Why BoU closed Mercantile Credit Bank
The banking industry is reeling with shock following the decision by the Bank of Uganda, the regulator of the financial services industry, to close down Mercantile…
Latest news
The newest business, economic and financial stories from Uganda, East Africa and Africa.
Stop budgeting for corruption, CSOs tell MPs
In a stirring call to action, Civil Society Organizations (CSOs) want Members of Parliament to eliminate budget allocations that enable corruption.
Stanbic’s FlexiPay starts global money transfer
Ugandans working in the United Arab Emirates, the United Kingdom, the United States, South Africa, Kuwait, and more than a dozen other countries can now send money home…
Museveni assents to Free Zones Authority, Exports Board merger
The new law that merges the Uganda Free Zones Authority with the Uganda Exports Promotions Board is one of the Acts that have been assented to by the President.
Activists applaud UGX 516 Bn climate allocation
In a decisive move to address the escalating climate crisis, the Government has earmarked UGX 516 billion for climate change mitigation efforts in the next financial…
Ugandan innovation wins UGX70m engineering prize
An innovation by Mr. Martin Tumusiime and his friends has won 15,000 British Pounds (about UGX70 million) from the Royal Academy of Engineering’s Prize for Innovation…
Goverment defends new Atomic Energy Bill
Environmental activists have put the Government on the defensive over the new Bill that it has drafted to replace the Atomic Energy Act of 2008.
Survey shows private sector improvement in May
The month of May saw a further improvement in the private sector’s performance, according the Stanbic Bank Purchasing Managers’ Index (PMI).
NCBA Bank injects UGX80m into 2024 Golf Series
NCBA Bank Uganda in conjunction with the Uganda Golf Club, have launched the 2024 NCBA Golf Series, a premier event aimed at advancing the sport of golf and fostering…
Dubai Businessman Maktoum awarded top national honour
President Yoweri Museveni has conferred the country’s top honour, the Order of the Crested Crane 1st Class Medal, upon Sheikh Mohammed Bin Maktoum Bin Jumah Al Maktoum…
Uganda acquires $500m loan from S.Korea
Uganda has signed an agreement with South Korea for a $500 million loan to help finance infrastructure building in the east African country, Uganda’s finance ministry…
MTN restores five forests, set to introduce electric vehicles
In an ambitious move aimed at pioneering environmental stewardship for a sustainable future, MTN Uganda has registered tremendous success in restoring forest reserves…
POATE exhibitors win Kenya Airways tickets
Two lucky participants at the Pearl of Africa Tourism Expo (POATE) have won return tickets to Nairobi and Mombasa from Kenya Airways and the Kenya Tourism Board…
BoU maintains CBR at 10.25% as inflationary pressures persist
Bank of Uganda has kept its key rate unchanged at 10.25% in June unlike in the previous month when it was raised from 10%, which was prompted by rising inflation and…
Tomatoes, vegetables push inflation to 3.6%
The escalating prices of tomatoes and fresh vegetables have been the primary drivers behind the rise in headline inflation rate in May.
UGX322 billion earned from April coffee exports
Gross earnings from Uganda’s coffee exports in April amounted to about US$85 million (about UGX322 billion), according to the Uganda Coffee Development Authority.
MTN offers girls’ skilling initiative UGX270 million boost
Smart Girls Foundation, a Kasangati-based girls’ skilling initiative, is set to receive an additional UGX271 million from MTN Uganda as part of the MTN Girls in Tech…
UDB, Centenary Bank scoop top banking accolades
The Uganda Development Bank (UDB) and Centenary Bank, an indigenous Ugandan bank, have won awards at the prestigious Banker of the Year Awards held in Nairobi, Kenya, on…