Author: C-News Bureau Chief

KAMPALA: The Ugandan Shilling (UGX) showed notable resilience in April 2024, trading at an average mid-rate of UGX 3,822.7/USD, a significant improvement from UGX 3,895.8/USD in March. This 1.9 percent appreciation marks a welcome change from the depreciation pressures experienced since August 2023, as detailed in the Ministry of Finance’s April 2024 Economic Performance Report. Factors Driving Shilling Appreciation The strengthening of the Ugandan Shilling was underpinned by multiple factors, with a significant influx of foreign currency being paramount. Increased offshore investments in Uganda’s government securities played a critical role. “The competitive yields on government securities, driven by the Central…

KAMPALA: In April 2024, Uganda saw a slight reduction in annual headline inflation, which dipped to 3.2% from 3.3% in March. This decrease is largely attributed to a stronger deflation in food crop prices, indicating a more significant year-on-year decline compared to the previous month. However, not all sectors experienced the same relief; energy, fuel, and utilities (EFU) and core inflation both saw increases. According to the Ministry of Finance’s April 2024 economic performance report, these mixed signals underline the complexity of Uganda’s economic landscape. Economic activity and business conditions continued to strengthen, as evidenced by key indicators. The Composite…

KAMPALA – Uganda’s fiscal landscape is set for significant adjustments as the government lays out its borrowing plan for the fiscal year 2024–25. The recently released Medium-Term Debt Management Strategy (MTDS) report by the Ministry of Finance underscores the nation’s strategies to meet its financing needs prudently and cost-effectively. Rising Debt and the Need for a Plan By December 2023, Uganda’s public debt had escalated to USD 24.69 billion (UGX 93.38 trillion), reflecting a sharp increase from USD 21.74 billion (UGX 80.77 trillion) at the end of December 2022. This 13.6 percent surge was primarily fueled by substantial loan disbursements…

Uganda’s public debt has surged over the past five years, rising from UGX 42.20 trillion in June 2019 to UGX 86.75 trillion in June 2023. By December 2023, the debt had surged to UGX 93.38 trillion, reflecting a 13.6% growth within a year. This increase is primarily attributed to the acquisition of commercial loans for budget support and the costs associated with heightened domestic borrowing, according to the Ministry of Finance’s latest 10th edition of the Medium-Term Debt Management Strategy (MTDS) for the fiscal years 2024/25 to 2027/28. This annual report provides a comprehensive framework for public debt management, focusing…

C-News Bureau Chief Credit card users, particularly those within the Visa network, will soon experience significant changes in payment processes. In a recent release, Visa outlined new strategies aimed at enhancing the user experience, providing a more seamless and efficient interaction with their products. These forthcoming adjustments reflect Visa’s commitment to improving the functionality and convenience of its payment systems, according to lagradaonline.com. Key Innovations from Visa Visa Flexible Credential: The most anticipated change is the introduction of the Visa Flexible Credential. This innovation allows users to access multiple accounts with a single card, giving them the ability to choose…

Kampa, May 20, 2024: A shocking report by the Directorate of Traffic and Road Safety reveals that over 60 percent of road accident deaths in 2023 involved young people under 35. This demographic accounted for 2,862 of the total fatalities, highlighting the vulnerability of young people on Ugandan roads. According to the report, more men are dying in accidents, accounting for approximately 74% of fatalities compared to 26% for females. The Directorate of Traffic and Road Safety also reported that a significant number of pedestrians died on Ugandan roads in 2023. Specifically, 632 pedestrians lost their lives while crossing the…

Earlier on Monday, May 20, Dr. Pius Bigirimana, the Permanent Secretary/Secretary to the Judiciary, convened a meeting with staff whose positions were abolished under the newly approved Judiciary Service structure. This meeting, held at the Court of Appeal Conference Centre, was significant as it marked the first use of the new conference hall, a move Dr. Bigirimana highlighted as a cost-saving measure for the government. “Holding meetings here saves the government a substantial amount that would otherwise be spent on hotel venues,” he noted. The restructuring stems from the Administration of the Judiciary Act (AJA) of 2020, which led to…

Nairobi, Kenya, May 16, 2024 – In a significant diplomatic development, Uganda and Kenya have signed a tripartite agreement enabling the Uganda National Oil Company (UNOC) to directly import refined petroleum products through Kenya. This agreement, signed during President Yoweri Museveni’s visit to Nairobi on May 16, marks the end of a months-long dispute and promises to enhance the efficiency and reliability of Uganda’s petroleum sector. The agreement comes after a period of tension between the two nations, sparked by Kenya’s denial of a license to Uganda’s government-owned oil marketer, UNOC, to operate locally and handle fuel imports to Kampala.…

STARTIMES UGANDA PREMIER LEAGUE MATCHDAY 28 FIXTURES: Saturday, May 11, 2024 NEC FC vs. Vipers SC, MTN Omondi Stadium-Lugogo (4:00 pm) URA FC vs. KCCA FC, Muteesa II Stadium-Wankulukuku (4:00 pm) Kitara FC vs. Busoga United FC, Masindi Stadium (4:00 pm) Maroons FC vs. Soltilo Bright Stars FC, Prisons Ground-Lugazi (4:00 pm) BUL FC vs. Gaddafi FC, FUFA Technical Centre-Njeru (4:00 pm) Wakiso Giants FC vs. Mbarara City FC, Kabaka Kyabaggu Stadium-Wakiso (4:00 pm) UPDF FC vs. SC Villa, Bombo Military Barracks Ground (4:00 pm) Coach Hussein Mbalangu and his NEC FC squad are revving up for an exciting finish…

The prevalence rate is four times higher in girls. In the lead-up to the International Candlelight Memorial Day on May 17th, 2024, Uganda has reaffirmed its commitment to eradicating AIDS, emphasizing the crucial role of communities and sustained government initiatives in tackling the epidemic. The upcoming event in Hoima City symbolizes solidarity and remembrance for those lost to AIDS and is a stark reminder of the virus’s ongoing threat, Kyofa Kabuye, said in a statement read on behalf of the minister in Charge of the Presidency The event scheduled in Hoima City stands as a symbol of solidarity and remembrance…