A new report by Uganda’s Advocates Coalition for Development and Environment (ACODE) and U.S.-based Global Financial Integrity (GFI) has identified systemic weaknesses in Uganda’s mining regulations that enable illicit financial flows (IFFs), costing the country critical revenue and undermining governance of its mineral resources. Titled “Uganda’s Mining Legal Regime: Addressing Illicit Financial Flows Risks and…
East Africa Marine Transport has taken a significant step towards creating a more sustainable and efficient logistics solution for Lake Victoria with the commissioning of M.V. MPUNGU, the lake’s first scheduled roll-on / roll-off freight vessel. Offering faster and safer crossings and reduced carbon emissions, the fuel-efficient vessel is set to transform regional trade by…
Uganda has maintained its fourth-place ranking in the Absa Africa Financial Markets Index (AFMI), a position it has held for the past year. However, the country’s score has shown significant improvement since 2017, reflecting its progress in developing its financial markets. According to the index, Uganda’s score has increased to 63, driven by its strong…
Farmers in Kween District have applauded Uganda Breweries for providing a ready market for barley which has boosted their household incomes, saying that this has improved their livelihoods. They said this during an interaction with officials from Uganda Breweries on Friday last week. Patrick Mangusho, a barley farmer on his ten acres in Kaplamai, Tuikat…
Absa Uganda, in partnership with the Kampala Hash House Harriers, has announced the third edition of the Absa KH3-7 Hills Run, slated for March 16, 2025. The announcement was made at the weekly hash run. The iconic 21-km race traverses the historic seven hills of Kampala—Kibuli, Nakasero, Old Kampala, Namirembe, Rubaga, Lubiri, and Nsambya—offering a…
The issuance of digital registration plates for private and public motor vehicles will begin on Monday (January 6). This will mark the third phase of Uganda’s Intelligent Transport Monitoring System (ITMS) project. The ITMS project, launched in November 2023, initially rolled out digital plates for government vehicles. In November 2024, the system was expanded to…
Ethiopia’s parliament on Tuesday approved legislation allowing foreign investment in the country’s banking sector. The law, first drafted in June, permits foreign ownership of Ethiopian banks but caps such stakes at 40%, according to a copy of the legislation reviewed by Reuters. The government hopes the move will attract foreign capital to one of Africa’s…
The Central Bank of Kenya (CBK) lowered its benchmark lending rate to 11.25% from 12.00% this week, signaling a shift to a more accommodative monetary policy to support economic growth amid slowing activity. The rate cut is aimed at reducing borrowing costs to boost credit uptake by businesses and consumers, the CBK said. Inflation remains…
This is a verbatim from the deputy governor at Bank of Uganda Micheal Atingi Ego. He made the remarks before journalists on the sidelines of the release of the Monetary Policy Briefing for December at the Bank of Uganda. I want to emphasise that the fact that investigations are still ongoing and I would not…
