Uganda: Economic Recovery to Remain Subdued, Bou Maintains Cbr

Bank of Uganda has said the economy will remain subdued even as there has been gradual recovery in the first quarter of 2021.Speaking during the release of the April Monetary Policy report in Kampala yesterday, Bank of Uganda said the Central Bank Rate…

Uganda: Tea Farmers Ask Govt for Regulatory Authority

Tea farmers and leaders in Kigezi are advocating the establishment of a tea regulatory authority to ensure quality production and better prices, especially in the international market.The chairperson of south-western Uganda tea farmers and tea nursery …

Uganda: Nearly Half of Bank Loans Restructured

Financial institutions have restructured nearly half of their loan portfolio, signaling the devastating effect of Covid-19 on the economy.Dr Adam Mugume, the Bank of Uganda director for research told Daily Monitor that banks by January had restructured…

Uganda: Coffee Exports Defy Covid-19 Disruptions to Post Growth

Coffee exports have defied Covid-19 market disruptions for a straight second month recording growth in value and volume.According to data from Uganda Coffee Development Authority, coffee exports between March 2020 and February 2021 grossed at 5.56 mill…

Uganda’s Dairy Industry Suffers From Kenyan Ban

That Kenya is a lifeline for the dairy industry in Uganda is not in doubt.Therefore, when Kenya slapped the Mbarara based Lato Milk with an import ban early in the year, the effects were devastating for farmers in the neighbouring state.After several c…

Uganda Refinery Too Costly – CPI

Uganda’s decision to build a refinery has been discouraged on the basis that the facility is not only an expensive venture but also lowers the value of the East African Crude Oil Pipeline (EACOP).This is according to a report by UK-based think tank Cli…

Uganda: Double Tragedy Facing Economy – Covid-19 and Elections

Although it is difficult to establish how much money those vying for political positions in the country spend on electioneering, the economy usually takes a beating from extravagant election expenditure.Excessive expenditure experienced during election…

Uganda: Govt Seeks to Extend Rail Network to South Sudan

Finance Minister Matia Kasaija has said if funds are available, government will extend the rail line to South Sudan.Speaking during the handover of office to the new Uganda Railways Corporation managing director Mr Kasaija said being the cheapest means…

Uganda Losing Taxes to Illegal Motorcycle Trade

Uganda is grappling with rampant smuggling of motorcycles from the Democratic Republic of Congo; the motorcycles are brought in through illegal routes on Lake Albert.The illegal trade sees several motorcycles enter Uganda through the districts that bor…

Uganda: RDC Tells Residents to Embrace Industrial Developments

Buikwe Resident District Commissioner (RDC), Jane Francis Kagayi has urged Buikwe residents to embrace industrialization to boost development in the district.Ms Kagayi maded the reamrks at Famous 2009 Limited, a stone quarry in Kikubabuleega village Ng…

Uganda’s Electricity Export Earnings Decline to Shs96b

Uganda earned $25.64m (Shs96b) from electricity exports in the year ended August, according to details from Bank of Uganda.However, the earnings fell by 95 per cent compared to what the country earned in the same period ended August 2019.Data from Bank…

Uganda’s ‘Taxi Divas’ Rise From Covid-19’s Economic Gloom

KAMPALA, UGANDA – The women grappled with each other inside the vehicle. The driver jerked to ease the grip around her neck, then turned to elbow her attacker in the back seat. She flung the door open to make her escape, ending the simulated attack. “This one is too strong for me,” the attacker said, […]

Uganda: 3 Million Slip Into Poverty As Covid Strikes Economy

The Covid-19 disruption on the economy is pushing 3.1 million Ugandans into poverty, the United Nations has warned in a report on socio-economic impact of the pandemic in Uganda.The “Socio-economic impact of Covid-19 in Uganda” which was released yeste…