Browsing: Business

Uganda’s export earnings fell to USD 718.60 million in June 2024, a 23.6% decline from the previous month, largely driven by a sharp drop in mineral exports. However, coffee exports surged by 27.5%, reaching USD 162.36 million, supported by higher volumes and international prices. Asia and the EAC emerged as the biggest destinations for Uganda’s trade, while imports decreased by 6.5% during the same period.

In July 2024, Uganda’s government securities market witnessed significant movements, with bond yields showing mixed trends and treasury bill rates generally declining. The 15-year bond yield dropped to 15.80%, while private sector credit grew by 1.3%, indicating a dynamic financial landscape.

The Ministry of Finance’s latest report reveals a slight increase in the cost of living, with annual headline inflation rising to 4.0% in July 2024. The uptick is driven by higher prices in core sectors such as transport, accommodation, and food crops, despite a decline in energy costs. This signals a mixed economic landscape as Uganda navigates fluctuating market conditions.

TotalEnergies EP Uganda is leading a quiet revolution, transforming communities once burdened by uncertainty into hubs of hope and opportunity. Through initiatives focused on land access, housing, and vocational training, the company is setting a new standard for corporate responsibility. From empowering locals with essential skills to ensuring fair land resettlement processes, TotalEnergies is reshaping not just the physical landscape, but the lives of thousands in Uganda. Discover how this energy giant is laying the foundation for sustainable development and long-term prosperity in the region.

Nakajjubi Robinnah once faced the bleak prospect of unemployment, but through the support of KCB Bank’s training program, she transformed her life, becoming a skilled electrical technician. Her story is a powerful testament to resilience and the impact of educational opportunities on youth empowerment.

The 5th edition of the Business Trendsetters Forum is set to bring together Uganda’s top business leaders, entrepreneurs, and innovators at the Sheraton Kampala Hotel on August 29, 2024. This year’s forum will focus on the transformative role of Artificial Intelligence and medical innovations in shaping the future of business in Uganda, featuring key discussions, exhibitions, and the much-anticipated Trendsetters’ awards gala.

The Bank of Uganda has reduced the Central Bank Rate (CBR) by 25 basis points to 10.0%, signaling a cautious easing of monetary policy aimed at stimulating economic growth while keeping inflation in check. This decision comes as inflation remains below the central bank’s target, and the economy shows signs of recovery with GDP growth rebounding in recent quarters.

98% of Ugandans Have Less Than Shs 9 million in Banks

Ramathan Ggoobi, the Permanent Secretary of the Ministry of Finance, Planning and Economic Development and Secretary to the Treasury emphasized the importance of…

In the first quarter (July-September 2024), the Ugandan government released Shs 5.899 trillion, representing 21.3% of the discretionary budget. This…