UGX20 Billion squandered in pension scam
The Auditor General’s report for the year ending 2024 has unveiled alarming financial irregularities in the management of pension and gratuity benefits, revealing over…
Latest news
The newest business, economic and financial stories from Uganda, East Africa and Africa.
Agriculture: Africa Union’s urgent call to action
Uganda’s Minister of Agriculture, Animal Industry, and Fisheries, Hon. Frank Tumwebaze, has called for swift and decisive action to transform Africa’s agricultural…
Algeria eyes Uganda’s coffee, dairy products
Uganda is poised to strengthen its trade ties with Algeria, leveraging its agricultural production to meet growing demand in North Africa. During a high-level meeting…
Phone asset finance fueling 4G/5G Internet access
Because of the nature of his business, Moses Wambede always wanted a phone that could access high-speed internet but he didn’t have enough cash. A friend advised him to…
Government cuts power tariffs but doubts persist
The Government of Uganda, through the Electricity Regulatory Authority (ERA), has announced a reduction in electricity end-user tariffs for the first quarter of 2025…
75% of Ugandans survive on wages – report
According to the National Population and Housing Census (NPHC) 2024 final report, only 24% of Ugandan households have an income-generating business enterprise, while 76%…
Uganda now officially BRICS partner country
BRICS, the Global South-led forum for economic cooperation, continues to grow in influence, as it seeks to de-dollarize and transform the international monetary and…
MTN MOMO achieves 100% growth in mobile loans
MTN Mobile Money (MoMo) has reported outstanding growth in its digital lending portfolio, marking a 100% increase over the past 12 months.
Optimism as October exports surge to UGX2.7 trillion
Uganda’s export earnings surged to US$744.86 million (approximately UGX2.7 trillion) in October 2024, marking a 9% increase from US$682.69 million (UGX2.47 trillion) in…
Kenyan envoy hails economic diplomacy, cooperation
The Kenyan High Commissioner to Uganda, Joash Maangi, has acknowledged the enduring “brotherhood” between Kenya and Uganda, which he said has significantly contributed…
Top banker Kalifungwa quits ABSA for Stanbic
In a room full of chief executives, he easily stands head and shoulders above them – almost everyone is forced to look up to him.
Civil society welcomes nationwide school-feeding plan
Civil society organisations (CSOs) have welcomed the setting up of a national multisectoral working group to guide the implementation of the national school feeding…
Bank of Uganda denies complicity in $15m theft
The Bank of Uganda (BoU) has refuted reports that IT systems were hacked, following a multimillion-dollar scam that diverted money to bank accounts in the United Kingdom…
Credit financing boosting smartphone access
As Uganda accelerates efforts towards digital integration, device financing is emerging as a critical solution to bridge the digital divide and empower more individuals…
BoU to review StanChart’s exit plan from Uganda
The Bank of Uganda (BoU) is set to assess a proposal from Standard Chartered Bank Uganda regarding the sale of its wealth management and retail banking operations in…
Mediage PR sweeps public relations accolades
Mediage Ltd reaffirmed its dominance in Uganda’s public relations industry by winning the prestigious PR Agency of the Year award for the second year in a row. The…
WTO boss Ngozi Okonjo-Iweala given second term
The General Council of the World Trade Organization (WTO) has agreed by consensus to reappoint Dr. Ngozi Okonjo-Iweala as Director-General for a second four-year term.
Watu opens Uganda’s first boda boda training school
In a pro-active move aimed addressing the urgent need for road safety and professional motorcycle training, Watu Uganda, a leading asset financing company, has launched…