Foreign currency turnover tops UGX17.82 tn – BoU
As of December 31, 2024, Uganda’s forex bureau and money remittance sub-sector had handled foreign currency transactions worth UGX17.82 trillion, reflecting the growing…
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The newest business, economic and financial stories from Uganda, East Africa and Africa.
Revenue from international tourists up by 25%
Uganda’s tourism sector registered significant growth in 2024, with international tourist receipts rising by more than 25% to reach UGX4.8 trillion, up from UGX 3.8…
Gov’t warned on electricity finance bottlenecks
Uganda requires a massive capital injection of UGX 23 trillion if it is to achieve universal electricity access by 2040, Sidronious Okasaai Opolot, State Minister for…
Old Mutual, Airtel launch insurance payment plan
In a significant move to enhance customer convenience, Old Mutual Life Assurance has partnered with Airtel Uganda to introduce a new digital payment solution through Old…
Fort Portal gets new boda boda training school
Watu Uganda, a leading asset-financing company, has officially launched a specialized motorcycle riding school in Fort Portal City in western Uganda.
Let Ugandans embrace banana value-addition benefits
It was former British Prime Minister Winston Churchill’s who famously described Uganda as a “beautiful garden” where its “staple food grows almost effortlessly.”
Government releases UGX19.79 trillion for Q4
Government of Uganda has strategically released UGX 19.79 trillion for the fourth and final quarter (April-June 2025) of the Financial Year 2024/25. The capital…
Uganda Clays reports another UGX5 bn loss
Uganda Clays Ltd, a partly government-owned enterprise listed on the Uganda Securities Exchange, has reported a deepening net loss of about UGX5 billion for the year…
Uganda Breweries gives Rotary UGX100 million boost
Uganda Breweries Limited, the maker of Bell beer, has reaffirmed its commitment to corporate social responsibility by donating UGX 100 million towards the 100th Rotary…
Money laundering, financial crime worries regional States
In a resounding declaration aimed at securing regional financial stability, the Government of Uganda has pledged support for initiatives battling money laundering and…
Stock exchange suspends Umeme share trading
The Uganda Securities Exchange (USE) has announced the suspension of the Umeme counter on the bourse following the end of the company’s 20-year concession and eventual…
‘First oil’ on course as EACOP gets $2.5 bn loan
EACOP Ltd., the company in charge of the construction and future operation of the East African Crude Oil Pipeline project from Kabaale in Uganda to Tanga in Tanzania…
Stanbic records UGX478 billion profit in 2024
Stanbic Uganda Holdings Limited (SUHL), the parent company of Stanbic Bank Uganda, has reported a strong financial performance for 2024, recording a profit after tax…
MTN boosts Soroti school with UGX320m donation
MTN Uganda, through its Corporate Social Responsibility arm, MTN Foundation, has inaugurated new facilities including a classroom block at Ocokican Community Secondary…
Uganda Airlines launches direct flights to UK
Uganda Airlines has announced the launch of its new direct route to London Gatwick in the United Kingdom, in an ambitious move that is set to enhance trade, tourism, and…
Row over Umeme transition, compensation cash
Uganda is facing a critical moment in its electricity sector, with uncertainty looming over the government’s readiness to take over electricity distribution from Umeme.
Foreign produce traders irk Ugandan industrialists
The Uganda Manufacturers Association (UMA) has expressed concern about the growing trend of foreign traders purchasing raw materials directly from Ugandan farmers.
MTN boosts kids with disabilities skills training
MTN Uganda, through its corporate social responsibility arm, MTN Foundation, has donated vocational training equipment to Teens and Tots Neuro Development Centre in Kira…