The Uganda shilling traded under pressure during the week driven by sustained corporate demand amid weaker dollar inflows, according to Absa Bank Weekly Market Report. Dollar supply from entities paying end of Financial Year taxes wasn’t sufficient to offer support to the local unit. Additionally, offshore investor appetite for the foreign currency remained elevated amid…
The Uganda shilling pared back some of the losses recorded earlier in the week, supported by subdued dollar demand and a renewed influx of foreign currency supply on the interbank market, according to Thursday Market Report by Absa Bank Uganda. The local unit found footing as corporate dollar demand remained relatively light. The USD/UGX pair…
From Left to Right: Equity Group Chief Strategy Officer, Brent Malahay, Group Chief Finance and Transformation Officer, Anthony Murage, Group Company Secretary and Head of Tax, Lydia Ndirangu, Group Chairman, Prof. Isaac Macharia, Group Managing Director and CEO, Dr. James Mwangi, and Group Director, Governance & Strategic HR, Victoria Cherotich, during the Group’s 22nd Annual…
The Uganda shilling continued to trade under pressure today, primarily driven by sustained corporate demand amid weaker dollar inflows, according to Wednesday Absa Bank Uganda Market report. Additionally, offshore investor appetite for foreign currency remained elevated amid global dollar strength. The unit closed the day trading at 3705/3715, softer compared to the opening levels of…
The Uganda shilling came under depreciation pressure during today’s session, driven primarily by resurgent dollar demand from local corporates, according to the Absa Bank Market Report. At the same time, subdued dollar inflows provided limited support to the local unit, further weighing on its performance. The currency opened trading at 3650 / 3670 and weakened…
Digital financial services platform Wendi Mobile Wallet, developed by Pearl Bank, has enhanced its savings proposition, introducing a new plan that offers customers up to 12.5% tax-free interest per annum, as it seeks to deepen financial inclusion and encourage a stronger savings culture among Ugandans. The new offering marks an increase from Wendi’s existing savings…
The USD/UGX pair maintained a steady tone throughout today’s trading session, supported by a well-balanced interplay between dollar demand and supply, according to Monday’s Absa Bank Uganda Market Report. The currency opened the week at 3645 / 3655 and remained unchanged at the close, with no dominant pressure from either side of the market. Liquidity…
By Richard Nsubuga, Head of Trading Absa Bank Uganda The Uganda shilling registered gains during the week with support seen coming from strong dollar inflows from commodity exporters and offshore investors amidst demand from corporates who preferred to reserve their shilling liquidity as they pay their end of Financial Year tax obligations. Additionally, positive headlines…
By Richard Nsubuga, Head of Trading Absa Bank Uganda The Uganda Shilling registered decent gains on Tuesday in a session that was dominated by strong inflows from the offshore, commodity and the local corporates amidst the waning demand attributed to the end of financial year tax payments and the ongoing easing geopolitical tensions in the…
L-R Paul Nagemi, Israel Arinaitwe, Tetteh Ayitevie Prudential Uganda Chief Executive Officer, Tich Makonese, Head of Insurance and Asset Management at Stanbic Bank Uganda, Molly Kyakuhaire and Dogo Sign Stanbic Bank Uganda, in partnership with Prudential Assurance Uganda Limited, has launched an enhanced version of the Stanbic Medi-Protect health insurance solution. The expanded offering introduces…
