The Uganda shilling extends week’s gain against U.S. dollar on Friday The Uganda shilling extends week’s gain against U.S. dollar on Friday helped by dollar inflows from charities and downcast demand from commercial banks and corporates as the latter settled tax obligations. The local unit end the week stronger against the U.S. dollar at the […]
PVH, Velocity Apparelz and Intrade UK invest in Hawassa & Mekelle Industrial Parks PVH, Velocity Apparelz and Intrade UK to invest in Hawassa. The companies are all manufacturing textile products in Ethiopia. Industrial parks up and down the country are employing thousands of people thanks to FDI which currently stands at a minimum of $200,000 for […]
KAMPALA, Uganda–The Uganda shilling extended the week’s gains against the U.S dollar on Friday as some commercial banks converted their dollar holdings to cope with the local currency liquidity squeeze. On Friday commercial banks quoted the shilling at 3825/3845, compared to Thursday’s close of 3835/3855. The shilling has rallied against the greenback in recent days, […]
BY PAUL TENTENA KAMPALA, UGANDA- The Governor Bank of Uganda, Emmanuel Tumusiime Mutebile has recognized Standard Chartered (StanChart) Bank Uganda as the Best Performing Commercial Bank in selling Government Securities for the month of May 2018. The award was handed out after the Governor’s monthly meeting with the Uganda Bankers’ Association (UBA) – an umbrella […]
BY CBA KAMPALA, Uganda–The Uganda shilling continues to gain against the U.S. dollar as greenback demand maintains it’s low-slung amidst relatively skewed liquidity in the money market. The USD/UGX pair levelled at the 3835/3855 levels on Thursday from 3840/3860 on Wednesday. Ahead of the weekend, it is plausible that the local currency would continue clamping […]
Burundi signs African Continental Free Trade Area Agreement Burundi was among the latest African countries that signed the African Continental Free Trade Area> Agreement on Sunday July 1. Although full implementation of the AfCFTA will still take years, Burundi’s signing of the agreement is a significant step. Sierra Leone, Lesotho, South Africa and Namibia also […]
KAMPALA, Uganda–The Uganda shilling closed the 2017/18 financial year at the the 3870/3890 levels against the U.S dollar as calm activity on both demand and supply counters throughout the day limited any movements in the pair. Uganda’s year on year inflation for June rose to 2.2 per cent compared from 1.7 per cent in May […]
BY EABW REPORTER LUSAKA, ZAMBIA- The COMESA Bureau of the Authority of Heads of State and Government has extended the contract of the Secretary General Sindiso Ngwenya, until his successor assumes duty. This is contained in a letter signed by the current Chair of the Authority, President Hery RAJAONARIMAMPIANINA of Madagascar. According to the letter, […]
BY CBA The Uganda shilling resumed its downward trend against the U.S dollar undermined by an uptick in greenback demand from the corporate sector and commercial banks. The USD/UGX pair closed within the 3870/3890 band from 3860/3880 on Wednesday. On the last trading day of the Financial Year 2017/2018, market chatter alludes to a relatively […]
NEW YORK, USA – In his statement announcing a second round of punitive tariffs on imports from China, US President Donald Trump singled out the Chinese government’s “Made in China 2025” plan as a threat to US economic growth and a clear example of “unfair” trade practices. Is there any merit to Trump’s claim? And, […]
BY SAMUEL NABWIISO KAMPALA, Uganda–Infinix one of the leading manufacture of smart phones in the world has today unveiled its new smartphone device Note 5 on the Ugandan market. The new Note 5 is powered by Android one; “Beyond Intelligence” the smartphone is part of the Android one program designed to deliver software experienced by Google. […]
KAMPALA, Uganda–aYo Uganda has hit one million customers in less than 2 years of existence in Uganda. With a joint venture between MTN and MMI Holdings, aYo was formulated to have a strong focus on delivering micro-insurance solutions across the African continent. While addressing the media at kati- kati Restaurant, the Chief Executive Officer aYo […]
BY SAMSON OKWAKOL Kampala, Uganda–Airtel Uganda has launched a partnership with Kwesé iflix a mobile platform offering cutting edge programming, live sports, video on demand and download to watch later entertainment to deliver mobile TV services in Uganda. This partnership comes just a few weeks after Airtel Uganda announced countrywide 3G broadband connectivity in a […]