Economy

Banking

BoU grants Salaam Bank first Islamic finance licence

Salaam Bank Ltd was granted Uganda's first Islamic banking licence, weeks after the president assented to the final piece of legislation paving way for the banking method
A row of nine men, all standing, at a banking licence handover event
CommoditiesEconomy

Trade deficit narrows on higher gold exports

Increase in gold exports in July allowed outbound merchandise to outpace a gain in goods imports
Containers at Mombasa Port in Kenya
Economy

Loan growth weak in July

Loan growth at commercial banks was muted in July, underscoring the central bank's decision to ease monetary policy last month as it tries to boost economic growth
A retail shopping centre in downtown Kampala, Uganda
Economy

Growth in business activity slowed in August, Stanbic PMI shows

Stanbic Bank Uganda's purchasing managers' index receded for the third straight month in August as rising financial pressures stifled demand
An industrial storage area
Economy

Inflation eases to 18-month low

The consumer price index climbed 3.5 per cent compared to a year earlier, a slight step down from the 3.9 per cent annual growth registered in May and marking the tenth consecutive slowdown
Statistics House, which houses the Uganda Bureau of Statistics in Kampala
Commodities

Coffee exports rise, spurred by higher robusta prices

Strong Robusta prices drive Uganda's July coffee exports to their highest levels since August 2021
Coffee berries on plant
Economy

Monetary Policy Statement for August 2023: the BoU’s full statement

Bank of Uganda cut rates by 0.5 per cent Tuesday, the first adjustment since October 2022, responding to recent economic indicators highlighting the risk of a slowdown in GDP growth. You can read the full statement here
Economy

Bank of Uganda lowers policy rate amid growth concerns

Central bank cites economic indicators as it reduces policy rate to 9.5 per cent for stimulus
The Bank of Uganda in Kampala
Energy, Oil & GasInfrastructure

Mahathi Infra Uganda secures investment from the Africa Finance Corporation

Investment by the Lagos-based multilateral development finance institution will bring the Lake Victoria fuel transportation project closer to completion
A self-propelled barge on a lake
Economy

Economic growth solid in Q4 2021

Uganda's economy ended 2021 on a high note, its continued expansion in the fourth quarter marking four consecutive quarters of growth and a rebound in full-year growth
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