Minister Kasaija: Uganda’s economy got an accident

The Banking industry has defended its changing mode of operation which sections of the public describe as less friendly, saying they have learnt from the effects of global shocks on the businesses and economies generally. In recent times, Bank of Uganda has compelled commercial banks to increase their lending rates even as the demand for…

Liberty General Uganda, Multilines International Limited Launch Marine and Cargo Insurance

Liberty General Uganda and Multilines International Limited have on Friday officially launched the Marine and Cargo Insurance. This follows the announcement by the Government of Uganda, through the Uganda Revenue Authority (URA) in partnership with the Insurance Regulatory Authority (IRA) who on 1st July 2022, imposed a law mandating all cargo imported into Uganda by…

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BOU tightens interest rates as cost of living worsens

The Bank of Uganda has raised the Central Bank Rate, the rate the regulator uses to control the cost of money from the banking industry, to 9 percent from 8.5 percent, at which it has been for only five weeks. The frequent Monetary Policy Statements announcing the upward adjustments are meant to control the spiraling…

Somalia President Hassan Sheikh Mohamud arrives in Uganda

The President of Somalia Hassan Shiekh Mohamud has arrived in Uganda for a two-day working visit running from August 8-10. At Entebbe, he was received by the Minister of Foreign Affairs, Gen Jeje Odongo. President Hassan Sheikh Mohamud and his host H.E Yoweri Museveni, will tomorrow Tuesday preside over the first Uganda – Somalia Investment…

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PSFU applauds Uganda Baati for leading by example in Private Sector

Uganda Baati Ltd, a member of Safal Group and Uganda’s leading manufacturer of trusted steel roofing brands has today hosted the Private Sector Foundation top management, led by Stephen Asiimwe, the Chief Executive Officer, Francis Kasirinya, the Chief Membership Officer, Damali Ssali, the Chief Programmes Officer and Ronny Mulongo the Manager, Membership Services. The UBL…

Uganda, South Sudan promise improved trade security, quality exports

South Sudan has warned Ugandan traders that they risk losing the lucrative market unless they improve the standard of goods exported. Mary Gordon, the Director General, South Sudan National Bureau of Standards told the South Sudan-Uganda Business Forum in Juba that Ugandans had taken advantage of the laxity in the enforcement of trade laws to…

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