Economy

Economy

Private sector credit expands in February year-on-year

Commercial bank's credit to the private sector in February grew 7.5% year on year, driven by personal loans and household loans, and more lending to the agriculture and trade sectors.
Bank signposts at Oasis Mall, Kampala
DataEconomy

Trade deficit narrows in February on weak import growth

Uganda's international trade deficit narrowed in February compared to a month earlier on weak import growth, but rose 34.9% year on year.
Economy

Uganda’s economy rebounded in final three months of 2016

Uganda's economy recorded positive growth in the second quarter of 2016/17 after contracting in the previous quarter, data released by the Uganda Bureau of Statistics on Tuesday show.
Busy market in Kampala, Uganda
Economy

Inflation falls to 6.4% in March

Annual headline inflation for the year ending March 2017 declined to 6.4% compared to the 6.7% recorded in the year ending February 2017.
Economy

Coffee exports up 46% year-on-year in February

Uganda exported 397,883 60-kilo bags of coffee worth $48.50 million in February 2017, a 46.31% increase in volume and 93.57% rise in value compared to the same period in 2016.
Economy

Uganda needs a caffeine fix: insights from Vietnam’s coffee market success

Until recently Vietnam and Uganda shared a similar trajectory in the development of their coffee sectors. Today, Vietnam is the second largest coffee producer in the world. Uganda's coffee sector has developed slower and produces low yields.
Economy

Inflation hits one-year high in February

Annual headline inflation rose to 6.7% for the year ended February 2017, up from 5.9% in January. This was on the back of higher food prices, with annual food crops inflation rising to 18.8% from 14.5% in January.
Busy market in Kampala, Uganda
Economy

Banks reduce rates on loans, but will they lend?

Several banks have announced their intention to lower prime lending rates since Monday, in response to Bank of Uganda's latest policy rate trimming.
Logos of Uganda's commercial banks
Economy

Bank of Uganda cuts policy rate by 0.5%

Bank of Uganda on Wednesday lowered the central bank rate by 0.5% to 11.5% from the 12% set in December.
Emmanuel Tumusiime-Mutebi, the governor of the Bank of Uganda
Economy

Uganda economy to grow 5% in 2017 – Stanbic Bank

After growing at an average rate of 7.8% in 1990-2010, the expansion of Uganda's economy slowed to 4.5% in the five years to 2016. The prevailing consensus among economists is that growth this year will hew to the rate of the last few years.
A Stanbic Bank Economist at a Stanbic event.
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