Economy

Economy

Uganda private sector activity growth gauge unchanged in July

Business conditions in Uganda's private sector continued expanding in July, with activity expanding at a rate unchanged from June, according to a survey of purchasing executives.
Economy

Consumer inflation rises for second month in row

Uganda's annual headline inflation rate increased for the second consecutive month in July, mainly as a result of new taxes on social media and mobile money and higher car prices
Taxi park in Kampala
EconomyPolitics & Policy

Fitch Ratings maintains Uganda’s B+ rating

The third major credit rating agency, Fitch Ratings, has maintained its assessment of Uganda's capacity and willingness to honour its debt obligations, a decision it said was supported by the country's strong growth outlook and relative macroeconomic stability
African women sorting farm produce.
EconomyPolitics & Policy

Central Bank had to take over Crane Bank – Governor Mutebile

The intervention in Crane Bank, was the most difficult of these interventions and the one which was potentially the most problematic, because it was a large bank of systemic importance, and because of the huge magnitude of the losses it had incurred
Bank of Uganda governor, Emmanuel Tumusiime-Mutebile
EconomyOpinionPolitics & Policy

Kenya’s Perfect Storm

Annual rains have hit Kenya especially hard this year, causing havoc in the capital. But there is a silver lining amid the gloom: weather-related infrastructure challenges have pushed bureaucrats to tackle old issues like corruption and mismanagement with a renewed sense of urgency
Economy

Bank lending strengthens further

Bank of Uganda's record low policy rates could finally be having their desired effect on commercial bank loan advances, if the latest data is anything to go by
Logos of Uganda's commercial banks
Economy

Uganda’s trade deficit hits four-month low in May

Uganda's merchandise trade deficit eased to its lowest in four months in May following a fall in government project imports and a bump in outward shipments
Export containers at a port.
Economy

Business conditions stay strong in June

Business conditions in the private sector continued improving in June, buttressed by a widening customer base that lifted the demand for goods, according to IHS Markit's Purchasing Manager's Index
A retail shopping centre in downtown Kampala, Uganda
Economy

Uganda’s GDP growth robust at start of 2018

Activity in Uganda's real economy in the first three months of 2018 improved at a healthy rate from the same period a year earlier. But the economy lost a little pace as the annual quarterly GDP growth rate recorded its second straight drop
Digital EconomyEconomyPolitics & Policy

Mobile money dominates formal sector financial inclusion, limitations and all

Financial inclusion is low in Uganda because banks find it costly and unprofitable to extend services to rural areas. But even in urban areas, their services are expensive. Mobile money is the only financial service that has bucked those trends
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