillings ($4,008, £3,030) approximately Uganda Shs14.3m. This would work out at about a quarter of the amount his predecessor Jakaya Kikwete got, if figures collected by the Africa Review three years ago are correct. President
Read MoreUganda Securities Exchange Becomes A Company Limited By Shares, Eyes Listing
The Uganda Securities Exchange (USE) has received a formal approval from the Capital Markets Authority (CMA) to operate a demutualised stock exchange. This means that USE will become a company limited by shares with a change in its governance and managerial structure. Previously, USE has been a mutual company limited
Read MoreMinistry of Finance, Planning and Economic Development officials are set to be grilled by Parliament after Speaker Rebecca Kadaga summoned them to explain the whereabouts of Shs39bn gratuity funds of ex-employees of the defunct East African Airways Corporation (EAAC). This is after the ex-workers petitioned the speaker on Tuesday, demanding
Read MoreUgandan consumers are literally spoilt for choice as more internet providers unveil unique products and services. The latest is Wananchi Cable Uganda Ltd that launched its operations in Uganda on Tuesday with the introduction of the super fast internet speed of 100 Mbps. The service will be offered through Wananchi
Read MoreThe order paper of today’s Parliamentary sitting indicates that the Constitutional (Amendment) (No.2) Bill 2017 commonly referred to as Age Bill will have its first reading this afternoon. [caption id="attachment_5004" align="aligncenter" width="400"] Today's order paper[/caption] The order paper obtained by Business Focus shows that Igara West MP, Raphael Magyezi, the
Read MoreThe Bank of Uganda (BoU) has reduced the Central Bank Rate (CBR), a benchmark lending rate for commercial banks, to 9.5% in October, down from 10% in August 2017. This means that commercial banks are expected to follow suit by reducing on their interest rates charged on borrowers. Releasing the
Read MoreKyadondo East Lawmker, Robert Sentamu Kyagulanyi aka Bobi Wine and his family are living in fear after grenades exploded at his residence. The singer turned politician made the revelation in a post on Tuesdaty morning saying it was the second time in two days that his residence in Magere, Wakiso
Read MoreEcobank has partnered with Visa to launch Ecobank Scan+Pay with mVisa solutions to their consumers. The strategic tie-up signals interoperability on a cross border level – and potentially huge gains – as it affords consumers with the ability to use their mobile phone to directly access the funds in their
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