The Uganda shilling appreciated during the first full trading week of 2026. According to Absa Bank Uganda weekly market updates report, having opened at 3615 / 3625, the shilling experienced strong appreciation pressures largely attributed to heavy portfolio inflows that outclassed existing demand from corporate entities in the manufacturing, telecom, and energy sectors. Richard Nsubuga,…
The Uganda shilling opened the first trading day of 2026 weaker, pressured by strong demand for hard currency from corporates in the energy and manufacturing sectors, according to market analysts. Richard Nsubuga, Absa Bank Uganda’s Ag. Head of Trading said that after closing 2025 on a firm footing at 3615/3625, early Friday demand pushed the…
The Uganda shilling closed Tuesday 30th December 2025 at the 3615/3625 levels, 5 shillings lower compared to the opening of 3610/3620 in a quiet trade on Monday, according to the market update from Absa Bank Uganda. According to Richard Nsubuga, the Ag. Head of Trading, the session saw balanced but thin trading activity with most…
By Moses Rutahigwa, Retail and Business Banking Director, Absa Bank Uganda. The festive season is one of the most vibrant periods in Uganda’s economic calendar. Families gather, communities celebrate, travel increases, and small businesses experience a surge in demand. From buying gifts and food to paying school fees in advance or funding travel plans, spending…
By Derrick Kyatuka It’s the WhatsApp notifications that do it. Another photo. Another name. Another last-seen location. And suddenly every parent pauses, heart racing, asking the quietest but loudest question: could my child be next? In Kampala and across Uganda reports of missing children feel disturbingly frequent. Every few days, another emergency notification circulates through…
When the hills above his home began to rumble in the night of 29th September 2025, Francis Mangusho of Tuikat Sub-county, Kweeni District, barely had time to react. His house, where he lived with his wife and two children, and the farm that sustained him and his family were wiped out by mudslides following heavy…
The Board of Directors of East African Breweries PLC (EABL) has today announced that Diageo PLC has agreed to sell its majority stake in EABL and its shareholding in the Kenyan spirits business, UDV (Kenya) Limited to Asahi Group Holdings (Asahi). This acquisition of EABL represents the first time a Japanese brewing major has made…
Absa Bank Uganda has today announced having achieved its commitment of planting one million trees ahead of the three-year time that was set when the programme commenced in February 2023. During the programme’s implementation, 340,590 trees were planted in 2023, and 372,641 trees were planted in 2024, and 568,086 trees were planted in 2025. This…
Absa Bank Uganda and Uganda Electricity Distribution Company Limited (UEDCL) have today announced the advancement of a five-year USD 50million, landmark financing facility to the electricity distributor to strengthen national power distribution. This landmark transaction marks a defining moment for Uganda’s energy sector, and the facility is UEDCL’s inaugural debt financing. The facility will enable…
Absa Bank Uganda has today launched three innovative digital payment solutions namely the Absa Multi-Currency Virtual Card, Absa Pay, and Absa Pay by Link, all designed to make banking more convenient, secure, and accessible for individuals and businesses. The Absa Multi-Currency Virtual Card enables users to hold and manage up to five currencies including Uganda…
