# Business Edge News


## Posts

- [New DTB, KACITA partnership to boost women enterprises](https://businessedge.news/new-dtb-kacita-partnership-to-boost-women-enterprises/): Diamond Trust Bank and the Kampala City Traders' Association (KACITA) have entered a partnership aimed at boosting small businesses and entrenching Environmental, Social and Governance (ESG) principles in the country.
- [Capital Markets Authority Gets New Boss](https://businessedge.news/capital-markets-authority-gets-new-boss/): Ms Josephine Ossiya has been appointed Chief Executive Officer of the Capital Markets Authority (CMA).
- [Anxiety As Donor Aid to Uganda Slumps](https://businessedge.news/anxiety-as-donor-aid-to-uganda-slumps/): Declining donor aid means a higher tax burden on citizens and more foreign debt to bankroll notoriously high public expenditure. Concern is rising as donor cash continues to take a downward slide, which analysts say reflects the escalating levels of donor fatigue and a vote of no confidence over corruption, human rights abuses and fiscal indiscipline.
- [Uganda Investment Authority Wins Global Award](https://businessedge.news/uganda-investment-authority-wins-global-award/): Uganda, through its chief investment promotion agency, the Uganda Investment Authority, has won yet another prestigious award "the Investment Catalyst Award" in the 2023 Go Global Awards.
- [Uganda targets $4 billion in green investment deals at COP28 in Dubai](https://businessedge.news/uganda-targets-4-billion-in-green-investment-deals-at-cop28-in-dubai/): The Uganda Investment Authority (UIA) is participating in the 28th Conference of the Parties (COP 28) to the United Nations Framework Convention on Climate Change with an ambitious target of clinching four billion dollars in green investment deals.
- [Mbale Industrial Park Development Takes Off](https://businessedge.news/mbale-industrial-park-development-takes-off/): The Uganda Investment Authority (UIA) has handed over the Mbale Industrial and Business Park site to China Railway Number 3 Group for the design and building of key infrastructure like tarmac roads and water and sewerage systems.
- [President Museveni Directs on More Support to Investors](https://businessedge.news/president-museveni-directs-on-more-support-to-investors/): President Yoweri Museveni has tasked the Uganda Investment Authority (UIA) and the Ministry of Trade, Industry and Cooperatives to create mechanisms through which investors are heard and supported.
- [Why Bitature Bailout is a Sensible Decision](https://businessedge.news/why-bitature-bailout-is-a-sensible-decision/): Recent media reports that Government is considering to bailout business Patrick Bitature by acquiring Electromaxx, his thermal power generation company based in Tororo District in eastern Uganda, have raised a number of eyebrows. For some reasons, I think it is a sensible decision that deserves public support.
- [From profit-centric to purpose-driven is the new norm for a sustainable business](https://businessedge.news/from-profit-centric-to-purpose-driven-is-the-new-norm-for-a-sustainable-business/): Not too long ago, businesses had a singular obsession of making profits for their shareholders. The bottom line reigned supreme, and little else registered on the corporate radar.
- [NCBA Bank Powers Singleton Golf Challenge Semi Final](https://businessedge.news/ncba-bank-powers-singleton-golf-challenge-semi-final/): The bank injected Shs.60 million in the event in which amateur golfers from Uganda and Rwanda took part
- [No more headache as NCBA Bank launches vehicle importation campaign](https://businessedge.news/no-more-headache-as-ncba-bank-launches-vehicle-importation-campaign/): A car importer through World Navi to receive 80% financing from NCBA Bank, 2-months grace period, comprehensive insurance cover from ICEA Lion
- [Optimism as October coffee exports fetch $80 million](https://businessedge.news/optimism-as-october-coffee-exports-fetch-80-million/): Ugandan coffee exports have continued to show a positive trend with the volume of coffee exported in October amounting to 470,000 sixty-kilogram bags, worth USD 79 million, according to the Uganda Coffee Development Authority.
- [Protect Local Industries – Museveni](https://businessedge.news/protect-local-industries-museveni/): President Yoweri Kaguta Museveni has said that the government will continue protecting local manufacturers from unfair competition
- [Let Us Trade More in Finished Products – Museveni appeals to China](https://businessedge.news/let-us-trade-more-in-finished-products-museveni-appeals-to-china/): President Yoweri Kaguta Museveni has appealed to the government of the People’s Republic of China to open their market for finished goods.
- [There is a ready market, Museveni assures Foreign Investors](https://businessedge.news/there-is-a-ready-market-museveni-assures-foreign-investors/): President Yoweri Kaguta Museveni has wooed foreign investors to invest in Uganda, saying that the East African country has a lot of investment opportunities with a readily available market.
- [President Museveni Meets Dubai Investor](https://businessedge.news/president-museveni-meets-dubai-investor/): President Yoweri Kaguta Museveni has met the CEO and Managing Director of Rowad Capital Commercial LLC (RCC) group, Mr. Chaher Al Taki, who called on him at State House Entebbe.
- [President commissions fruit processing factory in Nakasongola](https://businessedge.news/president-commissions-fruit-processing-factory-in-nakasongola/): President Yoweri Kaguta Museveni commissioned Kike Tropical Fruits Limited, an extraction and refinery plant. Situated in Kakooge, Nakasongola District, the factory deals in fruit processing. During the commissioning, the President thanked Mr. Francis Mugabe, the proprietor of the factory and his family for joining Uganda’s fight against poverty. “Thank you very much,” he said.
- [Government reaffirms support to scientists](https://businessedge.news/government-reaffirms-support-to-scientists/): President Yoweri Kaguta Museveni has warned public officials against taxing innovations, saying there's no logic in taxing innovations when Uganda gives tax holidays to products that are not the result of new ideas.
- [President Yoweri Kaguta Museveni on Use ICT to Build Our Economy](https://businessedge.news/president-yoweri-kaguta-museveni-on-use-ict-to-build-our-economy/): President Yoweri Kaguta Museveni has cautioned Ugandans against using Information And Communications Technology (ICT) to promote importation of goods. President Museveni said Ugandans should use ICT to promote the buying of goods and services within Uganda or promote selling to outsiders but not vice versa.
- [MTN Uganda delivers on promise to President Yoweri Museveni, successfully mobilizes South African investors to invest in Uganda](https://businessedge.news/mtn-uganda-delivers-on-promise-to-president-yoweri-museveni-successfully-mobilizes-south-african-investors-to-invest-in-uganda/): Wednesday 6th September 2023. Kampala, Uganda. MTN Uganda has fulfilled President Yoweri Museveni's call to action, rallying South African investors to explore opportunities in Uganda. This remarkable achievement follows the successful conclusion of the second leg of the Uganda-South Africa summit, held at the prestigious Speke Resort, Munyonyo. In February of this year, during the first leg of the Uganda-South Africa trade and investment summit in South Africa, President Museveni issued an impassioned appeal to MTN and other South African businesses operating in Uganda. He urged them to collaborate in attracting more South African companies to invest in Uganda, particularly in the critical sectors of Agro-Industrialization, manufacturing, and tourism. The objective was clear: to bolster the Ugandan economy, create new employment opportunities, and enhance the country's trade balance. Hon. Evelyn Anite, the State Minister of Finance for Investment and Privatization, commended MTN Uganda for its unwavering commitment to this cause. She said the telecom giant successfully mobilized 40 South African companies to participate in the summit, fostering greater trade and investment cooperation between the two nations. Several South African enterprises, including Tiger Brands, SADC Grains, Radco Holdings, and Brand South Africa, have expressed their intent to establish businesses in Uganda, reinforcing the significance of this collaboration.
- [UKETA PARTNERS WITH IBANDA UNIVERSITY TO BOOST ONLINE LEARNING](https://businessedge.news/uketa-partners-with-ibanda-university-to-boost-online-learning/): UKETA, an online Learning platform has partnered with Ibanda University to enhance an alliance aimed at extending the skylines of soft skills education to both students and lecturers within the University. According to Daudi Bitature, Sales Operational Analyst, UKETA Learning platform, the aim of this partnership is to empower the academic community at Ibanda University by providing cost-effective access to a comprehensive array of soft skills courses. The courses are organized by experts in business, finance, and education, which will prepare them for success in various professional spheres. “Collaborating on this joint venture is bound to make a significant impact on the employability, entrepreneurial, and personal development skills of the students. Let's work together to make sure this dream becomes a reality,” said Bitature.  Christopher Banura, Assistant Dean, Ibanda University, said students should possess not just academic coursework, but also essential soft skills to enhance their attractiveness to potential employers after completing their university studies. “This partnership ensures the provision of practical skills aligned with their academic subjects, which they can apply beyond their educational years. This pivotal decision aims to seamlessly integrate the courses into the student's learning journey, fostering a culture of continuous improvement and skill enhancement,” said Banura. The meeting which was attended by over 15 people, entailed breakdowns of various strategies for seamlessly integrating these essential courses into Ibanda University's existing curriculum.  Emphasis was also placed on creating a hybrid learning experience, ensuring inclusivity by catering to individuals without ready access to electronic devices and data bundles. This collaboration between UKETA Learning and Ibanda University marks a significant stride toward equipping the academic community with the tools they need to excel not only in their chosen fields but also in their personal and professional growth. UKETA Learning platform was launched this year in April and it offers a user-friendly and interactive environment, with features such as video lessons, quizzes, practical assignments, and community forums that facilitate peer-to-peer learning and collaboration. The platform is accessible via smartphones making learning flexible.
- [MTN Uganda unveils the second phase of MTN Ace Tech as 20 enterprises are selected to take part in the program](https://businessedge.news/mtn-uganda-unveils-the-second-phase-of-mtn-ace-tech-as-20-enterprises-are-selected-to-take-part-in-the-program/): Wednesday 31 st May 2023 Kampala, Uganda- MTN Uganda has unveiled the second phase of MTN ACE-Tech known as the MTN Ace-Tech-Incubation program aimed at equipping enterprises with skills needed to successfully spur growth of their businesses. This follows conclusion of the MTN Ace-Tech's first phase this month that involved training 130 individuals in software development. MTN Uganda Foundation and the partners have selected 20 enterprises to participate in the inaugural MTN Ace Tech program's incubation phase at the National ICT Innovation Hub in Nakawa in Kampala. The incubation is to be implemented by MTN Foundation through its MTN ACE Tech, Centenary Technology Services and the Ministry of ICT and National Guidance, implemented by Innovation Village, a Kampala-based nongovernmental organisation dedicated to convening various stakeholders to collaborate with and support entrepreneurs to bring ideas to life that leverage technology for scale and to solve the most pressing problems in society. Bryan Mbasa, the Senior Manager at MTN Foundation said the selected participants out of 40 that submitted their applications this year will undergo a 13-week training in commercializing their business ideas and managing growth.  “Throughout this journey, the participants will attend all the master classes, workshops, webinars, networking events and so on, and access tools and high-quality coaches and mentors to support in applying the concepts and insights gained, from the various program sessions towards refining the enterprises,” he said. He said selected enterprises cut across various sectors including digital financial services, agriculture and transport. Mbasa said enterprises that will emerge best in the incubation will have an opportunity to meet a wide range of prospective local and international investors for an opportunity to raise an early-stage financing round to spur their growth. “We, at MTN Uganda, believe in the power of entrepreneurship to create a positive social and economic impact in our communities, and throughout this incubation, we're proud to support entrepreneurs and enterprises to unlock their potential and create opportunities for growth and development,” he said. Uganda is ranked as one of the most enterprising countries in the world with high percentages of new business each year, according to Global Entrepreneurship Monitor (GEM). However, the business failure rate remains also high due to inadequate skills and proper product positioning. This also coincides with the government's National Development Plan (NDPIII) which recognizes the potential of ICT to drive economic growth, innovation and job creation. Rowena Turinawe, the Head of Innovation and Digital Services at Centenary Technology Services, said they are glad to be part of the MTN Ace Tech incubator because it aligns directly with the mission of providing holistic technology solutions and delivers innovation that matters to enable and inspire entrepreneurial growth. “This initiative will provide pathways for highly skilled innovators to create sustainable and scalable solutions that support service delivery, create employment opportunities, and improve the use of ICT innovation and technology development in the country and this fits perfectly into our agenda,” she said. “We want to see the youth rise to their potential, equip them with technical skills, open opportunities for them to gain employment and spur innovation as well as entrepreneurship in Uganda.” “Who better to share about Business than those that have walked the path - MTN with 25 years of experience across Africa, Centenary with 40 years of experience across Uganda and now Malawi. That's combined 75years of business excellence that the selected participants will tap into the MTN ACE program,” Rowena concluded. Arthur Mukembo, the Future Lab Studio Lead at Innovation Village said the new partnership the new initiative through the Future Lab Studio, the Innovation Village will support innovators to build and scale solutions by creating pathways that give these enterprises opportunities to build better enterprises. “This innovative will also enable enterprises to access market opportunities, unlock relevant funding to sustain their growth as they work to improve the lives and livelihoods of Ugandans as they scale into Africa and beyond,” he said.  Meanwhile, Agnes Lumala, the academic registrar at the Uganda Institute of Information Communications and Technology, which hosts the National ICT Innovation Hub, said the government's partnership with the private sector now crucial to drive new technologies. “Whereas pushing the digitalization agenda is crucial for government to attain economic recovery, we cannot achieve it without support of the private sector,” she said, acknowledging the contributions of MTN Foundation, Centenary Technology Services and the Innovation Village towards the digital agenda. MTN Ace Tech is one of the three MTN ACE program launched in December last year and implemented in partnership with the Ministry of ICT and National Guidance, The National ICT Innovation Hub, Centenary Technology Services, Refactory, MUBS Entrepreneurship Innovation, and Incubation Centre, Engage Consults and MTN's Fintech subsidiary, MTN MoMo Uganda Limited to empower the youths.
- [BIRDIC Commissions New Generation Tuku Tuku Vehicles to Improve Tooke Distribution](https://businessedge.news/birdic-commissions-new-generation-tuku-tuku-vehicles-to-improve-tooke-distribution/): The Banana Industrial Research and Development Center (BIRDIC) whose mission is to use research to develop and market banana-based valued-added products, is embarking on a drive to popularize Tooke flour and related products, by improving their distribution network countrywide.  BIRDIC is the successor of the Presidential Initiative on Banana Industrial Development (PIBID).    Speaking during the commissioning of a new generation tools of trade (Tuku Tuku) that are meant to widen Tooke distribution capacity, The Director General of the PIBID and BIRDC, Rev. Dr. Professor Florence Isabirye Muranga, said that streamlining the distribution process and equipping agents with the tools to deliver quality products to the market was an integral part of making sure the initiative harnessed the success of research and development.  The Tuku Tuku vehicles will distribute a wide range of Tooke products which include; Tooke flour, Mandaazi, Doughnuts, Bread, Cakes, Scones, Crisps, and Biscuits, among others. Rev Dr. professor Muranga, added that the market is littered with gluten-rich confectionary products and that enhanced distribution of Tooke products would ensure a healthier choice of gluten-reduced products which are healthier for human consumption are available across the country.  “As the society becomes more health conscious, they will demand more of products that are of high quality and that meet health requirements and that's why research is important”  She added: “Our products are made out of Tooke flour. Incomes of our farmers will definitely increase as we extensively distribute Tooke products, we have created employment for the youth as well as retailers. As we venture into the international market, we shall attract forex – which is crucial to the development of our country.” On the enormous opportunities in the market, Dr. Muranga emphasized the company's readiness and capacity to satisfy both local and regional markets while also working on expanding the export market.   “We have internally built resilient structures to counter any challenges that may come our way. Tuk Tuks are not in direct competition with existing sales infrastructure rather they will ensure a steady supply of products both to retailers and wholesalers. In other words, they will complement the existing infrastructure,” said Muranga. According to Isaiah Ssemamuli, Tooke Sales Manager, the Tuk Tuk vehicle distribution model is built on a door-to-door sales strategy that intends to supply to schools, hospital canteens, grocery stores, supermarkets, small shops, and any other customer touch point that can be visited on a daily basis “We intend to cover all parts of the country starting with Eastern and Central Uganda. The wider distribution footprint has been in Western Uganda and this is attributed to the location of our pilot plant in Bushenyi,” said Ssemamuli. Andrew Matovu, the Marketing Manager, noted that this is just a beginning of the commercialization. “Today we are commissioning the new generation distribution but we intend to unveil a revised distribution strategy during the launch of our first hub in Jinja.” said Matovu. Dr. Muranga thanked all esteemed customers who have continuously bought the products and reassured a steady supply in all the regions of the country.
- [NIGERIA- UGANDA BUSINESS AND INVESTMENT FORUM](https://businessedge.news/nigeria-uganda-business-and-investment-forum/): The Nigeria High Commission in Uganda in partnership with the Ministry of Foreign Affairs in Collaboration with the Uganda National Chamber of Commerce and Industry and the Uganda Investment Authority has embarked on strengthening trade through meeting Ugandan Entreprenuers in a business summit.    The two-day business summit held at Hotel Africana is aiming at enhancing Business opportunities between the private sector of both Countries. Addressing the stakeholders in the summit, H.E Ismail Alatise, the Nigerian Ambasaddor said this business forum is   allowing the Nigeria - Uganda public and private sectors to discuss business challenges, identify opportunities, share experiences, and create business-to-business networks.    "We are raising awareness about investment and business opportunities in both countries. This will boost bilateral trade and investment flow through showcasing products in a business exhibition," said Alatise. Olive Kigongo, The President of Uganda National Chamber of Commerce remarked that the   this platform is an overview for business opportunities, Sharing challenges in doing business, Getting credible first-hand information on investment climate, trade and business. " Ugandan Entreprenuers are to exploit skills of accessing finance for business and investment, Understanding regulatory, taxation and legal regime Networking for potential partnerships, among others," said Kigongo  The Uganda- Nigerian business summit is targeting the Large, Medium, Small and Start-Up companies from Uganda and Nigeria Potential investors from the region and the rest of the world.  Also, Transport and Cargo companies Banks, microfinance, and other financiers.  Others are; Manufacturer, Trader and Transport Associations, Education Institutions, Agricultural Producers and Agro -industries Leading local and regional media  In the PUBLIC SECTOR, it's targeting Government Ministers, Policymakers, public sector agencies, and business support institutions covering Security, Taxation, Trade, Finance, Immigration, Investment, Tourism, and the East Africa Community, International Organizations, multinational agencies, and development partners Over 200 people attended the summit including Senior Uganda and Nigeria Officials, private sector business leaders, technical experts, academia, and donors with informative and relevant discussions across select sectors including Finance and Investment, Security, Trade, Taxation, Immigration, Agriculture, and Education.
- [DTB Bequeaths Food Items to the Muslim Community in Kampala](https://businessedge.news/dtb-bequeaths-food-items-to-the-muslim-community-in-kampala/): Muslims dwelling in Kampala city have received an Iftar food package to celebrate Eid as they end the Ramathan season, thanks to Diamond Trust Bank-DTB. The food items include sacks of Sugar, rice, cooking oil, and flour, among others.   Speaking during the handover at the Gadafi Mosque situated at Old Kampala, Andrew Musanje, the Head of Branches & Alternate Business at DTB, said Iftar gives the bank an opportunity to join in fellowship with friends –  new and old – to celebrate the diversity of its customers.   “We are therefore here on the occasion of Ramadan iftar to celebrate the breaking of the fast – one of the most sacred and joyful rituals of Islam. Our Muslim brothers and sisters across the country and the entire world, have been fasting and breaking the fast together as a sign of celebrating common humanity and the universal values of peace, charity, community, and family,” said Musanje. After receiving the packages from DTB, Sheikh Shaban Mubaje Ramadhan, the Grand Mufti of Uganda, thanked DTB for such a good gesture by DTB and noted that this encourages the Muslim community to strengthen the ties on their side through embracing mobile banking and taking on more products and services DTB has to offer to the world.
- [UKETA Launches Online Courses to Upskill Professionals and Empower Organizations Across East Africa](https://businessedge.news/uketa-launches-online-courses-to-upskill-professionals-and-empower-organizations-across-east-africa/): In the latest demonstration of the potential and growth of online education, Simba Group has launched UKETA, an innovative online course platform designed for professionals. The platform is designed to provide a comprehensive and flexible learning experience, empowering professionals to acquire new skills, enhance their expertise, and advance  their careers in today's fast-paced and competitive business landscape. Speaking during the launch in Kampala, UKETA Founder Dr. Natalie Bitature said UKETA is tailored to meet the unique needs of professionals across various industries, including business, technology, finance, marketing, leadership, and more.  The platform, she said, offers a wide range of courses, ranging from beginner to advanced levels, to cater to learners with different skill levels and backgrounds. Courses are curated by industry experts and thought leaders, ensuring that learners receive the most up-to-date and relevant content. "We are excited to launch UKETA and provide professionals with a cutting-edge platform to enhance their skills and stay ahead in their careers. Every effort was made in designing the platform to ensure we deliver high-quality, practical, and relevant learning experiences that can empower professionals to achieve their career goals and excel in their respective industries," Dr. Bitature said.  UKETA offers a user-friendly and interactive learning environment, with features such as engaging video lessons, interactive quizzes, practical assignments, and community forums to facilitate peer-to-peer learning and collaboration. The platform is accessible via desktop and mobile devices, making learning convenient and flexible for busy professionals. Joel Muhumuza, one of the UKETA Instructors said: "The courses focus on practicality and real-world applications. The platform offers hands-on, industry-relevant assignments and projects that allow learners to apply their knowledge and skills in practical scenarios. This approach enables professionals to immediately apply what they have learned in their work environment, making the learning experience highly practical and valuable. To celebrate its launch, UKETA offers a limited-time promotional offer with discounts on select courses, making it even more affordable for learners to embark on their learning journey. Additionally, UKETA plans to regularly update its course offerings and expand its partnerships with renowned institutions of higher learning to enhance the learning experience for its users continuously.
- [Younger dairy farmers and increased consumption of UHT milk to spur sector growth](https://businessedge.news/younger-dairy-farmers-and-increased-consumption-of-uht-milk-to-spur-sector-growth/): Uganda's potential and fortunes in the dairy sector can grow significantly if strategies are put in place to attract a younger crop of dairy farmers and with increased investment in long life milk processing and other value added products. Jackline Kittony, the Marketing Director Tetra Pak East Africa said that Uganda's conducive weather makes diary farming in Uganda an area of competitive advantage for the economy. Tetra Pak, a leading global player in packaging solutions in the dairy sector, is leading a campaign to popularize consumption of long life milk especially among the younger generation. Kittony said that there should be deliberate efforts to create a milk consumption culture at home and at school by carefully explaining the benefits of milk consumption to children. “Studies have shown that UHT milk is loaded with essential nutrients like protein, carbohydrates, calcium, zinc, potassium, phosphorous, magnesium, riboflavin, vitamins A and B12 which are good for health”. In addition, the UHT milk comes in six-layered aseptic packaging which prevents the milk from contamination. Current data from the Diary Development Authority (DDA) indicates that Uganda produces about 2.8 billion liters of milk annually but only 30% is processed. According to recent statistics on milk consumption, Kenya leads EAC with 120 liters per capita annually, which is 89 liters below the recommended amount from the World Health Organization (WHO). Uganda, Tanzania, and Rwanda record even lower annual per capita consumption numbers of 53 liters, 42 liters, and 38 liters, respectively. “UHT milk has a long shelf life milk. That milk is safe. Because of the high heat treatment the milk is processed through, the bacteria doesn't survive giving it a higher shelf life,”Kittony said. She explained that if farmers embraced UHT processing of their milk, they will enjoy even larger market and better incomes since consumers far and wide would be able to access their products all year round. Information from the ministry of agriculture indicates that Uganda's revenue from export of dairy products rose from $131.5m (about sh490bn) in 2018 to $205m (765bn) in 2020. Kittony pointed out that sector revenues could rise even higher if youth were attracted to the diary sector. For this to be done, she noted that dairy farming should be seen as a business and not simply as a subsistence activity done predominantly in Uganda's cattle corridors. “We need to attract young people into the diary space. The average age of a dairy farmer is 64 years, this indicates that the young people are not taking it up,” she pointed out.  “We need to view diary as a business venture. The young people need to be educated on what the inputs and outputs are and importantly, where the markets are,” Kittony explained. A recent survey published by Tetra Pak projects that Africa will see an increase of more than 50 percent in liquid dairy consumption, growing from 15 billion liters in 2010 to almost 25 billion liters in 2020. Milk consumption in Africa is currently the lowest in the world, around 37 liters per capita annually, which is 67 liters below the world average of 104 liters per capita and only accounts for six percent of world consumption. The growth, however, will come at the expense of “loose milk”, which is unpasteurized milk sold in cans and/or bags.
- [Simba Telecom and d.light Partner to Distribute Solar Products in Uganda](https://businessedge.news/simba-telecom-and-d-light-partner-to-distribute-solar-products-in-uganda/): Simba Telecom Uganda, a leading telecommunications company, and d.light, a global leader in solar-powered solutions, have signed a partnership agreement to distribute solar solutions across Uganda.  Under the partnership, Simba Telecom Uganda will expand its product offerings to include d.light's high-quality solar-powered products, including solar home systems, solar lanterns, and portable solar chargers. These products will be available at Simba Telecom Uganda's retail stores nationwide, making them more accessible to customers across the country.  Speaking during the agreement signing and launch event in Kampala, Simba Group Chairman and Simba Telecom Founder Dr. Patrick Bitature said the partnership aligns with Simba Group's commitment to complement the government to power every house in the country and provide innovative products and services that meet the needs of Ugandans.    "We are excited to partner with d.light to provide our customers access to affordable and reliable solar solutions. This partnership aligns with our commitment as Simba Group to power every house in the country and provide innovative products and services that meet the needs of our customers," Dr. Bitature said.  Ugandans will access affordable solar products on a pay-as-you-go basis for up to 1 and a half years. The PayGo Solution (Kibanja Mpola) is a revolutionary approach to purchasing solar products, allowing customers to make affordable payments over time. This system removes the barrier to entry for many customers who may not be able to afford a one-time fee for a solar product.   "We believe that access to clean energy is a basic human right and that everyone should have the opportunity to benefit from the advantages of solar energy. The partnership with Simba Telecom enables us to bring our solar solutions to more people across Uganda. Customers will enjoy the benefits of solar energy without worrying about the upfront costs subsequently improving their lives and contributing to economic development," d.light Group CEO Nick Imuda said.   Across the world, governments strongly advocate for the promotion of solar energy alongside the main electricity grid. Solar energy is renewable, abundant, and accessible to most people, especially in rural areas where access to the main electricity grid is limited.  The partnership is part of d.light's mission to empower people without access to reliable electricity with affordable, high-quality solar-powered solutions. The partnership will enable d.light to reach more customers and help them improve their quality of life by providing access to clean energy.
- [UNLOCKING INVESTMENT OPPORTUNITIES IN THE LANGO REGION](https://businessedge.news/unlocking-investment-opportunities-in-the-lango-region/): Gudie Leisure Farm (GLF) has dedicated the month of April for the Lango Region Spotlight. This is an initiative aimed at enlightening the country about the investment opportunities in Lango, generating support for young entrepreneurs within and from across Uganda that are already investing in it, and celebrating its rich cultural heritage. The Spotlight will feature 3 major events; - (1) the Lango Region Business Symposium, Cottage Industry Investment Show and Dinner that will be held on Saturday 1 st April, 2023 starting at 9:00am; (2) a Cultural Immersion (cultural village, museum, art market and food market) and Talent Show, both of which will be held on Sunday 2 nd April. 2023 from 10:00am to 7:00pm - all taking place at Gudie Leisure Farm in Najeera; and, (3) the Lango Region Expedition - a business tour around the region – that will run from 4 th to 7 th April, 2023. Speaking at the launch of the Lango Spotlight, Prof. Gudula Naiga Basaza, Founder and Managing Director of Gudie Leisure Farm, said that, “To create significant change in Lango, we need to attract catalytic investments into the region. The region's leaders must play the proactive role of exposing and convincing the Private Sector and other would-be investors that Lango does indeed have the ability to generate for them worthwhile returns if they put resources in the region. This is why as a Private Sector actor that is investing especially in its young entrepreneurs, we have embarked on creating investment promotion platforms through which the region's leaders, youth, business community and government can highlight the commercial opportunities the region offers and also promote Lango's beautiful culture and people - starting in the Central Region - Uganda's major business and trade hub.” Ms. Teddy Owot Ogong, Dokolo's Gudie District Agent and a business leader from the region, said, “Lango hosts some of the most talented youth in the country who are eager to become active participants in the socio-economic transformation of Uganda! In Dokolo and Amolatar, for example, we have incubated and trained over 400 youth in several market-relevant agribusiness skills since 2021. These young people want to join hands with the Private Sector to exploit the region's resources for Lango's communities' and Uganda's benefit.” About Gudie Leisure Farm Gudie Leisure Farm (GLF) is a social enterprise providing various agribusiness development services to youth-owned micro and small enterprises (MSEs) in the agricultural sector, and in particular, those operating in the white meat and related value chains. Established in 2009, the company, since its inception, has been providing the MSMEs with the technical and business training they need to produce and distribute high quality white meat products and services through its agribusiness incubation center, linking them to markets in and outside their districts of operation that can deliver them with the returns  2  they expect from their investments and business development services (BDS) providers in the public and private sectors that can support the growth and sustainability of their enterprises. The entity has built a network of 112,900 youth in 740 parishes in all regions of Uganda across 27 districts including; - Kampala, Mukono, Wakiso, Lwengo, Kyotera, Masaka, Kiryandongo, Luweero, Dokolo, Moroto, Arua, Amolatar, Nwoya, Soroti, Jinja, Namisindwa, Tororo, Hoima, Mbarara, Isingiro, Kabale, Kisoro, Kikuube, Fort Portal, Kamwenge and Kassanda, and operates in 6 refugee settlements - Rwamwanja, Kiryandongo, Maaji, Nakivale, Rhino and Kyangwali. Within the Lango region, Gudie Leisure Farm has incubated 240 Youth Agripreneur Champions from 40 Parishes. These have since returned to the region and incubated over 4000 Youth Agripreneur Champions out of school and 4800 Youth Agri- Club Agripreneurs (youth in school). All the youth have embracing the role of transforming their region by being proactive, productive, planned and profitable. They are engaged in value chain linked agribusiness. They have held district skilling fairs for communities within the region and train community members on a weekly basis in their Parish Entrepreneurship Learning Associations (PELAs).
- [MTN Uganda unveils ICT lab at Kabale Preparatory School in Kabale District](https://businessedge.news/mtn-uganda-unveils-ict-lab-at-kabale-preparatory-school-in-kabale-district/): Thursday 23 March 2023 - Kabale, Uganda: Kabale Preparatory School in Kabale District has benefited from a fully equipped computer lab as part of the MTN Uganda Foundation's efforts to boost information and communication technologies in schools and communities.  The facility comes with 10 computers, a 24-hour power backup and one-year free internet connectivity courtesy of the MTN Digital Access Program. Other beneficiary institutions include Smart Girls Foundation in Wakiso District and Moroto Public Library in Moroto District.   Bryan Mbasa, the Senior Manager of MTN Uganda Foundation said the new computer lab will provide space for inclusive and structured learning.  “We at MTN Uganda believe that everyone deserves a modern connected life and computer labs are a springboard to educators looking to transform traditional instruction and equip learners with tech skills critical to the fast-evolving job market,” he said. This comes at the time the Uganda government is fast-tracking its 2040 digital vision to empower its citizens to achieve the goals of universal inclusion, sustainable development, economic progress and poverty eradication through digital innovation combining initiatives across multiple sectors.  The Minister of State for Trade and Cooperatives, who also doubled as the chief guest during the handover ceremony, Mr David Bahati applauded MTN Uganda for championing the use of ICT to drive the country's economic growth.  “The government has embraced ICT to improve service delivery to the citizens as it strives to achieve social and economic transformation. We are investing in numerous infrastructures including the national backbone that could trigger digital transformation as enshrined in Vision 2040. We are grateful to MTN Uganda for walking the journey with us,” he said.  MTN Uganda Foundation is also implementing a digital literacy project in which MTN Internet Bus is carrying out ICT outreach camps in various regions of the country to spark and ignite creativity and innovation by introducing remote communities to the benefits of ICT which then can be kept alive through the community resource centres.  Over the years, MTN Uganda Foundation has supported 42 ICT labs including six in technical institutes including Amelo Technical Institute located in Adjuman District, St. Simon Peter's Vocational Training Centre in Hoima District, and St. Daniel Comboni Polytechnic in Moroto District in partnership with the Belgian Development Agency, Enabel.
- [MTN Uganda rallies partners and donates e-waste to MUK's College of Engineering, Design, Art and Technology for recycling](https://businessedge.news/mtn-uganda-rallies-partners-and-donates-e-waste-to-muks-college-of-engineering-design-art-and-technology-for-recycling/): MTN Uganda on Tuesday donated e-waste worth UGX 20 million to Makerere University College of Engineering, Design, Art and Technology for recycling, reuse and dispose of responsibly.  The donation amounting to 390 items includes 166 monitors, 134 desktops, and 90 laptops and shall be revamped and donated to rural secondary schools to enhance ICT access and literacy. The items weigh 1,831.5 kilograms, which contributes to carbon saving when recycled and reused.   “We at MTN Uganda recognize the importance of conserving our environment and as such have mainstreamed eco-responsibility as a key priority in our Environmental, Social and Governance (ESG) commitments so we can create shared value in the communities we operate in,” said Senior Manager Network Planning and Engineering, Yasin Ramadhan.  Mr Ramadhan said they are excited as a company to work with Makerere University College of Engineering, Design, Art and Technology as they strive to ensure that e- waste is put to meaningful use while conserving the environment.  This development comes at the time the country has recorded a surge in the importation of electronics –laptops and mobile phones among others –in recent years owing to changes in technologies, liberalization of the economies and e- initiatives to boost service delivery.  As a result, there has been a high turnover of ICT equipment and devices as the population keeps acquiring or replacing their devices with new ones that suit the latest technologies and leading to an increase in the volume of e-waste.  In her remarks, Eng. Dr. Dorothy Okello, the Dean, School of Engineering, College of Engineering, Design, Art and Technology applauded MTN Uganda for partnering with the University to sustainably handle e-waste at a time countries across the globe are facing challenges in handling e-waste. “We thank MTN Uganda for joining us in this journey and we are looking forward to growing this partnership for the betterment of our country and achievement of ESGs,” she said.  MS. Marsha Walusimbi, the Head of Talent Diversity, Equity and Inclusion at ATC Africa, commended MTN Uganda for the innovation meant to manage e-waste sustainably.
- [DTB SCOOPS THE MOST INNOVATIVE BANCASSURANCE AGENT 2022 AWARD](https://businessedge.news/dtb-scoops-the-most-innovative-bancassurance-agent-2022-award/): Diamond Trust Bank – DTB has been named the Most Innovative Bancassurance Agent in Uganda for the year 2022 at the prestigious Insurance Innovations Award -2022 held that the Kampala Serena Hotel. DTB was voted the most innovative Bancassurance Agent because of its innovation in the use of Digital Banking channels and Digital communication channels to drive awareness and appreciation of Life Insurance services in Uganda. DTB was among the 27 companies and individuals who participated in the 2022 – Insurance Innovations Awards. The DTB won under the Bancassurance Agent category which attracts insurance players in the Banking sector. DTB Managing Director Mr. Varghese Thambi on receiving the award expressed DTB's commitment to innovations that support people's well-being by introducing to their services like insurance. He dedicated the award to the staff of the Bank who did exceedingly well in delivering a service to the people. Speaking at the event Board Chairman Insurance Speaking at awards, the Board Chairman of IRA, Dr. Isaac Nkote, said the organization is proud of these annual events and will continuously do so with an aim of putting a strategy of creating awareness of the industry and attracting global players to deliver and transform the sector as people come to understand the insurance products. “We need to create more visibility for the insurance policies so as to shape the destiny of this industry," The Minister for Kampala, Hon Hajjat Minsa Kabanda who was the Chief Guest at the event, said innovation awards in the industry will help in the penetration of the market and increasing the saving culture in Uganda hence reducing poverty. "The industry has been suffering mistrust since 2010 but now we are glad to announce that Ugandans have embraced the industry's policies. The innovative awards were held under the theme “Celebrating Innovation for Excellence in Insurance.
- [Commonwealth Enterprise and Investment Council Chairman Lauds Uganda's efforts to increase trade and investment within member states](https://businessedge.news/commonwealth-enterprise-and-investment-council-chairman-lauds-ugandas-efforts-to-increase-trade-and-investment-within-member-states/): The Chairman of the Commonwealth Enterprise and Investment Council, Lord Jonathan Peter Marland has lauded the government of Uganda's effort to support trade and investment through collaboration with private sector associations such as the Uganda National Chamber of Commerce (UNCCI) and the Private Sector Foundation (PSFU).   Speaking during a dinner hosted by UNCCI to honor his visit to Uganda, Lord Marland said CWEIC was impressed by the seriousness with which the government of Uganda and especially President, H.E. Yoweri Kaguta Museveni, had accorded to the promotion and marketing of Uganda as an investment destination and also as a source of quality good and services.                 “The Commonwealth Nations, with about 2.4 billion citizens spread across 52 countries that are bound by a common language, shared history, and a combined economic value of USD 13 trillion, have a huge potential for increased trade and investment and especially for the African continent where 21 of the member states are located.” The occasion was graced by the Minister of Trade and Industry Hon. Francis Mwebesa, the Deputy Governor of the Bank of Uganda, and Michael Ating-Ego, among other dignitaries and business heads and investors in the country.
- [MTN Youth Skilling Program: Irene Nandyose turns hobby into a thriving business](https://businessedge.news/mtn-youth-skilling-program-irene-nandyose-turns-hobby-into-a-thriving-business/): Irene Nandyose, a business administration graduate from Makerere University Kampala loved knitting and crocheting during her free time on campus. And it is through this exercise that a business idea was hatched. But the business idea was only implemented in 2020 following training under the MTN Uganda Youth Skilling Program which aims at equipping young people with entrepreneurial skills. She co-founded the Candid Craft Card, an online craft marketing platform, as a source of her livelihood. “I am a self-taught crotchetier and I got the courage to do this as a business upon attending the MTN Youth Skilling Program because I have always wanted to commercialize it and make money out of it,” she said. “The training was engaging. We were equipped with numerous entrepreneurial skills starting with idea generation, screening, concept development, product development and, finally, commercialization,” she said. “We were also equipped with other skills such as digital marketing and e- business so that we could market and sale our products online, cyber security to avert incidences of possible fraud and communication to ease our communication with our customers.” Nandyose, who produces children's and swimming wear, sweaters, and handbags, says the training equipped her with digital, communication, and networking skills needed to nurture and grow Candid Craft Card. She said a sweater goes for Shs 50,000, handbags Shs 45,000, swimming customs for ladies Shs 35,000, and children's clothes at Shs 25,000 each. “I also embraced online marketing for our products to reach out to customers who would not have been reached at the time due to the coronavirus pandemic,” she said. Nandyose says she has been able to train other girls in her neighbourhood on how to make crafts as well as market their products online. She  Sen siti vity : Pu blic revealed that three of her trainees are now earning a living out of making crafts. “I recommend MTN Youth Skilling Program to other youths since it is inclusive and looks at youth as people who need to gain the skills and take them further,” she said. She added: “I would like to thank MTN Foundation for the opportunity they have given us as a youth. I am so grateful that they took it upon themselves to implement this project and they have done a good job. I am so thankful for everything they have done.” Bruno Oluka, the team leader at Ubunifu Systems that implemented the project, said he believes the skills acquired are very essential for the youth to run their businesses. “This has been one of a kind opportunity and I believe the skills acquired should be able to help participants in their lives and that of their communities.”  Bryan Mbasa, senior manager at MTN Uganda Foundation said they are proud of the success recorded in the course of implementing the program that has not only empowered the youths but transformed their lives. “The youths constitute the largest percentage of our population and there's a need to equip them with the necessary skills required in this 21st century to thrive and contribute to this economy,” he said. MTN Foundation Uganda launched its Youth Skilling Program under the foundation arm of youth empowerment in 2020 benefiting at least 100 out of 1,993 youth who submitted applications in preparation for the evolving digital world in response to the COVID-19 pandemic. The program implemented in partnership with Ubunifu systems, a software development firm based in Uganda, involved three phases including the International Certificate of Digital Literacy which is recognized in various countries around the world. The second phase centred on technical skilling which included finance, accounting, human resources, and sales among others, and the final phase  Sen siti vity : Pu blic covered incubation and pitching. MTN Uganda has over the years committed to integrating the youth into its programs so as empower them economically.  Last month, MTN Foundation in partnership with the Ministry of ICT & National Guidance, The National ICT Innovation Hub, Centenary Technology Services, Refactory, MUBS Entrepreneurship Innovation, and Incubation Centre, as well as MTN's Fintech subsidiary, MTN MoMo Uganda Limited, launched a nationwide youth-centred economic empowerment initiative dubbed the MTN ACE.  MTN ACE initiative brings to the public three MTN Foundation programs that include; the MTN ACE Tech program which focuses on upskilling the youth interested in tech-related innovations under which MTN has also equipped the national ICT hub with state-of-the-art equipment to allow innovators to prototype and incubate their ideas into a feasible business. The second program is the MTN ACE Career program that seeks to empower fresh graduates with workplace skills and internship placement, and the third program is the MTN ACE Skills program that is tailor-made for the youths who are in or out of school to equip them with entrepreneurial skills. The MTN foundation has earmarked UGX 1.5 billion towards this initiative this year in line with the corporate social responsibility agenda to boost the livelihoods of the communities in which MTN operates.
- [MTN Uganda awarded as the fastest mobile network in Uganda](https://businessedge.news/mtn-uganda-awarded-as-the-fastest-mobile-network-in-uganda/): 25 th January 2023 - Kampala, Uganda: MTN Uganda has been recognized for the top position as the mobile operator with the fastest internet speed in Uganda, according to user-initiated tests completed on Speedtest® by Ookla®, a global leader in mobile and broadband network intelligence, testing applications, and technologies.   MTN Uganda emerged as the winner of the Speedtest Award for mobile network speed in Uganda for the third and fourth quarters of 2022.    This follows more than 12,980 user-initiated tests on the Speedtest iOS and Android mobile apps from all the major mobile carriers including Airtel and Lyca to determine who showed the fastest mobile network speeds.   MTN Uganda achieved a Speed Score of 34.55, providing faster internet speeds to its users compared to other major mobile providers who registered 32.21 and 4.34 as their Speed Score.     The telecom company also achieved the highest download speeds of 34.26mbps and upload speeds of 14.55mbps in Kampala City during the period under review.
- [MTN Uganda's open API empowering youth](https://businessedge.news/mtn-ugandas-open-api-empowering-youth/): As a child, Martin Tumusiime watched households and businesses frustrated with uncollected wastes in Kampala suburbs that sometimes could end up in water channels, streets, or burned. His experience inspired him and his four colleagues – Gideon Mpungu, Lubowa Enock, Namuli Brenda, and Rogers Kibuule – to develop a waste management mobile app known as Yo-Waste in 2018. The app allows anyone with a smartphone phone to instantly request for garbage collection and is connected to the nearest available garbage truck collectors in their communities. But Tumusiime's dream, whose company now serves more than 1,300 customers in Kampala and Entebbe, only came to reality when MTN Mobile Money Uganda Ltd granted the team access to the MTN Mobile Money Access Programming Interface (API) upon emerging as one of the winners of MTN MoMo Hackathon in 2019. MTN Uganda's open API platform unveiled in 2018 enables developers and programmers to get free access to MTN mobile money's proprietary software platform to create products that ease payment options, leveraging on MTN mobile money clients. “Payment for waste collection is the biggest challenge in this business. The collection is usually only about 70%, and it is expensive,” said Tumusiime, who now leads a team of 26 staff. “With the integration of our system to that of MTN Mobile Money, we are able to collect almost 100% of our generated revenues because invoices and payments are made via mobile money and this helps us minimize operational costs.” Tumusiime said the Yo-Waste app earns them an average of Shs 10,000 and Shs 30,000 per month from each of their customers based on the volume of their waste, frequency of collection, and location. Uganda has in the past three years recorded growth in start-up businesses ideas making progress following MTN Uganda's bold decision to grant them access to MTN Mobile Money Access Programming Interface (API) to develop new digital products and services to improve efficiency, productivity and income. These among others include; Easy Matatu – a mobile app that enables carpooling using matatus, AppAbout – an online platform that enables customers to make reservations in cinemas, bars and restuarants for a perfect day or night with friends, and Powell Pay – a virtual wallet that enables schools to receive fees payments from parents by transferring the fund to the School's registered bank account via mobile platform.  Sensitivity: Public  Easy Matatu has since received support from Renew Capital, an impact investment firm focused on developing small and medium-sized enterprises in Africa, to help expand minibus ride sharing app in various African cities. Easy Matatu customers use smartphones to reserve their rides on well-maintained vehicles with experienced and well-paid drivers who take them on a faster, safer and more comfortable commute. AppAbout, meanwhile, is currently serving five cinemas, 35 bars and 40 restuarants mostly in Kampala whereas Powell Pay is serving tens of schools in fees collections across the country. The recent innovation ideas that won the 2022 MTN MoMo Hackathon – E-wage system, MpaMpe and E-Pay –are also expected to graduate into viable businesses riding on the MTN Mobile Money Access Programming Interface (API). The e-wage payment system is a web-based application that seeks to facilitate single payment of casual workers via their mobile phones. MpaMpe is a digital hybrid crowd-funding application that seeks to bridge the gap between the needy or campaigners and funders or sponsors to support their ideas through a transparent model and accountability of funds while M-Pay seeks to enable MTN Uganda subscribers to make bulk payments to different people with a single click of a button. Richard Yego, the Managing Director at MTN Mobile Money Uganda Ltd said the company is proud that the MTN Mobile Money open Access Programming Interface (API) is empowering the country's youths to be self-reliant at the time access to jobs has become limited. “We are so happy that our decision to have prospective innovators access our MTN Mobile Money platform to create new solutions is yielding fruits,” he said. “We are seeing many youths now riding on our platform to come up with new solutions that have been monetized and now employing more other youths and thus help address the current challenge of unemployment.” Yego said MTN is currently implementing the Ambition 2025 Strategy premised on leading digital solutions for Africa's progress.
- [New developments Rethinking financial Inclusion](https://businessedge.news/new-developments-rethinking-financial-inclusion/): New developments in the financial sector have forced a rethink of how the sector should be developed to ensure it helps build a thriving economy that works for every Ugandan, according to Moses Kagwa, the Director of Economic Affairs at the Ministry of Finance, Planning and Economic Development. Kaggwa, who spoke during the conference on reshaping the tax system to support the financial sector development strategy, on behalf of the Permanent Secretary and Secretary to the Treasury, Ramathan Goobi, underlined the importance of the financial sector to any economy and hence its need to keep with the times. “The financial sector fosters growth by mobilizing and pooling savings for the allocation of capital in productive investment. It ensures that resources go where they are needed and all of society is included. It is no surprise that countries with mature financial sectors enjoy stronger and more inclusive economic growth,” he said. He observed the government came up with a strategy, the Financial Sector Development Strategy (FSDS) to ensure the financial sector plays its central role in the planned transformation of the economy. The FSDS's three strategic objectives are to ensure, financial services for all, financial services for markets, and financial services for growth. Under the strategy, the government has set a target of having up to 80 percent of Ugandans formally financially included by increasing the range of financial products, expanding delivery channels, improving financial education, and strengthening low-tier financial institutions.
- [DIAMOND TRUST BANK (DTB) JOIN HANDS WITH MATERCARD TO DEEPEN FINANCIAL INCLUSION IN THE WEST NILE REGION](https://businessedge.news/diamond-trust-bank-dtb-join-hands-with-matercard-to-deepen-financial-inclusion-in-the-west-nile-region/): Diamond Trust Bank – DTB AND Mastercard have embarked on a drive to increase financial inclusion in the eleven Districts of the West Nile region. These districts include; Arua, Koboko, Yumbe, Zombo, Maracha, Nebbi, and Adjumani among others. The drive intends to increase the usage of formal banking services in the region through use of affordable banking services backed by state of the art-technology cards – The DTB Platinum Debit Mastercard.  Communities in the West Nile region will be transformed to appreciate and utilize formal banking services and with minimal cash handling while doing business or any form of financial transaction. Customers will be utilizing the DTB Platinum Debit Mastercard to make payments locally and internationally.  At an event in Arua District, DTB Managing Directed revealed that over 50 people have been recruited to sensitize and enroll communities in the region into formal banking. These will be signed up on the DTB Digital Banking savings account which will automatically give them a DTB Platinum Debit Mastercard.  The DTB Platinum Mastercard offers a vast array of benefits, the value that they provide to cardholders falls into one of four categories namely, access, safety and security, convenience, and control, and lastly recognition. The DTB Platinum Mastercard is no different and offers more distinguished and personal services that have been hand-picked for its customers, including lifestyle, travel and peace of mind benefits.
- [Hundreds Tipped on Financial Management](https://businessedge.news/hundreds-tipped-on-financial-management/): Hundreds of young people who turned up for season eight of the Men's Business Convention initiative, were tipped on the importance of financial management and record keeping. The three-day training, which was held at Victory Church Ndeeba on Saturday, sought to promote a culture of mentorship among young men in the business space. Themed: “The hands-on experience,” the initiative focused on providing young entrepreneurs with the knowledge, skills, and abilities to improve how they operate their businesses aiming at beating losses.  The Executive Director of Diamond Trust Bank-DTB, Maina Kariuki, said young entrepreneurs should always first evaluate their business cash flows before taking loans. He said many people didn't have the knowledge on how to run enterprises and whether they actually needed the money they are borrowing. He emphasized double-checking the capacity to repay the loan, the contribution to the business, security coverage, the character in terms of integrity or creditworthiness, and the viability of the business in the environment. Kariuki also opined on looking out for banking covenants once loans are approved to avoid misunderstandings once the payment grace period elapses. Some of the covenants include period, disbursement covenants, collateral required, insurance costs, and annual returns submissions, among others.
- [DTB RELOCATES IT'S MASAKA BRANCH](https://businessedge.news/dtb-relocates-its-masaka-branch/): The new outlet located on Sena House, on Elgin Street Masaka opposite Buddu FM, comes 13 years since the lender opened its doors in the city.  DTB Managing Director, Thambi Varghese, said the move which coincided with International Customer Service Week, is meant to ease banking for customers.  “This branch will also be operating from 8:30 am to 6 pm from Monday to Saturday so that all the business people can do late banking and go home peacefully.” Most of the country's commercial banks open their doors to customers at 9 am and close at 5 pm. Varghese said customers can also optimize the online channels to carry out banking activities rather than visiting physical offices. “What we want to see is that everyone in Masaka should bank with us at least by Digital banking option. More than 90% of the transactions can be handled by this branch and mobile banking or Internet Banking,” he added.
- [The peaceful protests bridging a nation divided](https://businessedge.news/peaceful-protests-bridging-nation-divided/): There are a number of different theories and hypotheses regarding early state formation that seek generalizations to explain why the state developed in some places but not others. Other scholars believe that generalizations are unhelpful and that each case of early state formation should be treated on its own. Voluntary contend groups theories of people came together to form states as a result of some shared rational interest. Conflict theories of state formation regard conflict and dominance of some population over another population as key to the formation of states. The first states of sorts were those of early dynastic Sumer […]
- [The UN defend decision to change legislation in 2024](https://businessedge.news/un-defend-decision-change-legislation-2024/): Of the four fundamental interactions, gravitation is the dominant at astronomical length scales. Gravity effects are cumulative; by contrast, the effects of positive and negative charges tend to cancel one another, making electromagnetism relatively insignificant on astronomical length scales. The remaining two interactions, the weak and strong nuclear forces, decline very rapidly with distance; their effects are confined mainly to sub-atomic length scales. This diagram shows Earth location in the universe on increasingly larger scales. The images, labeled along their left edge, increase in size from left to right, then from top to bottom. The size of the universe is somewhat […]
- [President returns from visit to Europe amidst law investigations](https://businessedge.news/prime-minister-returns-visit-europe-amidst-law-investigations/): By astronomical convention, the four seasons can be determined by the solstices—the points in the orbit of maximum axial tilt toward or away from the Sun—and the equinoxes, when Earth rotational axis is aligned with its orbital axis. In the Northern Hemisphere, winter solstice currently occurs around 21 December; summer solstice is near 21 June, spring equinox is around 20 March and autumnal equinox is about 22 or 23 September. In the Southern Hemisphere, the situation is reversed, with the summer and winter solstices exchanged and the spring and autumnal equinox dates swapped. A planet that can sustain life is termed […]
- [Election Day: left-wing supporters brace themselves for historical moment in time](https://businessedge.news/election-day-left-wing-supporters-brace-themselves-historical-moment-time/): Cream skimmed from milk may be called “sweet cream” to distinguish it from cream skimmed from whey, a by-product of cheese-making. Whey cream has a lower fat content and tastes more salty, tangy and “cheesy”. In many countries, cream is usually sold partially fermented: sour cream, crème fraîche, and so on. Both forms have many culinary uses in sweet, bitter, salty and tangy dishes. Produced by cattle (particularly Jersey cattle) grazing on natural pasture often contains some natural carotenoid pigments derived from the plants they eat; this gives it a slightly yellow tone, hence the name of the yellowish-white color: cream. […]
- [Trial begins in London as first day of evidence is rejected](https://businessedge.news/trial-begins-london-first-day-evidence-rejected/): There are a number of different theories and hypotheses regarding early state formation that seek generalizations to explain why the state developed in some places but not others. Other scholars believe that generalizations are unhelpful and that each case of early state formation should be treated on its own. Voluntary contend groups theories of people came together to form states as a result of some shared rational interest. Conflict theories of state formation regard conflict and dominance of some population over another population as key to the formation of states. The first states of sorts were those of early dynastic Sumer […]
- [The Activists working on the front line to protect our planet won't give up](https://businessedge.news/activists-working-front-line-protect-our-planet-wont-give-up/): Of the four fundamental interactions, gravitation is the dominant at astronomical length scales. Gravity effects are cumulative; by contrast, the effects of positive and negative charges tend to cancel one another, making electromagnetism relatively insignificant on astronomical length scales. The remaining two interactions, the weak and strong nuclear forces, decline very rapidly with distance; their effects are confined mainly to sub-atomic length scales. This diagram shows Earth location in the universe on increasingly larger scales. The images, labeled along their left edge, increase in size from left to right, then from top to bottom. The size of the universe is somewhat […]
- [Our disaster President in a woke world - why it will never happen again](https://businessedge.news/our-disaster-president-woke-world-why-it-will-never-happen-again/): By astronomical convention, the four seasons can be determined by the solstices—the points in the orbit of maximum axial tilt toward or away from the Sun—and the equinoxes, when Earth rotational axis is aligned with its orbital axis. In the Northern Hemisphere, winter solstice currently occurs around 21 December; summer solstice is near 21 June, spring equinox is around 20 March and autumnal equinox is about 22 or 23 September. In the Southern Hemisphere, the situation is reversed, with the summer and winter solstices exchanged and the spring and autumnal equinox dates swapped. A planet that can sustain life is termed […]
- [Pandemic stories - the real people who were left behind and forgotten](https://businessedge.news/pandemic-stories-real-people-who-were-left-behind-forgotten/): Cream skimmed from milk may be called “sweet cream” to distinguish it from cream skimmed from whey, a by-product of cheese-making. Whey cream has a lower fat content and tastes more salty, tangy and “cheesy”. In many countries, cream is usually sold partially fermented: sour cream, crème fraîche, and so on. Both forms have many culinary uses in sweet, bitter, salty and tangy dishes. Produced by cattle (particularly Jersey cattle) grazing on natural pasture often contains some natural carotenoid pigments derived from the plants they eat; this gives it a slightly yellow tone, hence the name of the yellowish-white color: cream. […]
- [Of course we are stressed - the mainstream news is no longer a daily morning ritual](https://businessedge.news/of-course-we-are-stressed-mainstream-news-no-longer-daily-morning-ritual/): There are a number of different theories and hypotheses regarding early state formation that seek generalizations to explain why the state developed in some places but not others. Other scholars believe that generalizations are unhelpful and that each case of early state formation should be treated on its own. Voluntary contend groups theories of people came together to form states as a result of some shared rational interest. Conflict theories of state formation regard conflict and dominance of some population over another population as key to the formation of states. The first states of sorts were those of early dynastic Sumer […]
- [Is this the end of private tuition? More parents begin homeschooling their children](https://businessedge.news/is-end-private-tuition-more-parents-begin-homeschooling-their-children/): Of the four fundamental interactions, gravitation is the dominant at astronomical length scales. Gravity effects are cumulative; by contrast, the effects of positive and negative charges tend to cancel one another, making electromagnetism relatively insignificant on astronomical length scales. The remaining two interactions, the weak and strong nuclear forces, decline very rapidly with distance; their effects are confined mainly to sub-atomic length scales. This diagram shows Earth location in the universe on increasingly larger scales. The images, labeled along their left edge, increase in size from left to right, then from top to bottom. The size of the universe is somewhat […]
- [Our Opinion Editor's take on what would happen if we could all afford a private therapist](https://businessedge.news/our-opinion-editors-take-what-would-happen-if-we-could-all-afford-private-therapist/): By astronomical convention, the four seasons can be determined by the solstices—the points in the orbit of maximum axial tilt toward or away from the Sun—and the equinoxes, when Earth rotational axis is aligned with its orbital axis. In the Northern Hemisphere, winter solstice currently occurs around 21 December; summer solstice is near 21 June, spring equinox is around 20 March and autumnal equinox is about 22 or 23 September. In the Southern Hemisphere, the situation is reversed, with the summer and winter solstices exchanged and the spring and autumnal equinox dates swapped. A planet that can sustain life is termed […]
- [Flights suspended amidst tourist overcrowding in European cities](https://businessedge.news/flights-suspended-amidst-tourist-overcrowding-european-cities/): During the late 16th century it became fashionable for young European aristocrats and wealthy upper-class men to travel to significant European cities as part of their education in the arts and literature. This was known as the Grand Tour, it included cities such as London, Paris, Venice, Florence and Rome. However, The French revolution brought with it the end of the Grand Tour. Travel may be local, regional, national (domestic) or international. In some countries, non-local internal travel may require an internal passport, while international travel typically requires a passport and visa. A trip may also be part of a round-trip, […]
- [The Organic cotton farms revolutionising the industry](https://businessedge.news/organic-cotton-farms-revolutionising-industry/): There are a number of different theories and hypotheses regarding early state formation that seek generalizations to explain why the state developed in some places but not others. Other scholars believe that generalizations are unhelpful and that each case of early state formation should be treated on its own. Voluntary contend groups theories of people came together to form states as a result of some shared rational interest. Conflict theories of state formation regard conflict and dominance of some population over another population as key to the formation of states. The first states of sorts were those of early dynastic Sumer […]
- [Health service prescribes mindfulness for anxiety and depression](https://businessedge.news/health-service-prescribes-mindfulness-anxiety-depression/): Of the four fundamental interactions, gravitation is the dominant at astronomical length scales. Gravity effects are cumulative; by contrast, the effects of positive and negative charges tend to cancel one another, making electromagnetism relatively insignificant on astronomical length scales. The remaining two interactions, the weak and strong nuclear forces, decline very rapidly with distance; their effects are confined mainly to sub-atomic length scales. This diagram shows Earth location in the universe on increasingly larger scales. The images, labeled along their left edge, increase in size from left to right, then from top to bottom. The size of the universe is somewhat […]
- [The fight against poverty continues as supplies and funding increase](https://businessedge.news/fight-against-poverty-continues-supplies-funding-increase/): By astronomical convention, the four seasons can be determined by the solstices—the points in the orbit of maximum axial tilt toward or away from the Sun—and the equinoxes, when Earth rotational axis is aligned with its orbital axis. In the Northern Hemisphere, winter solstice currently occurs around 21 December; summer solstice is near 21 June, spring equinox is around 20 March and autumnal equinox is about 22 or 23 September. In the Southern Hemisphere, the situation is reversed, with the summer and winter solstices exchanged and the spring and autumnal equinox dates swapped. A planet that can sustain life is termed […]
- [Increase in remote working as businesses close](https://businessedge.news/increase-remote-working-businesses-close/): Cream skimmed from milk may be called “sweet cream” to distinguish it from cream skimmed from whey, a by-product of cheese-making. Whey cream has a lower fat content and tastes more salty, tangy and “cheesy”. In many countries, cream is usually sold partially fermented: sour cream, crème fraîche, and so on. Both forms have many culinary uses in sweet, bitter, salty and tangy dishes. Produced by cattle (particularly Jersey cattle) grazing on natural pasture often contains some natural carotenoid pigments derived from the plants they eat; this gives it a slightly yellow tone, hence the name of the yellowish-white color: cream. […]
- [The Poet who redefined our notion of love](https://businessedge.news/poet-who-redefined-our-notion-love/): There are a number of different theories and hypotheses regarding early state formation that seek generalizations to explain why the state developed in some places but not others. Other scholars believe that generalizations are unhelpful and that each case of early state formation should be treated on its own. Voluntary contend groups theories of people came together to form states as a result of some shared rational interest. Conflict theories of state formation regard conflict and dominance of some population over another population as key to the formation of states. The first states of sorts were those of early dynastic Sumer […]
- [My running journey saved my life](https://businessedge.news/my-running-journey-saved-my-life/): During the late 16th century it became fashionable for young European aristocrats and wealthy upper-class men to travel to significant European cities as part of their education in the arts and literature. This was known as the Grand Tour, it included cities such as London, Paris, Venice, Florence and Rome. However, The French revolution brought with it the end of the Grand Tour. Travel may be local, regional, national (domestic) or international. In some countries, non-local internal travel may require an internal passport, while international travel typically requires a passport and visa. A trip may also be part of a round-trip, […]
- [New molecules uncovered in small training lab](https://businessedge.news/new-molecules-uncovered-small-training-lab/): By astronomical convention, the four seasons can be determined by the solstices—the points in the orbit of maximum axial tilt toward or away from the Sun—and the equinoxes, when Earth rotational axis is aligned with its orbital axis. In the Northern Hemisphere, winter solstice currently occurs around 21 December; summer solstice is near 21 June, spring equinox is around 20 March and autumnal equinox is about 22 or 23 September. In the Southern Hemisphere, the situation is reversed, with the summer and winter solstices exchanged and the spring and autumnal equinox dates swapped. A planet that can sustain life is termed […]
- [The magical effects of solo travel](https://businessedge.news/magical-effects-solo-travel/): Cream skimmed from milk may be called “sweet cream” to distinguish it from cream skimmed from whey, a by-product of cheese-making. Whey cream has a lower fat content and tastes more salty, tangy and “cheesy”. In many countries, cream is usually sold partially fermented: sour cream, crème fraîche, and so on. Both forms have many culinary uses in sweet, bitter, salty and tangy dishes. Produced by cattle (particularly Jersey cattle) grazing on natural pasture often contains some natural carotenoid pigments derived from the plants they eat; this gives it a slightly yellow tone, hence the name of the yellowish-white color: cream. […]
- [New captain named in recent defeat against the Wildcats](https://businessedge.news/new-captain-named-recent-defeat-against-wildcats/): There are a number of different theories and hypotheses regarding early state formation that seek generalizations to explain why the state developed in some places but not others. Other scholars believe that generalizations are unhelpful and that each case of early state formation should be treated on its own. Voluntary contend groups theories of people came together to form states as a result of some shared rational interest. Conflict theories of state formation regard conflict and dominance of some population over another population as key to the formation of states. The first states of sorts were those of early dynastic Sumer […]
- [Pet owners pushed to decide future](https://businessedge.news/pet-owners-pushed-decide-future/): Of the four fundamental interactions, gravitation is the dominant at astronomical length scales. Gravity effects are cumulative; by contrast, the effects of positive and negative charges tend to cancel one another, making electromagnetism relatively insignificant on astronomical length scales. The remaining two interactions, the weak and strong nuclear forces, decline very rapidly with distance; their effects are confined mainly to sub-atomic length scales. This diagram shows Earth location in the universe on increasingly larger scales. The images, labeled along their left edge, increase in size from left to right, then from top to bottom. The size of the universe is somewhat […]
- [More universities review entry requirements](https://businessedge.news/more-universities-review-entry-requirements/): By astronomical convention, the four seasons can be determined by the solstices—the points in the orbit of maximum axial tilt toward or away from the Sun—and the equinoxes, when Earth rotational axis is aligned with its orbital axis. In the Northern Hemisphere, winter solstice currently occurs around 21 December; summer solstice is near 21 June, spring equinox is around 20 March and autumnal equinox is about 22 or 23 September. In the Southern Hemisphere, the situation is reversed, with the summer and winter solstices exchanged and the spring and autumnal equinox dates swapped. A planet that can sustain life is termed […]
- [The commercialisation of urban architecture](https://businessedge.news/commercialisation-urban-architecture/): Cream skimmed from milk may be called “sweet cream” to distinguish it from cream skimmed from whey, a by-product of cheese-making. Whey cream has a lower fat content and tastes more salty, tangy and “cheesy”. In many countries, cream is usually sold partially fermented: sour cream, crème fraîche, and so on. Both forms have many culinary uses in sweet, bitter, salty and tangy dishes. Produced by cattle (particularly Jersey cattle) grazing on natural pasture often contains some natural carotenoid pigments derived from the plants they eat; this gives it a slightly yellow tone, hence the name of the yellowish-white color: cream. […]
- [Nasa programme launched to promote space travel](https://businessedge.news/nasa-programme-launched-promote-space-travel/): There are a number of different theories and hypotheses regarding early state formation that seek generalizations to explain why the state developed in some places but not others. Other scholars believe that generalizations are unhelpful and that each case of early state formation should be treated on its own. Voluntary contend groups theories of people came together to form states as a result of some shared rational interest. Conflict theories of state formation regard conflict and dominance of some population over another population as key to the formation of states. The first states of sorts were those of early dynastic Sumer […]
- [The unsung hero of the 1920's beauty industry](https://businessedge.news/unsung-hero-1920s-beauty-industry/): Of the four fundamental interactions, gravitation is the dominant at astronomical length scales. Gravity effects are cumulative; by contrast, the effects of positive and negative charges tend to cancel one another, making electromagnetism relatively insignificant on astronomical length scales. The remaining two interactions, the weak and strong nuclear forces, decline very rapidly with distance; their effects are confined mainly to sub-atomic length scales. This diagram shows Earth location in the universe on increasingly larger scales. The images, labeled along their left edge, increase in size from left to right, then from top to bottom. The size of the universe is somewhat […]
- [Tradition versus a zero-waste lifestyle](https://businessedge.news/tradition-versus-zero-waste-lifestyle/): By astronomical convention, the four seasons can be determined by the solstices—the points in the orbit of maximum axial tilt toward or away from the Sun—and the equinoxes, when Earth rotational axis is aligned with its orbital axis. In the Northern Hemisphere, winter solstice currently occurs around 21 December; summer solstice is near 21 June, spring equinox is around 20 March and autumnal equinox is about 22 or 23 September. In the Southern Hemisphere, the situation is reversed, with the summer and winter solstices exchanged and the spring and autumnal equinox dates swapped. A planet that can sustain life is termed […]
- [Millions of masks produced in record time as new rules unveiled](https://businessedge.news/millions-masks-produced-record-time-new-rules-unveiled/): Cream skimmed from milk may be called “sweet cream” to distinguish it from cream skimmed from whey, a by-product of cheese-making. Whey cream has a lower fat content and tastes more salty, tangy and “cheesy”. In many countries, cream is usually sold partially fermented: sour cream, crème fraîche, and so on. Both forms have many culinary uses in sweet, bitter, salty and tangy dishes. Produced by cattle (particularly Jersey cattle) grazing on natural pasture often contains some natural carotenoid pigments derived from the plants they eat; this gives it a slightly yellow tone, hence the name of the yellowish-white color: cream. […]
- [Alternative and natural medicine purchases increase amidst factory scandal](https://businessedge.news/alternative-natural-medicine-purchases-increase-amidst-factory-scandal/): There are a number of different theories and hypotheses regarding early state formation that seek generalizations to explain why the state developed in some places but not others. Other scholars believe that generalizations are unhelpful and that each case of early state formation should be treated on its own. Voluntary contend groups theories of people came together to form states as a result of some shared rational interest. Conflict theories of state formation regard conflict and dominance of some population over another population as key to the formation of states. The first states of sorts were those of early dynastic Sumer […]
- [Ministers adopt Socialism ethos and values in rural areas to combat capitalism](https://businessedge.news/ministers-adopt-socialism-ethos-values-rural-areas-combat-capitalism/): Of the four fundamental interactions, gravitation is the dominant at astronomical length scales. Gravity effects are cumulative; by contrast, the effects of positive and negative charges tend to cancel one another, making electromagnetism relatively insignificant on astronomical length scales. The remaining two interactions, the weak and strong nuclear forces, decline very rapidly with distance; their effects are confined mainly to sub-atomic length scales. This diagram shows Earth location in the universe on increasingly larger scales. The images, labeled along their left edge, increase in size from left to right, then from top to bottom. The size of the universe is somewhat […]
- [Art dealer found guilty of forgery at showcase exhibition](https://businessedge.news/art-dealer-found-guilty-forgery-at-showcase-exhibition/): By astronomical convention, the four seasons can be determined by the solstices—the points in the orbit of maximum axial tilt toward or away from the Sun—and the equinoxes, when Earth rotational axis is aligned with its orbital axis. In the Northern Hemisphere, winter solstice currently occurs around 21 December; summer solstice is near 21 June, spring equinox is around 20 March and autumnal equinox is about 22 or 23 September. In the Southern Hemisphere, the situation is reversed, with the summer and winter solstices exchanged and the spring and autumnal equinox dates swapped. A planet that can sustain life is termed […]
- [The history of city dwelling and how materialism fooled us all](https://businessedge.news/history-city-dwelling-how-materialism-fooled-us-all/): Cream skimmed from milk may be called “sweet cream” to distinguish it from cream skimmed from whey, a by-product of cheese-making. Whey cream has a lower fat content and tastes more salty, tangy and “cheesy”. In many countries, cream is usually sold partially fermented: sour cream, crème fraîche, and so on. Both forms have many culinary uses in sweet, bitter, salty and tangy dishes. Produced by cattle (particularly Jersey cattle) grazing on natural pasture often contains some natural carotenoid pigments derived from the plants they eat; this gives it a slightly yellow tone, hence the name of the yellowish-white color: cream. […]
- [The great city smog of the last decade reveals extraordinary data](https://businessedge.news/great-city-smog-last-decade-reveals-extraordinary-data/): There are a number of different theories and hypotheses regarding early state formation that seek generalizations to explain why the state developed in some places but not others. Other scholars believe that generalizations are unhelpful and that each case of early state formation should be treated on its own. Voluntary contend groups theories of people came together to form states as a result of some shared rational interest. Conflict theories of state formation regard conflict and dominance of some population over another population as key to the formation of states. The first states of sorts were those of early dynastic Sumer […]
- [The mystery of summer rainfall](https://businessedge.news/mystery-summer-rainfall/): Of the four fundamental interactions, gravitation is the dominant at astronomical length scales. Gravity effects are cumulative; by contrast, the effects of positive and negative charges tend to cancel one another, making electromagnetism relatively insignificant on astronomical length scales. The remaining two interactions, the weak and strong nuclear forces, decline very rapidly with distance; their effects are confined mainly to sub-atomic length scales. This diagram shows Earth location in the universe on increasingly larger scales. The images, labeled along their left edge, increase in size from left to right, then from top to bottom. The size of the universe is somewhat […]
- [Scientists discover liquid water ocean beneath Pluto's surface](https://businessedge.news/scientists-discover-liquid-water-ocean-beneath-plutos-surface/): By astronomical convention, the four seasons can be determined by the solstices—the points in the orbit of maximum axial tilt toward or away from the Sun—and the equinoxes, when Earth rotational axis is aligned with its orbital axis. In the Northern Hemisphere, winter solstice currently occurs around 21 December; summer solstice is near 21 June, spring equinox is around 20 March and autumnal equinox is about 22 or 23 September. In the Southern Hemisphere, the situation is reversed, with the summer and winter solstices exchanged and the spring and autumnal equinox dates swapped. A planet that can sustain life is termed […]
- [Road closures causing havoc to commuters](https://businessedge.news/road-closures-causing-havoc-commuters/): Cream skimmed from milk may be called “sweet cream” to distinguish it from cream skimmed from whey, a by-product of cheese-making. Whey cream has a lower fat content and tastes more salty, tangy and “cheesy”. In many countries, cream is usually sold partially fermented: sour cream, crème fraîche, and so on. Both forms have many culinary uses in sweet, bitter, salty and tangy dishes. Produced by cattle (particularly Jersey cattle) grazing on natural pasture often contains some natural carotenoid pigments derived from the plants they eat; this gives it a slightly yellow tone, hence the name of the yellowish-white color: cream. […]
- [Breakthrough in satellite probe technology as research advances](https://businessedge.news/breakthrough-satellite-probe-technology-research-advances/): There are a number of different theories and hypotheses regarding early state formation that seek generalizations to explain why the state developed in some places but not others. Other scholars believe that generalizations are unhelpful and that each case of early state formation should be treated on its own. Voluntary contend groups theories of people came together to form states as a result of some shared rational interest. Conflict theories of state formation regard conflict and dominance of some population over another population as key to the formation of states. The first states of sorts were those of early dynastic Sumer […]
- [Unlimited money but unable to open a savings account in my own name](https://businessedge.news/unlimited-money-but-unable-open-savings-account-my-own-name/): Of the four fundamental interactions, gravitation is the dominant at astronomical length scales. Gravity effects are cumulative; by contrast, the effects of positive and negative charges tend to cancel one another, making electromagnetism relatively insignificant on astronomical length scales. The remaining two interactions, the weak and strong nuclear forces, decline very rapidly with distance; their effects are confined mainly to sub-atomic length scales. This diagram shows Earth location in the universe on increasingly larger scales. The images, labeled along their left edge, increase in size from left to right, then from top to bottom. The size of the universe is somewhat […]
- [Minister cautions entrepreneurs on informality](https://businessedge.news/minister-cautions-entrepreneurs-on-informality/): Entrepreneurs have been urged to formalize their business ventures if they are to benefit from financial services providers and expand their businesses.
- [Optimism amidst Turkey coffee exports surge](https://businessedge.news/optimism-amidst-turkey-coffee-exports-surge/): Ugandan coffee exporters have found a new market in Turkey as coffee producers worldwide brace themselves for new European Union regulations that bar coffee products that are sourced from countries that degrade the environment.
- [Kidepo National Park to get posh airport, hotels](https://businessedge.news/kidepo-national-park-to-get-posh-airport-hotels/): The Government of Uganda has reached an agreement with the Sharjah Chamber of Commerce and Industry, a UAE group of investors, to construct Kidepo International Airport and the establishment of high-end tourist hotels in the Kidepo National Park in Karamoja.
- [Uganda Airlines  boss cautions suppliers on quality](https://businessedge.news/uganda-airlines-boss-cautions-suppliers-on-quality/): Local suppliers have been urged to adhere to international quality standards if they are to benefit from the business opportunities available at the Uganda Airlines Corporation.
- [MTN launches UGX4.5 bn project for youth](https://businessedge.news/mtn-launches-ugx4-5-bn-project-for-youth/): In January last year, Brian Tweheyo conceived the idea of a digital solution that would make renting easier for both tenants and landlords in the residential and commercial rental space.
- [Moos as Kenya blocks Ugandan dairy products again](https://businessedge.news/moos-as-kenya-blocks-ugandan-dairy-products-again/): Top dairy exporters are bitter that Kenya has once again refused to grant them licenses to export their products to the lucrative market.
- [Why BoU closed Mercantile Credit Bank](https://businessedge.news/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 Credit Bank Limited, after over three decades of operation.
- [Stop budgeting for corruption, CSOs tell MPs](https://businessedge.news/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](https://businessedge.news/stanbicaes-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, thanks to a new partnership between FlexiPay, Stanbic Bank’s digital payment platform, the International Fund for Agricultural Development (IFAD), and Upesi Money Transfer, a regional payments company.
- [Museveni assents to Free Zones Authority, Exports Board merger](https://businessedge.news/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](https://businessedge.news/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 year.
- [Ugandan innovation wins UGX70m engineering prize](https://businessedge.news/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, at a ceremony held in Nairobi yesterday.
- [Goverment defends new Atomic Energy Bill](https://businessedge.news/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](https://businessedge.news/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](https://businessedge.news/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 excellence within Uganda’s golfing community.
- [Dubai Businessman Maktoum awarded top national honour](https://businessedge.news/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 from the United Arab Emirates (UAE), in recognition of his exceptional contribution to Uganda’s socio-economic transformation.
- [Uganda acquires $500m loan from S.Korea](https://businessedge.news/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 has said.
- [MTN restores five forests, set to introduce electric vehicles](https://businessedge.news/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, slashing carbon emissions and is now set to produce wind power and replace part of its fleet with electric vehicles.
- [POATE exhibitors win Kenya Airways tickets](https://businessedge.news/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, following a raffle draw.
- [BoU maintains CBR at 10.25% as inflationary pressures persist](https://businessedge.news/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 significant depreciation of the Ugandan shilling against major currencies.
- [Tomatoes, vegetables push inflation to 3.6%](https://businessedge.news/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](https://businessedge.news/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](https://businessedge.news/mtn-offers-girlsae-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 program, which aims at equipping more than 500 girls with digital skills.
- [UDB, Centenary Bank scoop top banking accolades](https://businessedge.news/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 May 29.
- [Address drivers of rising national debt - experts](https://businessedge.news/address-drivers-of-rising-national-debt-experts/): Uganda’s debt risks are becoming more pronounced both in the short to medium term, largely attributed to poor debt utilization as one of the key causes of the nation's mounting public debt stock.
- [Footballer Cristiano Ronaldo tops highest-paid list](https://businessedge.news/footballer-cristiano-ronaldo-tops-highest-paid-list/): For the second year in a row, Cristiano Ronaldo, 39, is on top of the list of the highest-paid athletes compiled by Forbes, a US-based business magazine.
- [MTN offers 1.5 billion additional shares to Ugandans](https://businessedge.news/mtn-offers-1-5-billion-additional-shares-to-ugandans/): MTN Uganda has received the green light  from the capital markets regulators to sell more than 1.5 billion ordinary shares to the public.
- [Uganda Cranes fans to receive millions from MTN](https://businessedge.news/uganda-cranes-fans-to-receive-millions-from-mtn/): In a bid to re-ignite passion for the national football team, the Uganda Cranes, MTN Uganda has launched a new campaign to identify and reward the country’s top cheerleaders ahead of the forth-coming World Cup 2026 qualifiers.
- [New NCBA branch to serve Namanve investors](https://businessedge.news/new-ncba-branch-to-serve-namanve-investors/): NCBA Bank has opened a new branch, strategically located in Namanve Industrial Park near Kampala, a development officials said underscores the bank’s commitment to developing and supporting large businesses in the country
- [MTN contributes UGX42.5 billion to UCC Fund](https://businessedge.news/mtn-contributes-ugx42-5-billion-to-ucc-fund/): MTN Uganda has handed over a contribution of UGX42.5 billion in a major boost to the Uganda Communications Commission’s Universal Service and Access Fund.  The amount indicates a significant increase from last year's UGX36 billion.
- [BoU chief salutes DTB’s Thambi over exceptional performance](https://businessedge.news/bou-chief-salutes-dtbaes-thambi-over-exceptional-performance/): The Bank of Uganda Acting Governor, Dr Michael Atingi-Ego has hailed Thambi Verghese, the outgoing managing director of Diamond Trust Bank Uganda, for transforming a previously small bank into the financial services giant it is today.
- [Why is URA over-complicating a simple VAT system?](https://businessedge.news/why-is-ura-over-complicating-a-simple-vat-system/): The ongoing fight between small-scale traders and the tax authorities is a clear indication that the administration of Value Added Tax (VAT) has glaring gaps, which must be addressed to promote national development.
- [Economic uncertainty as Uganda’s credit rating is downgraded](https://businessedge.news/economic-uncertainty-as-ugandaaes-credit-rating-is-downgraded/): Global credit rating agency Moody’s Ratings has downgraded Uganda’s long-term foreign-currency and local-currency issuer ratings to B3 from B2, a development that implies that going forward Uganda’s bonds would be less attractive to international investors and the government would have to borrow at higher interest rates from both global and local lenders.
- [UBA elects new Board as assets soar to UGX50 trillion](https://businessedge.news/uba-elects-new-board-as-assets-soar-to-ugx50-trillion/): Members of the Uganda Bankers Association (UBA) have voted Julius Kakeeto as their new chairperson, replacing Sarah Arapta.
- [Uganda Breweries injects UGX100m into POATE 2024](https://businessedge.news/uganda-breweries-injects-ugx100m-into-poate-2024/): Uganda Breweries Limited, makers of Pilsner Lager, have announced a sponsorship deal worth UGX100m for the Pearl of Africa Tourism Expo (POATE), which starts on May 23 at Speke Resort Munyonyo.
- [Salaried employees warned on saving](https://businessedge.news/salaried-employees-warned-on-saving/): Individuals and businesses should take advantage of the current fragile economic situation to adopt a culture of saving, which is crucial for sustaining the growth of their social well-being.
- [Expectations high as UNBS gets hi-tech executive director](https://businessedge.news/expectations-high-as-unbs-gets-hi-tech-executive-director/): Mr. James N. Kasigwa has been named the new executive director of the Uganda National Bureau of Standards (UNBS) following an appointment by the Minster of Trade, Industry and Cooperatives, Francis Mwebesa.
- [Uganda getting set for 24,000 megawatts nuclear plant](https://businessedge.news/uganda-getting-set-for-24000-megawatts-nuclear-plant/): Uganda's uranium exploration is gaining momentum to meet global energy demands, with plans for a 24,000MW nuclear power station by 2040, Irene Batebe, the permanent secretary for the ministry of Energy and Minerals Development, has said.
- [Shell launches engine oil campaign for motorcycles](https://businessedge.news/shell-launches-engine-oil-campaign-for-motorcycles/): Shell Uganda has launched a new campaign to promote the use of Shell Advance AX5, a new premium quality 4-stroke motorcycle engine oil, which helps to clean and protect the engine by preventing the build-up of deposits and maintaining engine cleanliness.
- [Manufacturers task Gov't, banks on high interest rates](https://businessedge.news/manufacturers-task-govt-banks-on-high-interest-rates/): The Government wants commercial banks to lower the interest rates they charge manufacturers so as to stimulate growth in the sector, but banks also insist that the Government has an important role to play.
- [URA now to deploy drones in smuggling fight](https://businessedge.news/ura-now-to-deploy-drones-in-smuggling-fight/): The Uganda Revenue Authority (URA) has said they are to invest in surveillance drones at porous border points in an effort to curb the vice of smuggling.
- [NCBA Bank partners with NFA to plant 20,000 trees](https://businessedge.news/ncba-bank-partners-with-nfa-to-plant-20000-trees/): Corporate banker, NCBA Bank Uganda, has entered a partnership with the National Forestry Authority (NFA) for an ambitious initiative to re-plant 20,000 trees in the Jubiya Forest Reserve in Masaka District, as part of efforts to replace the dwindling forest cover across the country.
- [Bankers protest proposed ATM cash tax](https://businessedge.news/bankers-protest-proposed-atm-cash-tax/): Commercial banks have objected to the government proposal to impose a 0.5% levy on all cash withdrawals made through ATMs, saying the move would be counterproductive.
- [EU, Denmark offer UGX66 bn to Ugandan farmers](https://businessedge.news/eu-denmark-offer-ugx66-bn-to-ugandan-farmers/): The European Union (EU) and Denmark have announced funding amounting to more than UGX66 billion in a bid to boost agricultural productivity and help Ugandan farmers to withstand the challenges associated with climate change.
- [I&M Bank partners with Nnaabagereka for Queen's Ball](https://businessedge.news/im-bank-partners-with-nnaabagereka-for-queens-ball/): I&M Bank Uganda has partnered with the Nnaabagereka Fund to organise the first Queen's Ball, aimed at raising funds to support women, youth, and children with mental issues.
- [Mukene, fuel top April inflation drivers](https://businessedge.news/mukene-fuel-top-april-inflation-drivers/): The rising prices of fish and fuel were the main drivers of annual inflation as measured by the Consumer Price Index in April, according to the Uganda Bureau of Statistics (UBOS).
- [NCBA Bank buoyed by UGX27 bn net profit](https://businessedge.news/ncba-bank-buoyed-by-ugx27-bn-net-profit/): Corporate banker, NCBA Bank Uganda has announced its financial results for the fiscal year 2023, showcasing robust growth and profitability driven by strategic investments in a strong performance culture.
- [Physical planners' body warns on quacks as new Council is elected](https://businessedge.news/physical-planners-body-warns-on-quacks-as-new-council-is-elected/): Members of the Society of Professional Physical Planners of Uganda have elected new leaders as the government moves in to crackdown on imposters in the physical planning field.
- [Coffee export volumes show slump in March](https://businessedge.news/coffee-export-volumes-show-slump-in-march/): In comparison to the previous month, Uganda's coffee exports recorded a significant decrease in March 2024, according to the Uganda Coffee Development Authority report.
- [New UDB incubator plan targets 290 entrepreneurs](https://businessedge.news/new-udb-incubator-plan-targets-290-entrepreneurs/): The Uganda Development Bank, Uganda's national development finance institution, has announced the launch of an incubator programme designed to prepare hundreds of young entrepreneurs for the funding they need to scale up their businesses.
- [Coffee exports anxiety after UGX32 bn budget cut](https://businessedge.news/coffee-exports-anxiety-after-ugx32-bn-budget-cut/): The Uganda Coffee Development Authority wants Parliament to intervene following the Government's decision not to provide the UGX32.5 billion required for the establishment of a coffee traceability system in order to protect Uganda's coffee exports to the European Union.
- [UBL sets up UGX20 billion cleaning facility](https://businessedge.news/ubl-sets-up-ugx20-billion-cleaning-facility/): Uganda Breweries Limited, the maker of Tusker and Guinness, has commissioned a state-of-the-art effluent treatment plant, which officials said marks a significant milestone in the company's commitment to sustainability and reducing its carbon footprint.
- [Inflation: Bank of Uganda raises CBR again](https://businessedge.news/inflation-bank-of-uganda-raises-cbr-again/): For the second month in a row, the Bank of Uganda has raised its key rate, the central bank rate (CBR) in a bold move to combat inflation.
- [URA tasked to sensitise traders on how Electronic Fiscal Receipting and Invoicing Solution (EFRIS) works to avoid demonstrations.](https://businessedge.news/ura-tasked-to-sensitise-traders-on-how-electronic-fiscal-receipting-and-invoicing-solution-efris-works-to-avoid-demonstrations/): In January 2021, URA implemented EFRIS to tackle tax administration issues associated with business transactions and receipt issuance.
- [Will new guidelines mop up online lending mess?](https://businessedge.news/will-new-guidelines-mop-up-online-lending-mess/): Moses Nkonge desperately needed cash to put windows and doors in his family house having got fed up of renting. A friend suggested that he gets a loan from an online lending platform. Indeed, he got the money in no time and finished his house.
- [Mind standards, exporters told as AFTA takes shape](https://businessedge.news/mind-standards-exporters-told-as-afta-takes-shape/): Uganda's micro, small and medium enterprises (MSMEs) have been urged to ensure high quality standards if they are to benefit from the lucrative African Continent Free trade Area (AFTA).
- [Airtel Uganda boosts UCC fund with UGX34.8 billion](https://businessedge.news/airtel-uganda-boosts-ucc-fund-with-ugx34-8-billion/): Airtel Uganda has handed over a cheque worth UGX34.8 billion to the Uganda Communications Commission aimed at supporting the establishment of better communication infrastructure and technologies in rural areas across the country.
- [Optimism as tourism earnings hit $1 bn mark](https://businessedge.news/optimism-as-tourism-earnings-hit-1-bn-mark/): Uganda's post-pandemic tourism revenues topped UGX3.82 trillion (USD1 billion) in 2023, painting a promising picture for Uganda's economic post-Covid recovery, according to a new report.
- [Will new online lending guidelines foster responsible borrowing?](https://businessedge.news/will-new-online-lending-guidelines-foster-responsible-borrowing/): Last month, the Uganda Microfinance Regulatory Authority (UMRA) introduced digital lending guidelines tailored for microfinance institutions (MFIs) and online lenders in a bold move towards shaping responsible lending and borrowing practices.  This move signaled a concerted effort to address the challenges and opportunities presented by the digital financial landscape.
- [Young golfers shine at NCBA Golf Open](https://businessedge.news/young-golfers-shine-at-ncba-golf-open/): Junior golfers from five different countries have demonstrated their talent and passion for the sport at the NCBA Uganda Golf Open 2024, hosted at the Lake Victoria Serena Golf & Spa Resort in Kigo.
- [Relief as UNOC finally secures Kenyan oil import licence](https://businessedge.news/relief-as-unoc-finally-secures-kenyan-oil-import-licence/): The Uganda National Oil Company (UNOC) will effective next month start importing petroleum products through Kenya following the end of a bitter dispute between the two regional partners over direct oil imports through the Kenyan port of Mombasa.
- [Vendors get UGX10m for using mobile money](https://businessedge.news/vendors-get-ugx10m-for-using-mobile-money/): As part of its efforts to champion financial inclusion and empower women, MTN Mobile Money, in partnership with Ericsson, has rewarded women vendors at Kalerwe Market in Kampala, for encouraging their customers to use mobile money for their grocery purchases.
- [PSFU, Dutch launch UGX14 bn renewable energy project](https://businessedge.news/psfu-dutch-launch-ugx14-bn-renewable-energy-project/): The Private Sector Foundation Uganda (PSFU) in partnership with the Netherlands Directorate General for International Cooperation (DGIS) have launched a renewable energy project worth 3.4 million Euros (about UGX14 billion), aimed at on increasing access to solar and clean cooking technologies in 13 refugee-hosting districts in northern Uganda.
- [New report highlights serious gaps in NSSF benefits](https://businessedge.news/new-report-highlights-serious-gaps-in-nssf-benefits/): The majority of people who received their benefits from the National Security Fund (NSSF) did not acquire any form of financial literacy before receiving their cash, which severely undermined how they spent the money, a new report has shown.
- [Sebaana new DTB boss as Thambi exits](https://businessedge.news/sebaana-new-dtb-boss-as-thambi-exits/): Diamond Trust Bank Uganda (DTBU) has named Godfrey Sebaana as its new CEO and Managing Director, effective April 2, 2024.
- [Stanbic declares UGX155 billion in dividends](https://businessedge.news/stanbic-declares-ugx155-billion-in-dividends/): Stanbic Uganda Holdings Ltd, the mother company of Stanbic Bank Uganda, have published their annual financial report for the year ended 2023, which has seen the Board of Directors recommending a payment of UGX155 billion in dividends to the company�s shareholders.
- [Kiira Motors seeks UGX524 billion to fund 5-year plan](https://businessedge.news/kiira-motors-seeks-ugx524-billion-to-fund-5-year-plan/): Kiira Motors Corporation, a budding indigenous vehicle building enterprise, has presented a UGX524 billion proposed business investment budget to the Presidential Affairs Committee of Parliament.  It was contained in the Ministerial Policy Statement, and Budget Estimates for the FY 2024/2025.
- [118 women chosen to be MTN service providers](https://businessedge.news/118-women-chosen-to-be-mtn-service-providers/): MTN Uganda has unveiled more than 100 women entrepreneurs who are to provide goods and services to the telecommunications giant, as a new initiative aimed at empowering and uplifting women-led businesses in the country.
- [Will Wagagai open gold wealth kitty to all citizens?](https://businessedge.news/will-wagagai-open-gold-wealth-kitty-to-all-citizens/): Uganda is supposedly on the brink of significant economic transformation with the imminent commencement of production at Wagagai gold mining and refining facility in Alupe, Busia District.
- [MTN injects UGX20m into Jinja skills institute](https://businessedge.news/mtn-injects-ugx20m-into-jinja-skills-institute/): In an ambitious effort to boost vocational training standards in Busoga and beyond, the MTN Foundation, MTN Uganda's philanthropic arm has donated state-of-the-art equipment to Heta Vocational Ground in Jinja City.
- [Optimism as African Free Trade Area plan gains momentum](https://businessedge.news/optimism-as-african-free-trade-area-plan-gains-momentum/): The African Union Assembly recently adopted key protocols and decisions affecting the African Continental Free Trade Area (AfCFTA), which included the first-ever Protocol on Women and Youth in Trade, Investment, Digital Trade as well as several rules of origin on clothing and certain automobile products.
- [Diamond Trust Bank, UAP in new partnership](https://businessedge.news/diamond-trust-bank-uap-in-new-partnership/): Diamond Trust Bank Uganda and UAP Old Mutual Insurance Uganda have entered a partnership to deliver general and life insurance products and services, which effectively makes the bank a one-stop centre for both banking and insurance services, aimed at drive insurance penetration and inclusion.
- [MTN scoops fastest internet award](https://businessedge.news/mtn-scoops-fastest-internet-award/): Ookla, the global leader in internet testing and analysis, has announced MTN Uganda as the Fastest Mobile Network.
- [Livelihoods at stake as poor regulation threatens Silverfish, Nile Perch](https://businessedge.news/livelihoods-at-stake-as-poor-regulation-threatens-silverfish-nile-perch/): Amidst the luminous waters of Uganda lies a precious resource that has sustained thousands of livelihoods over the years-silverfish (Rastrineobola argentea), locally known as Mukene. The small pelagic fish is deeply interwoven with the fabric of the nation's fisheries sub-sector.
- [MTN’s voice revenue rebounds amid data surge](https://businessedge.news/mtns-voice-revenue-rebounds-amid-data-surge/): MTN Uganda has posted impressive growth in voice revenue despite a surge in data demand among consumers. The telecom giant revealed that voice revenue experienced double-digit growth of 10%, fueled by increased adoption of attractive bundle offerings and aggressive subscriber growth initiatives, among other factors, which led to a significant increase in subscriber numbers, with 937,000 subscribers added to its subscriber base in the third quarter of the year alone.
- [Monzer named new MTN South Sudan boss](https://businessedge.news/monzer-named-new-mtn-south-sudan-boss/): The MTN Group has appointed Ali Monzer as Chief Executive Officer of MTN South Sudan, the country’s largest telecommunications company, effective April, 2024.
- [MTN Boosts Kajjansi skilling centre with UGX17m](https://businessedge.news/mtn-boosts-kajjansi-skilling-centre-with-ugx17m/): Five years ago, Ms Mariam Nakirijja, a community health worker, visited the Nottingham Trent University, one of the best multi-skilling institutions in England.
- [Semakula appointed SBG Securities boss](https://businessedge.news/semakula-appointed-sbg-securities-boss/): SBG Securities, a subsidiary of Stanbic Uganda Holdings, has named Grace Semakula as its new CEO, effective March 1.
- [MTN machines boost Sironko women](https://businessedge.news/mtn-machines-boost-sironko-women/): About nine years ago, Sandra Nakayenze launched Kalaa Mugoosi Women Empowerment, a social enterprise whose main objective was to empower the rural women of Sironko District in eastern Uganda, to add value to their coffee.
- [EU Parliament endorses Kenya trade agreement](https://businessedge.news/eu-parliament-endorses-kenya-trade-agreement/): The European Parliament has endorsed an Economic Partnership Agreement with Kenya, paving the way for duty-free and quota-free access to the lucrative EU market.
- [Creatives: Africans Sitting On Goldmine](https://businessedge.news/creatives-africans-sitting-on-goldmine/): The bustling main hall at Protea Hotel in Kololo is filled with passionate voices and determined spirits. As the sun rises over the vibrant cityscape, artists, filmmakers, musicians, and innovators have gathered to unravel the untapped potential of Uganda's rich cultural tapestry.  At the heart of the discussion lies a plea for recognition and support from the government. Amidst the throngs of creatives, one sentiment echoes loudly: "No one is thinking about us."
- [DTB, TerraPay ease money transfer](https://businessedge.news/dtb-terrapay-ease-money-transfer/): TerraPay, a top European money transfer company, and Diamond Trust Bank Uganda (DTB), have announced a strategic partnership to expand international money transfers and strengthen financial inclusion in Uganda.
- [Top NCBA clients to enjoy premier banking service](https://businessedge.news/top-ncba-clients-to-enjoy-premier-banking-service/): NCBA Bank Uganda has made waves in the banking sector with the unveiling of its revamped Premier Banking offering, given the array of exciting benefits and exclusive discounts for its esteemed clientele.
- [Boda Boda Industry Riding Uganda's Economy](https://businessedge.news/boda-boda-industry-riding-ugandas-economy/): Mr. Freddie Ssewankambo wakes up before dawn daily. He dresses up quickly, takes a cup of tea then kick-starts his Bajaj Boxer motorcycle and sets off from Mukono to join the thousands of boda boda riders on the streets of Kampala City.
- [Gov't signs $400m hydrogen fertilizer plant](https://businessedge.news/govt-signs-400m-hydrogen-fertilizer-plant/): The Government of Uganda has signed a joint agreement with the Aga Khan’s Industrial Promotion Services (IPS) and Westgass International to set up a green hydrogen fertiliser plant in Kiryandongo District.  Speaking at the signing ceremony, Energy and Mineral Resources Minister Ruth Nankabirwa, said the project seeks to increase the production of nitrogen fertiliser to about 200,000 tonnes annually. The plant is being set up in the context of the fact that agriculture, often hailed as the backbone of Uganda's economy, stands as a beacon of hope for economic growth and poverty reduction.
- [Importers decry low investment in railway](https://businessedge.news/importers-decry-low-investment-in-railway/): Steel and poly pipes manufacturer Roofings Group is one of the largest importers of raw materials and exporters of finished products in Uganda. The steel giant imports thousands of tonnes of steel raw materials for processing into various steel products such as bars, rods, iron sheets, wire mesh, and pipes among others, at its massive factories at Lubowa and Namanve in Kampala.
- [KACITA applauds new port payment system](https://businessedge.news/kacita-applauds-new-port-payment-system/): Ugandan traders under their umbrella body, the Kampala City Traders Association (KACITA), have applauded the Kenya Ports Authority (KPA) for introducing a new electronic payment system aimed at improving service delivery through instant settlement of port charges.
- [Swiss Investor, UWA Row Angers MPs](https://businessedge.news/swiss-investor-uwa-row-angers-mps/): Mr. Thomas Price, an investor in Butambala District, has appealed to Parliament to intervene in what he termed frustration from officials of the Uganda Wildlife Authority (UWA).
- [Local Firm to Spearhead Karuma Bridge Study](https://businessedge.news/local-firm-to-spearhead-karuma-bridge-study/): The Government has enlisted a local engineering firm to spearhead a comprehensive inspection study of the structural integrity and longevity of the Karuma Dam bridge.
- [MTN Uganda Named Best in Africa](https://businessedge.news/mtn-uganda-named-best-in-africa/): MTN Uganda has won a UGX380 million cash prize after being named the overall winner of the Group’s Yellow Care Campaign for 2023.
- [Financial Markets: Uganda Top In EAC](https://businessedge.news/financial-markets-uganda-top-in-eac/): Uganda has once again asserted its dominance in the East African financial landscape, with the latest Absa Africa Financial Markets Index, highlighting the country's remarkable growth trajectory.
- [140 to lose jobs as BoU revokes EFC's licence](https://businessedge.news/140-to-lose-jobs-as-bou-revokes-efcs-licence/): More than 140 employees of EFC Uganda Ltd, a microfinance deposit-taking institution, are sweating over their next move following a decision by Bank of Uganda to wind up the institution. The institution’s licence was revoked effective January 19, 2024.
- [President Museveni Takes Over Chairmanship Of G77 + China](https://businessedge.news/president-museveni-takes-over-chairmanship-of-g77-china/): Uganda has assumed the chairmanship of the Group of 77 plus China (G77+China).
- [Excitement as Nigeria's Dangote refinery starts production](https://businessedge.news/excitement-as-nigerias-dangote-refinery-starts-production/): The Dangote Oil Refinery, the largest on the continent at 650,000 barrels per day (bpd), has begun producing diesel and aviation fuel, the company said on January 13.
- [Crane Bank Sale: Top BoU, DFCU bosses face prosecution](https://businessedge.news/crane-bank-sale-top-bou-dfcu-bosses-face-prosecution/): The Supreme Court of the United Kingdom has blocked DFCU Bank’s attempt to sidestep the prosecution of its top bosses in a case where they are accused of fraudulently transacting in Crane Bank’s assets in collusion with officials of the Bank of Uganda.
- [Uganda Listed Among Top Kyeyo Cash Recipients](https://businessedge.news/uganda-listed-among-top-kyeyo-cash-recipients/): A new report by the World Bank has shown that Uganda is among the top ten recipients of money from nationals working abroad, commonly referred to as 'kyeyo' cash, in Sub-Saharan Africa.
- [Inside MTN Uganda's transition to a tech firm](https://businessedge.news/inside-mtn-ugandas-transition-to-a-tech-firm/): MTN Uganda, like most telecom companies around the world, has recorded rapid transformation in its operations, customer experience and development of various products and services aimed at responding to evolving consumer needs.
- [Dubai COP28 endorses new declaration, but with no crude oil exit plan](https://businessedge.news/dubai-cop28-endorses-new-declaration-but-with-no-crude-oil-exit-plan/): A new draft for the final declaration of the UN Climate Change Conference in Dubai does not include the clear phase-out of coal, oil and gas demanded by many countries.
- [Stanbic Uganda Holdings Gets New Boss](https://businessedge.news/stanbic-uganda-holdings-gets-new-boss/): Mr. Francis Karuhanga has been named the new Chief Executive Officer of Stanbic Holdings Uganda Ltd, replacing Andrew Mashanda, effective January 1, 2024.
- [Private sector involvement in youth skilling could boost employment](https://businessedge.news/private-sector-involvement-in-youth-skilling-could-boost-employment/): Uganda has one of the youngest populations in the world, with 78 per cent of its citizens under the age of 30. Such a high number is an opportunity for the country's growth but only when it is equipped with the right skills to realise its full potential.
- [Fintech industry stimulating local economies](https://businessedge.news/fintech-industry-stimulating-local-economies/): Uganda is embracing the digital age, and the fintech sector is growing rapidly, transforming how people access financial services. At the forefront of this change is MTN Mobile Money (U) Ltd (MTN MoMo), a leader in mobile financial services that is making it easier for Ugandans to engage with their finances.
- [National Mining Company Board inaugurated](https://businessedge.news/national-mining-company-board-inaugurated/): The Government has unveiled the Board of Directors for the National Mining Company (NMC) as part of the efforts to enhance its participation in the mining sector.
- [US election: Africa hoping for the better](https://businessedge.news/us-election-africa-hoping-for-the-better/): Voters in the United States today go to the polls to choose the 47th president of what is the world’s largest economic and military superpower, in an election that is not only tight in the US, but is also being closely watched around the world, including Africa.
- [EU to spend EUR3.4 bn on renewable energy push](https://businessedge.news/eu-to-spend-eur3-4-bn-on-renewable-energy-push/): The European Union (EU) has pledged EUR 150 billion (about UGX602 trillion) to support the energy transition in Sub-Saharan Africa over the next 15 years, as part of its Global Gateway strategy.
- [Dubai billionaire takes over Uganda Telecom Ltd](https://businessedge.news/dubai-billionaire-takes-over-uganda-telecom-ltd/): A multi-billion-dollar investor based in Dubai in the United Arab Emirates (UAE), has acquired a majority stake in the Uganda Telecommunications Corporation Limited (Utel) following the signing of an agreement with the Government of Uganda.
- [Ugandans give Kenya Ports Authority nod of approval](https://businessedge.news/ugandans-give-kenya-ports-authority-nod-of-approval/): The majority of Ugandan users of the Mombasa Port in Kenya are happy with the progress the Kenya Ports Authority (KPA) has made in making the clearance of cargo more efficient over the past years.
- [2024 coffee year earnings hit $1.4 bn record](https://businessedge.news/2024-coffee-year-earnings-hit-1-4-bn-record/): Uganda’s coffee sector has achieved a historic milestone, with export earnings reaching an unprecedented US$1.4 billion from 6.35 million 60-kg bags in the 2023/24 coffee year, which concluded on September 30.
- [10% of boda boda motorcycles now electric](https://businessedge.news/10-of-boda-boda-motorcycles-now-electric/): The adoption of electric motorcycles (EVs) in Uganda is gaining significant traction, particularly in the boda boda industry, which remains a vital source of livelihood for millions of Ugandans.
- [Optimism as Uganda nears full BRICS nod](https://businessedge.news/optimism-as-uganda-nears-full-brics-nod/): Uganda has become one of the two African countries that have been admitted into the BRICS alliance in the category of ‘partner states.’
- [Uganda reactivates 1963 trade deal with Serbia](https://businessedge.news/uganda-reactivates-1963-trade-deal-with-serbia/): A Ugandan delegation, led by Gen. Wilson Mbasu Mbadi, Minister of State for Trade, Industry, and Cooperatives, is in Serbia for the Joint Commission for Trade Cooperation session in the city of Niš.
- [Uganda gets positive IMF growth projection](https://businessedge.news/uganda-gets-positive-imf-growth-projection/): The International Monetary Fund (IMF) has painted a positive picture of Uganda’s economic growth prospects, posting a 5.9% growth projection, according to the latest World Economic Outlook report, which is above the average of 4.2% for Sub-Saharan Africa.
- [Only 13% of Ugandans use Internet for business](https://businessedge.news/only-13-of-ugandans-use-internet-for-business/): Just one out of every 100 Internet users in Uganda are utilizing it for business or work, the 2024 National Population & Housing Census has shown.
- [MTN earmarks UGX390 million for six schools](https://businessedge.news/mtn-earmarks-ugx390-million-for-six-schools/): MTN Uganda, through its corporate social responsibility arm, MTN Foundation, has earmarked UGX390 million to establish fully furnished computer labs in six educational and training institutions across the country.
- [Watu asks for better conditions for boda-boda riders](https://businessedge.news/watu-asks-for-better-conditions-for-boda-boda-riders/): Asset financiers, Watu Uganda, have called for a more balanced approach to managing the boda-boda industry amidst growing concerns over safety, pollution, and traffic congestion in the country. The company argues that while the boda-boda industry faces challenges, it remains pivotal to Uganda’s economy and transport network.
- [Optimism as national economy registers 6.6% growth](https://businessedge.news/optimism-as-national-economy-registers-6-6-growth/): Optimism as national economy registers 6.6% growth
- [World Standards Day: Entrepreneurs tipped on certification](https://businessedge.news/world-standards-day-entrepreneurs-tipped-on-certification/): As Uganda joins the global community in celebrating World Standards Day this October, Minister of Trade, Industry and Cooperatives Francis Mwebesa is urging stakeholders across all sectors to adopt and implement relevant standards.
- [Namibia to host Afreximbank Trade Finance event](https://businessedge.news/namibia-to-host-afreximbank-trade-finance-event/): The African Export-Import Bank (Afreximbank), a Pan-African multilateral trade finance institution that aims to promote and finance trade within Africa and between Africa and the rest of the world, is set to host its 2024 Trade Finance Seminar and Factoring Workshop in Windhoek, Namibia, from 5 - 8 November.
- [Oil pipeline: Court blocks land owners](https://businessedge.news/oil-pipeline-court-blocks-land-owners/): The Masaka Senior Resident Judge Lawrence Tweyanze has ruled that the government can proceed with the construction of East African Oil Pipeline (EACOP) before the affected landowners are compensated for their land.
- [Watu Uganda celebrates global service accolade](https://businessedge.news/watu-uganda-celebrates-global-service-accolade/): Watu Uganda, one of the country’s leading asset-financing companies, has been awarded the prestigious Client Protection Certification award.
- [BoU slashes key rate to 9.75% from 10.25%](https://businessedge.news/bou-slashes-key-rate-to-9-75-from-10-25/): The Monetary Policy Committee (MPC) of the Bank of Uganda has announced a significant reduction in the Central Bank Rate (CBR), lowering it by 25 basis points to 9.75%.
- [Bank loans grew by 6.8% in 2024, says BoU](https://businessedge.news/bank-loans-grew-by-6-8-in-2024-says-bou/): Commercial bank lending activities in Uganda have shown a robust increase, growing by 6.8% in the financial year ending June 2024, according to the Bank of Uganda.
- [Uganda, South Sudan moot joint dam projects](https://businessedge.news/uganda-south-sudan-moot-joint-dam-projects/): Pal Mai Deng, the South Sudanese minister of Water Resources and Irrigation, has submitted a memo to the Council of Ministers, aimed at implementing the Nyimur multi-purpose water and resource development project, a joint trans-boundary initiative aimed at providing water for irrigation and a power dam to serve both countries.
- [Government announces tough export rules to China](https://businessedge.news/government-announces-tough-export-rules-to-china/): The government has introduced stringent regulations that prospective Ugandan exporters must follow if their agricultural products are to be accepted in the lucrative Chinese market.
- [MTN Uganda top boss transferred to Rwanda](https://businessedge.news/mtn-uganda-top-boss-transferred-to-rwanda/): Somdev Sen, the MTN Uganda Chief Marketing Officer, has been transferred to MTN Rwanda where he will take on a new role as Chief Digital and Commercial Officer, effective October 14.
- [EADB gets positive credit ratings review](https://businessedge.news/eadb-gets-positive-credit-ratings-review/): The East African Development Bank's (EADB), the region’s premier development financial institution, has received positive credit results from a review of its credit ratings, raising hopes that borrowers would continue to borrow at more favourable interest rates.
- [Optimism as 600MW Karuma Dam is commissioned](https://businessedge.news/optimism-as-600mw-karuma-dam-is-commissioned/): The long-awaited 600MW Karuma Hydropower Dam has finally come online, raising hopes for a more industrialised and prosperous economy.
- [Charcoal hikes September inflation by 0.2%](https://businessedge.news/charcoal-hikes-september-inflation-by-0-2/): Uganda experienced a notable increase in inflation in September 2024, as headline inflation rate soared by 0.2%, consistent with the previous month.
- [Thousands throng Kapeeka Industrial Park Trade Fair](https://businessedge.news/thousands-throng-kapeeka-industrial-park-trade-fair/): President Yoweri Kaguta Museveni has urged communities surrounding Kapeeka Industrial Park to take full advantage of the opportunities it offers in order to market their products and boost their household incomes.
- [Museveni commissions Royal Milk factory](https://businessedge.news/museveni-commissions-royal-milk-factory/): Speaking at the commissioning of Royal Milk factory at Nalukolongo Industrial Park in Kampala recently, the President urged the proprietors to ensure value addition into powder milk for the lucrative export market.
- [EADB launches UGX68 bn fund for Ugandan SMEs](https://businessedge.news/eadb-launches-ugx68-bn-fund-for-ugandan-smes/): The East African Development Bank (EADB), the region’s leading development financial institution, has launched a new $15 million (about UGX68 billion) fund to support the growth of 1,500 rural-based Small and Medium Enterprises (SMEs) in Uganda.
- [Anxiety as donor aid taps shrink further](https://businessedge.news/anxiety-as-donor-aid-taps-shrink-further/): During the recent presentation of the Budget Strategy for the Financial Year 2025/2026, officials from the Ministry of Finance, Planning and Economic Development warned that dwindling external financing down by approximately 30% from UGX 4.4 trillion (about $1.2 billion) in 2022 to an estimated UGX3.1 trillion (about $840 million) in 2024, could derail the government’s ability to meet essential expenditures on time.
- [August coffee exports set new 838,000 bags record](https://businessedge.news/august-coffee-exports-set-new-838000-bags-record/): Uganda’s coffee industry soared to new heights in August 2024, earning UGX820 billion from exports, a testament to the country’s increasing prominence in the global coffee market.
- [Kazo school gets UGX65m MTN computer lab](https://businessedge.news/kazo-school-gets-ugx65m-mtn-computer-lab/): MTN Uganda, through its corporate social responsibility arm, MTN Foundation, has today enhanced the digital learning environment at St. Catherine Girls Secondary School in Kazo District, with the donation of a fully furnished computer laboratory valued at UGX65 million.
- [KK Security rebrands to GardaWorld Security](https://businessedge.news/kk-security-rebrands-to-gardaworld-security/): KK Security has officially transitioned to GardaWorld Security in Uganda, marking a significant shift that promises to enhance employment opportunities throughout the region.
- [DTB earmarks UGX400m for youth health initiative](https://businessedge.news/dtb-earmarks-ugx400m-for-youth-health-initiative/): The United Nations Population Fund (UNFPA) and Diamond Trust Bank (DTB) Uganda have signed a partnership worth USD106,458 (about UGX400 million) as a contribution to efforts aimed at reducing school absenteeism and improving menstrual hygiene for young girls in Uganda’s marginalized communities.
- [The Top 10 strongest currencies in 2024](https://businessedge.news/the-top-10-strongest-currencies-in-2024/): Globally, the United Nations recognizes 180 currencies as legal tenders. The factors that determine the strength of a currency include the amount of the currency held by other countries as foreign reserves, demand and supply in foreign exchange trading (buying and selling of currencies, in pairs, with the intention of making a profit), as well as international acceptability and purchasing power of the currency, among others. Here is the list of the top ten currencies in the world in 2024
- [IMF cautions Ugandan banks over treasury bonds](https://businessedge.news/imf-cautions-ugandan-banks-over-treasury-bonds/): In a new report, the International Monetary Fund (IMF) has warned commercial banks against overreliance on Government securities saying it raises serious financial concerns for the country’s economy.
- [URA exceeds August target by UGX27 billion](https://businessedge.news/ura-exceeds-august-target-by-ugx27-billion/): The Uganda Revenue Authority (URA) has reported an impressive performance for August, with revenue collections surpassing the set target.
- [2025/26 budget strategy to focus on four pivotal sectors](https://businessedge.news/2025-26-budget-strategy-to-focus-on-four-pivotal-sectors/): The Government is outlining an ambitious strategy for the 2025/2026 fiscal year, aimed at steering the country towards a fully monetized and formalized economy.
- [Uganda Airlines lands in Abuja, Nigeria](https://businessedge.news/uganda-airlines-lands-in-abuja-nigeria/): Uganda Airlines has made its maiden flight to Abuja, Nigeria, a significant milestone in the airline’s expansion plan, aimed at facilitating smoother travel across the African continent.
- [Local suppliers protest new grain policy](https://businessedge.news/local-suppliers-protest-new-grain-policy/): The government's decision to tighten grain procurement rules is stirring mixed reactions among suppliers. While the government says the new regulations aim to improve grain quality, some suppliers are concerned that the costs of meeting these new standards could put them out of business.
- [Amongi drops Dr. Kimbowa from NSSF Board](https://businessedge.news/amongi-drops-dr-kimbowa-from-nssf-board/): Gender, Labour and Social Development Minister Betty Amongi  has appointed David Ogong as the new chairperson of the new Board of Directors for the National Social Security Fund (NSSF), replacing Peter Kimbowa whose contract was not renewed.
- [Gov’t arrears threaten URA performance](https://businessedge.news/govaet-arrears-threaten-ura-performance/): Uganda's revenue collection is facing a serious threat from the growing backlog of government arrears, which is straining the Uganda Revenue Authority’s (URA) ability to meet its targets.
- [Dangote Refinery ousts first petroleum products](https://businessedge.news/dangote-refinery-ousts-first-petroleum-products/): Nigeria's Dangote Oil Refinery has begun processing gasoline after delays caused by recent crude shortages, an executive said on Monday.
- [Support beef value addition for export market](https://businessedge.news/support-beef-value-addition-for-export-market/): Uganda’s agricultural sector is experiencing an intense transformation, with the beef industry emerging as a pivotal force in this evolution.
- [Diamond Trust endorses UN responsible banking principles](https://businessedge.news/diamond-trust-endorses-un-responsible-banking-principles/): Diamond Trust Bank (DTB) has become the latest financial institution to sign the UN Principles for Responsible Banking, which aim to align the banking sector with the goals of the UN Sustainable Development Goals (SDGs) and the Paris Agreement on climate change.
- [UMA international trade fair set for October 2](https://businessedge.news/uma-international-trade-fair-set-for-october-2/): The Uganda Manufacturers Association (UMA) has officially launched the 30th Uganda International Trade Fair, set to take place from October 2 -10 at the UMA showgrounds at Lugogo, under the theme; "Celebrating 30 Years of Industrial Excellence."
- [Uganda extends oil exploration to Karamoja](https://businessedge.news/uganda-extends-oil-exploration-to-karamoja/): Uganda is stepping up exploration in the Moroto-Kadam and Lake Kyoga basins, aiming to boost its reserves to 6.5 billion barrels of oil, a strategic move to solidify its position in the energy industry.
- [UBOS reports rise in August inflation](https://businessedge.news/ubos-reports-rise-in-august-inflation/): The Uganda Bureau of Statistics (UBOS) has released the Consumer Price Indices and Inflation report for August 2024, highlighting a slight increase in monthly inflation and a noticeable rise in the prices of certain commodities, particularly mangoes and oranges.
- [Gov't bans purchase of uncertified grain products](https://businessedge.news/govt-bans-purchase-of-uncertified-grain-products/): Government Ministries, Departments, Agencies and institutions will not be permitted to purchase grain from uncertified suppliers, Evelyn Anite, the state minister for Investment and Privatization, has said.
- [MTN donates new car to single mother of five](https://businessedge.news/mtn-donates-new-car-to-single-mother-of-five/): True to her surname, which means ‘God has heard my prayers,’ Night Ampurire has been described by everyone as an extremely lucky woman.
- [aBi Trust gives UCDA UGX16 bn boost](https://businessedge.news/abi-trust-gives-ucda-ugx16-bn-boost/): As Uganda races to comply with the European Union's new sustainability regulations, a major financial commitment, the Agricultural Business Initiative (aBi) has pledged $4.3 million (about UGX16 billion) to support the registration of coffee farmers, a crucial step in meeting the European Union's Regulation for Deforestation-free Products (EUDR).
- [Ranches Finest commended on quality meat exports](https://businessedge.news/ranches-finest-commended-on-quality-meat-exports/): State Minister for Investment, Evelyne Anite, has commended Ranches Finest for its sustained production and export of high- quality beef products from Uganda to the global market.
- [Uganda fast-tracking oil refinery deal - Nankabirwa](https://businessedge.news/uganda-fast-tracking-oil-refinery-deal-nankabirwa/): The Ugandan government is accelerating negotiations with Alpha MBM Investments of the United Arab Emirates to finalize a landmark deal to build a 60,000 barrels-per-day oil refinery in western Uganda, seen as a crucial step in Uganda’s ambitions to become Africa’s newest oil producer.
- [Uganda Breweries invests UGX32 Bn on farmers](https://businessedge.news/uganda-breweries-invests-ugx32-bn-on-farmers/): Uganda Breweries Limited (UBL) has reported a 12% net sales growth in the last financial year, driven by the success of premium beer brands like Guinness and Uganda Waragi.
- [Optimism as July coffee exports top 800,000 bags](https://businessedge.news/optimism-as-july-coffee-exports-top-800000-bags/): Uganda's coffee exports have surged to new heights, signaling a robust boost to the nation’s economy and a promising future for farmers.
- [Stanbic Bank assets, net profits surge](https://businessedge.news/stanbic-bank-assets-net-profits-surge/): Stanbic Uganda Holdings Limited has announced a significant improvement in its financial performance, with total assets reaching UGX9.7 trillion, a 3.8% increase from UGX9.4 trillion the previous year.
- [Uganda, 15 countries set for electricity trade](https://businessedge.news/uganda-15-countries-set-for-electricity-trade/): The Eastern Africa Power Pool (EAPP), an intergovernmental organization that was established to promote and coordinate the development of a regional power grid interconnection and cross-border electricity trade in Eastern Africa, is set to operationalize a competitive regional power market next year, a move that is poised to significantly reduce energy poverty across the Eastern African region.
- [MTN hands over UGX100 million Kiteezi relief](https://businessedge.news/mtn-hands-over-ugx100-million-kiteezi-relief/): MTN Uganda and MTN MoMo Uganda Ltd, through the MTN Uganda Foundation, have made a donation of relief items valued at UGX100 million to support 200 families affected by the Kiteezi garbage landfill landslide in Kasangati Town Council, Wakiso District.
- [Digital skills for youth must be an urgent priority](https://businessedge.news/digital-skills-for-youth-must-be-an-urgent-priority/): "I can’t believe this is happening! We have computers now!" exclaimed Aisha Nakalema, a student at Bishop Dunstan Nsubuga Memorial School on Bugala Island, as we handed over 20 computers with free internet access to the institution. This was part of our 21 Days of Y’ello Care campaign, an annual staff voluntarism initiative held every June to give back to the communities that have supported MTN for years.
- [UGX500m MTN Changemakers 2nd phase launched](https://businessedge.news/ugx500m-mtn-changemakers-2nd-phase-launched/): MTN Uganda, through the MTN Foundation, has announced the launch of the second phase of the MTN Changemakers Initiative, a transformative program designed to drive positive social change across Uganda.
- [UK unveils UGX24 billion clean cooking initiative](https://businessedge.news/uk-unveils-ugx24-billion-clean-cooking-initiative/): The United Kingdom has launched an initiative aimed at revolutionizing Uganda’s cooking practices as part of an ambitious effort to transition 65% of Uganda’s population to cleaner cooking methods by 2030.
- [Optimism as Central Bank cuts key rate to 10%](https://businessedge.news/optimism-as-central-bank-cuts-key-rate-to-10/): The Bank of Uganda (BoU) has slashed the Central Bank Rate (CBR) by 25 basis points to 10%, a development that experts say would have significant implications for the banking sector and broader economic landscape in the country.
- [Top sponsors gang up for Ladies Open Tournament](https://businessedge.news/top-sponsors-gang-up-for-ladies-open-tournament/): NCBA Bank, Uganda Airlines, Uganda Breweries and Wandaz Products are some of the top corporate entities that have expressed interest in sponsoring the Uganda Golf Club Ladies Open Tournament, whose aim is to promote women’s golf in Uganda, provide competitive opportunities for female golfers, and foster a sense of community and sportsmanship.
- [MTN half-year net profits soar to UGX295 billion](https://businessedge.news/mtn-half-year-net-profits-soar-to-ugx295-billion/): MTN Uganda has announced a net profit of UGX295.7 billion for the half-year ended June 2024, driven by robust growth in voice, data, and fintech services.
- [Cabinet clears Malaba-Kampala SGR project](https://businessedge.news/cabinet-clears-malaba-kampala-sgr-project/): The vision of a modern and efficient railway network in East Africa is edging closer to reality as Uganda moves closer to the reality of its own Standard Gauge Railway (SGR) line from Malaba to Kampala.
- [EABC wants uniform Common External Tariffs](https://businessedge.news/eabc-wants-uniform-common-external-tariffs/): The East African Business Council (EABC) has urged regional governments of the East African Community (EAC) to uniformly apply the EAC Common External Tariff (CET) in a bid to boost intra-EAC trade, investment, and regional value chains.
- [West Nile gets first National Grid connection](https://businessedge.news/west-nile-gets-first-national-grid-connection/): The recent inauguration of the Kole-Gulu-Nebbi-Arua Transmission line by President Yoweri Kaguta Museveni marks a pivotal moment for the West Nile sub-region. This 132KV power line, worth a total investment of USD100 million (UGX 370 billion), connects the region to the national power grid for the first time since 2003.
- [Inflation hits highest level in 12 months](https://businessedge.news/inflation-hits-highest-level-in-12-months/): High cabbage, fish and Irish potatoes prices were the primary drivers of the 4% annual inflation in July, the Uganda Bureau of Statistics (UBOS) has indicated as per the July Consumer Price Index (CPI).
- [Uganda nets UGX 80 billion from visa fees](https://businessedge.news/uganda-nets-ugx-80-billion-from-visa-fees/): The Directorate of Citizenship and Immigration Control (DCIC) has reported a substantial increase in revenue from visa visa fees for the 2023/2024 fiscal year, totalling over UGX80 billion, up from UGX45 billion in the previous year.
- [Uganda, Kenya moot petrol pipeline plan revival](https://businessedge.news/uganda-kenya-moot-petrol-pipeline-plan-revival/): Regional counterparts Uganda and Kenya are set to revive a long-standing plan to construct a pipeline that will enhance the transportation of fuel between the two countries. The project, initially proposed in 1995, aims to establish a pipeline from Eldoret in western Kenya to Kampala in Uganda, with potential extensions to Rwanda and Burundi.
- [TotalEnergies acquires stake in Bujagali Power Dam](https://businessedge.news/totalenergies-acquires-stake-in-bujagali-power-dam/): French energy giant TotalEnergies has signed an agreement with Scatec, a Norwegian renewable energy company, to acquire 100% of its subsidiary, SN Power.
- [Concern over fewer girls in vocational institutions](https://businessedge.news/concern-over-fewer-girls-in-vocational-institutions/): The low enrolment and completion rates for girls in Uganda’s Technical Vocational Education and Training (TVET) programmes should be a serious concern for policy makers and implementers, according to a new report.
- [Embassy of Norway to officially close next week](https://businessedge.news/embassy-of-norway-to-officially-close-next-week/): Ugandans are set to feel the pinch as of lost jobs and business services as the Norwegian Embassy in Kampala officially closes its doors next week on July 31.
- [Optimism as COMESA-EAC-SADC free trade area starts](https://businessedge.news/optimism-as-comesa-eac-sadc-free-trade-area-starts/): The COMESA-EAC-SADC Tripartite Free Trade Area (TFTA) Agreement officially came into force following ratification by the requisite number of member States.
- [UDB registers UGX 50 billion profits](https://businessedge.news/udb-registers-ugx-50-billion-profits/): The Uganda Development Bank (UDB) has announced its 2023 annual performance report, highlighting its continued role in fostering economic resilience and sustainable growth in Uganda.
- [Global electricity demand set to soar in 2024/2025](https://businessedge.news/global-electricity-demand-set-to-soar-in-2024-2025/): The world’s demand for electricity is rising at its fastest rate in years, driven by robust economic growth, intense heatwaves, and increasing uptake of technologies that run on electricity such as Electric vehicles and heat pumps. Despite the enduring impacts of the global energy crisis, growth in electricity  demand has remained robust in the first half of 2024.
- [Oil refinery deal awaiting FID, says Minister](https://businessedge.news/oil-refinery-deal-awaiting-fid-says-minister/): Ugandans seeking employment in the oil refinery in the Albertine Graben need to be patient as the negotiations go on, Hon. Okasaai Opolot, the State Minister for Energy, has said.
- [DTB plants UGX90m in Kasonke Forest Reserve](https://businessedge.news/dtb-plants-ugx90m-in-kasonke-forest-reserve/): Diamond Trust Bank Uganda has entered a partnership with the National Forestry Authority to restore degraded parts of Kasonke Central Forest Reserve.
- [MTN gives Nawansega hospital UGX58m injection](https://businessedge.news/mtn-gives-nawansega-hospital-ugx58m-injection/): MTN Uganda, through its philanthropic arm, MTN Foundation, has reaffirmed its commitment to improving healthcare access in Uganda with a significant donation valued at more than UGX58 million to Nawansega Health Centre III in Luuka District, in Eastern Uganda.
- [Stanbic Business Incubator gets new boss](https://businessedge.news/stanbic-business-incubator-gets-new-boss/): Stanbic Holdings Uganda Ltd has announced the appointment of Catherine Poran as the Chief Executive Officer of Stanbic Business Incubator.
- [Turkish, Chinese investors in trouble over wetlands](https://businessedge.news/turkish-chinese-investors-in-trouble-over-wetlands/): The Standards Utilities and Wildlife Court has sentenced Kerim Ray, a Turkish investor and  Director of Yamani Construction Limited, to pay a fine of  UGX200 million, following his conviction for degrading a wetland in Mukono District.
- [Uganda Airlines starts flights to Zambia, Zimbabwe](https://businessedge.news/uganda-airlines-starts-flights-to-zambia-zimbabwe/): Effective this September, Uganda Airlines will start flying to two more African countries, following the announcement of flights to Harare in Zimbabwe and Lusaka in Zambia, thus bringing the airline’s total routes to 16.
- [IMF projects modest global growth amid persistent inflation](https://businessedge.news/imf-projects-modest-global-growth-amid-persistent-inflation/): The International Monetary Fund (IMF) has projected modest global economic growth over the next two years, driven by various regional dynamics, but cautioned about numerous risks that could derail this path.
- [Uganda boosts diplomatic, trade ties with France](https://businessedge.news/uganda-boosts-diplomatic-trade-ties-with-france/): The Deputy Speaker of Parliament, Thomas Tayebwa, has hailed the cooperation between Uganda and France in the areas of trade, investment and diplomatic relations as a formidable uniting factor that ought to be fostered for further growth.
- [Mixed reactions as Bank of Uganda goes for gold](https://businessedge.news/mixed-reactions-as-bank-of-uganda-goes-for-gold/): The Bank of Uganda (BoU) says it is set to start buying gold from the local market, amid concern over the ramifications on the economy given the country’s unregulated or non-transparent market environment.
- [‘Uncle Money’ wins MTN’s cheer-leader money](https://businessedge.news/ae%cb%9cuncle-moneyae-wins-mtnaes-cheer-leader-money/): Team Uncle Money has been declared winners of MTN’s official Uganda Cranes Cheerleaders competition dubbed ‘Tulage faaya.’
- [Spiro unveils UGX3.8 million electric motorcycle](https://businessedge.news/spiro-unveils-ugx3-8-million-electric-motorcycle/): Spiro, a leading electric motorbike manufacturer and clean energy provider in Africa, has launched its electric motorcycles on the Ugandan market.
- [Consolidate cross-border collaboration, regional bankers told](https://businessedge.news/consolidate-cross-border-collaboration-regional-bankers-told/): Stakeholders in the banking industry in the East African Region have been urged to find ways of working together more closely in a bid to strengthen their regional economies.
- [Huawei to set up Digital Village Prototype in Butaleja](https://businessedge.news/huawei-to-set-up-digital-village-prototype-in-butaleja/): President Yoweri Kaguta Museveni has held a meeting with a delegation from Huawei Technologies, at which the company announced plans to establish the country’s first Digital Village Prototype.
- [Planning Authority warns on surging population](https://businessedge.news/planning-authority-warns-on-surging-population/): The National Planning Authority has expressed concern about Uganda’s population, which has surged by 11.3 million since the last census.
- [Insurance industry premiums top UGX1.6 trillion](https://businessedge.news/insurance-industry-premiums-top-ugx1-6-trillion/): The Ugandan insurance sector displayed remarkable resilience and growth in 2023, with Gross Written Premiums (GWP) increasing by 11.3% to reach UGX1.6 trillion year-on-year. This performance, highlighted by the new Insurance Regulatory Authority (IRA) report, highlights the sector's strength and strategic advancement.
- [EU, Enabel boost refugees with vocational skills](https://businessedge.news/eu-enabel-boost-refugees-with-vocational-skills/): More than 5,000 youth in refugee communities in the West Nile Region have been passed out after receiving vocational skills aimed at boosting their self-employment opportunities and household incomes.
- [Museveni sets up outfit to fight URA corruption](https://businessedge.news/museveni-sets-up-outfit-to-fight-ura-corruption/): President Yoweri Museveni has set up a new unit at State House, aimed at keeping an eye on Uganda Revenue Authority and curb corruption in the tax administration system.
- [MTN pays UGX40bn NSSF dividends as Fund surpasses targets](https://businessedge.news/mtn-pays-ugx40bn-nssf-dividends-as-fund-surpasses-targets/): The National Social Security (NSSF) says it ended the financial year 2023/2024 on a good note having surpassed the targets.
- [NCBA Bank commits millions to central forests restoration](https://businessedge.news/ncba-bank-commits-millions-to-central-forests-restoration/): NCBA Bank Uganda, in collaboration with the National Forestry Authority (NFA), has embarked on the restoration of degraded forests across the country.
- [Aviation sector soars above pre-COVID numbers](https://businessedge.news/aviation-sector-soars-above-pre-covid-numbers/): Uganda’s aviation sector put up a resilient fight in 2023, registering a goodly comeback from the pandemic fall, which saw the global aviation industry bleed profusely.
- [Climate Change Crisis: Is Government really serious?](https://businessedge.news/climate-change-crisis-is-government-really-serious/): On June 13, Hon. Matia Kasaija, the Minister of Finance, Planning and Economic Development, delivered the budget speech for the financial year 2024/25 under the theme; ‘Full Monetisation of Uganda’s Economy through Commercial Agriculture, Industrialisation, Expanding and Broadening Services, Digital Transformation and Market Access.’
- [Stanbic unveils unit trust investment option](https://businessedge.news/stanbic-unveils-unit-trust-investment-option/): Stanbic Uganda Holdings Ltd, the mother company of SBG Securities Ltd, has unveiled its unit trust, aimed at enabling individuals and companies to pool their money to create a large fund that generates daily income.
- [New MTN’s Zimba initiative to boost small businesses](https://businessedge.news/new-mtnaes-zimba-initiative-to-boost-small-businesses/): MTN MoMo has launched a new initiative designed to empower small and medium-sized enterprises (SMEs) across Uganda.
- [MTN subsidiary unveils railway internet cable](https://businessedge.news/mtn-subsidiary-unveils-railway-internet-cable/): Bayobab Uganda, an MTN Group subsidiary, has unveiled its newest, shortest and fastest fibre optic route - from Malaba to Kampala, marking a significant expansion of digital infrastructure along the East African corridor.
- [I&M Bank sees UGX20 billion profit in 2024](https://businessedge.news/im-bank-sees-ugx20-billion-profit-in-2024/): I&M Bank Uganda has demonstrated impressive financial performance for the year ending December 31, 2024, with notable growth across all critical financial indicators, including net profit, assets, revenue, loans and advances, customer deposits, and shareholders' equity.
- [Judge acquits ThreeWays bosses over MTN's UGX14 bn theft](https://businessedge.news/judge-acquits-threeways-bosses-over-mtns-ugx14-bn-theft/): In a ruling that has sent shivers through Uganda’s corporate and legal circles, Justice Lawrence Gidudu of the Anti-Corruption Court has acquitted two directors of ThreeWays Shipping Company who were charged with siphoning $3.8 million (about UGX14 billion) from MTN Uganda’s bank accounts.
- [UGX6.7 trillion earned from coffee exports in 12 months](https://businessedge.news/ugx6-7-trillion-earned-from-coffee-exports-in-12-months/): Uganda has recorded its highest-ever annual revenue from coffee exports, earning UGX6.7 trillion (US$1.84 billion) from 6.87 million 60-kilogram bags between April 2024 and March 2025.
- [Time to walk the talk about internet access](https://businessedge.news/time-to-walk-the-talk-about-internet-access/): Last week, I revisited Uganda’s National Broadband Policy of 2018—and what I found was a compelling vision still waiting to be fully realised.
- [Mbuya organization gets $65m boost from MTN](https://businessedge.news/mbuya-organization-gets-65m-boost-from-mtn/): MTN Uganda’s corporate social responsibility arm, MTN Foundation, has handed over a state-of-the-art computer lab to the Code Compass Foundation in Mbuya, Nakawa Division, as part of its ongoing effort to bridge the digital divide through its Digital Access Program.
- [Finance Trust Bank profits surge to UGX10 billion](https://businessedge.news/finance-trust-bank-profits-surge-to-ugx10-billion/): Finance Trust Bank (FTB) has demonstrated a compelling financial performance in 2024, reporting an exceptional 178% surge in after-tax profits, climbing to UGX 10.36 billion from UGX 3.73 billion in the preceding year.
- [Gov’t, bankers gang up to combat financial cybercrimes](https://businessedge.news/govaet-bankers-gang-up-to-combat-financial-cybercrimes/): The Uganda Bankers Association (UBA) has established the Financial Sector Anti-Fraud Consortium, a collaborative initiative designed to proactively address the escalating threat of financial cybercrime.
- [Foreign currency turnover tops UGX17.82 tn – BoU](https://businessedge.news/foreign-currency-turnover-tops-ugx17-82-tn-ae-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 role of this non-bank financial segment in facilitating trade, household welfare, and economic resilience.
- [Revenue from international tourists up by 25%](https://businessedge.news/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 trillion a year earlier.
- [Gov’t warned on electricity finance bottlenecks](https://businessedge.news/govaet-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 Energy, has said.
- [Old Mutual, Airtel launch insurance payment plan](https://businessedge.news/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 Mutual customers can make instant and secure premium payments via Airtel Money.
- [Fort Portal gets new boda boda training school](https://businessedge.news/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](https://businessedge.news/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](https://businessedge.news/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 injection represents about 25.6% of the revised national budget.
- [Uganda Clays reports another UGX5 bn loss](https://businessedge.news/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 ending December 31, 2024 nearly doubling its previous year’s shortfall of UGX2.85 billion.
- [Uganda Breweries gives Rotary UGX100 million boost](https://businessedge.news/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 District 9213 Conference.
- [Money laundering, financial crime worries regional States](https://businessedge.news/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 terrorism financing, emphasizing that the stakes are far higher than mere financial compliance.
- [Stock exchange suspends Umeme share trading](https://businessedge.news/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 transfer of electricity distribution to the Government of Uganda.
- [‘First oil’ on course as EACOP gets $2.5 bn loan](https://businessedge.news/ae%cb%9cfirst-oilae-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, has announced that it has closed the first tranche of external financing for the project, provided by a syndicate of financial institutions including regional banks such as African Export Import Bank (Afreximbank), the Standard Bank of South Africa Limited, Stanbic Bank Uganda Limited, KCB Bank Uganda and The Islamic Corporation for the Development of the Private Sector (ICD).
- [Stanbic records UGX478 billion profit in 2024](https://businessedge.news/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 (PAT) of UGX 478 billion.
- [MTN boosts Soroti school with UGX320m donation](https://businessedge.news/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 School in Ocokican Sub-County, Soroti District, in Eastern Uganda.
- [Uganda Airlines launches direct flights to UK](https://businessedge.news/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 global connectivity.
- [Row over Umeme transition, compensation cash](https://businessedge.news/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](https://businessedge.news/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](https://businessedge.news/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 Municipality, Kampala.
- [Over 280 graduate after digital, technical training](https://businessedge.news/over-280-graduate-after-digital-technical-training/): When Janat Nalwoga completed her Senior Four exams in 2022, she faced an uncertain future. With her father unable to work due to deteriorating eyesight, continuing her education seemed like an impossible dream.
- [France offers UGX 340 billion for clean water](https://businessedge.news/france-offers-ugx-340-billion-for-clean-water/): Uganda has secured €85 million (about UGX 340 billion) from the Government of France to enhance water infrastructure and urban development in the Greater Kampala Metropolitan Area (GKMA).
- [Ministry’s UGX2 tn deficit threatens contracts](https://businessedge.news/ministryaes-ugx2-tn-deficit-threatens-contracts/): The Ministry of Energy and Mineral Development (MEMD) is grappling with a UGX1.95 trillion budget shortfall for the Financial Year 2025/26, raising concerns over the completion of key energy projects and contractual obligations.
- [UNBS gets UGX5.5 bn for agri-biz standards](https://businessedge.news/unbs-gets-ugx5-5-bn-for-agri-biz-standards/): The Uganda National Bureau of Standards (UNBS) has secured UGX 5.5 billion (USD 1.5 million) from TradeMark Africa (TMA) to enhance the standardization of agro-industrial products by Micro, Small, and Medium Enterprises (MSMEs).
- [Women using boda loans to acquire wealth](https://businessedge.news/women-using-boda-loans-to-acquire-wealth/): Countrywide, boda bodas have become an essential part of urban transportation, driving daily commutes and fueling economic activity. However, what was once a typically male-dominated industry is now undergoing a remarkable transformation, with women who once hesitated to join the trade, steering their way toward financial independence, thanks to the rise of motorcycle asset financing.
- [Business sector rebounds in February - Stanbic report](https://businessedge.news/business-sector-rebounds-in-february-stanbic-report/): Uganda's private sector showed signs of recovery in February, after a temporary slowdown at the start of the year, the Stanbic Bank Purchasing Managers’ Index (PMI) has shown.
- [Youth NGO gets UGX20m ICT grant from MTN](https://businessedge.news/youth-ngo-gets-ugx20m-ict-grant-from-mtn/): In a bold step towards bridging the digital divide, MTN Uganda has provided ICT equipment worth UGX 20 million to the 40 Days Over 40 Smiles Foundation., a youth development focused  local NGO.
- [Expert warns as February inflation rate doubles](https://businessedge.news/expert-warns-as-february-inflation-rate-doubles/): Uganda’s monthly headline inflation surged to 0.6% in February 2025, doubling from 0.3% in January, according to the latest data from the Uganda Bureau of Statistics (UBOS). The increase was primarily driven by rising prices of key food items, including tomatoes and fresh leafy vegetables.
- [MTN nets UGX641.5bn profit in ‘landmark year’](https://businessedge.news/mtn-nets-ugx641-5bn-profit-in-ae%cb%9clandmark-yearae/): In what CEO Sylvia Mlinge describes as a “landmark year for MTN Uganda,” the telecommunications giant recorded significant gains across all areas of its business amidst a dynamic operating environment.
- [African leather designers to compete for top honors](https://businessedge.news/african-leather-designers-to-compete-for-top-honors/): Entries are now open for the Africa Talent Leather Design competition —a premier platform for Africa’s designers to showcase their creativity in leather products design and commitment to sustainable fashion.
- [Mbarara school gets UGX70m MTN computer grant](https://businessedge.news/mbarara-school-gets-ugx70m-mtn-computer-grant/): MTN Uganda, through its MTN Foundation, has donated a fully equipped computer laboratory to Revival Girls High School in Mbarara City, as part of its digital transformation agenda.
- [Coffee, minerals spur Uganda’s exports in December](https://businessedge.news/coffee-minerals-spur-ugandaaes-exports-in-december/): Uganda’s export sector recorded impressive growth in December 2024, with merchandise exports increasing by about 14% according to the January 2025 Performance of the Economy Report released by the Ministry of Finance, Planning and Economic Development.
- [GROW: Low funds uptake irks Auditor General](https://businessedge.news/grow-low-funds-uptake-irks-auditor-general/): The Auditor General has raised concerns about the Generating Growth Opportunities and Productivity for Women Enterprises (GROW) project, a key initiative aimed at empowering women entrepreneurs, which he says has recorded a low uptake of funds.
- [New URSB initiative to improve business survival](https://businessedge.news/new-ursb-initiative-to-improve-business-survival/): The Uganda Registration Services Bureau (URSB) has launched an initiative whose objective is to equip entrepreneurs and corporate entities with essential skills in financial literacy, corporate governance, and business management to enhance business sustainability.
- [Makerere launches agricultural research facility](https://businessedge.news/makerere-launches-agricultural-research-facility/): Makerere University’s College of Agricultural and Environmental Sciences has launched a facility dubbed the Agricultural Policy Research Center with the aim of bridging the critical gap between research and policy, ensuring that agricultural policies are informed by research and to provide objective, evidence-based solutions to the challenges within Uganda’s agricultural sector.
- [Digital literacy plan in schools gets MTN boost](https://businessedge.news/digital-literacy-plan-in-schools-gets-mtn-boost/): MTN Uganda, through its philanthropic arm, MTN Foundation, is stepping up its digital literacy efforts, reinforcing its role in bridging the country’s digital divide.
- [URA sees 10% reduction in tax objection cases](https://businessedge.news/ura-sees-10-reduction-in-tax-objection-cases/): The Uganda Revenue Authority (URA) has reported a 10% decline in tax objections filed during the 2023/2024 financial year - reducing from 45% to 35%.
- [Government woos French investors to Uganda](https://businessedge.news/government-woos-french-investors-to-uganda/): Uganda’s Permanent Secretary and Secretary to the Treasury, Ramathan Ggoobi, has invited French investors to explore Uganda’s lucrative business environment, emphasizing the country's generous incentives and high return on investment.
- [Watu unlocking livelihoods with electric bodas](https://businessedge.news/watu-unlocking-livelihoods-with-electric-bodas/): Musa Lukwago, a resident of Kyengera on the outskirts of Kampala, started his delivery business in 2016. For a while, business was good—until he began receiving orders that required him to have a reliable means of transport.
- [WWF gives women UGX300m anti-climate change boost](https://businessedge.news/wwf-gives-women-ugx300m-anti-climate-change-boost/): Western Uganda has increasingly faced the devastating effects of climate change, with prolonged droughts, unpredictable rainfall, and floods threatening agriculture, biodiversity, and livelihoods.
- [Soroti blind kids get hi-tech MTN computer lab](https://businessedge.news/soroti-blind-kids-get-hi-tech-mtn-computer-lab/): MTN Uganda, through its MTN Foundation, in partnership with Sense International Uganda, has handed over a fully equipped computer laboratory to St. Francis Primary School for the Blind in Soroti, in a generous move aimed at enhancing digital inclusion for learners with disabilities.
- [Agro-tourism set to boost visitor numbers, revenue](https://businessedge.news/agro-tourism-set-to-boost-visitor-numbers-revenue/): Agri-tourism, the  type of tourism that combines agriculture and tourism, is emerging as a key frontier to diversify Uganda’s tourism industry beyond traditional wildlife safaris and cultural tours, with experts projecting it could contribute at least UGX 500 billion ($135 million) to national revenue by 2030.
- [Austrian firm moots $500m carbon market deal](https://businessedge.news/austrian-firm-moots-500m-carbon-market-deal/): President Yoweri Museveni has reaffirmed Uganda’s commitment to leveraging its vast natural resources to tap into the global carbon market.
- [Atingi-Ego appointed Mutebile successor at BoU](https://businessedge.news/atingi-ego-appointed-mutebile-successor-at-bou/): President Yoweri Museveni has appointed Dr. Michael Atingi-Ego as the substantive Governor of the Bank of Uganda (BoU), replacing the late Tumusiime Mutebile.
- [Boda loans transforming Uganda’s livelihoods](https://businessedge.news/boda-loans-transforming-ugandaaes-livelihoods/): When Andrew Mujuni lost his job as a security guard, his world turned upside down. After eight years of dedicated service, he was suddenly retrenched without warning.
- [Farmers cry out as UCDA demise blunts coffee aroma](https://businessedge.news/farmers-cry-out-as-ucda-demise-blunts-coffee-aroma/): When Robert Kabushenga quit his posh CEO job at Vision Group to focus on his Rugyeyo Farm, he thought he would become a living example of how coffee farming can be more lucrative than one of the fattest salaries in the country.
- [Western Uganda gets nine power generation plants](https://businessedge.news/western-uganda-gets-nine-power-generation-plants/): The Government of Uganda, in partnership with the Uganda Energy Credit Capitalization Company (UECCC), has launched the construction of nine mini hydropower plants with a combined capacity of 6.7MW in western Uganda.
- [DTB, Archbishop team up for Kabaka health initiative](https://businessedge.news/dtb-archbishop-team-up-for-kabaka-health-initiative/): The Archbishop of Kampala, Paul Ssemwogerere, has praised Kabaka Ronald Mutebi’s initiative to provide healthcare services to his people through the ‘Tubeere Balamu’ (Let's Live) community outreach program.
- [MTN earmarks UGX370 billion for network expansion](https://businessedge.news/mtn-earmarks-ugx370-billion-for-network-expansion/): Telecommunications giant MTN Uganda has earmarked $100m (about UGX370) for investment in the Ugandan market. Speaking to journalists at their offices in Kampala, Sylvia Mlinge, the MTN Uganda CEO, said the capital expenditure would fund their infrastructure expansion programme countrywide aimed at driving their digital transformation agenda.
- [December coffee export value tops UGX424 billion](https://businessedge.news/december-coffee-export-value-tops-ugx424-billion/): Uganda continues to cement its position as a key player in the global coffee market, earning UGX424 billion (US$ 115.03 million) from coffee exports in December 2024.
- [Umeme Exit: Regulator predicts lower prices](https://businessedge.news/umeme-exit-regulator-predicts-lower-prices/): Electricity Regulatory Authority (ERA) boss Ziria Tibalwa Waako, has predicted a potential 10% reduction in electricity tariffs when the Uganda Electricity Distribution Company Ltd (UEDCL) eventually takes over of the electricity distribution network from Umeme Ltd.
- [Regional financer boosts Purifaaya water filter maker](https://businessedge.news/regional-financer-boosts-purifaaya-water-filter-maker/): DOB Equity, an investment fund based in Kenya, has announced that it will provide funding to Spouts International, a company enabling access to clean water through its locally-manufactured ceramic water filters under the brand name Purifaaya.
- [Saudi Arabia’s Flynas launches flights to Uganda](https://businessedge.news/saudi-arabiaaes-flynas-launches-flights-to-uganda/): Flynas, a popular Saudi Arabian low-cost airline, has inaugurated its flights from Riyadh to Entebbe International Airport.
- [Debt Crisis: Experts want urgent reforms](https://businessedge.news/debt-crisis-experts-want-urgent-reforms/): Standing at UG 96.1 trillion ($25.3 billion) as of June 2023, Uganda’s debt burden is approximately 52% of the country’s GDP. This debt comprises UGX 44.6 trillion in domestic debt and UGX 52.8 trillion in foreign debt. In his latest annual report, the Auditor General highlights the growing challenge, and more so given that an additional UGX 7 trillion in loans awaits approval from Parliament.
- [Museveni woos Arab Emirates investors to Uganda](https://businessedge.news/museveni-woos-arab-emirates-investors-to-uganda/): President Yoweri Kaguta Museveni has extended a call to global investors, particularly those in the United Arab Emirates (UAE), to seize lucrative opportunities in Uganda by investing in the country.
- [What President Museveni said in Abu Dhabi](https://businessedge.news/what-president-museveni-said-in-abu-dhabi/): President Museveni has been in Abu Dhabi for the Sustainability Week 2025. This is an abridged version of his speech at the event.
- [UGX20 Billion squandered in pension scam](https://businessedge.news/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 UGX 20 billion in overpayments to beneficiaries.
- [Agriculture: Africa Union’s urgent call to action](https://businessedge.news/agriculture-africa-unionaes-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 sector from its current state of underdevelopment to a global leader in food production.
- [Algeria eyes Uganda’s coffee, dairy products](https://businessedge.news/algeria-eyes-ugandaaes-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 between President Yoweri Kaguta Museveni and Algeria’s Minister of Agriculture and Rural Development, Youcef Cherfa, discussions focused on boosting exports of coffee and milk while exploring imports of Algerian products, signalling a new chapter in Uganda-Algeria economic relations.
- [Phone asset finance fueling 4G/5G Internet access](https://businessedge.news/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 buy a good phone on loan through asset financing. But on doing the calculations, he found out that the phone costing about UGX1 million with cash would cost about UGX300,000 more because of the interest. He almost thought of opting out of the deal.
- [Government cuts power tariffs but doubts persist](https://businessedge.news/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. The move, according to ERA Chief Executive Officer Ziria Tibalwa Waako, aims to make electricity more affordable for consumers while maintaining the long-term viability of the energy sector.
- [75% of Ugandans survive on wages - report](https://businessedge.news/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% rely on wages or subsistence farming.
- [Uganda now officially BRICS partner country](https://businessedge.news/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 financial system.
- [MTN MOMO achieves 100% growth in mobile loans](https://businessedge.news/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](https://businessedge.news/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 September.
- [Kenyan envoy hails economic diplomacy, cooperation](https://businessedge.news/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 to mutual progress.
- [Top banker Kalifungwa quits ABSA for Stanbic](https://businessedge.news/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](https://businessedge.news/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 initiative next year.
- [Bank of Uganda denies complicity in $15m theft](https://businessedge.news/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 and Japan.
- [Credit financing boosting smartphone access](https://businessedge.news/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 and businesses to participate in the connected economy.
- [BoU to review StanChart’s exit plan from Uganda](https://businessedge.news/bou-to-review-stanchartaes-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 Uganda.
- [Mediage PR sweeps public relations accolades](https://businessedge.news/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 agency’s impressive streak continued as it also scooped two additional awards at the Public Relations Association of Uganda (PRAU) Excellence Awards gala in Kampala on November 29: Corporate Communication Campaign of the Year and Overall PR Campaign of the Year. The accolades have further underscored the agency’s ability to deliver impactful, creative, and results-driven communication strategies that resonate with clients and stakeholders. John Chihi, the Mediage PR Lead Consultant, attributed the success to […]
- [WTO boss Ngozi Okonjo-Iweala given second term](https://businessedge.news/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](https://businessedge.news/watu-opens-ugandaaes-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 motorcycle riding school in Kampala.
- [Starlink internet launch pushed to 2025](https://businessedge.news/starlink-internet-launch-pushed-to-2025/): US telecommunications giant Starlink’s launch in Uganda has been postponed to 2025.
- [MTN leading way to cashless economy](https://businessedge.news/mtn-leading-way-to-cashless-economy/): In many developed countries, mobile payments, e-wallets and debit/credit cards, are now the most commonly used payment methods.
- [Exports slump as coffee crisis bites](https://businessedge.news/exports-slump-as-coffee-crisis-bites/): A new report by the Ministry of Finance, Planning and Economic Development has indicated that Uganda’s export earnings dropped by UGX 410.4 billion in September.
- [Gov’t launches Buyende nuclear resettlement plan](https://businessedge.news/govaet-launches-buyende-nuclear-resettlement-plan/): The government has officially launched a Resettlement Action Plan (RAP) to facilitate the construction of the country’s first nuclear power plant in Buyende District.
- [Zero dividends as Vision Group losses worsen](https://businessedge.news/zero-dividends-as-vision-group-losses-worsen/): Uganda’s largest media house, New Vision Printing and Publishing Corporation, has reported a further decline in its financial performance for the year ending June 2024, extending its loss-making streak for the fourth consecutive year.
- [MTN, Mastercard launch e-commerce platform](https://businessedge.news/mtn-mastercard-launch-e-commerce-platform/): In another first, MTN Uganda has become the first subsidiary of the MTN Group to launch an e-commerce platform, aimed at giving Ugandans a seamless online selling and shopping experience.
- [MTN Uganda staff release 'Sunny Days' song](https://businessedge.news/mtn-uganda-staff-release-sunny-days-song/): In a bid to use music as a catalyst for positive energy at the workplace, MTN Uganda has released “Sunny Days”, a lively tune created by MTN Uganda employees under the MTN Got Talent program.
- [Uganda among top 20 FDI destinations in 2024](https://businessedge.news/uganda-among-top-20-fdi-destinations-in-2024/): Uganda has been named among the top 20 investment destinations on the African continent in 2024.
- [Relief as Gov’t sets interest rates for money lenders](https://businessedge.news/relief-as-govaet-sets-interest-rates-for-money-lenders/): In a bold move aimed at tightening the noose on unscrupulous money lenders, the Government has published Legal Instrument 21 of 2024, which caps interest rates on loans at not more than 2.8% per month (33.6% per annum).
- [Electric boda boda cutting air pollution levels](https://businessedge.news/electric-boda-boda-cutting-air-pollution-levels/): On any given day in Kampala City, the streets are clogged with traffic, the air thick with exhaust fumes.  In 2022, Kampala was on the list of the most heavily polluted cities worldwide, with pollution levels frequently exceeding WHO guidelines. The health impacts of air pollution, largely attributed to boda boda motorcycles, include respiratory diseases, heart disease, and cancer.
- [DTB enters mobile phone lending segment](https://businessedge.news/dtb-enters-mobile-phone-lending-segment/): Diamond Trust Bank (DTB) and Credable Group have entered a partnership through which Ugandans will be able to borrow microloans via Airtel Money.
- [DTB customers to receive cash at no cost](https://businessedge.news/dtb-customers-to-receive-cash-at-no-cost/): Diamond Trust Bank Uganda (DTB) has partnered with Xpress Money, an international money transfer service, to enable customers to receive money in over 170 countries worldwide at no cost.
- [Uganda’s SGR project given to Turkish company](https://businessedge.news/ugandaaes-sgr-project-given-to-turkish-company/): The Government of Uganda is set to officially hand over the construction of the Standard Gauge Railway (SGR) project to a Turkish company, following the signing of the $3 billion contract.
- [Big names missing at COP29 in Baku](https://businessedge.news/big-names-missing-at-cop29-in-baku/): Several influential world leaders have opted not to attend an action summit this week at the center of climate talks in Azerbaijan. High on the agenda is a deal to boost climate funding for developing countries.
- [Five men remanded after phone-flashing crackdown](https://businessedge.news/five-men-remanded-after-phone-flashing-crackdown/): A crackdown on the growing menace of identity theft, phone theft and flashing fraud has resulted in the arrest and prosecution of five men.
- [Unit trusts total assets soar to UGX 3.5 trillion](https://businessedge.news/unit-trusts-total-assets-soar-to-ugx-3-5-trillion/): Uganda's financial assets under management (AUM) in the Collective Investment Scheme (CIS) market have hit an all-time high, reaching UGX 3.5 trillion (approximately US$ 945.4 million) as of September 2024.
- [Likely implications of Trump return for Africa](https://businessedge.news/likely-implications-of-trump-return-for-africa/): Across Africa, Donald Trump’s forth-coming second term holds various implications for the continent and its development agenda. The United States remains an important partner in Africa’s growth. Through initiatives like the African Growth and Opportunity Act (AGOA) and the Millennium Challenge Corporation (MCC), the U.S. has sought to facilitate Africa’s integration into the global economy.
- [MTN profits top UGX460 billion in 9 months](https://businessedge.news/mtn-profits-top-ugx460-billion-in-9-months/): MTN Uganda has announced a 29.6% year-on-year increase in profit after tax, totaling Shs 459.4 billion for the nine months ending September 30, 2024.
- [EAC partners warned on trade bottlenecks](https://businessedge.news/eac-partners-warned-on-trade-bottlenecks/): Regional political and business leaders have expressed concern about the daunting challenges that the private sector continues to face in regard to trade in the region.
- [PMI: Private sector maintains growth trend](https://businessedge.news/pmi-private-sector-maintains-growth-trend/): Uganda’s private sector showed resilience in October, with business conditions improving steadily as firms reported robust demand and increased hiring. The latest Stanbic Purchasing Managers’ Index (PMI) places the index at 52.9 for October, slightly down from 54.2 in September.
- [Uganda incurs UGX13 Tn export losses - report](https://businessedge.news/uganda-incurs-ugx13-tn-export-losses-report/): Uganda is losing up to $3.5 billion (UGX 13 trillion) every year in perishable agricultural exports due to persistent border delays, poor infrastructure, and outdated trade systems.
- [UDB gets UGX104 Billion to power SME growth](https://businessedge.news/udb-gets-ugx104-billion-to-power-sme-growth/): The Uganda Development Bank (UDB) has clinched a USD30 million (UGX 104 billion) financing facility from the Islamic Corporation for the Development of the Private Sector (ICD). The partnership marks the first-ever Islamic Line of Finance not only in Uganda but also in the entire East African region, ushering in a new era of ethical and inclusive financing.
- [High food prices push annual inflation to 4.0%](https://businessedge.news/high-food-prices-push-annual-inflation-to-4-0/): Uganda’s annual headline inflation for the year ending September 2025 rose to 4.0%, up from 3.8% in August, which reflects ongoing volatility in the market, largely driven by sharp rises in food prices, and underscores the need for targeted measures to stabilize the agricultural supply chain.
- [Museveni salutes Kiira Motors over innovation, jobs](https://businessedge.news/museveni-salutes-kiira-motors-over-innovation-jobs/): President Yoweri Museveni has described Kiira Motors Corporation as a major leap in Uganda’s journey toward self-sustaining economic growth following the launch of the vehicle production facility in Jinja.
- [New MTN MoMo campaign to promote kyeyo remittances](https://businessedge.news/new-mtn-momo-campaign-to-promote-kyeyo-remittances/): MTN MoMo Uganda has launched a campaign aimed at expanding its footprint in the remittances market. The company has also rolled out seamless cross-border payments between Uganda and Tanzania and a new partnership with Dubai Duty Free to strengthen remittance services for Ugandans abroad.
- [NSSF pays out record UGX 2.79 trillion to members](https://businessedge.news/nssf-pays-out-record-ugx-2-79-trillion-to-members/): Each National Social Security Fund (NSSF) member will receive an average of UGX1 million credited on their pension account, thanks to the 13.5 percent interest rate that the pension Fund has declared for 2024/2025.
- [ICEA LION unit trust tops UGX 468 billion](https://businessedge.news/icea-lion-unit-trust-tops-ugx-468-billion/): ICEA LION Asset Management has announced a robust performance for its Unit Trust Funds for the fiscal year ending December 2024, marked by significant growth in assets, revenue, and membership.
- [URA offers 100% tax amnesty on interest, penalties](https://businessedge.news/ura-offers-100-tax-amnesty-on-interest-penalties/): Taxpayers that clear their outstanding principal tax liabilities will be exempted from paying interest and penalties, the Uganda Revenue Authority (URA) has announced.
- [Building Beyond The Dream: Five Truths For Africa's Entrepreneurs](https://businessedge.news/building-beyond-the-dream-five-truths-for-africaaes-entrepreneurs/): Every thriving company you see today began as a fragile idea, exciting but also terrifying. I know this because I’ve lived it. As the eldest daughter in a Ugandan business family, I grew up surrounded by conversations about risk, leadership, and responsibility. But nothing prepared me for the reality of starting my own venture. Musana Carts began as an idea for a student competition. At the time, it felt almost impossible; could we really design solar-powered street food carts that […]
- [World Bank warns Uganda over climate change impacts](https://businessedge.news/world-bank-warns-uganda-over-climate-change-impacts/): Without strong action, climate change could cut Uganda's economic growth by up to 3.1% by 2050, pushing more than 613,000 people into poverty and turning 12 million more into internal migrants., a new World Bank report has warned.
- [MTN wins 2025 Employer of the Year accolade](https://businessedge.news/mtn-wins-2025-employer-of-the-year-accolade/): MTN Uganda has been named Employer of the Year 2025 by the Federation of Uganda Employers (FUE), winning the Gold Category award for the second consecutive year.
- [NSSF bullish as earnings hit UGX3.52 trillion](https://businessedge.news/nssf-bullish-as-earnings-hit-ugx3-52-trillion/): The National Social Security Fund (NSSF) has posted earnings worth UGX3.52 trillion for the Financial Year ending June 30, 2025, raising hopes that the interest rate paid to members will see an increase from last year’s 11.5%.
- [BoU to raise UGX355 bn in Treasury Bills auction](https://businessedge.news/bou-to-raise-ugx355-bn-in-treasury-bills-auction/): BoU to raise UGX355 bn in Treasury Bills auction
- [Uganda, Japanese bank sign financial cooperation deal](https://businessedge.news/uganda-japanese-bank-sign-financial-cooperation-deal/): Uganda has taken a leap in attracting long-term investment, following the signing of a landmark memorandum of understanding (MoU) with the Japan Bank for International Cooperation (JBIC).
- [Govt set to sign UGX15 Trillion refinery contract](https://businessedge.news/govt-set-to-sign-ugx15-trillion-refinery-contract/): The Uganda National Oil Company (UNOC) is edging closer to finalizing Front-End Engineering Design (FEED) contracts for the country’s first oil refinery, a $4 billion (UGX 15.2 trillion) project.
- [African postal body, EABC sign partnership MoU](https://businessedge.news/african-postal-body-eabc-sign-partnership-mou/): The East African Business Council (EABC) and Pan African Postal Union (PAPU) have signed a landmark Memorandum of Understanding (MoU) aimed at strengthening cooperation to boost digital trade, cross-border e-commerce, financial inclusion, and efficient logistics services across East Africa.
- [Gov't holds talks with top MTN Group Fintech bosses](https://businessedge.news/govaet-holds-talks-with-top-mtn-group-fintech-bosses/): MTN Group Fintech Directors are in Uganda for a high-level engagement with regulators and other key stakeholders. The visit highlights Uganda’s central role in the Group’s fintech strategy and comes shortly after shareholder approval for the structural separation of MTN MoMo Uganda from MTN Uganda, a milestone that positions the business to operate as a standalone fintech entity. During the visit, MTN Group Fintech Directors held discussions with institutions including the Bank of Uganda, Uganda Revenue Authority (URA), the Financial […]
- [NITA-U renews fight against rising cybercrime](https://businessedge.news/nita-u-renews-fight-against-rising-cybercrime/): The National Information Technology Authority-Uganda (NITA-U), working with the Personal Data Protection Office (PDPO), has launched a nationwide campaign dubbed ‘Beera Ku Guard,’ aimed at reshaping how Ugandans think about cyber security, data protection, and privacy.
- [New Absa Bank initiative to boost rural businesses](https://businessedge.news/new-absa-bank-initiative-to-boost-rural-businesses/): Absa Bank Uganda has launched a series of Regional SME Forums aimed at boosting entrepreneurship and business resilience across the country.
- [Dutch fish feeds factory starts production in Buikwe](https://businessedge.news/dutch-fish-feeds-factory-starts-production-in-buikwe/): History has been made with the opening of Uganda’s its first dedicated fish feeds factory.
- [MTN MoMo named payment partner for Trade Fair](https://businessedge.news/mtn-momo-named-payment-partner-for-trade-fair/): The Uganda Manufacturers Association (UMA) has today unveiled MTN MoMo as the official payments partner for the upcoming Uganda International Trade Fair (UITF), scheduled to take place from October 2 – 12, 2025 at the UMA Showgrounds, Lugogo in Kampala City.
- [MTN, WWF launch climate change competition](https://businessedge.news/mtn-wwf-launch-climate-change-competition/): MTN Uganda in partnership with the World Wide Fund for Nature (WWF), has launched the Pachi Panda Innovation Challenge, a programme aimed at supporting young people to develop business ideas that address food, energy and water security challenges in the country.
- [MTN Momo clients to win UGX10m weekly in new promo](https://businessedge.news/mtn-momo-clients-to-win-ugx10m-weekly-in-new-promo/): MTN MoMo Uganda has today announced the launch of its latest promotion, ‘Power to Win,’ a customer reward initiative designed to celebrate and reward MoMo users across the country.
- [Govt sets aside UGX382 bn to kick-start SGR project](https://businessedge.news/govt-sets-aside-ugx382-bn-to-kick-start-sgr-project/): The Government has taken a major step toward modernising its transport infrastructure by setting aside cash to ensure that the long-awaited Standard Gauge Railway (SGR) project moves from the planning stage to implementation.
- [Economy on track for 7% growth – Matia Kasaija](https://businessedge.news/economy-on-track-for-7-growth-ae-matia-kasaija/): Uganda’s economy is projected to grow by at least 7.0% in the Financial Year 2025/26, with expectations of reaching double-digit growth in the medium term as the country commences commercial oil and gas production, according to the Finance Ministry.
- [Government salutes MTN on sustainability milestones](https://businessedge.news/govaet-salutes-mtn-on-sustainability-milestones/): The State Minister for ICT and National Guidance, Hon. Godfrey Baluku Kabyanga, has paid glowing tribute to MTN Uganda over the remarkable milestones it has achieved towards ensuring sustainable development in the country. Speaking at the launch of the company’s inaugural Sustainability Report 2024, Kabyanga commended the company for producing a report that goes beyond mere numbers to “setting a standard of accountability and transparency that government would like to see across all sectors.” “It provides a mirror, showing where […]
- [$40 bn needed to lift Africa's refining capacity - OPEC](https://businessedge.news/40-bn-needed-to-lift-africaaes-refining-capacity-opec/): Africa is poised for substantial growth in its refining capacity, set to add 1.2 million barrels per day (bpd) by 2030, which OPEC identifies as one of the fastest downstream expansions globally. According to the 2025 OPEC World Oil Outlook, this growth is being spearheaded by large-scale projects, with Nigeria’s 650,000 bpd Dangote Refinery at the forefront. Other key projects are in Angola (Lobito and Soyo Refineries) and Uganda (Hoima facility), as well as modular refineries in other countries like […]
- [MTN, Turkish Airlines to reward prestige clients](https://businessedge.news/mtn-turkish-airlines-to-reward-prestige-clients/): MTN Uganda, through its exclusive loyalty program MTN Prestige, has partnered with Turkish Airlines to launch an exciting new campaign, “Fly Prestige with Turkish Airlines,” offering loyal customers the chance to win free round-trip air tickets to destinations across the globe.
- [M-KOPA launches phone with health insurance cover](https://businessedge.news/m-kopa-launches-phone-with-health-insurance-cover/): M-KOPA, a leading fintech company, has officially launched an innovative smartphone offering that combines premium digital access with built-in financial services such as health insurance for low-income earners.
- [Shilling maintaining 14-month appreciation trend - BoU](https://businessedge.news/shilling-maintaining-14-month-appreciation-trend-bou/): The Bank of Uganda (BoU) has confirmed that the Ugandan Shilling has been on a consistent path of appreciation for the last 14 months, a development attributed to strong economic fundamentals rather than direct intervention by the Central bank.
- [Museveni launches $150m Wagagai gold refinery](https://businessedge.news/museveni-launches-150m-wagagai-gold-refinery/): President Yoweri Museveni has renewed his call for Uganda to break free from what he termed the “colonial curse” of exporting raw minerals, urging the establishment of a Mineral Wealth Fund that would convert the country’s gold and oil revenues into lasting infrastructure.
- [Fighting cybercrime is a collective responsibility](https://businessedge.news/fighting-cybercrime-is-a-collective-responsibility/): Every day, our service centres and call lines receive countless reports from customers who’ve fallen victim to fraud. People are tricked into sharing their PINs.
- [Museveni woos high-value Egyptian investors to Uganda](https://businessedge.news/museveni-woos-high-value-egyptian-investors-to-uganda/): President Yoweri Kaguta Museveni has called on Egyptian investors to channel capital and entrepreneurship opportunities into Uganda, saying the two countries can transform their centuries-old River Nile connection into a powerful engine for economic growth.
- [Private sector growth trend persists amid headwinds](https://businessedge.news/private-sector-growth-trend-persists-amid-headwinds/): Uganda’s private sector continued its growth trajectory in July, with new orders and business activity maintaining strong momentum, according to the latest Stanbic Bank Purchasing Managers’ Index (PMI) report.
- [Central Bank holds key rate steady at 9.75%](https://businessedge.news/central-bank-holds-key-rate-steady-at-9-75/): The Bank of Uganda (BoU) has maintained the Central Bank Rate (CBR) at 9.75%, a move that signals caution and confidence as the country navigates global economic uncertainty, geopolitical tensions and excess liquidity pressures during the electoral period.
- [MTN Uganda to pay UGX224 Billion dividends](https://businessedge.news/mtn-uganda-to-pay-ugx224-billion-dividends/): MTN Uganda has posted strong financial results for the six months ended June 30, with total revenue climbing soaring to UGX 1.7 trillion.
- [EAC sees $800m surplus amid intra-States trade surge](https://businessedge.news/eac-sees-800m-surplus-amid-intra-states-trade-surge/): The East African Community (EAC) has posted a remarkable economic milestone, registering a trade surplus of USD800 million in the first quarter of 2025.
- [First boda winner announced in MTN MoMo promo](https://businessedge.news/first-boda-winner-announced-in-mtn-momo-promo/): Nakawa Market in Kampala on Thursday came alive with jubilation as MTN MoMo handed over the first of 24 brand-new motorcycles, as part of its ongoing "Power to Be More" promotion.
- [EAC nations desperate to cut air travel costs](https://businessedge.news/eac-nations-desperate-to-cut-air-travel-costs/): The East African Community (EAC) is accelerating plans to liberalise its airspace and reduce the high cost of air travel, a move that could transform the region’s connectivity, boost trade, and open up new opportunities for the tourism industry.
- [Exports, fiscal spending boost business prospects](https://businessedge.news/exports-fiscal-spending-boost-business-prospects/): Uganda’s economy showed continued resilience and growth momentum in May and June 2025, with key high-frequency indicators pointing to sustained improvements in trade, private sector performance, and overall business sentiment. This progress aligns with preliminary estimates by the Uganda Bureau of Statistics (UBOS), which project a 6.3% GDP growth for the financial year 2024/25.
- [Uganda can harness digital transformation agenda](https://businessedge.news/uganda-can-harness-digital-transformation-opportunity/): It is now evident that Uganda’s path to socio-economic transformation will not be driven by connectivity alone but by how that connectivity is translated into real value through platforms, digital tools, and strong public-private collaboration.
- [Euro Gold Refinery opens as gold prices surge](https://businessedge.news/euro-gold-refinery-opens-as-gold-prices-surge/): Global gold prices have surged to about $3,348 (UGX12.6 million) per ounce, driven by economic uncertainty and strong investor demand, according to Reuters.
- [Uganda’s headline inflation down to 3.8% in July](https://businessedge.news/ugandaaes-headline-inflation-down-to-3-8-in-july/): Uganda’s annual headline inflation has eased to 3.8% in July 2025, down slightly from 3.9% recorded in June, according to the latest figures from the Uganda Bureau of Statistics (UBOS). This decline reflects a combination of declining food prices and stable energy costs, offering some relief to consumers battling high living expenses in recent months.
- [MTN, hotel body sign deal to digitise industry](https://businessedge.news/mtn-hotel-body-sign-deal-to-digitise-industry/): MTN Uganda, MTN Mobile Money (U) Limited, and the Uganda Hotel Owners’ Association (UHOA) have signed a landmark Memorandum of Understanding (MoU) at Hotel Africana, marking the beginning of a strategic partnership aimed at accelerating digital transformation in Uganda’s hospitality sector.
- [Will new MoUs eliminate Uganda, Kenya trade disputes?](https://businessedge.news/will-new-mous-eliminate-uganda-kenya-trade-disputes/): President Yoweri Kaguta Museveni of Uganda and President William Ruto of Kenya have signed seven new landmark agreements aimed at easing trade frictions and accelerating economic growth between the two countries.
- [Google found guilty of breaching Ugandan data laws](https://businessedge.news/google-found-guilty-of-breaching-uganda-data-laws/): In a notable decision with potential regional implications, Uganda’s Personal Data Protection Office (PDPO) on July 18 ruled that Google had violated Uganda’s Data Protection and Privacy Act.
- [UK Court rejects Sudhir  attempt to block PwC reports](https://businessedge.news/uk-court-rejects-sudhir-attempt-to-block-pwc-reports/): DFCU Bank has secured a procedural victory in an ongoing case before the English High Court, as part of the legal proceedings initiated by Crane Bank Limited (CBL) and others over its alleged fraudulent sale by the Bank of Uganda.
- [Bankers want policy to boost kyeyo remittances](https://businessedge.news/bankers-want-policy-to-boost-kyeyo-remittances/): Banking industry stakeholders are calling for tax incentives and a comprehensive national policy on remittances to boost the inflows and enhance their potential impact on the economy.
- [15-year Treasury Bond yield shoots to record 17.8%](https://businessedge.news/15-year-treasury-bond-yield-shoots-to-record-17-8/): Uganda’s domestic debt market remained active and resilient in June 2025, with the government raising UGX 1.86 trillion through three auctions of Treasury Bills and Bonds, according to the June 2025 Performance of the Economy Report released by the Ministry of Finance, Planning, and Economic Development.
- [MTN Uganda gives Sheema school new ICT lab](https://businessedge.news/mtn-uganda-gives-sheema-school-new-ict-laboratory/): MTN Uganda, through the MTN Foundation’s Digital Access Project, has today handed over a fully equipped ICT facility to St. John’s Secondary School Nyabwina in Sheema District, marking a major milestone in the telco’s efforts to bridge the digital divide in rural Uganda.
- [French media giant Canal+ takes over DStv, GOtv](https://businessedge.news/french-media-giant-canal-takes-over-dstv-gotv/): French media conglomerate Canal+ has officially acquired full ownership of MultiChoice Group, the parent company of DStv and GOtv, in a landmark $3 billion (approx. 55 billion rand) deal.
- [Passports worth UGX11 bn to be destroyed](https://businessedge.news/passports-worth-ugx11-bn-to-be-destroyed/): At least 42,000 unclaimed Ugandan passports worth UGX 10.5 billion are set to be destroyed by the Directorate of Citizenship and Immigration Control (DCIC), an official has said.
- [Minority owners overwhelmingly endorse MTN MoMo separation](https://businessedge.news/minority-owners-overwhelmingly-endorse-mtn-momo-separation/): MTN Uganda Limited shareholders have overwhelmingly approved the proposed structural separation of its mobile money and fintech business, MTN Mobile Money (U) Limited (“MTN MoMo”), marking a significant milestone in the company’s strategic evolution into a fintech giant with global partners.
- [World Bank offers UGX170 Bn for export promotion](https://businessedge.news/world-bank-offers-ugx170-bn-for-export-promotion/): The Government of Uganda has received UGX 170 billion as the first tranche of a UGX 800 billion financing package from the World Bank under the Investment for Industrial Transformation and Employment (INVITE) Trust. This funding aims to boost manufacturing and export-oriented enterprises by easing access to affordable financing.
- [Petrol-ethanol blending to save UGX400m per year](https://businessedge.news/petrol-ethanol-blending-to-save-ugx400m-per-year/): Uganda has officially rolled out a national biofuel blending programme that will see petrol mixed with ethanol extracted from crops such as maize, cassava, and sugarcane, a development expected to enhance energy security, reduce environmental degradation, and significantly raise farmer incomes.
- [MTN passes out over 290 ICT girls in Gayaza](https://businessedge.news/mtn-passes-out-over-290-ict-girls-in-gayaza/): MTN Uganda, in partnership with Smart Girls Foundation, has graduated 298 youths under the Girls in Tech and Girls with Tools initiatives, expanding efforts to reduce youth unemployment and close the digital skills gap in one of Africa’s youngest nations.
- [Entebbe hits record traffic numbers in June 2025](https://businessedge.news/entebbe-hits-record-traffic-numbers-in-june-2025/): Entebbe International Airport recorded its second-highest monthly traffic on record in June 2025, handling 213,217 international passengers, according to data released by the Uganda Civil Aviation Authority (UCAA).
- [MTN Uganda boosts Halima's legends music gala](https://businessedge.news/mtn-uganda-boosts-halimas-legends-music-gala/): MTN Uganda and MTN Mobile Money (U) Limited have proudly announced their sponsorship of the “Halima Namakula: Living Legends Gala”, reaffirming their commitment to celebrating and empowering local talent.
- [ICT’s UGX380 bn budget allocation welcome, but…](https://businessedge.news/ictaes-ugx380-bn-budget-allocation-welcome-butae%c2%a6/): The recent reading of Uganda’s 2025/26 national budget offers timely insight into the government’s development agenda, and one area that stands out is the renewed emphasis on digital transformation.
- [Exports boom drives economy to UGX226 Trillion](https://businessedge.news/exports-boom-drives-economy-to-ugx226-trillion/): A surge in export earnings and foreign direct investment has propelled Uganda’s economy to new heights, with nominal GDP reaching UGX226.34 trillion ($61.3 billion) in the financial year 2024/25.
- [Uganda's kyeyo remittances hit record UGX5 trn in 2024](https://businessedge.news/ugandas-kyeyo-remittances-hit-record-ugx5-trn-in-2024/): Uganda received a record $1.4 billion (about UGX 5 trillion) in diaspora remittances in 2024, surpassing traditional foreign exchange earners like tourism and coffee.
- [DFCU Bank reports 151% profit surge in 2024](https://businessedge.news/dfcu-bank-reports-151-profit-surge-in-2024/): DFCU Bank has reported a 151% increase in profit after tax for the financial year 2024.
- [NCBA gives Makerere marathon UGX1.45 bn boost](https://businessedge.news/ncba-gives-makerere-marathon-ugx1-45-bn-boost/): Makerere University is elevating this year’s edition of the annual MakRun to a fully professional-level event following the announcement of a UGX1.45 billion sponsorship deal from NCBA Bank Uganda.
- [UNOC eyeing partner for new oil block exploration](https://businessedge.news/unoc-eyeing-partner-for-new-oil-block-exploration/): Uganda National Oil Company (UNOC) is on the lookout for a joint venture partner to help it explore and develop an oil block in the western part of the African country, a spokesperson for the state-owned oil firm told Reuters on Wednesday.
- [Banking sector quarterly profits soar by UGX200 bn](https://businessedge.news/banking-sector-quarterly-profits-soar-by-ugx200-bn/): Uganda’s banking sector continues to demonstrate resilience, strong profitability, and sound risk management, Bank of Uganda’s Quarterly Financial Stability Review has shown.
- [Annual tax collections surpass target by UGX262 bn](https://businessedge.news/annual-tax-collections-surpass-target-by-ugx262-bn/): The Uganda Revenue Authority (URA) has exceeded its revenue collection target for the 2024/25 financial year, registering a surplus of UGX 262.43 billion.
- [Vulnerable Kanungu pupils get clothing boost](https://businessedge.news/vulnerable-kanungu-pupils-get-clothing-boost/): On Saturday, July 5, 2025, what began as a simple call to action; “Everybody Deserves to Be Smart”, turned into a remarkable display of generosity and shared purpose.
- [Put people at centre of digital roadmap - MTN chief](https://businessedge.news/put-people-at-centre-of-digital-roadmap-mtn-chief/): Uganda’s Digital Transformation Roadmap, which envisions a future where digital tools drive economic productivity, efficiency in government, and inclusion across sectors, will only bear results if people are at the centre, a top MTN manager has said.
- [PostBank's Wendi hits UGX 1 tn in PDM disbursements](https://businessedge.news/postbanks-wendi-hits-ugx-1-tn-in-pdm-disbursements/): Wendi, a digital wallet developed by PostBank Uganda, has processed more than UGX 1 trillion in cash disbursements to beneficiaries of the Parish Development Model (PDM).
- [MTN MoMo ventures into life insurance with Sanlam](https://businessedge.news/mtn-momo-ventures-into-life-insurance-with-sanlam/): MTN Mobile Money Uganda Limited has unveiled Cover by MoMo, a mobile-based insurance platform designed to make insurance simple, accessible, and affordable for Ugandans at the grassroots.
- [EAC in crisis over members’ UGX220 bn arrears](https://businessedge.news/eac-in-crisis-over-membersae-ugx220-bn-arrears/): A financial crisis is threatening to cripple the East African Community (EAC) as member states collectively owe a staggering $58 million (UGX 220 billion) in unpaid annual contributions as of March 2025.
- [EAC marks 25 years as non-tariff barriers persist](https://businessedge.news/eac-marks-25-years-as-non-tariff-barriers-persist/): As the East African Community (EAC) marks 25 years since its revival in July 2000, the dream of a borderless, economically integrated region remains largely unfulfilled hobbled by persistent non-tariff barriers (NTBs) that continue to suffocate trade and investment.
- [UGX4.43 trillion raised from treasury bonds in May](https://businessedge.news/ugx4-43-trillion-raised-from-treasury-bonds-in-may/): Uganda’s government raised more than UGX4.43 trillion from the sale of government securities in May 2025, according to the Performance of the Economy Report for May 2025 released by the Ministry of Finance, Planning and Economic Development.
- [UDB profits soar as assets hit UGX1.78 trillion](https://businessedge.news/udb-profits-soar-as-assets-hit-ugx1-78-trillion/): The Uganda Development Bank Ltd. (UDB) has announced its financial results for the year 2024, highlighting its growing role in supporting Uganda’s economic development.
- [Private sector improves as PMI tops 56.4 points](https://businessedge.news/private-sector-improves-as-pmi-tops-56-4-points/): Uganda's private sector is experiencing a improved in May, with business confidence reaching a near two-year peak in the month.
- [Minister Anite revives minimum wage debate](https://businessedge.news/minister-anite-revives-minimum-wage-debate/): Uganda’s industrial sector is experiencing an unprecedented transformation, with far-reaching effects on job creation, economic growth, and the standard of living. The shift, which has seen the number of factories surge to over 50,000, has positioned industry as a key pillar in Uganda’s development strategy.
- [MTN lifts up Busoga Kingdom young mothers](https://businessedge.news/mtn-lifts-up-busoga-kingdom-young-mothers/): MTN Uganda and its partners have today donated digital equipment and vocational tools to the Busoga Kingdom, reaffirming their commitment to bridging the country’s digital divide and empowering youth through practical skills development.
- [Will UGX72.4 trillion budget spur sustainable growth?](https://businessedge.news/will-ugx72-4-trillion-budget-spur-sustainable-growth/): Finance Minister Matia Kasaija has presented the national budget amounting to UGX 72.4 trillion (approximately USD18.8 billion), underscoring the government's strategic focus on transforming the economy, fostering wealth creation, and enhancing the livelihoods of its citizens.
- [Uganda’s exports revenues soar to $11.8 billion](https://businessedge.news/ugandaaes-exports-revenues-soar-to-11-8-billion/): Uganda’s export sector has registered remarkable growth, with total exports of goods and services reaching USD 11.8 billion (UGX 45.4 trillion) in the 12 months to March 2025, up from USD 9.56 billion (UGX 36.7 trillion) during the same period in 2024, Finance Minister Matia Kasaija has said.
- [Alur Kingdom salutes MTN over community boost](https://businessedge.news/alur-kingdom-salutes-mtn-over-community-boost/): MTN Uganda has taken its flagship staff volunteerism initiative, the 21 Days of Y’ello Care, to the Alur Kingdom in Pakwach District, intensifying its commitment to community development with a focus on healthcare, digital inclusion, and youth empowerment.
- [Rethink industrial financing model, Bahati tells banks](https://businessedge.news/rethink-industrial-financing-model-bahati-tells-banks/): The Minister of State for Industry, David Bahati, has made a passionate appeal to Uganda’s financial sector to urgently reform its lending practices, cautioning that the current system, marked by exorbitant interest rates, inflexible loan conditions, and prolonged bureaucratic processes, is undermining industrial growth and threatening the country’s broader economic transformation agenda.
- [MTN rallies minority owners for MOMO separation](https://businessedge.news/mtn-rallies-minority-owners-for-momo-separation/): MTN Uganda has summoned its minority shareholders for an Extraordinary General Meeting to vote for a key decision to separate its mobile money business from the telecommunications company.
- [MTN Y’ello Care campaign lights up Luwero](https://businessedge.news/mtn-yaeello-care-campaign-lights-up-luwero/): MTN Mobile Money Uganda Ltd on Thursday extended its 2025 edition of the 21 Days of Y’ello Care campaign to Luwero District, marking the second major activation of this year’s employee volunteerism initiative.
- [Ensure fiscal discipline, civil society tells Government](https://businessedge.news/ensure-fiscal-discipline-civil-society-tells-government/): As Finance Minister Matia Kasaija prepares to unveil Uganda’s national budget on June 12, civil society organizations (CSOs) are intensifying calls for greater fiscal discipline, transparency, and improved service delivery warning that without these, public investments will fail to meet the country’s development goals.
- [DTB boss optimistic despite tough market conditions](https://businessedge.news/dtb-boss-optimistic-despite-tough-market-conditions/): The financial sector will continue facing challenging market conditions and banks in particular, will be required to be more agile and resilient in order to take advantage of new opportunities in the fast-evolving financial landscape.
- [April coffee exports revenue hits record $1.97 billion](https://businessedge.news/april-coffee-exports-revenue-hits-record-1-97-billion/): Coffee remains Uganda’s most reliable source of foreign exchange, with the latest report from the Coffee Development Department revealing significant growth in both export volume and earnings.
- [MTN to spend UGX500m on grassroots digital drive](https://businessedge.news/mtn-to-spend-ugx500m-on-grassroots-digital-drive/): MTN Uganda today kicked off the 2025 edition of 21 Days of Y’ello Care, the company’s annual employee volunteerism initiative. This year’s campaign, themed “Connecting at the Roots – Connecting Communities through Digital Tools,” is to run from June 1 to June 21, 2025, and focuses on supporting communities that continue to face barriers to digital access and connectivity.
- [May inflation up to 3.8% as food prices surge](https://businessedge.news/may-inflation-up-to-3-8-as-food-prices-surge/): Uganda’s Annual Headline Inflation rose to 3.8% in the 12 months ending May 2025, up slightly from 3.5% in April 2025, according to the latest Consumer Price Index (CPI) report by the Uganda Bureau of Statistics (UBOS).
- [Stanbic AGM approves UGX155 bn dividend pay-out](https://businessedge.news/stanbic-agm-approves-ugx155-bn-dividend-pay-out/): The shareholders of Stanbic Uganda Holdings Limited (SUHL) have held their Annual General Meeting (AGM) at which they approved a final dividend.
- [UEDCL targets 225,000 new power connections](https://businessedge.news/uedcl-targets-225000-new-power-connections/): The Uganda Electricity Distribution Company Limited (UEDCL) has embarked on an ambitious plan to add up to 225,000 new electricity connections across the country within the next eight months, signalling a new era in power distribution since acquiring the distribution license last year.
- [Buyende nuclear power production set for 2031](https://businessedge.news/buyende-nuclear-power-production-set-for-2031/): Uganda is accelerating its journey toward nuclear energy, with the government announcing plans to commission the first 1,000 megawatts (MW) from the Buyende Nuclear Power Plant by 2031.
- [Govt, MTN moot ambitious digital inclusion agenda](https://businessedge.news/govt-mtn-moot-ambitious-digital-inclusion-agenda/): It’s not often that you find a room packed to capacity with the country’s top brains in the information, communication and technology (ICT) sector, and more so if they all representing public sector institutions such as Ministries, Departments and Agencies.
- [World Bank boosts farmers with $350m climate project](https://businessedge.news/world-bank-boosts-farmers-with-350m-climate-project/): The Ministry of Agriculture, Animal Industry and Fisheries (MAAIF), in partnership with the World Bank, is implementing the Uganda Climate Smart Agriculture Transformation Project (UCSATP) across 69 districts, including seven refugee-hosting areas.
- [EACOP claims 58% project works completion](https://businessedge.news/eacop-claims-58-project-works-completion/): The East African Crude Oil Pipeline (EACOP) project is going on according to schedule, with an official stating that the pipeline has now reached 58% completion.
- [UTB targets $50 bn tourism revenue by 2040](https://businessedge.news/utb-targets-50-bn-tourism-revenue-by-2040/): The Uganda Tourism Board (UTB), in collaboration with the Ministry of Tourism, Wildlife and Antiquities, has launched an ambitious five-year National Destination Marketing Strategy (NDMS) aimed at transforming Uganda into a globally competitive and sustainable tourism destination.
- [UCC, telecoms join forces to end wire theft](https://businessedge.news/ucc-telecoms-join-forces-to-end-wire-theft/): The Uganda Communications Commission (UCC) has teamed up with MTN Uganda, Airtel Uganda, and ATC to launch a nationwide anti-vandalism campaign aimed at safeguarding the country’s critical telecom infrastructure including wires, cables and towers.
- [Central bank maintains key rate at 9.75%](https://businessedge.news/central-bank-maintains-key-rate-at-9-75-2/): The Monetary Policy Committee of the Bank of Uganda has decided to keep the Central Bank interest rate at 9.75% for May. The decision highlights the Central bank’s strong focus on keeping people’s expectations about future price increases stable and supporting a strong and long-lasting economic path for the country, even with the current unpredictable global economic outlook. Dr. Michael Atingi-Ego, the BoU Governor, told journalists at a briefing on Tuesday that the current monetary policy stance remains optimally calibrated […]
- [Central bank maintains key rate at 9.75%](https://businessedge.news/central-bank-maintains-key-rate-at-9-75/): The Monetary Policy Committee of the Bank of Uganda has decided to keep the Central Bank interest rate at 9.75% for May.
- [NCBA Bank reports UGX46 billion profit in  2024](https://businessedge.news/ncba-bank-reports-ugx46-billion-profit-in-2024/): NCBA Bank Uganda has announced a 40% increase in its profit before tax earnings, reaching UGX 46 billion in 2024.
- [President Museveni meets MTN top bosses at Entebbe](https://businessedge.news/president-museveni-meets-mtn-top-bosses-at-entebbe/): President Yoweri Museveni has held a high-level meeting with a delegation from MTN Group at State House Entebbe.

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