Uganda will construct its first climate-resilient market at the Elegu border crossing with South Sudan, backed by funding from the European Union (EU) and Denmark, officials announced on during the Uganda-EU Business Insights Conference in Kampala. The $220 million-a-year trade corridor, vital for Uganda’s exports to South Sudan, has faced repeated disruptions from flooding during…
Mastercard Inc opened its first office in Uganda’s capital Kampala, expanding its East African footprint as part of efforts to drive financial inclusion and digital payment adoption in the region, the company said. The move comes as Uganda’s economy is projected to grow 6.2% annually through 2025, according to government estimates. Mastercard said its local…
President Yoweri Museveni has appointed Dr. Michael Atingi-Ego as the new governor of the Bank of Uganda, ending more than three years of uncertainty following the death of Emmanuel Tumusiime-Mutebile in January 2021. Atingi-Ego, who served as deputy governor, steps into the role permanently after speculation over the prolonged vacancy and absence of an acting…
BY DAVID WANDERA The concept of New Year, New Me” is probably as old as calendars, but be-coming a new version of yourself can be a little more complex than the mantra makes it out to sound. The in-stinct is to hit the ground running with as many objectives and targets as possible, but if…
By Dean Hack, Director for Coverage, Resources & Energy, Absa Securities United Kingdom, and Chetan Jeeva, Head of SA Corporate Lending at Absa CIB The world is rewriting its rulebook. It’s no longer just about what you produce but how you produce it. For resource-rich regions like Africa, the implications are profound: the value of…
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…
By Immaculate Namanda With a population of 45.9 million, Uganda has experienced significant growth in the adoption of digital financial services. Approximately 20 million people now engage in mobile money transactions nationwide, a clear indication of the growing shift toward financial technology. This adoption also prompted banks to expand their agent networks to tap into…
