The Uganda shilling came under depreciation pressure against the US dollar during the early trading session, weakening from 3680/3690 to an intraday low of 3695/3705 before recovering to close at 3685/3695. This was according to Absa Bank’s Monday market report. The move was largely driven by strong demand from interbank market participants. However, steady commodity…
By James Sserumaga, Head of Bancassurance, Equity Bank Uganda Uganda’s bancassurance industry continues to demonstrate remarkable momentum, with banks generating more than UGX 80.8 billion in insurance premiums during the first quarter of 2026 alone. According to the latest industry performance report, Equity Bank Uganda ranked fourth among the country’s 22 licensed bancassurance providers, generating…
The Uganda shilling lost ground during the week weighed down by robust demand for hard currency from local market participants, offshore investors and renewed tensions coming out of the Middle East in the recent hours of the day. According to Absa Bank Uganda weekly market report, the shilling closed the day trading at 3670 /…
The Uganda shilling strengthened against the U.S. dollar, reversing some of the losses recorded earlier as dollar demand softened following market turbulence triggered by tensions in the Middle East. According to Absa Bank Uganda Thursday market report, increased dollar sales in the interbank market supported the local currency, with the shilling closing at 3680/3690 compared…
The Uganda shilling lost ground on Wednesday weighed down by robust demand for hard currency from local market participants and offshore investors liquidating part of their government bond holdings ahead of tomorrow’s redemption and renewed tensions coming out of the Middle East in the recent hours of the day. According to Absa Bank Uganda’s Wednesday…
Mutundwe Data Centre When the power failed at MTN Uganda’s Mutundwe switch and data centre over the weekend, it did not just knock out one part of the network. It took down voice calls, data, mobile money and mobile learning services for customers across the country. Mutundwe is one of only two parent sites that…
Equity Group Managing Director and CEO Dr. James Mwangi (centre) receives a symbolic plaque on his appointment as the Continental Digital Public Infrastructure (DPI) Champion from AfricaNenda. Courtesy photo A new partnership between Equity Group, AfricaNenda Foundation and the Gates Foundation is set to accelerate the development of Digital Public Infrastructure (DPI) across Africa in…
After more than 16 years as Managing Director of Centenary Bank, Fabian Kasi is leaving behind a stronger institution than the one he inherited. During his tenure, the bank expanded its footprint, grew its financial performance, embraced digital banking, and strengthened financial inclusion across Uganda. As he hands over leadership to incoming Managing Director Godfrey…
The Uganda shilling was largely unchanged against the dollar in today’s session, holding at 3,645/3,655, according to the Monday’s Absa Bank Market Report. Trading was characterized by subdued dollar demand, with most corporate players remaining on the sidelines as market activity continues to recover in the early days of the new fiscal year. Inflows from…
By Prof. Augustus Nuwagaba, Deputy Governor Bank of Uganda Conventional economics dictates that economic growth must generate employment. Why? Because jobless growth is neither desirable nor sustainable. It is gainful employment that creates robust aggregate demand, which is a major driver of sustained economic growth. Furthermore, it is an obvious truth that robust wealth creation…
