The Bank of Uganda data shows that the value of the country’s exports to South Africa continues to grow albeit at a slow pace Kampala, Uganda | JULIUS BUSINGE | South African businesses in Uganda and key local institutions including MTN Uganda, Absa Bank Uganda, Sanlam, Nile Breweries Limited, Stanbic Uganda …
Read More »Bank of Uganda: Oil will attract FDI in excess of $15bn in the medium term
Kampala, Uganda | THE INDEPENDENT | In an exclusive interview with the African Business, the Deputy Governor of the Bank of Uganda, Michael Atingi-Ego, talks about how the bank is dealing with inflation and the opportunities presented by oil and gas projects in the country How would you describe the current …
Read More »The Museveni-Mutebile conundrum
Why their opposing views still represent the ideological contention over Uganda’s destiny THE LAST WORD | ANDREW M. MWENDA | The memorial service of deceased central bank governor, Emmanuel Tumusiime-Mutebile, provided a rare glimpse into the ideological contests that shaped the nature of the economy of present-day Uganda. President Museveni …
Read More »More gloom to tax payers as public debt raises to Shs 73.7trillion
The debt service to tax revenue ratio has increased to 27.1% in Oct. 2021, up from 24.4% in the same period in 2020 Kampala, Uganda | ISAAC KHISA | Coronavirus pandemic induced borrowing has seen Uganda’s public debt raise 3.1% to Shs 73.78trillion compared to June 2021, says the …
Read More »Tanzanian President Suluhu due in Uganda to sign oil deals
Kampala, Uganda | THE INDEPENDENT | The long wait for Uganda’s Final Investment Decision (FDI) for oil and gas could come to an end this Sunday, following talks between government officials and industry leaders from Uganda and Tanzania. Tanzania’s new president Samia Hassan Suluhu is due in the country for …
Read More »Uganda maintains 10th spot in ABSA’s Africa Financial Markets Index
However, the financial services sector is not out of the woods yet Kampala, Uganda | JULIUS BUSINGE | Uganda has for the fourth consecutive year maintained the 10th position in the Absa Africa Financial Market Index 2020, signalling a stagnation in performance. The report, released by Absa Bank shows …
Read More »COVID-19: Remittance flows to shrink by 14%
Kampala, Uganda | THE INDEPENDENT | The amount of money migrant workers send home is projected to decline by 14 per cent compared to the pre-COVID-19 levels, according to the latest estimates published in the World Bank’s Migration and Development Brief. Remittance flows to low and middle-income countries are projected …
Read More »Uganda Investment Authority predicts drastic decline in investments
Kampala, Uganda | THE INDEPENDENT | The Uganda Investment Authority (UIA) predicts a significant decline in both Foreign Direct Investment (FDI) and domestic direct investment (DDI), particularly in tourism, transport and construction sectors due to the economic crisis induced by the COVID-19 pandemic and shutdown. The value of planned FDI …
Read More »Economy to remain subdued
Its managers must not focus on 2020 but on long term solutions, expert says Kampala, Uganda | JULIUS BUSINGE | Uganda’s economy is projected to remain subdued in 2020, signaling another challenging economic environment ahead. Emmanuel Tumusiime-Mutebile, the governor Bank of Uganda revealed that 2019’s projected growth of 5.5-6.0% is …
Read More »Afreximbank’s new fund to catalyse FDI flows in Africa
Kampala, Uganda | THE INDEPENDENT | The Fund for Export Development in Africa (FEDA), the equity investment fund created recently by the African Export-Import Bank will catalyse foreign direct investment (FDI) flows into Africa’s trade and export sectors. Prof. Benedict Oramah, the bank’s president, said during the opening of the Financing …
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