BY PAUL TENTENA KAMPALA, UGANDA-The trade in illicit cigarettes which is estimated at 23% of the total cigarettes sold in Uganda has remained a key concern in addressing loss of legal industry cigarette volumes according to the Managing Director of BAT Uganda. Mathu Kiunjuri told the media in Kampala that this has impacted a lot […]
KAMPALA, Uganda–The Uganda Shilling reversed previous day’s gains against the U.S dollar with the USD/UGX duo seen trading at the 3705/3725 mark as greenback demand from interbank players and importers keyed into the market on Friday. This week on the USD/UGX counters, a range-bound trading session at the 3700/3740 levels is plausible as an uptick […]
BY EABW REPORTER KAMPALA, UGANDA- Uganda Baati, the country’s leading manufacturer and supplier of quality roofing sheets and steel building solutions, has officially launched its Entebbe Road showroom and sales office at Paka Complex, in Zana town, to take its products and service closer to customers. During the opening ceremony, the Uganda Baati Board Chairman, […]
BY EABW REPORTER KAMPALA, UGANDA- Business people in Uganda are set to benefit from the inaugural Mkutano investment conference as discussion will focus on how to sustain economic development using the capital markets. David Ofungi, Founder and CEO of DERO, the curators of Economic Mkutano Conference due to take place on Tuesday 15, May at […]
DAR ES SALAAM, Tanzania– Tigo Tanzania’s mobile financial services business, Tigo Pesa has received the GSMA Mobile Money Certification, recognizing Tigo’s ability to deliver safe, transparent, reliable and more resilient services that promote consumer rights and prevent malicious transactions. Tigo Pesa is amongst the first mobile financial services providers around the globe to be certified […]
KAMPALA, Uganda–The Uganda shilling held steady at the 3680/3700 levels against the U.S. dollar on Tuesday, bolstered by low appetite for hard currency from key players as tight liquidity keyed into the local money market arena. The Central Bank injected Ugx 170.5 bio in the money market via a 2 day reverse re-purchase agreement in […]
The Uganda shilling closed a tad stronger against the U.S. dollar on Monday with the USD/UGX pair down to the 3680/3700 from the 3682/3702 levels on Friday. Traders trimmed long greenback positions as local tax settlements by key players curtailed purchasing power for the dollar. Today, relatively parallel activity on both demand and supply counters […]
KAMPALA, Uganda–The Uganda shilling ended the week on a stronger note against the U.S dollar as interbank players unwound long dollar positions amidst reduced foreign currency demand as corporate firms settled mid-month tax obligations. The USDUGX pair shed off a few shillings to close within the 3682/3702 band from previous comfort 3685/3705 levels. This week, […]
DUBAI, Saudi Arabia–The Speaker of Parliament, Rebecca Kadaga, has expressed concern that most Sub-Saharan African economies have been left out of the progress of financial growth putting them on a parallel growth pattern compared to Middle East countries. Kadaga made the remarks at the 8th Annual Investment Meeting (AIM) in Dubai, which is bringing together […]
Last month, Kenya, Tanzania and Uganda quietly linked their Real Time Gross Settlement systems. Perhaps because it came so close to the festive season, the general public did not take too much notice. But there must have been some very loud and relieved sighs among the business people. A major barrier to the flow of […]
Nairobi, Kenya–Relying more on electronic payments, such as cards and mobile payments, could yield a net benefit of up to U.S. $470 billion per year across 100 cities around the world – roughly the equivalent to 3% of the average GDP for these cities. These are the findings of an independent study conducted by Roubini […]
KAMPALA, Uganda–Two key Bills critical to the establishment of the East African Community Monetary Union were yesterday tabled before the East African Legislative Assembly sitting in Kampala Uganda for first reading. The two bills are the Monetary Institute Bill 2017 and the EAC Statistics Bureau Bill 2017 which were tabled by the Chair of the […]
NAIROBI, Kenya– More than 2.5 billion people around the world, many of them in Africa, lack formal identification that enables them access to financial and government services, this is according to the United Nations and the ID2020 project. What’s more, less than 10% of adults in low and middle-income countries are on file in public […]