Uganda Forwards Audit on USh 60bn Central Bank Heist to CID
Uganda's legislature has forwarded the Auditor-General's report on the UShs 60bn (US $ 16.23mn) Bank of Uganda heist to the Directorate of Criminal Investigations for further investigations. “Looking at the [...]
Mombasa Port Records 14% Cargo Jump, Uganda Major Mover
The Port of Mombasa recorded a 14% increase in cargo handled from January-October period with Uganda contributing to bulk of the performance. “Uganda was mainly responsible for the increase in [...]
Uganda's Parliament Rejects Proposal to Merge Tax Appeals Tribunal with Other Tribunals
Uganda's legislature, which is currently considering bills that rationalise government operations, has rejected a proposal to merge all tribunals into a single entity. “The framers of the 1995 Constitution were [...]Uganda Signs SGR Deal with Turkish Firm
The government of Uganda has signed a US$2.95 billion deal with a Turkish company Yapi Merkezi to construct a 272-kilometer section of the Standard Gauge Railway (SGR) on Monday. [...]Uganda Prepares to be Africa's Next Major Energy Player
Uganda is set to start pumping oil in 2025, after two decades of prospecting, investing, and construction. Uganda plans to transport its oil to other markets through the 1, 443kms [...]
Uganda to Start Milk, Coffee Exports to Nigeria
Africa's most populous country will soon start importing its milk and coffee from Uganda, Nigeria's former president Olesegun Obasanjo said after a visit to Uganda's president. “I am here to [...]Flutterwave Licensed by the Bank of Uganda
Flutterwave has received a Payment Systems Operator (PSO) license from the Bank of Uganda, the fintech said in a statement on Wednesday. According to the company, the PSO license allows [...]Uganda Mulls Listing Power Companies as Umeme's Concession Nears End
Uganda is considering listing power companies to enable them access more capital, seeking to emulate the success of listed Kenyan power generation company KENGEN. We are thinking about letting you [...]Bank of Uganda Cuts Interest Rate by 0.25%
The Bank of Uganda (BOU) has cut the key lending rate to 10.0 percent from 10.25 percent, the first time this year the apex bank has lowered the benchmark rate. [...]Uganda Protests $40mn Fee as it Receives First Direct Oil Imports
Uganda is lobbying Kenya to lower the $40mn (~KShs. 5bn/UGX 147bn) bond fee for an undeclared surplus it shipped as it starts direct importation of refined petroleum products through the [...]Bank of Uganda Closes Mercantile Credit Bank
The Bank of Uganda (BOU) has placed Mercantile Credit Bank Limited under liquidation, revoked its license and ordered for winding up of its operations after over 30 years of operation. [...]Bank of Uganda Maintains Benchmark Rate at 10.25%
The Bank of Uganda’s Monetary Policy Committee (MPC) maintained the Central Bank Rate (CBR) at 10.25% at its June meeting. The monetary authority said that considering upside risks to inflation, [...]
