By Jeremiah Nyagah, National Director, World Vision Uganda When a family can grow enough food to feed its children, sell the surplus to pay school fees and save money for the next planting season, food security becomes more than the absence of hunger. It becomes the foundation for dignity, opportunity and a future the family…
The Uganda shilling experienced an exceptionally volatile week against the US dollar, initially extending its steep depreciation before recovering following decisive intervention by the Bank of Uganda, according to this week’s report by Absa Bank Uganda. The local unit weakened from Monday’s opening levels of UGX 4,090/4,100 to close at UGX 4,150/4,160, as sustained demand…
The Uganda shilling surrendered the gains recorded in the previous session, depreciating sharply against the US dollar as it moved from 3960 / 3970 at the open to close at 4045 / 4055, according to Thursday Absa Bank Uganda market report. According to the report, the reversal was primarily driven by strong hard currency demand…
The Bank of Uganda has raised its Central Bank Rate (CBR) from 9.75% to 12%, a 2.25 percentage-point increase, as rising global oil prices and pressure on the shilling threaten to push inflation higher. The decision was announced on October 14 following a special meeting of the Monetary Policy Committee chaired by Governor Michael Atingi-Ego….
The Uganda shilling continued to weaken against the US dollar during the morning session, opening at 4160/4170 and sliding to a fresh all-time low of 4240/4250, according to Absa Bank Uganda Tuesday market report. The move was driven by strong interbank dollar demand amid limited hard currency supply, which kept the market significantly bid for…
By Henry Tumusiime, Human Capital Director – Absa Bank Uganda. For much of the corporate world, change used to be something organisations prepared for. It arrived with a restructuring, a new strategy, a merger or a new system and leaders would mobilize people around a defined period of transition. That way of thinking is becoming…
Capital markets regulator, Capital Markets Authority (CMA) has cleared the sale of shares in Dangote Petroleum Refinery and Petrochemicals FZE to selected Ugandan investors, but barred the company from making a public appeal for investors. The agency said on October 6 that it had approved the offer of securities under the refinery’s Initial Public Offering…
NCBA Bank Uganda has appointed Brian Mwine Rutemberwa as its Chief Information Security Officer (CISO), as the bank moves to strengthen its information security and cybersecurity functions. Rutemberwa joins the bank with more than 20 years of experience in technology and cybersecurity, having worked across banking, financial services, telecommunications, and other corporate environments. He has…
For years, money sent back home by Ugandans living abroad has helped families pay school fees, medical bills, build homes, and meet everyday needs. But Equity Bank is urging the diaspora to go a step further by turning part of their remittances into productive assets, businesses, and investments that can generate income. The bank made…
Christopher Legilisho, Economist at Stanbic Bank making remarks during the recently concluded Economic Forum in Kampala Investments in advertising and greater product quality were widely cited as drivers of consumer confidence, with all monitored sectors in the monthly Stanbic Purchasing Managers’ Index (PMI) registering optimism during September. Compiled by S&P Global, the latest survey data…
