Uganda Development Bank’s (UDB) gross loan disbursements in the year 2023 grew by 21 percent while its total assets rose by 8 percent in a year marked with a rollout of new initiatives towards supporting the private sector. During the year 2023, the Bank approved funding amounting to Shs691 billion to support 201 projects across the […]
The Private Sector Foundation Uganda (PSFU), and Development Partners working with the World Bank, have launched the Export Firm Support (EFS) to support Ugandan manufacturing businesses access regional and high-income markets.The EFS will help exporters and potential exporters with the assistance of local and international consultants to identify export opportunities and meet consumer demand through […]
Uganda Manufacturers Association (UMA) has warned Parliament that enacting the Alcoholic Drinks Control Bill 2023 in its current form will likely crash Uganda’s economy, Allan Ssenyondwa, Director of Policy Research and Advocacy at UMA told Parliament.Ssenyondwa said the manufacturers believe that the Bill is targeting the formal sector, leaving the informal sector to produce illicit […]
The Ambassador of the European Union (EU) to Uganda, Jan Sadek, on Tuesday 27th February 2024, met with Dr. Kenneth Omona, the Principal Private Secretary to President Yoweri Museveni to discuss the upcoming 3rd edition of the Uganda-EU Business Forum.The President is expected to be the chief guest at the forum scheduled to take place […]
The Minister of Education and Sport, Janet Museveni, has postponed the UCE transition examination based on the old curriculum from June/July as earlier scheduled to October/November 2024, Uganda National Examinations Board (UNEB) has revealed.The Minister reasoned that the period between June and July is too short for the repeaters to prepare and sit for the […]
Uganda Manufacturers Association (UMA) and KCB Bank Uganda Tuesday signed a Memorandum of Understanding that will see manufacturers access tailored trade finance solutions from the commercial bank to streamline their business operations.The UMA Chairperson, Deo Kayemba, said the cost of financing in the current market is high, at an average of 22 percent, and that […]
Standard Chartered Bank Uganda is now offering clients access to global banking products and services after launching its International Banking services offered in international financial centres including the UAE and the UK, amongst others.The Chief Executive Officer of Standard Chartered Bank Uganda, Sanjay Rughani, said the introduction of International Banking in Uganda is ‘a significant […]
The Petroleum Authority of Uganda (PAU), the regulator of the oil and gas sector in the country, reveals that the cumulative value of contracts reviewed, since 2021, stands at $7.163bn.Of this sum, $1.797bn (25%) is earmarked for Ugandan companies through direct Tier 1 contracting and sub-contracting from IOCs.A final investment decision announced in February 2022 […]
President Yoweri Museveni has received an update on the development of Bukasa Inland Port. The President received the status report during a meeting with a delegation from the contractor, Gauff Engineering led by Dr. Ulrich Salzer at State House Entebbe.Museveni assured the firm of the government’s support to ensure that the project is a success. […]
Uganda is no longer under Increased Monitoring by the Financial Action Task Force (FATF) grey list, the fifth Plenary of the FATF that recently sat in Singapore announced.The other countries to achieve this feat are Barbados, Gibraltar, and the United Arab Emirates.The FATF plenary congratulated these countries for their significant progress in addressing the strategic […]
